Listed Company Information
 

CHINA RES CMENT<00712> - Results Announcement

China Resources Cement Holdings Limited announced on   9/9/2004:
(stock code: 00712 )
Year end date: 31/12/2004
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee

                                                        (Unaudited )
                                     (Unaudited )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 1/1/2004      from 13/3/2003 
                                     to 30/6/2004       to 30/6/2003  
                               Note  ('000      )       ('000      )
Turnover                           : 671,270            N/A               
Profit/(Loss) from Operations      : 74,612             N/A               
Finance cost                       : (9,945)            N/A               
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       : 45,186             N/A               
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : 0.125              N/A               
         -Diluted (in dollars)     : 0.124              N/A               
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : 45,186             N/A               
Interim Dividend                   : Nil                N/A               
  per Share                                                               
(Specify if with other             : N/A                N/A               
  options)                                                                
                                                                          
B/C Dates for 
  Interim Dividend                 : N/A          
Payable Date                       : N/A       
B/C Dates for (-)            
  General Meeting                  : N/A          
Other Distribution for             : N/A           
  Current Period                     
                                     
B/C Dates for Other 
  Distribution                     : N/A          

Remarks:


(1)     RESULTS ANNOUNCEMENT FOR THE LAST CORRESPONDING PERIOD
There is a change of presentation in the Result Announcement Form in the 
current period. As the Company did not have any income or expense for the 
interim result for the last corresponding period, the pro forma combined 
financial information was presented in the Results Announcement Form last 
year. In the current year, the Result Announcement Form for the interim 
result presents the consolidated financial information of the Group and 
the pro forma combined financial information is presented in note (4) as 
below.  The change is merely a change of presentation and there is no 
change in any figures reported in the Results Announcement Form submitted 
previously for the last corresponding period.

(2)     PROFIT FROM OPERATIONS


                                Unaudited       Unaudited
                                Current Period  Last Corresponding
                                from 1/1/2004   Period from
                                to 30/6/2004    13/3/2003
                                                to 30/6/2003
                                HK$'000         HK$'000

Profit from operations is arrived at after charging (crediting):                
                                45,890          -
Depreciation and amortisation on fixed assets   
Amortisation of goodwill        2,561           -
Release of negative goodwill to income  
                                (3,726)         -
                                ===================

(3)     EARNINGS PER SHARE
The calculation of basic and diluted earnings per share is based on the 
following data:

                                Unaudited       Unaudited
                                Current Period  Last Corresponding
                                from 1/1/2004   Period from
                                to 30/6/2004    13/3/2003
                                                to 30/6/2003
                                HK$'000         HK$'000
Earnings
Profit attributable to shareholders for the purpose of calculating basic 
and diluted earnings per share  45,186          -
                                ===================

Number of shares
Weighted average number of shares for the purpose of calculating basic 
earnings per share              362,807,461     2
Effect on dilutive potential ordinary shares on share options
                                1,218,203       -
                                -------------------
Weighted average number of shares for the purpose of calculating diluted 
earnings per share              364,025,664     2
                                ====================

(4)     ADDITIONAL FINANCIAL INFORMATION - PRO FORMA COMBINED FINANCIAL 
INFORMATION
        The Company was incorporated as an exempted company with limited 
liability in the Cayman Islands on 13 March 2003 under the Companies Law 
(2002 Revision) of the Cayman Islands.  Pursuant to a reorganisation 
scheme (the "Group Reorganisation") and the acquisition of Flavour Glory 
Limited, Clear Bright Investments Limited, Full Sincere Limited and 
Goodsales Investments Limited (the "Acquisitions"), a group structure was 
formed which comprised the Company and the companies under the Group 
Reorganisation and Acquisitions (the "Enlarged Group"). The Company became 
the holding company of the Enlarged Group on 22 July 2003. Details of the 
Group Reorganisation and Acquisitions are set out in the Company's 
prospectus dated 26 June 2003.

In order for a proper appraisal of the performance of the Company and its 
subsidiaries, the pro forma combined profit and loss account of the Group 
which included the results of the companies comprising the Enlarged Group 
and subsidiaries acquired after 22 July 2003 has been prepared as if the 
Enlarged Group had been in existence throughout the two periods ended 30 
June 2004, or since their respective dates of incorporation or 
establishment, where this is a shorter period. Subsidiaries acquired after 
22 July 2003 are accounted for under acquisition accounting.

Had the Company been required to present its pro forma combined financial 
information in this Results Announcement Form, the relevant financial 
information, which are included for information purpose only, would be as 
follows: 

                        Unaudited               Unaudited
                        Pro Forma Combined      Pro Forma Combined
                        Current Period          Last Corresponding Period
                        from 1/1/2004           from 1/1/2003 to
                        to 30/6/2004            30/6/2003
                        ------------------------------------------------
                        HK$'000                 HK$'000
Turnover        :       671,270                 460,663
Profit / (Loss) from Operations :       
                        73,613                  35,503
Finance cost    :       (9,945)                 (5,779)


Share of Profit / (Loss) of Associates  :       -               504
Share of Profit / (Loss) of Jointly Controlled Entities:        
                                                -               -
Profit / (Loss) after Taxation & MI     :       44,187          21,574
% Change over Last Period               :       104.8%          
EPS / (LPS) - Basic (in Dollars)        :       HK$0.122        HK$0.059        
                    - Diluted (in Dollars):     HK$0.121        N/A
Extraordinary ("ETD") Gain / (Loss)     :       -               -
Profit  / (Loss) after ETD Items        :       44,187          21,574


(a)     PRINCIPAL ACCOUNTING POLICIES AND CHANGES
The pro forma combined financial information has been prepared under the 
historical cost convention. The principal accounting policies are 
consistent with those followed in the preparation of the Additional 
Financial Information - Pro Forma Combined Financial Information for the 
year ended 31 December 2003, as set out in the Company's Annual Report for 
2003

(b)     PROFIT FROM OPERATIONS

                                        Unaudited
                                        Pro Forma Combined
                                        Six months ended 30 June

                                        2004            2003    
                                        HK$'000         HK$'000

Profit from operations is arrived at after charging (crediting):                
Depreciation and amortisation on fixed assets           
                                        45,890          33,243
Amortisation of goodwill                162             -
Release of negative goodwill to income  (328)           -
                                        =====================

(c)   EARNINGS PER SHARE
The calculation of basic and diluted earnings per share is based on the 
data:

                                        Unaudited
                                        Pro Forma Combined
                                        Six months ended 30 June
                                        2004            2003
                                        HK$'000         HK$'000

Earnings                                
                                
Net profit for the purpose of calculating basic and diluted earnings per 
share                                   44,187          21,574
                                        ========================
                                
Number of shares                                
                                
Weighted average number of ordinary shares for the purpose of calculating 
basic earnings per share (Note)         362,807,461     362,807,461
                
Effect on dilutive potential ordinary shares on share options           
                                        1,218,203       -               
                                        ---------------------------
Weighted average number of ordinary shares for the purpose of calculating 
diluted earnings per share              364,025,664     362,807,461
                                        ============================

Note:   It was calculated on the assumption that 362,807,461 shares were 
in issue throughout the period as if the Group Reorganisation and the 
Acquisition had been completed on 1 January 2003.