BEIJING YANHUA<00325> - Results Announcement
Sinopec Beijing Yanhua Petrochemical Company Limited announced on 11/4/2003:
(stock code: 00325 )
Year end date: 31/12/2002
Currency: RMB
Auditors' Report: Unqualified
(Audited )
(Audited ) Last
Current Corresponding
Period Period
from 1/1/2002 from 1/1/2001
to 31/12/2002 to 31/12/2001
Note ('000 ) ('000 )
Turnover : 9,443,061 5,975,255
Profit/(Loss) from Operations : 541,558 (350,644)
Finance cost : (210,830) (59,579)
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : 209,099 (272,467)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : 0.062 (0.081)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : 209,099 (272,467)
Final Dividend : NIL NIL
per Share
(Specify if with other : N/A N/A
options)
B/C Dates for
Final Dividend : N/A
Payable Date : N/A
B/C Dates for Annual
General Meeting : 28/5/2003 to 27/6/2003 bdi.
Other Distribution for : N/A
Current Period
B/C Dates for Other
Distribution : N/A
Remarks:
1. Turnover for the year ended 31 December 2001 was restated as follows:
RMB'000
Turnover as previously reported 5,954,526
Add: Business tax and surcharges reclassified from turnover into cost of
sales 20,729
----------
Turnover as restated 5,975,255
==========
RMB'000
2. Loss from operations as previously reported:
- Operating loss (266,605)
- Other expenses, net (100,295) (366,900)
----------
Less: Reversal of the amortisation of land use rights in 2001
16,256
----------
Loss from operations as restated (350,644)
==========
Effective 1 January 2002, the Company changed its accounting policy with
respect to land use rights. Land use rights are now carried at historical
cost less accumulated amortisation rather than at its revalued amount.
This change has been accounted for retrospectively by restating
comparatives and adjusting the opening balances of retained earnings and
shareholders' equity at 1 January 2001. The effect of the change is a
decrease in amortisation expense of RMB 16,256,000 for 2002 and RMB
16,256,000 for 2001.
3.
RMB'000
Loss after taxation and minority interest as previously reported
(283,359)
Less: Reversal of the amortisation of land use rights in 2001
16,256
Add: Deferred tax effect on the reversal of amortisation
(5,364)
---------
Loss after taxation and minority interest as restated
(272,467)
==========
4 The calculation of basic earnings/(loss) per share is based on the
profit/(loss) attributable to shareholders of RMB 209,099,000 (2001
(restated): Loss of RMB 272,467,000) and the weighted average number
shares of 3,374,000,000 (2001: 3,374,000,000) during the year.
Diluted earnings per share is not presented as there were no dilutive
potential ordinary shares in existence during the years ended 31 December
2002 and 2001.
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