SHANDONG MOLONG<08261> - Results Announcement (Q3, 2006, Summary) Shandong Molong Petroleum Machinery Company Limited announced on 08/11/2006: (stock code: 08261 ) Year end date :31/12/2006 Currency :RMB Auditors' report :N/A 3rd 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 1/1/2006 from 1/1/2005 to 30/9/2006 to 30/9/2005 RMB'000 RMB'000 Turnover : 724,996 520,459 Profit/(Loss) from Operations : 127,658 92,254 Finance cost : (6,976) (2,538) 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 : 86,739 58,080 % Change Over the Last Period : +49.34% EPS / (LPS) Basic (in dollar) : RMB 0.134 RMB 0.097 Diluted (in dollar) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit (Loss) after ETD Items : 86,739 58,080 3rd Quarter Dividends per Share : NIL NIL (specify if with other options) : N/A N/A B/C Dates for 3rd Quarter Dividends : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A 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. General information and basis of preparation The Company was incorporated as a joint stock company with limited liability in the People'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 5 July 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 Financial Reporting Standards ("HKFRSs") (which also include Hong Kong Accounting Standards ("HKASs") and Interpretations) issued by the Hong Kong Institute of Certified Public Accountants, accounting principles generally accepted in Hong Kong and the disclosure requirements of chapter 18 of the Rules Governing the Listing of Securities on the Growth Enterprise Market of the Stock Exchange of Hong Kong Limited (the "Stock Exchange") (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 Group's annual financial statements for the year ended 31 December, 2005. The Group has adopted the following standards that have been issued and effective for the periods beginning on or after 1 January 2006. The adoption of such standards did not have any material effect on these financial statements. HKAS 19 (Amendment) Actuarial Gains or Losses, Group Plans and Disclosures HKAS 21 (Amendment) Net Investment in a Foreign Operation HKAS 39 (Amendment) The Fair Value Option The Group has not early adopted the following standards that have been issued but not yet effective. The adoption of such standards will not result in substantial changes to the Group's accounting policies. HKAS 1 (Amendment) Capital Disclosures HKFRS 7 Financial Instruments - Disclosures 2. Earnings per share The calculation of the basic earnings per share is based on the profit attributable to shareholders of approximately RMB 36,315,000 and RMB 86,739,000 for the three months and nine months ended 30 September 2006 (2005: RMB 21,524,000 and RMB 58,080,000) and on the weighted average number of approximately 647,998,000 (2005: 596,174,000) shares in issue during the period. Diluted earnings per share is not presented for the three months and nine months ended 30 September 2006 and 2005 as there were no potential dilutive securities in existence during the relevant periods. |