VP GREENCHIP<01186> - Results Announcement
Value Partners China Greenchip Fund Limited announced on 18/09/2006:
(stock code: 01186 )
Year end date: 31/12/2006
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee
(Unaudited )
(Unaudited ) Last
Current Corresponding
Period Period
from 01/01/2006 from 01/01/2005
to 30/06/2006 to 30/06/2005
Note ('000 ) ('000 )
Turnover : 11,787 9,388
Profit/(Loss) from Operations : 147,409 12,806
Finance cost : 0 0
Share of Profit/(Loss) of
Associates : 0 0
Share of Profit/(Loss) of
Jointly Controlled Entities : 0 0
Profit/(Loss) after Tax & MI : 123,149 10,678
% Change over Last Period : +1,053.3 %
EPS/(LPS)-Basic (in dollars) : 4.0179 0.3478
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit/(Loss) after ETD Items : 123,149 10,678
Interim Dividend : Nil Nil
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. Basis of preparation
This condensed interim financial information for the half-year ended 30th
June 2006 has been prepared in accordance with IAS 34 "Interim financial
reporting". The interim condensed financial report should be read in
conjunction with the annual financial statements for the year ended 31st
December 2005.
The accounting policies adopted are consistent with those of the annual
financial statements for the year ended 31st December 2005.
The following amendments to standards are mandatory for financial year
ending 31st December 2006:
- Amendment to IAS 39, Amendment "The fair value option", effective
for annual periods beginning on or after 1st January 2006. This amendment
does not have any impact on the classification and valuation of the Fund's
financial instruments classified as at fair value through profit or loss
prior to 1st January 2006 as the Fund is able to comply with the amended
criteria for the designation of financial instruments at fair value
through profit or loss.
The following new standard has been issued but is not effective for 2006
and has not been early adopted.
- IFRS 7 "Financial instruments: Disclosures", effective for annual
periods beginning on or after 1st January 2007. The Fund assessed the
impact of IFRS 7 and the amendment to IAS 1 and concluded that the main
additional disclosures will be the sensitivity analysis to market risk and
capital disclosures required by the amendment to IAS 1. The Fund will
apply IFRS 7 and the amendment to IAS 1 from annual periods beginning 1st
January 2007.
The condensed balance sheet presents assets and liabilities in increasing
order of liquidity and does not distinguish between current and non-
current items. All the Fund's assets and liabilities are held for the
purpose of being traded or are expected to be realised within 1 year.
No additional disclosure is included in relation to segment reporting, as
the Fund's activities are limited to a single business segment. The Fund
is organised into a single business segment, focusing on achieving medium
-term capital growth through investing in companies established in Greater
China or which derive a majority of their revenue from business related to
Greater China, whether in the form of direct investment or trade.
2. Turnover
Turnover includes dividends, interest on financial assets at fair value
through profit and loss, interest on bank deposits and other income.
3. The turnover and profit from operating activities of HK$11,787,490
(2005: HK$9,388,074) and HK$147,409,395 (2005: HK$12,806,019)
respectively, were all generated from continuing operations.
4. Basic earnings per share
The basic earnings per share is calculated by dividing the profit for the
period of HK$123,148,598 (2005: HK$10,677,759) by the weighted average
number of shares in issue during the period, being 30,650,000 (2005:
30,699,834).
|