HESHUN HOLDINGS<0285> - Results Announcement
Heshun Holdings Company Limited announced on 9/4/2001:
(stock code: 285)
Year end date: 31/12/2000
Currency: RMB (Audited)
(Audited) Last
Current Corresponding
Period Period
from 1/1/2000 from 1/1/1999
to 31/12/2000 to 31/12/1999
('000) ('000)
Turnover : 633,985 491,512
Profit/(Loss) from Operations : 226,018 168,956
Finance cost : (23,538) (24,505)
Share of Profit/(Loss) of Associates : (22) -
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 182,421 121,131
% Change over Last Period : +50.6%
EPS/(LPS)-Basic : RMB0.13 RMB0.09
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 182,421 121,131
Final Dividend per Share : NIL N/A
(Specify if with other options) : - -
B/C Dates for Final 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:
Group Reorganisation and basis of presentation
The Company was incorporated in Bermuda on 28 June 2000 as an exempted
company with limited liability under the Companies Act 1981 of Bermuda. In
preparing for the listing of the shares of the Company on the Stock
Exchange of Hong Kong Limited ("Stock Exchange"), the Company and its
subsidiaries comprising the Group under common control underwent a
reorganization (the "Reorganization") as set out in the Prospectus (the
"Prospectus") of the Company dated 31 October 2000. As a result of the
Reorganization, the Company became the ultimate holding company of the
Group on 25 September 2000. The Company's shares have been listed on the
Stock Exchange since 15 November 2000.
The consolidated financial statements have been accounted for on the basis
of merger accounting, under which the consolidated financial satements
have been prepared as if the Company had been the holding company of the
other companies comprising the Group throughout the year ended 31 December
2000, rather than from the date on which the Reorganisation was completed.
Except for the above-mentioned companies, the results of subsidiaries
acquired or disposed of during the year are consolidated from or to their
effective dates of acquisition or disposal.
Significant intra-group transations and balances have been eliminated on
consolidation.
The comparative figures for the year ended 31 December 1999 are presented
on the same basis.
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