SHANDONG MOLONG<08261> - Results Announcement (Q2, 2005, Summary)
Shandong Molong Petroleum Machinery Company Limited announced on 11/08/2005:
(stock code: 08261 )
Year end date :31/12/2005
Currency :RMB
Auditors' report :N/A
2nd Quarterly Report Reviewed by :Audit Committee
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
(* Unaudited) (* Unaudited)
Current Last Corresponding
Period Period
from 1/1/2005 from 1/1/2004
to 30/6/2005 to 30/6/2004
RMB'000 RMB'000
Turnover : 323,866 215,706
Profit/(Loss) from Operations : 51,176 41,412
Finance cost : (1,677) (2,573)
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 : 36,556 25,060
% Change Over the Last Period : +45.87%
EPS / (LPS)
Basic (in dollar) : RMB 0.064 RMB 0.054
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 36,556 25,060
2nd Quarter Dividends per Share : RMB 0.02 RMB 0.02
(specify if with other options) : N/A N/A
B/C Dates for 2nd Quarter Dividends :03/09/2005 to 02/10/2005 bdi.
Payable Date : To be confirmed
B/C Dates for Special General Meeting :03/09/2005 to 02/10/2005 bdi.
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
(bdi: both days inclusive)
For and on behalf of
Shandong Molong Petroleum Machinery Company Limited
Signature :
Name : Chan Wing Nang, Billy
Title : Company Secretary
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 preparation
The Company was incorporated as a joint stock company with
limited liability in the Peopleˇ¦s Republic of China (the "PRC")
on 30 December 2001 and its H shares were listed on the
GEM (the "Listing") on 15 April 2004. On 16 August 2004, the
Company became a Sino Foreign Invested Joint Stock Limited.
The unaudited financial statements of the Group have been prepared
in accordance with Hong Kong Accounting Standard ("HKAS") 34
"Interim Financial Reporting" issued by the Hong Kong Institute
of Certified Public Accountants and the disclosure requirements
of the GEM Listing Rules.
The principal accounting policies used in the preparation of the
unaudited financial statements are consistent with those used in
the preparation of the Company's annual financial statements for the
year ended 31 December 2004, except that the Company has changed
certain of its accounting polcies following its adoption of new/
revised Hong Kong Financial Reporting Standards and Hong Kong
Accounting Standards ("new HKFRS") which are effective for
accounting periods commencing on or after 1 January 2005.
The Directors considered that the adoption of the new HKFRS has had
no material effect on how the results for the current or prior
accounting periods are prepared and presented, except HKAS 17
"Leases" as explained below.
The adoption of revised HKAS 17 has resulted in a changed of accounting
policy relating to the reclassification of lease premium for land from
fixed assets to operating leases. The up-front prepayments made for
the lease premium for land are expensed in the profit and loss account on
a straight line basis over the period of th lease or when there is
impairment, the impairment loss is expensed in the profit or loss account.
In prior years, the lease premium for land was accounted for at cost
less accumulated depreciation and accumulated impairment losses
and included in properties of fixed assets. HKAS 17 has been
applied retrospectively. The profit attributable to shareholders
for the six months ended 30 June 2004 has not been changed
in view of the adoption of this new accounting standard.
2. Earnings per share
The calculation of the basic earnings per share is based on
the profit attributable to shareholders of approximately
RMB 19,852,000 and RMB 36,556,000 for the three months and
six months ended 30 June 2005 ( 2004: RMB 13,288,000 and
RMB 25,060,000) and on the weighted average of approximately
569,832,000 (2004: 462,114,000) shares in issue during the period.
Diluted earnings per share is not presented for the three months
and six months ended 30 June 2005 and 2004 as there were
no potential dilutive securities in existence during the
relevant periods.
|