FUDANZHANGJIANG<08231> - Results Announcement (Q1, 2006, Summary)
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. announced on 10/05/2006:
(stock code: 08231 )
Year end date :31/12/2006
Currency :RMB
Auditors' report :N/A
1st 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
(Unudited) (Unadited)
Current Last Corresponding
Period Period
from 01/01/2006 from 01/01/2005
to 31/03/2006 to 31/03/2005
RMB'000 RMB'000
Turnover : 3,102 4,419
Profit/(Loss) from Operations : (7,266) (5,540)
Finance cost : 0 0
Share of Profit/(Loss) of Associates : (421) (229)
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : (7,474) (4,950)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (RMB 0.0105) (RMB 0.007)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (7,474) (4,950)
1st Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st 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 consolidated financial statements of the Group have been
prepared in accordance with International Financial
Reporting Standards ("IFRS"). These financial statements
are prepared under the historical cost convention, except
that the available-for-sale investments are shown at fair
value.
The results are unaudited but have been reviewed by the Audit Committee.
2. Financial review
For the three months ended 31 March 2006, the Group recorded
a turnover of approximately RMB3,102,000, whereas the figure
for the same period in 2005 was RMB4,419,000.
Of the total turnover of the Group for the first quarter of
2006, approximately RMB2,852,000 (or 92% of total turnover)
was derived from the sale of medical diagnostic products and
the provision of related ancillary services, and RMB250,000
(or 8% of total turnover) represented the income of technology
transfer. In contrast, out of the total turnover for the same
period last year, RMB3,219,000 (or 73% of total turnover) came
from the sales of medical diagnostic products, and RMB1,200,000
(or 27% of total turnover) from the income of technology transfer.
Turnover of the Group for the first quarter 2006 reduced by
30% from the level of the same period last year, of which,
the sale of medical diagnostic products decreased by 11% and
the income of technology transfer decreased by 79%
respectively comparing with the same period last year.
Cost of sales of the Group for the three months ended 31 March
2006 amounted to approximately RMB2,915,000, compared to
RMB3,858,000 for the same period in 2005.
Operating loss of the Group within the period under review
was approximately RMB7,266,000, whereas the figure for the
corresponding period last year was RMB5,540,000. The reasons
for the increased loss include the dropping turnover and the
increase of the various expenses. The Group has several R&D
projects entering into the clinical research period lately,
which makes the R&D expenses increased significantly than that
of the same period last year.
For the three months ended 31 March 2006, the Group recorded
a loss attributable to shareholders of the Company of
approximately RMB7,474,000, compared to a loss of
approximately RMB4,950,000 for the same period in 2005.
3. Loss per share
The calculation of the loss per share for the three months
ended 31 March 2006 was based on the unaudited loss
attributable to shareholders of the Company of approximately
RMB7,474,000 (unaudited loss attributable to shareholders of
the Company for the three months ended 31 March 2005 of
approximately RMB4,950,000) and total shares issued of
710,000,000 shares as at 31 March 2006 (as at 31 March 2005:
710,000,000 shares).
Diluted loss per share has not been calculated for the three
months ended 31 March 2006 and 31 March 2005 as there were
no dilutive potential ordinary shares during those periods.
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