Quarterly Results announcement form Name of listed company :Eco-Tek Holdings Limited Stock code :8169 Year end date :31 October 2002 Important Note : This result announcement form only contains extracted information from and should be read in conjunction with the detailed results announcement of the issuer, which can be viewed on the GEM website at http://www.hkgem.com Currency: HK$'000 (Unaudited) (Unaudited) Quarterly Results Announcement Current Last Corresponding Period Period from 01/11/2001 from 01/11/2000 to 30/04/2002 to 30/04/2001 HK$'000 HK$'000 Turnover : 10,501 12,022 Profit/(Loss) from Operations : 2,911 6,297 Finance cost : 0 0 Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entites : N/A N/A Profit/(Loss) after Taxation & MI : 2,515 5,247 % Change Over the Last Period : -52.07 % EPS / (LPS) - Basic : HK0.48 cent HK1.27 cent - Diluted : HK0.40 cent N/A Extraordinary (ETD) Gain/(Loss) : 0 0 Profit (Loss) after ETD Items : 2,515 5,247 2nd Q Dividend per Share : 0 0 (specify if with other options) : N/A N/A B/C Dates for 2nd Q Dividend : N/A to N/A bdi. Payable Date : N/A B/C Dates for AGM/SGM : N/A to N/A bdi. Other Distribution for Current Period: N/A B/C Dates for Other Distribution : N/A to N/A bdi. (bdi: both days inclusive) For and on behalf of Eco-Tek Holdings Limited Signature : Name : Tsui Siu Chuen Title : Company Secretary Responsibility statement The directors of the Company (the "Directors") as at the date hereof hereby collectively and individually accept full responsibility for the accuracy of the information contained in this results announcement form (the "Information") and confirm, having made all reasonable inquiries, that to the best of their knowledge and belief the Information are accurate and complete in all material respects and not misleading and that there are no other matters the omission of which would make the Information herein inaccurate or misleading. The Directors acknowledge that the Stock Exchange has no responsibility whatsoever with regard to the Information and undertake to indemnify the Exchange against all liability incurred and all losses suffered by the Exchange in connection with or relating to the Information. Remarks: 1. Group reorganisation The Company was incorporated in the Cayman Islands as an exempted company with limited liability under the Companies Law of the Cayman Islands on 6 December 2000. Pursuant to a group reorganisation (the "Group Reorganisation") to rationalise the structure of the Group in preparation for the listing of its shares on the GEM of the Stock Exchange on 5 December 2001, the Company became the holding company of the companies then comprising the Group on 21 November 2001. Further details of the Group Reorganisation are set out in the Company's prospectus (the "Prospectus") dated 27 November 2001. 2. Basis of presentation The Group Reorganisation has been accounted for by the Company using the merger accounting method in accordance with the Statement of Standard Accounting Practice ("SSAP") No. 2.127 "Accounting for group reconstructions" issued by the Hong Kong Society of Accountants. The comparative figures for the three months and six months ended 30 April 2001 included the results of all companies involved in the Group Reorganisation, which were assumed to have been in existence throughout the said periods or since their respective dates of incorporation, if it was a shorter period. The figures for the six months ended 30 April 2002 have been prepared as if the Group Reorganisation had been completed on 1 November 2001. All significant transactions and balances among the companies comprising the Group have been eliminated on combination and consolidation. 3. Earnings per share The calculation of basic earnings per share for the six months ended 30 April 2002 was based on the unaudited profit attributable to shareholders of approximately HK$2,515,000 (2001: approximately HK$5,247,000) and the weighted average number of approximately 528,366,851 shares (2001: 414,600,000 shares) in issue during the period. In determining the weighted average number of shares, 414,600,000 shares were deemed to have been issued on the assumption that the Group Reorganisation and the subsequent capitalisation issue of 414,000,000 shares of the Company had been effective during the six months ended 30 April 2001. The calculation of the diluted earnings per share for the six months ended 30 April 2002 was based on the unaudited net profit attributable to shareholders for the six months ended 30 April 2002 and on a weighted average number of approximately 632,166,706 shares, being the 528,366,851 shares as used in the calculation of basic earnings per share, and the weighted average of approximately 103,799,855 shares assumed to have been issued at no consideration on the deemed exercise of the pre-IPO share options and the options granted to Advance New Technology Limited. The diluted earnings per share for the six months ended 30 April 2001 have not been calculated as no diluting events existed during the period.