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 |
Financial Statements |
| The financial information is taken from report
2009. |
|
|
2009 |
2008 |
|
 |
|
|
RMB'000 |
RMB'000 |
| |
|
|
| Revenue |
271,109 |
280,846 |
| Cost of sales |
(185,197) |
(204,737) |
|
|
|
| Gross profit |
85,912 |
76,109 |
| |
|
|
| Other operating income |
15,311 |
11,475 |
| Selling and distribution expenses |
(6,611) |
(6,139) |
| Administrative expenses |
(24,787) |
(34,104) |
| Other operating expenses |
(2,531) |
(335) |
| Finance expenses |
(9,693) |
(4,561) |
|
|
|
| Profit before tax |
57,601 |
42,445 |
| Income tax expense |
(10,616) |
(6,910) |
|
|
|
| Profit after tax |
46,985 |
35,535 |
|
|
|
| Other comprehensive income: |
|
|
| Foreign currency translation |
– |
203 |
|
|
|
| Total comprehensive income for the year and attributable to owners of the parent |
46,985 |
35,738 |
|
|
|
|
|
|
| Earning per share (RMB cents) |
|
|
| Basic |
11.7 |
8.8 |
| Diluted |
11.7 |
8.8 |
|
|
|
|
2009 |
2008 |
|
|
|
|
RMB'000 |
RMB'000 |
| |
|
(Restated) |
| Non-current assets |
|
|
| Property, plant and equipment |
361,540 |
285,950 |
| Investment property |
24,370 |
24,805 |
| Land use rights |
29,597 |
30,295 |
| Investment in subsidiaries |
- |
- |
| Deferred tax assets |
151 |
- |
| |
|
|
| Current assets |
|
|
| Inventories |
20,312 |
21,649 |
| Trade receivables |
84,179 |
70,261 |
| Other receivables |
32,952 |
36,341 |
| Prepayments |
– |
415 |
| Amount due from a related party (non-trade) |
– |
50 |
| Amount due from subsidiaries (non-trade) |
– |
- |
| Fixed deposits |
67,579 |
35,000 |
| Cash and bank balances |
25,647 |
7,551 |
|
|
|
|
230,669 |
171,267 |
|
|
|
| |
|
|
| TOTAL ASSETS |
646,327 |
512,317 |
|
|
|
| |
|
|
| Current liabilities |
|
|
| Trade payables |
127,216 |
71,093 |
| Other payables and accruals |
46,941 |
95,820 |
| Amount due to a director (non-trade) |
1,098 |
1,281 |
| Amount due to related parties (non-trade) |
– |
446 |
| Bank term loans (secured) |
66,500 |
60,000 |
| Income tax payable |
5,605 |
2,037 |
|
|
|
|
247,360 |
230,677 |
|
|
|
| |
|
|
| Non-current liabilities |
|
|
| Bank term loans (secured) |
70,342 |
– |
|
|
|
| NET ASSETS |
328,625 |
281,640 |
|
|
|
| |
|
|
| EQUITY |
328,625 |
281,640 |
| Capital and reserves attributable to equity holders of the Company |
|
|
| Share capital |
155,184 |
155,184 |
| Translation reserve |
(193) |
(193) |
| Merger deficit |
(587) |
(587) |
| Statutory reserve fund |
15,159 |
10,228 |
| Retained earnings/(accumulated losses) |
159,062 |
117,008 |
|
|
|
| TOTAL EQUITY |
328,625 |
281,640 |
|
|
|
|
2009 |
2008 |
|
|
|
| |
RMB'000 |
RMB'000 |
| |
|
|
| Cash flow from operating activities |
|
|
| Profit before tax |
57,601 |
42,445 |
| Adjustments: |
|
|
| - Property, plant and equipment written off |
427 |
434 |
| - Depreciation of property, plant and equipment |
20,552 |
12,427 |
| - Depreciation of investment property |
435 |
37 |
| - Amortization of land use rights |
698 |
689 |
| - Loss on disposal of property, plant and equipment |
84 |
– |
| - Writeback allowances for inventory obsolescence |
(215) |
(342) |
| - Allowance for doubtful trade receivables |
1,241 |
1,784 |
| - Write back for doubtful trade receivables |
(785) |
(238) |
| - Unrealised foreign exchange loss |
– |
37 |
| - Interest expense |
9,071 |
4,146 |
| - Interest income |
(621) |
(1,576) |
|
|
|
| Operating profit before working capital changes |
88,488 |
59,843 |
| Decrease in inventories |
1,552 |
2,738 |
| Increase in trade receivables |
(14,374) |
(10,309) |
| Decrease in other receivables and prepayments |
3,804 |
21,383 |
| Decrease in amount due from a related party (trade) |
– |
71 |
| (Decrease)/increase in amount due to a director |
(183) |
725 |
| Increase in trade payables |
56,123 |
5,427 |
| Decrease in other payables and accruals |
(76,856) |
(3,535) |
|
|
|
| |
|
|
| Cash generated from operations |
58,554 |
76,343 |
| Interest paid |
(9,071) |
(4,146) |
| Interest received |
621 |
1,576 |
| Income taxes paid |
(7,199) |
(5,409) |
|
|
|
| Net cash generated from operating activities |
42,905 |
68,364 |
|
|
|
| |
|
|
| Cash flow from investing activities |
|
|
| Additions to land use rights |
– |
(1,172) |
| Purchase of property, plant and equipment |
(68,741) |
(149,853) |
| Proceeds from disposal of property, plant and equipment |
65 |
– |
|
|
|
| Net cash used in investing activities |
(68,676) |
(151,025) |
|
|
|
|
|
|
| Cash flow from financing activities |
|
|
| Dividends paid |
– |
(8,040) |
| Repayment of bank term loans |
(75,458) |
(33,000) |
| Proceeds from bank term loans |
152,300 |
73,000 |
| (Repayment to)/advance from related parties (non-trade) |
(396) |
455 |
| (Increase)/decrease in fixed deposits pledged |
(32,579) |
1,500 |
|
|
|
| Net cash from financing activities |
43,867 |
33,915 |
|
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|
|
|
| |
|
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| Net increase/(decrease) in cash and cash equivalents |
18,096 |
(48,746) |
| Cash and cash equivalents at beginning of the year |
7,551 |
56,131 |
| Effects of exchange rate changes in cash and cash equivalents |
– |
166 |
| |
|
|
|
|
|
| Cash and cash equivalents at end of the year |
25,647 |
7,551 |
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More Information |
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