WeRide Inc. — Earnings Release 2001

Oct 24, 2001

Listed Company Information

FE PHARMA TECH<00399> - Results Announcement (Summary) Far East Pharmaceutical Technology Company Limited announced on 24/10/2001: (stock code: 399) Year end date: 30/6/2001 Currency: HK$ (Audited) (Audited) Last Current Corresponding Period Period from 1/7/2000 from 1/7/1999 to 30/6/2001 to 30/6/2000 ('000) ('000) Turnover : 409,633 353,116 Profit/(Loss) from Operations : 108,965 93,117 Finance cost : (236) (148) 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 : 94,541 81,661 % Change over Last Period : +15.77% EPS/(LPS)-Basic : 30.0 cents 34.0 cents -Diluted : 29.7 cents N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 94,541 81,661 Final Dividend per Share : 4.0 cents NIL (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : 26/11/2001 to 29/11/2001 bdi. Payable Date : 18/12/2001 B/C Dates for Annual General Meeting : 26/11/2001 to 29/11/2001 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) GROUP REORGANISATION The Company was incorporated in the Cayman Islands as an exempted company with limited liability on 24 May 2000 under the Companies Law (Revised) of the Cayman Islands. Pursuant to a reorganisation scheme (the "Group Reorganisation") to rationalise the structure of the Group in preparation for the listing of the Company's shares on The Stock Exchange of Hong Kong Limited in August 2000, the Company became the holding company of the companies now comprising the Group on 26 July 2000, except for "Minqing Factory" which was acquired subsequent to the completion of the Group Reorganisation. This was accomplished by acquiring the entire issued share capital of Far East Global Group Limited, the then holding company of the subsidiaries now comprising the Group (except for Minqing Factory), in consideration of and in exchange for the allotment and issue of 999,999 shares of HK$0.10 each in the share capital of the Company credited as fully paid. (2) BASIS OF PRESENTATION AND CONSOLIDATION The consolidated financial statements have been prepared using the merger basis of accounting as a result of the Group Reorganisation completed on 26 July 2000. Under this basis, the Company has been treated as the holding company of its subsidiaries for the financial years presented rather than from the date of their acquisition, except for Minqing Factory which was acquired subsequent to the completion of the Group Reorganisation and is therefore consolidated from its effective date of acquisition. Accordingly, the consolidated results of the Group for the years ended 30 June 2000 and 2001 include the results of the Company and its subsidiaries with effect from 1 July 1999 or since their respective dates of incorporation, where this is a shorter period. The comparative balance sheet as at 30 June 2000 has been prepared on the basis that the existing Group had been in place at that date. In the opinion of the directors, the consolidated financial statements prepared on the above basis present more fairly the results and the state of affairs of the Group as a whole. All significant intercompany transactions and balances within the Group are eliminated on consolidation. (3) EARNINGS PER SHARE The calculation of basic earnings per share for the year ended 30 June 2001 is based on the net profit from ordinary activities attributable to shareholders for the year of HK$94,541,000 (2000: HK$81,661,000) and the weighted average number of 315,147,945 ordinary shares (2000: weighted average of 240,000,000 ordinary shares) in issue during the year. The diluted earnings per share for the year ended 30 June 2001 is based on the net profit from ordinary activities attributable to shareholders of HK$94,541,000 and 318,545,828 shares, which is the weighted average of the shares in issue during the year plus the weighted average of 3,397,883 shares deemed to be issued at no consideration if all of the outstanding share options had been exercised since their respective dates of issue. There were no potential dilutive ordinary shares in existence during the year ended 30 June 2000 and accordingly, no diluted earnings per share for that year has been presented.