Listed Company Information
 

CHINA TING<03398> - Results Announcement (Summary) (Revised)

China Ting Group Holdings Limited announced on 11/04/2006:
(stock code: 03398 )
Year end date: 31/12/2005
Currency: HKD
Auditors' Report: Unqualified

                                                        (Audited   )
                                     (Audited   )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/01/2005    from 01/01/2004
                                     to 31/12/2005      to 31/12/2004
                               Note  ('000      )       ('000      )
Turnover                           : 1,894,835          1,401,465         
Profit/(Loss) from Operations      : 462,748            243,154           
Finance cost                       : (8,951)            (10,191)          
Share of Profit/(Loss) of 
  Associates                       : 9,023              10,391            
Share of Profit/(Loss) of
  Jointly Controlled Entities      : N/A                N/A               
Profit/(Loss) after Tax & MI       : 380,997            192,803           
% Change over Last Period          : +97.6     %
EPS/(LPS)-Basic (in dollars)       : 0.2515             0.1294            
         -Diluted (in dollars)     : 0.2513             N/A               
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : 380,997            192,803           
Final Dividend                     : $0.046             N/A
  per Share                                              
(Specify if with other             : N/A                N/A
  options)                                               
                                                         
B/C Dates for 
  Final Dividend                   : 24/05/2006         to 30/05/2006 bdi.
Payable Date                       : 20/06/2006
B/C Dates for Annual         
  General Meeting                  : 24/05/2006         to 30/05/2006 bdi.
Other Distribution for             : N/A
  Current Period                     
                                     
B/C Dates for Other 
  Distribution                     : N/A   
  
Remarks:

1.      China Ting Group Holdings Limited (the "Company") was incorporated 
in the Cayman Islands on 31 May 2005 as an exempted company with limited 
liability under the Companies Law (Cap. 22, Law 3 of 1961, as combined and 
revised) of the Cayman Islands.  The address of its registered office is 
Century Yard, Cricket Square Hutchins Drive, P.O. Box 2681 GT, George 
Town, Grand Cayman, British West Indies.

2.      Reorganisation

Pursuant to a group reorganisation, which was completed on 18 November 
2005 (the "Reorganisation"), the Company became the holding company of the 
subsidiaries now comprising the Group. The shares of the Company were 
listed on the Main Board of The Stock Exchange of Hong Kong Limited on 15 
December 2005. 

The Reorganisation has been reflected in the financial statements by 
regarding the Group now comprising the company and its subsidiaries as a 
continuing entity. Accordingly, the financial statements for the year 
ended 31 December 2004 have been prepared using the merger basis of 
accounting and the consolidated results include the results of the 
subsidiaries comprising the Group as if the current structure had been in 
existence throughout the period presented. 

3.         Basis of preparation

The consolidated financial statements of China Ting Group Holdings Limited 
have been prepared in accordance with Hong Kong Financial Reporting 
Standards ("HKFRS").  

The preparation of consolidated financial statements in conformity with 
HKFRS requires the use of certain critical accounting estimates.  It also 
requires management to exercise its judgement in the process of applying 
the Company's accounting policies.      

The HKICPA has issued a number of new/revised HKFRSs that are effective 
for accounting periods commencing on or after 1 January 2006.  The Group 
has started considering the potential impact of these HKFRSs.  Based on 
the preliminary assessment, the Group believes that the adoption of these 
HKFRSs, if applicable, will not result in substantial changes to the 
Group's accounting policies.  The Group has not early adopted these new/
revised HKFRSs, if applicable, in the financial statements for the year 
ended 31 December 2005, as follows:

HKAS 1 (Amendment)      First-time Adoption of Hong Kong Financial 
Reporting Standards - Capital disclosure1
HKAS 19 (Amendment)     Actuarial Gains and Losses, Group plan and 
Disclosures2
HKAS 21 (Amendment)     Net Investment in a Foreign Operation2
HKAS 39 (Amendment)     Cash Flow Hedge Accounting of Forecast Intragroup 
Transactions2
HKAS 39 (Amendment)     The Fair Value Option2
HKAS 39 and HKFRS 4   (Amendment)               Financial Guarantee 
Contracts2
HKFRS 6 Exploration for and Evaluation of Mineral Resources2
HKFRS 7                 Financial Instruments: Disclosures1
HKFRS-int 3     Emission Rights2
HKFRS-int 4     Determining whether an Arrangement Contains a Lease2
HKFRS-int 5     Rights to Interests arising from Decommissioning, 
Restoration and Environmental Rehabilitation Funds2
HK(IFRIC)-Int 6 Liabilities arising from Participating in a Specific 
Market - Waste Electrical and Electronic Equipment3 

1       :       Effective for accounting periods commencing on or after 1 
January 2007.
2       :       Effective for accounting periods commencing on or after 1 
January 2006.
3       :       Effective for accounting periods commencing on or after 1 
December 2005.
        

