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.