FUDANZHANGJIANG<08231> - Results Announcement (Q3, 2002, Summary)
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. announced on 01/11/2002:
(stock code: 8231)
Year end date :31/12/2002
Currency :RMB
Auditors' report :N/A
Review of 3rd Quarterly Report by :Audit Committee
Important Note :
This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at
http://www.hkgem.com
(Unaudited) (Unaudited)
Current Last
Corresponding
Period Period
from 01/01/2002 from 01/01/2001
to 30/09/2002 to 30/09/2001
RMB'000 RMB'000
Turnover : 15,423 21,606
Profit/(Loss) from Operations : 1,328 11,562
Finance cost : 0 0
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : 1,426 9,857
% Change Over the Last Period : -85.53 %
EPS / (LPS)
Basic (in dollar) : RMB 0.0025 RMB 0.0186
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : 1,426 9,857
3rd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 3rd Quarterly Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
For and on behalf of
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd.
Signature :
Name : Xu Yunlan
Title : Company Secretary
Responsibility statement
The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading. The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard
to the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.
Remarks:
1. General
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. Was
established in the PRC on 11 November, 1996 as a limited liability
company with an initial registered capital of RMB5,295,000.
Pursuant to a series of capital injections on 10 November, 1997, 11
May, 2000, and 12 September, 2000 from the existing or the then
existing shareholders of the Company and the capitalisation of
reserves of the Company on 11 December, 1997 and 20 October, 2000,
the registered capital of the Company was increased from RMB5,295,000
to RMB53,000,000.
On 8 November, 2000, the Company was transformed into a joint stock
company with limited liability.
On 20 January, 2002, all of the shares of the Company, being
53,000,000 ordinary shares with a par value of RMB1.00 each, were
subdivided into 530,000,000 ordinary shares with a par value of
RMB0.10 each.
On 13 August, 2002, the Company commenced the trading of the newly
issued 198,000,000 ordinary shares of Rmb0.1 each on the GEM of the
Stock Exchange, including 18,000,000 H Shares converted from Domestic
Shares. Therefore, the registered capital of the Company was
increased to Rmb 71,000,000.
As at the date of this report, the Company has a direct interest of
62.5% in a subsidiary, Shanghai Morgan-Tan International Center for
Life Sciences, Co., Ltd.
2. Financial review
The Group is principally engaged in research, development and
selling of in-house generated bio-pharmaceutical know-how, carrying
out contracted research for customers, manufacturing and selling of
diagnostic reagent and the provision of related ancillary services.
For the nine months ended 30 September, 2002, turnover of the Group
amounted to approximately RMB15.4 million, compared to RMB21.6
million for the corresponding period in 2001. The decrease in
turnover is mainly due to the decrease in technology transfer revenue
recognised by RMB7.0 million as compared with the corresponding
period in 2001.
The total expenses of the Group for the nine months ended 30
September, 2002 was approximately RMB19.8 million, compared with
RMB17.7 million for the corresponding period in 2001. The increase
was a result of more resources being devoted to research and
development activities.
The Group recorded a profit before taxation of approximately RMB1.3
million for the nine months ended 30 September, 2002, compared with a
profit before taxation of approximately RMB11.6 million for the
corresponding period in 2001.
3. Taxation
The Company is subject to the Income Tax of the PRC and the normal
income tax rate applicable is 33%. As the Company is recognised as a
New and High Technology Enterprise, it is entitled to a reduced
Income Tax rate of 15%. Accordingly, the Company is subject to
Income Tax at a rate of 15%.
The subsidiary is subject to the Income Tax Law of the PRC and the
income tax rate applicable is 33%. No provision for income tax has
been made for the subsidiary for the three months and nine months
ended 30 September, 2002 respectively and the corresponding periods
as it has no taxable income during those periods.
4. Earnings per share
The calculation of the basic earnings per share for the three months
and nine months ended 30 September, 2002 were based on the unaudited
profit attributable to shareholders of approximately RMB344,000 and
RMB1,426,000 (2001: RMB11,776,000 and RMB9,857,000) and the weighted
average of 625,869,565 shares and 562,307,692 shares (2001:
530,000,000 shares and 530,000,000 shares) in issue during the three
months and nine months ended 30 September, 2002 as if the subdivision
of the Company's shares, being 53,000,000 ordinary shares with a par
value of Rmb1.00 each subdivided into 530,000,000 ordinary shares
with a par value of RMB0.10 each on 20 January, 2002, had taken place
at the beginning of the respective periods.
Diluted earnings per share has not been calculated for the three
months and nine months ended 30 September, 2002 respectively and the
corresponding periods as there were no dilutive potential ordinary
shares during those periods.
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