RoboSense Technology Co., Ltd — Interim / Quarterly Report 2012

Apr 26, 2012

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

==> picture [466 x 187] intentionally omitted <==

FIRST QUARTERLY REPORT 2012

This quarterly report is published in compliance with Rule 6.1 of the Shanghai Stock Exchange Share Listing Rules and Rule 13.09(2) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.

1. IMPORTANT NOTICE

• 1.1 The board of directors (the “Board”), the supervisory committee, the directors (the “Directors”), supervisors and senior management members of the Company warrant that there is no false representation or misleading statement in or material omission from this report and jointly and severally accept responsibilities for the truthfulness, accuracy and completeness of the content contained herein.

• 1.2 All Directors attended the Board meeting.

— 1 —

• 1.3 The first quarterly financial statements of the Company are unaudited.

• 1.4 Mr. Song Jianming, the Chairman of the Company, Ms. Song Fei, the Financial Controller, and Ms. Chen Jing, the Head of Finance Department, warrant that the financial statements in this quarterly report are true and complete.

2. CORPORATE PROFILE

2.1 Major Accounting Information and Financial Indicators

Unit: RMB

			Increase/
			(decrease) at
	As at		the end of this
	the end of	As at	reporting period
	the reporting	the end of	from the end
	period	last year	of last year
			(%)
Total assets	1,387,390,364.05	1,415,785,144.79	-2.01
Owners’ equity (or shareholders’
equity)	90,983,399.69	127,013,633.44	-28.37
Net assets per share attributable
to shareholders of the Company	0.18	0.25	-28

— 2 —

			Increase/
		From beginning	(decrease) as
		of the year to	compared with
		the end of the	the corresponding
		reporting period	period last year
			(%)
Net cash flow from
operating activities		-55,070,684.89	Not Applicable
Net cash flow from
operating activities per share		-0.11	Not Applicable
		From beginning	Increase/
		of the year	(decrease) as
		to the end	compared with
		of the reporting	the corresponding
	Reporting period	period	period last year
			(%)
Net profit attributable to	-36,048,355.49	-36,048,355.49	-151.18
shareholders of the Company
Basic earnings per share	-0.0721	-0.0721	-151.17
Basic earnings per share after	-0.0740	-0.0740	-727.12
non-operating items
Diluted earnings per share	-0.0721	-0.0721	-151.17
Weighted average return	-33.08	-33.08	Decreased by
on net assets_(%)_			79.79 percentage
			points
Weighted average return	-33.94	-33.94	Decreased by
on net assets after			37.86 percentage
non-operating items_(%)_			points

— 3 —

Non-operating items Profit/(loss) on disposal of non-current assets, including write-off of provision for asset impairment Government grants recognised in profit or loss for the period (except for those closely related to the Company’s normal business and in compliance with national policies and regulations and conferred continuously based on standard amounts and quantities) Gain from debt restructuring Other net non-operating income and expenses excluding the aforesaid items Effect of income tax Effect on minority interest Total

Amount from the beginning of the year to the end of the reporting period 22,163.85 730,694.68 91,275.79 114,620.05 -15,650.25 479.29 943,583.41

2.2 Total number of shareholders and top 10 holders of circulating shares at the end of the reporting period

Unit: Share

Total number of shareholders 21,781 including 21,725 holders as at the end of the reporting of A Shares and 56 holders of H Shares. period

— 4 —

Particulars of the top 10 holders of shares not subject to trading moratorium

	Number of
	circulating
	shares not
	subject to
	trading
	moratorium as
	at the end of	Class of shares
	the reporting	(A, B, H share
Name of shareholders (full name)	period	or others)
HKSCC Nominees Limited	247,846,998	H Share
China Luoyang Float Glass (Group)
Company Limited	159,018,242	A Share
Zhang Lixin	2,317,044	A Share
Shanghai Securities Company Limited	1,123,297	A Share
Li Ru	648,000	A Share
Zhang Ruiying	575,800	A Share
Chen Hong	565,614	A Share
Yuao Xuan	472,516	A Share
Jiang Wei	472,301	A Share
Rui Zhiying	445,000	A Share

