PDF《Datasys Technology Holdings Limited》

1 The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Datasys Technology Holdings Limited 迪斯数码科技集团有限公司*(Incorporated in the Cayman Islands with limited liability) FURTHER POSTPONEMENT OF THE RESULTS ANNOUNCEMENT AND DESPATCH OF ANNUAL REPORT FOR THE YEAR ENDED

31 DECEMBER

2002 The Board hereby announces that the publication of the Results Announcement and the depatch of the Annual Report will be further postponed from

17 April

2003 and

23 April

2003 to on or before

9 May

2003 and

13 May

2003 respectively. As stated in the First Announcement, the Company has breached Rules 18.49 and 18.03 of the GEM Listing Rules due to the postponement of the publication of the Results Announcement and despatch of the Annual Report. The Stock Exchange reserves the right to take appropriate action regarding the above breaches of the GEM Listing Rules. With reference to the announcements of Datasys Technology Holdings Limited (the "Company") dated

18 March

2003 ("First Announcement") and

7 April 2003, the board of directors of the Company (the "Board") hereby announces that the publication of the Company's audited results for the year ended

31 December

2002 (the "Results Announcement") and the depatch of the Company's annual report for the year ended

31 December

2002 (the "Annual Report") will be further postponed from

17 April

2003 and

23 April

2003 to on or before

9 May

2003 and

13 May

2003 respectively. The main reason for such further postponement is that three debtors of the Company's subsidiaries, namely Henan Provincial Electric Power Company (河南省电力公司), Jilin Provincial Electric Power Co., Ltd. (吉林省电力有限公司)and State Power Corporation Southern Branch (国家电力公司南方公司)(the "Relevant Customers"), did not repay their outstanding balance with aggregate value of approximately RMB24.4 million owed to the Company and/or its subsidiaries (collectively the "Group") according to previously agreed repayment reschedules which were prepared as the outstanding balances from the Relevant Customers were already overdue. No provision in relation to the above balance has been made to the Company's unaudited management account published on

20 March 2003. All of the Relevant Customers are state-owned enterprises. Approximately RMB10.7 million of the Group's turnover during the year ended

31 December

2002 is related to the outstanding balance mentioned above. A substantial portion of the remaining outstanding balance is related to sales made in the year ended

31 December 2001. Henan Provincial Electric Power Company and Jilin Provincial Electric Power Co., Ltd. were the Group's largest and second largest customer respectively for the year ended

31 December 2001. Services provided to the Relevant Customers relate to provision of IT contract service and system integration. The directors of the Company (the "Directors") believe that the recent reform of the power industry in the PRC has created major changes within the Relevant Customers. Such changes have inevitably affected the operations of the

2 Relevant Customers as many of their staff members have changed. Due to this fact, payments for outstanding balances owed by the Relevant Customers to the Group were delayed. The Directors are currently in negotiations with the Relevant Customers for revised repayment schedules. Subject to finalising these repayment schedules, the auditors will carry out remaining audit work on the Group. The Directors anticipate that audit work will be completed in time for the Company to hold its board meeting to approve its audited results for the year ended