4.      Reporting segment - business segments 

As at and for the year ended 31 December 2005

The segment results for the year ended 31 December 2005 and other segment 
items included in the consolidated income statement are as follows:
        
                                OEM             Retailing of
                                garment         branded fashion
                                sales           apparel         Total
                                HK$'000         HK$'000         HK$'000
Gross segment sales             1,730,322       172,783         1,903,105
Elimination of inter-segment
 sales                          (8,270)         -               (8,270)
                                ----------      ----------      ----------
Turnover                        1,722,052       172,783         1,894,835
Other income                    10,762          151             10,913
                                ----------      ----------      ----------
                                1,732,814       172,934         1,905,748
                                ----------      ----------      ----------
Segment results                 432,577         14,265          446,842
Unallocated gains                                               15,906
                                                                ----------
Operating profit                                                462,748
Finance costs                   (8,951)         -               (8,951)
Share of profit of associates   9,023           -               9,023
                                                                ----------
Profit before income tax                                        462,820
Income tax expense                                              (72,715)
                                                                ----------
Profit for the year                                             390,105
                                                                ==========

Other segment items included
 in the income statement are
 as follows:                    
Depreciation charge             23,531          3,075           26,606
Amortisation of leasehold land
 and land use rights            1,061           -               1,061
Provision for impairment of
 receivables                    3,069           -               3,069
Bad debts written off           78              -               78
Inventory write-down            55             17,047           17,102
        

As at and for the year ended 31 December 2004

The segment results for the year ended 31 December 2004 and other segment 
items included in the consolidated income statement are as follows:

                                OEM             Retailing of
                                garment         branded fashion
                                sales           apparel         Total
                                HK$'000         HK$'000         HK$'000
Gross segment sales             1,253,113       156,953         1,410,066
Elimination of inter-segment
 sales                          (8,601)         -               (8,601)
                                ----------      ----------      ----------
Turnover                        1,244,512       156,953         1,401,465
Other income                    4,787           1,718           6,505
                                ----------      ----------      ----------
                                1,249,299       158,671         1,407,970
                                ----------      ----------      ----------
Segment results                 175,065         41,452          216,517
Unallocated gains                                               26,637
                                                                ----------
Operating profit                                                243,154
Finance costs                   (5,615)         (4,576)         (10,191)
Share of profit of associates   10,391          -               10,391
                                                                ----------
Profit before income tax                                        243,354
Income tax expense                                              (30,186)
                                                                ----------
Profit for the year                                             213,168
                                                                ==========

Other segment items included in the income statement are as follows:       
     
        
Depreciation charge             22,996          1,885           24,881
Amortisation of leasehold
 land and land use rights       846             6               852
Provision for impairment
 of receivables                 -               633             633
Bad debts written off           8,320           -               8,320
Inventory write-down            -               1,361           1,361

The Group primarily operates in Hong Kong and the PRC. Sales are made to 
overseas customers as well as customers in the PRC.

The Group's sales are mainly made to the customers located in the 
following geographical areas:

                                        2005            2004
                                        HK$'000         HK$'000
                
North America                           1,547,703       1,136,335
European Union                          84,427          41,726
The PRC (including Hong Kong)           214,419         190,682
Other countries                         48,286          32,722
                                        ----------      ----------
                                        1,894,835       1,401,465
                                        ==========      ==========

5.      Earnings per share

Basic earnings per share is calculated by dividing the profit attributable 
to equity holders of the Company by the weighted average number of 
ordinary shares in issue during the year.

                                        2005            2004
                                        HK$'000         HK$'000
                
Profit attributable to equity holders
 of the Company                         380,997         192,803
                                        =========       =========
                
Weighted average number of ordinary
 shares in issue (thousands)            1,514,658       1,490,000
                                        ==========      ==========
                
Basic earnings per share
 (HK cents per share)                   25.15 cents     12.94 cents
                                        ============    ============

Diluted earnings per share is calculated adjusting the weighted average 
number of ordinary shares outstanding to assume conversion of all dilutive 
potential ordinary shares. The Company has one category of dilutive 
potential ordinary shares: share options.  For the share options a 
calculation is done to determine the number of shares that could have been 
acquired at fair value (determined as the average annual market share 
price of the Company's shares) based on the monetary value of the 
subscription rights attached to outstanding share options. The number of 
shares calculated as above is compared with the number of shares that 
would have been issued assuming the exercise of the share options. 

                                                2005    
                                                HK$'000 
Profit attributable to equity holders of
 the Company and used to determine diluted
 earnings per share                             380,997 
                                                ----------
Weighted average number of ordinary shares
 in issue (thousands)                           1,514,658       
Adjustments for - share options (thousands)     1,147   
                                                -----------
Weighted average number of ordinary shares
 for diluted earnings per share (thousands)     1,515,805       
                                                -----------
Diluted earnings per share (HK per share)       25.13 cents     
                                                ============

No disclosure of diluted earnings per share for the year ended 31 December 
2004 has been made as there were no potential dilutive ordinary shares 
outstanding during the year.