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Financial Statements

The financial information is taken from report 2008.
Years


2008 2007
RMB'000 RMB'000
     
Revenue 280,846 260,880
Cost of sales (204,737) (180,027)
Gross profit 76,109 80,853
Other operating income 9,899 161
Selling and distribution expenses (6,139) (5,361)
Administrative expenses (30,589) (18,430)
Other operating expenses (335) (430)
Finance income 1,576 721
Finance expenses (8,076) (1,810)
Finance expenses, net (6,500) (1,089)
Profit before tax 42,445 55,704
Income tax (6,910) (1,918)
Profit attributable to the equity holders of the Company 35,535 53,786
     
Earning per share (RMB cents)    
Basic 8.8 26.8
Diluted 8.8 26.8
     
2008 2007
RMB'000 RMB'000
 
EQUITY
Captial and reserves attributable to equity holders of the Company    
Share Capital 155,184 155,184
Translation reserve (193) (396)
Merger deficit (587) (587)
Statutory reserve fund 10,228 5,533
Retained earnings/(Accumulated loss) 117,008 94,208
TOTAL EQUITY 281,640 253,942
 
Property, plant and equipment 308,830 91,081
Land use rights 32,220 31,741
Investment in subsidiaries - -
 
Current assets
Inventories 21,649 24,045
Trade receivables 70,261 61,498
Other receivables and prepayments 36,756 58,139
Due from a related party (trade) - 71
Due from a related party (non-trade) 50 91
Due from subsidaries (non-trade) - -
Fixed deposits 35,000 46,500
Cash and bank balances 7,551 46,131
171,267 236,475
TOTAL ASSETS 512,317 359,297
 
Current liabilities
Trade payables 71,093 65,666
Other payables and accruals 95,820 18,565
Due to a director (non-trade) 1,281 556
Due to related parties (non-trade) 446 32
Due to subsidaries (non-trade) - -
Income tax payable 2,037 536
Bank term loans (secured) 60,000 20,000
TOTAL LIABILITIES 230,677 105,355
NET ASSETS 281,640 253,942
     
2008 2007
  RMB'000 RMB'000
 
Cash flows from operating activities
Profit before tax 42,445 55,704
Adjustments for:
Property, plant and equipment written off 434 -
Depreciation of property, plant and equipment 12,460 7,992
Amortisation of land use rights 693 337
Unrealised foreign exchange loss 37 792
Interest expense 4,146 1,222
Interest income (1,576) (721)
Operating profit before working capital changes 58,639 65,326
Inventories 2,396 (9,550)
Trade receivables (8,786) (21,329)
Other receivables and prepayments 21,383 (29,862)
Due from a related party (trade) 71 -
Trade payables 5,427 25,076
Other payables and accruals (3,532) 2,639
Cash generated from operations 75,598 32,300
Interest paid (4,146) (1,222)
Interest income received 1,576 721
Income taxes paid (5,409) (1,837)
Net cash from operating activities 67,619 29,962
     
Cash flows from investing activities
Additions to land use rights (1,172) (29,974)
Purchase of property, plant and equipment (149,853) (47,477)
Net cash used in investing activities (151,025) (77,451)
   
Cash flows from financing activities
Dividends paid (8,040) -
Net proceeds from issurance of new shares - 147,366
Repayment of bank term loans (33,000) (30,000)
Proceeds from bank term loans 73,000 45,000
Due to director 725 556
Due to shareholders - (32,909)
Advance from/(Repayment to) related parties (non trade) 455 (20,614)
Lifting/(Placement) of pledged fixed deposits 1,500 (26,800)
Net cash from financing activities 34,640 82,599
     
Net (decrease)/increase in cash and cash equivalents (48,766) 35,110
Cash and cash equivalents at beginning of the year 56,131 21,417
Effects of exchange rate changes in cash and cash equivalents 186 (396)
Cash and cash equivalents at end of the year 7,551 56,131
     



More Information
   
Sunmart Holdings Limited
112 Robinson Road #12-04 Singapore 068902
Tel: (65) 6220 9070
Fax: (65) 6223 9177

Email: enquiries@sunmartholdings.com.sg
Website: http://www.sunmartholdings.com.sg