ECO-TEK HLDGS<08169> - Results Announcement (Final, 2001/2002, Summary)

Eco-Tek Holdings Limited announced on 30 December 2002
(stock codes: Ord: 08169)

Year end date                         :31 October 2002
Currency                              :HKD
Auditors' report                      :Unqualified
Review of Quarterly Report by         :N/A

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

                                            ( Audited)         (Audited)
                                           Current    Last Corresponding
                                           Period           Period
                                       from 01/11/2001   from 01/11/2000
                                         to 31/10/2002     to 31/10/2001
                                                 $'000             $'000

Turnover                              :         31,380            20,144
Profit/(Loss) from Operations         :          4,821             9,769
Finance cost                          :            N/A               N/A
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     :          4,005             8,221
% Change Over the Last Period         :         -51.28%
EPS / (LPS)
          Basic (in dollar)           :     HKD 0.0074        HKD 0.0198
          Diluted (in dollar)         :     HKD 0.0062               N/A
Extraordinary (ETD) Gain/(Loss)       :              0                 0
Profit (Loss) after ETD Items         :          4,005             8,221
Final Dividends per Share             :HK0.35 cent per share         NIL
(specify if with other options)       :            N/A               N/A
B/C Dates for Final Dividends         :     19/02/2003 to 21/02/2003 bdi.
Payable Date                          :     24/02/2003
B/C Dates for Annual General Meeting  :            N/A
Other Distribution for Current Period :            NIL
B/C Dates for Other Distribution      :            N/A

                                       (bdi: both days inclusive)

                                       For and on behalf of
                                       Eco-Tek Holdings Limited
                            Signature :
                                 Name :       Fung Kin
                                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

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 Growth Enterprise Market (the ¡§GEM¡¨) of The 
Stock Exchange of Hong Kong Limited (the ¡§Stock Exchange¡¨) on 5 
December 2001, the Company became the holding company of the 
companies now comprising the Group on 21 November 2001. This was 
accomplished by acquiring the entire issued share capital of 
Eco-Tek (BVI) Investment Holdings Limited (¡§Eco-Tek (BVI)¡¨), 
which is the intermediate holding company of other subsidiaries, 
in consideration of and in exchange for the allotment and issue 
of a total of 300,000 shares of HK$0.01 each in the share 
capital of the Company, credited as fully paid, to the former 
shareholders of Eco-Tek (BVI). Further details of the Group 
Reorganisation are set out in the Company¡¦s prospectus dated 
27 November 2001 (the ¡§Prospectus¡¨).

2. Basis of presentation and consolidation

The Group Reorganisation involved companies under common control. 
The consolidated financial statements have been prepared using 
the merger basis of accounting in accordance with Hong Kong 
Statement of Standard Accounting Practice (¡§SSAP¡¨) No. 2.127 
¡§Accounting for Group Reconstructions¡¨. On this basis, the Company
 has been treated as the holding company of its subsidiaries acquired 
through the Group Reorganisation for the period from 27 October 1999 
(date of establishment of the companies comprising the acquired 
Eco-Tek BVI Group) to 31 October 2002, rather than from the date of 
their acquisitions on 21 November 2001. Accordingly, the consolidated 
results and cash flows of the Group for the period from 27 October 1999 
(pro forma formation date of the Group) to 31 October 2002 include 
the results and cash flows of the Company and its subsidiaries with 
effect from 27 October 1999 or since their respective dates of 
incorporation or acquisition by the Group, where this is a shorter 
period. In the opinion of the directors, the consolidated financial 
statements prepared on the above basis present more fairly the 
results of the Group as a whole, as the principal activities of the 
Group were carried out by those subsidiaries prior to and after the 
Group Reorganisation.  

All significant transactions and balances within the Group are 
eliminated on consolidation.

3. Earnings per share

The earnings per share for the year is calculated based on 
the consolidated net profit attributable to shareholders of the 
Company for the year of HK$4,005,000 (2001:HK$8,221,000) and 
540,683,836 (2001:414,600,000) shares deemed to have been 
issued and issuable during the year on the assumption that the 
Group Reorganisation and the capitalisation issue of 414,000,000 
shares of the Company had been effective on 27 October 1999 
(pro forma formation date of the Group).

The calculation of the diluted earnings per share for the year 
ended 31 October 2002 is based on the consolidated net profit 
attributable to shareholders of the Company for the year of 
HK$4,005,000 and 642,535,091 shares, being the 540,683,836 
shares as used in the calculation of basic earnings per share, 
and the weighted average of 101,851,255 shares assumed to have 
been issued at no consideration on the deemed exercise of 
the pre-IPO share options and the option granted to Advance 
New Technology Limited (¡§ANT-Option¡¨).

The diluted earnings per share amount for the year ended 31 
October 2001 is not presented since there were no potential 
ordinary shares in existence during the year.