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(EXCEL TECHNOLOGY INTERNATIONAL HOLDINGS LIMITED)Tj
/G2 1 Tf
6.2229 -1.2 TD
0.0000 Tc
0.0000 Tw
<0080>Tj
/F-12 1 Tf
0.9463 0 TD
( )Tj
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<049b>Tj
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( )Tj
/G2 1 Tf
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<14bf>Tj
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( )Tj
/G2 1 Tf
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<07c5>Tj
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( )Tj
/G2 1 Tf
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<04a6>Tj
/F-12 1 Tf
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( )Tj
/G2 1 Tf
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<0a37>Tj
/F-12 1 Tf
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( )Tj
/G2 1 Tf
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<10e7>Tj
/F-12 1 Tf
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( )Tj
/G2 1 Tf
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<0a9b>Tj
/F-12 1 Tf
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( )Tj
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<0670>Tj
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( )Tj
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<03de>Tj
/F-12 1 Tf
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( )Tj
/G2 1 Tf
0.2537 0 TD
<0822>Tj
/F-12 1 Tf
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( )Tj
/G2 1 Tf
0.2503 0 TD
<02ae>Tj
/F-12 1 Tf
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( )Tj
/G2 1 Tf
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<0321>Tj
/F-12 1 Tf
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( )Tj
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<0081>Tj
/F-12 1 Tf
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(*)Tj
/F-11 1 Tf
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[(\(Incorpor)12.9(ated in Bermuda with limited liability\))]TJ
/F-12 1 Tf
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0.0027 Tw
[(FIRST Q)11(U)62.5(AR)39.4(TERL)89.5(Y RESUL)91.2(TS FOR THE)]TJ
-0.3857 -1.1443 TD
0.0090 Tc
0.0029 Tw
(THREE MONTHS ENDED 31 MARCH 2003)Tj
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-0.0012 Tc
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[(Characteristics of The Gr)22(o)8.8(wth Enter)11.5(prise Mark)10.3(et \()]TJ
/F2 1 Tf
21.6025 0 TD
[(ÒGEMÓ\) of The Stock Exchange of Hong K)31.1(ong Limited)]TJ
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0.0123 Tc
0.0013 Tw
(\(the ÒExchangeÓ\))Tj
0 -2.335 TD
0.0087 Tc
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[(GEM has been established as a mark)13.3(et designed to accommodate co)]TJ
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[(mpanies to which a high in)44.5(v)8.7(e)0(stment)]TJ
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-0.0014 Tc
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[(risk may be attached. In particular)96(, companies may list on GEM )]TJ
27.1714 0 TD
[(with neither a track r)22.2(ecord of pr)23.8(of)20.2(itability)]TJ
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0.0194 Tc
0.0178 Tw
[(nor any obligation to f)28.2(o)0(r)17.8(ecast futur)18.1(e pr)19.4(of)26.8(itability)68.4(. Furthermor)]TJ
27.7 0 TD
[(e, ther)19.5(e may be risks arising out of the)]TJ
-27.7 -1.165 TD
0.0001 Tc
-0.0321 Tw
[(emer)10.4(ging natur)16.9(e of companies listed on GEM and the b)27.9(usiness sec)]TJ
27.7969 0 TD
(tors or countries in which the companies)Tj
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0.0103 Tc
-0.0011 Tw
[(operate. Pr)18.4(ospecti)11.2(v)10.3(e)0( in)38.2(v)10.3(estors should be awar)18.4(e of the potential)]TJ
27.1705 0 TD
[( risks of in)44.1(v)10.3(esting in such companies and)]TJ
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0.0085 Tc
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[(should mak)12.5(e the decision to in)43.1(v)8.5(est only after due and car)18.7(eful c)]TJ
26.9095 0 TD
[(onsideration. The gr)21.5(eater risk pr)19.6(of)25(ile and)]TJ
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0.0038 Tc
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[(other characteristics of GEM mean that it is a mark)17.7(et mor)20.6(e suit)]TJ
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0.0126 Tc
0.0000 Tw
[(in)39.2(v)12.6(estors.)]TJ
0 -2.335 TD
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28.6395 0 TD
(a risk that securities traded on GEM)Tj
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0.0246 Tc
0.0284 Tw
[(may be mor)18(e susceptible to high mark)10.8(et v)13.9(olatility than securiti)]TJ
28.4571 0 TD
(es traded on the Main Board and no)Tj
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0.0119 Tc
0.0033 Tw
[(assurance is gi)12.4(v)11.9(en that ther)13.6(e will be a liquid mark)15.5(et in the se)]TJ
26.5148 0 TD
(curities traded on GEM.)Tj
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0.0010 Tc
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[(The principal means of inf)27(ormation dissemination on GEM is publ)]TJ
28.1687 0 TD
[(ication on the inter)25.6(net website operated)]TJ
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0.0118 Tc
0.0021 Tw
[(by the Exchange. Listed companies ar)21.5(e not generally r)22.6(equir)16.9(ed to)]TJ
28.199 0 TD
( issue paid announcements in gazetted)Tj
-28.199 -1.165 TD
0.0174 Tc
0.0139 Tw
[(newspapers. Accordingly)57.1(,)-0.1( pr)18.6(ospecti)11.1(v)12.4(e)0( in)36.6(v)12.4(estors should note that)]TJ
28.3669 0 TD
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-28.3669 -1.165 TD
0.0122 Tc
0.0026 Tw
[(website in order to obtain up-to-date inf)30(ormation on GEM-listed)]TJ
28.3131 0 TD
[( issuers.)]TJ
/F-11 1 Tf
-28.3131 -2.335 TD
0.0105 Tc
-0.0003 Tw
[(The Exc)17.3(hang)12.1(e tak)8.3(es no r)34.9(esponsibility for the contents of this a)]TJ
25.475 0 TD
[(nnouncement, mak)16(es no r)39.9(epr)34.6(esentation as to its)]TJ
-25.475 -1.165 TD
0.0117 Tc
0.0017 Tw
[(accur)15.4(acy or completeness and e)22.1(xpr)38.1(essly disclaims any liability )]TJ
26.1155 0 TD
[(whatsoe)20.3(ver for any loss howe)12.4(ver arising fr)45.1(om)]TJ
-26.1155 -1.17 TD
0.0119 Tc
0.0032 Tw
[(or in r)40.8(eliance upon the whole or any part of the contents of th)]TJ
25.4448 0 TD
(is announcement.)Tj
-25.4448 -2.33 TD
0.0216 Tc
0.0226 Tw
[(This announcement, for whic)18(h the dir)38.9(ector)8.2(s \(the )]TJ
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