FUDANZHANGJIANG<08231> - Results Announcement (Q3, 2006, Summary)
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. announced on 08/11/2006:
(stock code: 08231 )
Year end date :31/12/2006
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
(Unudited) (Unadited)
Current Last Corresponding
Period Period
from 01/01/2006 from 01/01/2005
to 30/09/2006 to 30/09/2005
RMB'000 RMB'000
Turnover : 10,726 16,385
Profit/(Loss) from Operations : (18,346) (11,300)
Finance cost : 0 0
Share of Profit/(Loss) of Associates : (679) (694)
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : (18,490) (9,977)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : RMB (0.026) RMB (0.0141)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (18,490) (9,977)
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 third quarterly 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 nine months ended 30 September 2006, the Group recorded
a turnover of approximately RMB10,726,000, representing a
decrease of 35% from that of the same period in 2005. Sales
of medical diagnostic products realized a revenue of
RMB7,710,000 accounting for 72% of the total turnover for the
period, with the remaining 28% of the total turnover which
is RMB3,016,000 came from the technology transfer and the
provision of technical services. Sales of the medical
diagnostic has seen a steady increase of 5% from the level
of last corresponding period, whereas the income from
technology transfer and technical services has declined
significantly. Managementˇ¦s more cautious attitude in selling
research & development ("R&D") projects, in that only projects
which are not included in the self-commercialization plan
might be transferred, has led to the declining technology
transfers.
For the nine months ended 30 September 2006, cost of sales
of the Group was approximately RMB7,713,000, reduced by 5%
from the same period last year. Gross profit margin fell from
50% to 28%, because fewer technology projects have been
transferred than the same period last year, which contribute
a greater proportion to the profit margin.
For the period under review, operating loss of the Group was
approximately RMB18,346,000, comparing to RMB11,300,000 for
the same period last year. More marketing fees have been spent
on exploring new markets in preparation for the launch and
entry of the new product Aminolevulinic Acid Hydrochloride
(ALA), as reflected by the increased distribution costs.
R&D costs and administrative expenses have been slightly
reduced than those of last year.
The Group recorded a loss attributable to the shareholders
of the company of approximately RMB18,490,000 for the nine
months ended 30 September 2006, in contrast to RMB9,977,000
for the same period last year.
3. Loss per share
The calculation of the loss per share for the three months
ended 30 September 2006 and 30 September 2005 were based on
the unaudited loss of approximately RMB7,938,000 (2005: loss
of approximately RMB198,000) and the weighted average number
of 710,000,000 shares during the three months ended 30
September 2006 (2005: 710,000,000 shares).
The calculation of the loss per share for the nine months ended
30 September 2006 and 30 September 2005 were based on the
unaudited loss of approximately RMB18,490,000 (2005: loss of
approximately RMB9,977,000) and the weighted average number
of 710,000,000 shares during the nine months ended 30
September 2006 (2005: 710,000,000 shares).
|