CHANGCHUNDAXING<08067> - Results Announcement (Final, 2002, Summary)
Changchun Da Xing Pharmaceutical Company Limited announced on 14/3/2003:
(stock code: 08067)
Year end date :31/12/2002
Currency :RMB
Auditors' report :Unqualified
Review of Quarterly Report by :N/A
Important Note :
This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at
http://www.hkgem.com
(Audited) (Audited)
Current Last
Corresponding
Period Period
from 1/1/2002 from 1/1/2001
to 31/12/2002 to 31/12/2001
RMB'000 RMB'000
Turnover : 71,220 63,714
Profit/(Loss) from Operations : 39,949 30,366
Finance cost : (549) (1,131)
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : 34,669 24,312
% Change Over the Last Period : +42.60 %
EPS / (LPS)
Basic (in dollar) : RMB 0.072 RMB 0.061
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 34,669 24,312
Final Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for Final Dividends : N/A
Payable Date : N/A
B/C Dates for Annual General Meeting :14/04/2003 to 14/05/2003 bdi.
Other Distribution for Current Period: NIL
B/C Dates for Other Distribution : N/A
(bdi: both days inclusive)
For and on behalf of
Changchun Da Xing Pharmaceutical Company Limited
Signature :
Name : Yau Chung Hang
Title : Qualified Accountant
Responsibility statement
The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading. The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard
to the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.
Remarks:
1. Basis of presentation
The Company was incorporated as a joint stock limited company
in the People's Republic of China ("PRC") on 27 December 1993 under
the provisions of the PRC Company Law. The Company's H shares were
listed on the Growth Enterprise Market of The Stock Exchange of
Hong Kong Limited on 28 June 2002. Also on 19 July 2002,
the over-allotment option was exercised and accordingly the
company alloted and issued 21,000,000 new H shares
(" the Overlallotment Shares") at HK$ 0.45 per share.
The Company is principally engaged in the manufacture and sale of
medicine in the PRC.
The principal accounting policies adopted in preparing the
unaudited results conform with accounting standards issued by the
Hong Kong Society of Accountants.
2.Turnover
Turnover represents the invoiced value of goods sold, net of
value-added tax, trade discounts and returns.
3. Taxation
Year ended 31 December
2002 2001
RMB'000 RMB'000
Hong Kong 0 0
PRC 4,731 4,923
------- -------
Tax charge for the period 4,731 4,923
======= =======
The PRC income tax is computed according to the relevant laws and
regulations in the PRC. The applicable income tax rate was 15%
(2001:15%).
4. Earnings per share
The calculation of basic earnings per share is based on the
audited net profit attributable to shareholders for the year
ended 31 December 2002 of approximately RMB 34,669,000
(2001: RMB 24,312,000) and on the weighted average of 481,276,712
shares in issue during the year ended 31 December 2002
(2001: 400,000,000 shares)
No dilutive earnings per share is shown for the year ended
31 December 2002 as there were no diluive potentail shares.
5. Final dividend
The Board does not recommend the payment of a final dividend for
the year ended 31 December 2002 (2001: nil)
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