BEIJING YANHUA<0325> - Results Announcement
Beijing Yanhua Petrochemical Company Limited announced on 24/8/1999:
(stock code: 325)
Year end date: 31/12/1999
Currency: RMB
Last
Current Corresponding
Period Period
from 1/1/1999 from 1/1/1998
to 30/6/1999 to 30/6/1998
('000) ('000)
Turnover/Interest Income : 2,795,819 2,514,331
Profit-Continuing Operations
- Operating Profit/(Loss) : 200,831 93,002
- Exceptional Items : N/A N/A
- Discontinued Operations : N/A N/A
Total Operating Profit/(Loss) : 200,831 93,002
Share of Profit/(Loss) of
Associated Companies : N/A N/A
Profit/(Loss) after Tax
& MI : 99,591 44,673
% Change over Last Period : +123%
EPS/(LPS)-Basic : RMB0.030 RMB0.013
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 99,591 44,673
Interim Dividend per H Share : Nil Nil
(Specify if with other options) : N/A N/A
B/C Dates for Interim Dividend : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : N/A
B/C Dates for Other Distribution : N/A
Remark:
1998 Comparative Figures
For the six months ended 30th June, 1998, as a result of the Company's
adoption of the Revised IAS NO. 12 which became operative for financial
statements covering periods beginning on or after 1st January, 1998, the
Company recognised a deferred tax liability of approximately
RMB376,154,000 arising from the initial recognition of assets and
liabilities acquired from the parent company pursuant to the restructuring
in preparation of the listing of the H shares of the Company in 1997. The
deferred tax liability is to be amortised as a credit to the deferred tax
expense in the profit and loss account over the remaining life of the
assets to which it relates.
In accordance with the Revised IAS No. 12, the Company recognised
deferred tax assets of approximately RMB38,762,000 as at 31st December,
1996 to the extent it is probable that taxable profits will be available
which the deferred tax assets can be utilised.
This change in accounting policy has been accounted for retroactively, and
therefore, the 1998 comparative figures have been restated to reflect the
above changes.
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