THINSOFT<08096> - Results Announcement (Q3, 2003, Summary)
ThinSoft (Holdings) Inc announced on 12/11/2003:
(stock code: 08096)
Year end date :31/12/2003
Currency :HKD
Auditors' report :N/A
Review of 3rd Quarterly Report by :Audit Committee & Auditors
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
(Unaudited) (Unaudited)
Current Last
Corresponding
Period Period
from 01/01/2003 from 01/01/2002
to 30/09/2003 to 30/09/2002
$'000 $'000
Turnover : 16,394 14,964
Profit/(Loss) from Operations : (8,420) (2,360)
Finance cost : 0 (2)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : (8,804) (2,822)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0176) (HKD 0.0059)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (8,804) (2,822)
3rd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 3rd Quarterly Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
For and on behalf of
ThinSoft (Holdings) Inc
Signature :
Name : Ngiam Mia Hai Bernard
Title : Executive Director
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. Basis of preparation and principal accounting policies
The basis of preparation and accounting policies adopted for the
preparation of the financial statements are consistent with those
adopted by the Group in its annual financial statements for the
year ended 31 December 2002.
2. Turnover
Turnover represents the net invoiced sales and services rendered,
less discounts, returns, and applicable goods and services taxes.
3. Tax
Hong Kong profits tax has not been provided as the Group did not
generate any assessable profits in Hong Kong during the period
under review.
ThinSoft Pte Ltd, a company incorporated in Singapore, is subject
to Singapore income tax. Singapore income tax has been provided
at the rate of 22% (2002: 22%) on the estimated assessable profits
arising in Singapore for the period ended 30 September 2003.
ThinSoft (USA) Inc, a company incorporated in the State of Delaware
in the United States of America and operating in the State of
California in the United States of America, is subject to the
United States federal income tax at progressive rates of between
15% to 39%, and California state corporate tax at a rate of 8.84%
(2002: 8.84%) for the period ended 30 September 2003, on its
estimated assessable profits arising on a world wide basis.
There were no unprovided deferred tax in respect of the period
under review (2002: Nil).
4. Dividends
The directors do not recommend the payment of an interim dividend
for the nine months ended 30 September 2003 (2002: Nil).
5. Loss per share
The basic loss per share for the three months and nine months
ended 30 September 2003 are calculated based on the consolidated
loss attributable to shareholders of the Company for the three
months and nine months ended 30 September 2003 of approximately
HK$1,337,000 and HK$8,804,000 respectively (2002: approximately
HK$3,667,000 and HK$2,822,000) and 501,250,000 shares and
500,751,465 shares respectively (2002: 500,000,000 shares and
474,816,850 shares respectively) deemed to have been issued and
issuable during the period under review on the assumption that
the Group reorganisation to rationalize the structure of the Group
in preparation for the listing of its shares on GEM of the Stock
Exchange on 27 February 2002 ("Group Reorganisation") and the
subsequent capitalisation issue of 372,000,000 shares of the
Company had been effective on 1 January 2002.
No diluted loss per share is presented because the share options
outstanding had an anti-dilutive effect on the basic loss per share.
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