FUDANZHANGJIANG<08231> - Results Announcement (Q2, 2006, Summary)
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. announced on 09/08/2006:
(stock code: 08231 )
Year end date :31/12/2006
Currency :RMB
Auditors' report :N/A
2nd 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 30/06/2006 to 30/06/2005
RMB'000 RMB'000
Turnover : 7,504 6,460
Profit/(Loss) from Operations : (5,064) (5,689)
Finance cost : 0 0
Share of Profit/(Loss) of Associates : (679) (798)
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : (10,552) (9,779)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (RMB 0.0149) (RMB 0.0138)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (10,552) (9,779)
2nd Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 2nd 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 interim financial report has been prepared in
accordance with IAS 34. The accounting policies adopted are
consistent with those of the annual financial statements for
the year ended 31 December 2005. As described in the annual
financial statements for the year ended 31 December 2005.
The results are unaudited but have been reviewed by the Audit Committee.
2. Financial review
For the six months ended 30 June 2006, the Group recorded a
turnover of approximately RMB7,504,000, the comparative
figure for 2005 being RMB6,460,000.
Of the total turnover of the Group for the first half year
of 2006, RMB5,191,000 (or 69% of total turnover) was derived
from the sale of medical diagnostic products and the provision
of relevant auxiliary services, and RMB2,313,000 (or 31% of
total turnover) came from the income of technology transfer
and technical service. In contrast, of the total turnover of
the same period last year, RMB5,246,000 (or 81% of total
turnover) was obtained from the sale of diagnostic products,
and RMB1,214,000 (or 19% of total turnover) came from the
income of technology transfer.
The Groupˇ¦s total turnover for the first half of 2006 has
increased by 16% from the same period last year, of which,
revenue from the sale of diagnostic products roughly remained
the same level with that of last year. The major reason that
contributed to the improvement of the turnover was technology
transfer and provision of technical services, the income of
which increased by 91% comparing to that of last year. Within
the period under review, the Company and its subsidiary
Shanghai Badian Pharmaceutical Co., Ltd. (ˇ§Badianˇ¨) have
recognized technology transfer income of RMB2,000,000 and
RMB200,000, respectively, upon the completion of transfer
tasks by stage for two projects. Also, revenue of RMB113,000
came from the provision of technical services to the external.
For the six months ended 30 June 2006, cost of sales of the
Group was approximately RMB5,064,000, whereas the comparative
figure for the same period in 2005 was RMB5,689,000. As a result
of the increased turnover and reduced cost of sales, gross
profit margin has been significantly improved by 174% from
last year.
Within the period under review, operating loss of the Group
was approximately RMB10,250,000, compared to RMB10,773,000
for that of last year. The major reason for the rising operating
loss was an increase of 24% of research and development (ˇ§R&Dˇ¨)
costs than last corresponding period. From a cautious point
of view, the management has not added the capitalized amount
of any R&D project from this financial year on, while at the
same time, amortized certain amount of deferred development
costs capitalized in the past several years. In addition, also
based on a cautious consideration, the management has not
provided for any deferred taxation during the period under
review, whilst the deferred tax provided for the corresponding
period last year was RMB1,109,000.
The Group recorded a loss attributable to shareholders of
approximately RMB10,552,000 for the six months ended 30 June
2006, whereas the loss attributable to shareholders for the
same period last year was RMB9,779,000.
3. Loss per share
The calculation of the loss per share for the three months
ended 30 June 2006 and 30 June 2005 were based on the unaudited
loss attributable to shareholders of the company of
approximately RMB3,078,000 (three months ended 30 June 2005:
loss attributable to shareholders of approximately
RMB4,829,000) and total shares in issue of 710,000,000 shares
(three months ended 30 June 2005: 710,000,000 shares) during
the three months ended 30 June 2006.
The calculation of the loss per share for the six months ended
30 June 2006 and 30 June 2005 were based on the unaudited loss
attributable to shareholders of the company of approximately
RMB10,552,000 (six months ended 30 June 2005: loss
attributable to shareholders of approximately RMB9,779,000)
and total shares in issue of 710,000,000 shares (six months
ended 30 June 2005: 710,000,000 shares) during the six months
ended 30 June 2006.
Diluted loss per share have not been calculated for the three
months and six months ended 30 June 2006 and 2005 respectively
as there were no dilutive potential ordinary shares during
those periods.
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