PROFIT FORECAST AND DIVIDEND POLICY
Profit Forecast
The Directors estimate that, on the bases and assumptions set out in Appendix II, the combined profit after
taxation and minority interests but before extraordinary items of the Group for the year ending 30th June, 2000 will
not be less than US$9.84 million (the “Forecast Profit”). The Directors are not aware of any extraordinary items
which have arisen or are likely to arise in respect of the year ending 30th June, 2000.
The Forecast Profit represents an increase of about 136.2 per cent. over the combined net profit after taxation
and minority interests of the Group of about US$4.165 million for the year ended 30th June, 1999. The Directors are
confident that given the current trend and developments in the IT market, the Forecast Profit would be achieved
through the implementation of the Group’s corporate strategy which is more fully described below.
However, the Group’s ability to meet the Forecast Profit depends considerably on the sales performance and
profit contribution of its computer-related consumer electronic products (details of which are set out under the
paragraph headed “Period from 1st July, 1999 to the Latest Practicable Date” in the “Statement of Active Business
Pursuits” section of this prospectus), which were first launched by the Group in the global market in September
1999 and whose forecast contribution represents about 25.6 per cent. of the Group’s forecast gross profit for the year
ending 30th June, 2000. Whilst the manufacture and sale of computer-related consumer electronic products may
offer the Group with higher profit margins, the contribution of such products to the Group’s profit for the year
ending 30th June, 2000 may be adversely affected by any changes in the popularity of such products and competition
from other manufacturers.
During the year ending 30th June, 2000, the Group will continue its strategy of increasing the proportion of
products manufactured and sold under the Group’s own brand names, which have relatively higher margins, in the
Group’s total turnover. The Directors believe that the IT market is moving towards a convergence of computer and
consumer applications and the continued popularity of the Internet will create a growing demand for computer-related
consumer electronic products. The MP3 product line, which is at its growth phase of its life cycle, is gaining
strong reception from the market and the Group has received numerous enquiries on the product from its customers
in the US, the United Kingdom, the Netherlands and Hong Kong. In common with other businesses in the IT
industry, the Group normally receives orders for its products about two to three weeks prior to their requested
delivery dates and as such, the Group has not secured any substantial confirmed sales orders for its MP3 products as
at the Latest Practicable Date. Nevertheless, with the well-established global distribution network and diversified
customer base of the Group, the Directors are confident that the new product line will contribute significantly to the
Group’s turnover and profit for the year ending 30th June, 2000. In addition, the Directors believe that the increasing
number of Internet users and the continuous advancement in technology and introduction of new applications would
increase the demand for new computers and computer hardware components such as fax modems and graphic cards.
This anticipated strong “Internet-related” and technology growth would, in turn, benefit the Group’s sales and profit
performance in its computer and communication divisions for the year ending 30th June, 2000.
Tolle Aussichten eines in HK gut positionierten Hardware- & IT-ANbieters.
Kurs in München 0.20 Euro
public.deutsche-bank.de/pb/kurse/nav.nsf/...2HFFD?OpenDocument
Hadere, ob am MO Dig. Adv. oder Pine bei mir ins Depot kommt, wobei ich Pine konservativer als DA einstufe.
Gruß TGK