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|
 |
Financial Statements |
| The financial information is taken from report
2008. |
|
|
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 |
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More Information |
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