— 5 —

3. SIGNIFICANT EVENTS

3.1 Substantial changes in major items of financial statements and financial indicators and the reasons thereof

• 3 Applicable Not Applicable

• (1) Notes receivable decreased by 62.71% from the beginning of the period mainly due to decline in sales during the period;

• (2) Prepayments increased by 33.06% over the beginning of the period mainly due to rise in prepayments for raw materials by subsidiaries;

• (3) Short-term loans decreased by 44.05% from the beginning of the period mainly due to repayment of short-term loans by subsidiaries;

• (4) Receipts in advance increased by 58.84% over the beginning of the period mainly due to rise in advances from customers;

• (5) Operating income and operating cost decreased 40.90% and 33.6% respectively year on year mainly due to a year-on-year decline in sales;

• (6) Administration expenses increased 67.53% year on year mainly because the construction in progress expenses for certain production lines in the previous period were accounted for as administration expenses in the period after the production lines were put into production and the expenses included in production costs for certain production lines in the previous period were accounted for as administration expenses in the period after the production lines were shut down.

• (7) Asset impairment loss increased 98.63% year on year mainly due to reversal of provision for bad debts after recovery of long-term accounts receivable during the previous period;

— 6 —

• (8) Operating profit decreased by 1,289.19% year on year, mainly due to the increase in administration expenses and assets impairment loss as well as loss incurred by the ordinary float glass business which was affected by the sluggish market. However, the ultra-thin glass business recorded profit.

• (9) Net cash flow from operating activities decreased 38.73% year on year mainly due to government subsidies received by Longmen Company for its ultra-thin ultra-white glass project during the previous period;

• (10) Net cash flow from investment activities decreased 84.25% year on year mainly due to decline in income from disposal of land use right received during the period;

• (11) Net cash flow from financing activities increased 169.99% year on year mainly due to rise in fund raising during the period and repayment of entrusted loans during the previous period.

3.2 Analysis and explanation of progress and impact of significant events and their solutions

Applicable 3 Not Applicable

3.3 Performance of undertakings of the Company, shareholders and de facto controller

3 Applicable Not Applicable

When China Building Materials Glass Company (“CBM Glass”) indirectly acquired 31.8% shares in the Company by transfer of the State-owned equity interests at nil consideration, CBM Glass undertook that: CBM Glass and its controlled enterprises would not directly or indirectly involve in any businesses or activities in competition with the principal operations of the Company, by any means (including but not limited to independent business, joint venture or having shares or other interests in another company or enterprise). In the event that the business opportunities obtained will or may compete with the principal operations of the Company, CBM Glass will notify the Company of those matters as soon as possible and pass such business opportunities to the Company to ensure that there is no prejudice to the interests of the shareholders of the Company as a whole.

— 7 —

As at the end of the reporting period, CBM Glass complied with the undertakings.

When CNBMG and CBM Glass set about solving the problem of horizontal competition with the Company in December 2010, they undertook to come up with a comprehensive solution to the problem of horizontal competition between Luoyang Glass and Longxin Glass, Fangxing Science & Technology and Zhonglian Glass by way of consolidation in the form of a series of business and asset restructuring with Luoyang Glass as a platform in the coming three years. Relevant matters are currently being dealt with and the Company will make timely disclosure when the implementation plan is finalized.

3.4 Warning and explanation in the forecast of any possible loss in accumulated net profit from the beginning of the year to the end of next reporting period or any material changes compared to the corresponding period of last year

Applicable 3 Not Applicable

3.5 Implementation of cash dividend policy

During the reporting period, the Company did not distribute any cash dividends.

By order of the Board Luoyang Glass Company Limited Song Jianming Chairman

Luoyang, the PRC 26 April 2012

As at the date of this announcement, the Board of the Company comprises three executive Directors: Mr. Song Jianming, Mr. Ni Zhisen and Ms. Song Fei; three nonexecutive Directors: Mr. Zhao Yuanxiang, Mr. Zhang Chengong and Mr. Guo Yimin; and four independent non-executive Directors: Mr. Zhang Zhanying, Mr. Guo Aimin, Mr. Huang Ping and Mr. Dong Jiachun.

— 8 —