HESHUN HOLDINGS<00285> - Results Announcement (Summary)
Heshun Holdings Company Limited announced on 26/9/2001:
(stock code: 285)
Year end date: 31/12/2001
Currency: RMB (Unaudited)
(Unaudited) Last
Current Corresponding
Period Period
from 1/1/2001 from 1/1/2000
to 30/6/2001 to 30/6/2000
('000) ('000)
Turnover : 305,933 245,748
Profit/(Loss) from Operations : 94,263 90,753
Finance cost, net : (10,361) (10,457)
Share of Profit/(Loss) of Associates : - -
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 72,539 74,501
% Change over Last Period : -2.6%
EPS/(LPS)-Basic : RMB0.039 RMB0.053
-Diluted : N/A N/A
Extraordinary (ETD) Gain/(Loss) : - -
Profit/(Loss) after ETD Items : 72,539 74,501
Interim Dividend per Share : NIL N/A
(Specify if with other options) : - -
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
Remarks:
1. 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 "Reorganisation") as set out in the Prospectus (the
"Prospectus") of the Company dated 31 October 2000. As a result of the
Reorganisation, 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 condensed financial statements and its comparative figures for the six
months ended 30 June 2001 and 2000 have been accounted for on the basis of
merger accounting, under which the consolidated financial statements have
been prepared as if the Company had been the holding company of the other
companies comprising the Group throughout the relevant periods, 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 period are consolidated from or to
their effective dates of acquisition or disposal. Significant intra-group
transactions and balances have been eliminated on consolidation.
2. Earnings per share
The calculation of basic earnings per share for the six months ended 30
June 2001 is based on the profit attributable to shareholders of
approximately RMB72,539,000 and on ordinary shares of 1,860,000,000 in
issue during the period.
Pro forma earnings per share for the six months ended 30 June 2000 had
been prepared on the assumption that the 1,395,000,000 shares (after
taking into consideration the capitalization issue of 1,393,000,000
shares) had been issued immediately preceding the placing and new issue of
465,000,000 shares and the profit attributable to shareholders of
approximately RMB74,501,000.
Diluted earnings per shares for the six months ended 30 June 2001 and 2000
were not presented because there were no dilutive potential ordinary
shares in existence during the relevant periods.
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