FUDANZHANGJIANG<08231> - Results Announcement (Q3, 2005, Summary)
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. announced on 10/11/2005:
(stock code: 08231 )
Year end date :31/12/2005
Currency :RMB
Auditors' report :N/A
3rd Quarterly Report Reviewed 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 01/01/2005 from 01/01/2004
to 30/09/2005 to 30/09/2004
RMB'000 RMB'000
Turnover : 16,385 9,382
Profit/(Loss) from Operations : (11,300) (14,503)
Finance cost : 0 0
Share of Profit/(Loss) of Associates : (694) (1,579)
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : (9,977) (13,409)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (RMB 0.0141) (RMB 0.0189)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (9,977) (13,409)
3rd Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 3rd Quarter 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
(bdi: both days inclusive)
For and on behalf of
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd.
Signature :
Name : Wang Rui
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. Basis of preparation
The unaudited consolidated financial statements have been prepared in
accordance with International Financial Reporting Standards ("IFRS"),
including International Accounting Standards and Interpretations issued
by the International Accounting Standards Board. They have been
prepared under the historical cost convention except that the
available-for-sale investments are adjusted to fair value.
The results are unaudited and have been reviewed by the Audit Committee.
2. Financial review
For the nine months ended 30 September 2005, the Group recorded
a turnover of approximately RMB16,385,000, which is an
increase of 75% as compared with the same period in 2004.
RMB7,355,000 (or 45% of total turnover) was from the sales
of medical diagnostic products and the provision of related
auxiliary services. This represents a 42% increase from the
sales of medical diagnostic products of the corresponding
period last year. The remaining RMB9,030,000 (or 55% of total
turnover) came from technology transfer and transfer of
technical services. This represents an increase of 115% for
the same item as compared with the corresponding period last
year.
For the nine months ended 30 September 2005, cost of sales
of the Group was approximately RMB8,155,000, an increase of
25% from the same period last year. With the strict application
of the GMP standard, the Group has increased the expenditure
on product quality control, while at the same time efficiently
maintained the various production expenses within a
reasonable range. This resulted in a much lower increase of
cost of sales than that of turnover. Therefore, the gross
profit margin has risen to 50% from last comparative period's
31%.
For the review period, operating loss of the Group was
approximately RMB11,300,000. This is contrasted with the
operating loss of RMB14,503,000 for the Group for the same
period last year. The loss dropped by 22% comparatively. The
operating loss is due to a number of research and development
("R&D") projects entering into the clinical trial stages
during the year, the launch of a new product calling for an
active market entry strategy, more investment into human and
financial resources, which led to increased research and
development costs, distribution costs and other operating
expenses. In addition, the increase in other operating
expenses included the book value of exchange loss due to the
appreciation of the RMB. It is noted that administrative
expenses decreased as compared to the corresponding period
last year.
The Group recorded a loss attributable to shareholders of
approximately RMB9,977,000 for the nine months ended 30
September 2005, whereas the loss attributable to shareholders
for the same period last year was RMB13,409,000.
3. Loss per share
The calculation of the loss per share for the three months
ended 30 September 2005 and 30 September 2004 were based on
the unaudited loss of approximately RMB198,000 (three months
ended 30 September 2004: loss attributable to shareholders
of approximately RMB5,270,000) and total shares in issue of
710,000,000 shares (three months ended 30 September 2004:
710,000,000 shares) during the three months ended 30 September
2005
The calculation of the loss per share for the nine months ended
30 September 2005 and 30 September 2004 were based on the
unaudited loss of approximately RMB9,977,000 (nine months
ended 30 September 2004: loss attributable to shareholders
of approximately RMB13,409,000) and total shares in issue of
710,000,000 shares (nine months ended 30 September 2004:
710,000,000 shares) during the nine months ended 30 September 2005.
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