Shanghai Able Digital Science&Tech Co., Ltd. — Interim / Quarterly Report 2006

Sep 22, 2006

Listed Company Information

Listed Company Information
CITIC RESOURCES<01205> - Results Announcement CITIC Resources Holdings Limited announced on 22/09/2006: (stock code: 01205 ) Year end date: 31/12/2006 Currency: HKD Auditors' Report: N/A Interim report reviewed by: Audit Committee (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 01/01/2006 from 01/01/2005 to 30/06/2006 to 30/06/2005 Note ('000 ) ('000 ) Turnover : 3,097,992 3,067,250 Profit/(Loss) from Operations : 203,461 157,938 Finance cost : (62,260) (47,993) Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 121,236 93,451 % Change over Last Period : +29.73 % EPS/(LPS)-Basic (in dollars) : 0.0281 0.0216 -Diluted (in dollars) : 0.0278 N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 121,236 93,451 Interim Dividend : NIL NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Interim Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. BASIS OF PREPARATION These unaudited condensed consolidated interim financial statements have been prepared in accordance with Hong Kong Accounting Standard ("HKAS") 34 "Interim Financial Reporting" and other relevant HKASs and Interpretations and the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). 2. IMPACT OF NEW AND REVISED HONG KONG FINANCIAL REPORTING STANDARDS (" HKFRSs") The Hong Kong Institute of Certified Public Accountants has issued a number of new and revised HKFRSs (which also include HKASs and Interpretations) which are generally effective for accounting periods beginning on or after 1 January 2006. The Group has adopted the following HKFRSs and HKASs issued up to 30 June 2006 which are pertinent to its operations and relevant to these unaudited condensed consolidated interim financial statements. HKAS 21 Amendment The Effects of Changes in Foreign Exchange Rates - Net Investment in a Foreign Operation HKAS 39 Amendment Cash Flow Hedge Accounting of Forecast Intragroup Transactions HKAS 39 Amendment The Fair Value Option HKAS 39 & HKFRS 4 Financial Guarantee Contracts Amendments HKFRSs 1 & 6 Amendments First-time Adoption of Hong Kong Financial Reporting Standards and Exploration for and Evaluation of Mineral Resources HKFRS 6 Exploration for and Evaluation of Mineral Resources HK(IFRIC)-Int 4 Determining whether an Arrangement contains a Lease There was no material impact on the basis of preparation of the unaudited condensed consolidated interim financial statements arising from the above-mentioned accounting standards. 3. OTHER INCOME AND GAINS, NET An analysis of the Group's other income and gains is as follows: 2006 2005 Interest income 52,622 32,762 Handling service fee 33,505 365 Dividend income from listed investments 39,363 8,002 Gain on disposal of listed investments 5,235 - Fair value gain/(loss) on derivative instruments, net (66,439) 9,701 Sale of scraps 4,857 477 Others 17,400 56 _______________________ 86,543 51,363 ======================= 4. PROFIT BEFORE TAX The Group's profit before tax is arrived at after charging: 2006 2005 Depreciation 31,529 34,723 Amortisation of the Electricity Supply Agreement 29,563 30,375 Amortisation of other assets 2,099 - Equity-settled share option expenses 16,150 - Professional fees incurred in relation to aborted investment projects * 5,189 - Loss on disposal/write-off of items of property, plant and equipment * 159 140 Exchange losses, net * 7,160 9,554 ______________ * These amounts are included in "Other operating expenses, net" on the face of the unaudited condensed consolidated income statement. 5. EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY SHAREHOLDERS OF THE COMPANY The calculation of the basic earnings per share is based on the consolidated net profit attributable to shareholders of the Company for the Period of HK$121,236,000 (June 2005: HK$93,451,000) and the weighted average of 4,316,884,381 (June 2005: 4,316,884,381) ordinary shares in issue during the Period. The calculation of the diluted earnings per share is based on the consolidated net profit attributable to shareholders of the Company for the Period of HK$121,236,000 and the weighted average of 4,316,884,381 ordinary shares in issue during the Period plus the weighted average of 45,303,448 ordinary shares deemed to have been issued at no consideration if all outstanding options had been exercised. A diluted earnings per share amount for the six months ended 30 June 2005 had not been presented because no dilutive events existed during that period. 6. DIVIDEND The Board resolved not to pay an interim dividend for the Period (June 2005: Nil). 7. ANNOUNCEMENT OF INTERIM RESULTS The announcement of the interim results for the six months ended 30 June 2006 will be published in each of the following newspapers on 25 September 2006: (1) Hong Kong Economic Times; and (2) The Standard