WeRide Inc. — Earnings Release 2002

Oct 21, 2002

Listed Company Information

FE PHARMA TECH<00399> - Results Announcement (Summary) Far East Pharmaceutical Technology Company Limited announced on 21/10/2002: (stock codes: Ord: 399 & War: 637) Year end date: 30/6/2002 Currency: HK$ Auditors' Report: Unqualified Review of Interim Report by: N/A (Audited) (Audited) Last Current Corresponding Period Period from 1/7/2001 from 1/7/2000 to 30/6/2002 to 30/6/2001 ('000) ('000) Turnover : 715,717 409,633 Profit/(Loss) from Operations : 175,608 108,965 Finance cost : (520) (236) Share of Profit/(Loss) of Associates : - - Share of Profit/(Loss) of Jointly Controlled Entities : (131) - Profit/(Loss) after Tax & MI : 134,739 94,541 % Change over Last Period : +42.52% EPS/(LPS)-Basic : 33.5 cents 30.0 cents -Diluted : 31.4 cents 29.7 cents Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 134,739 94,541 Final Dividend per Share : 4.5 cents 4 cents (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : 13/12/2002 to 18/12/2002 bdi. Payable Date : 31/12/2002 B/C Dates for Annual General Meeting : 13/12/2002 to 18/12/2002 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: (1) The company was listed on 23rd August 2000 ( it is not the 1st interim nor the 1st final results). (2) The consolidated financial statements have been prepared using the merger basis of accounting as a result of the reorganisation scheme ("Group Reorganisation") which rationalising the structure of the Group for the listing of the Company's Shares on The Stock Exchange of Hong Kong Limited and 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 Fujian Yannian Pharmaceutical Company Limited ("Yannian") (formerly known as 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 2001 and 2002 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. (3) Depreciation expenses increased by 9.7M due to the set up of new manufacturing plant during the year. All other operation expenses are increased in line with the increase in turnover. (4) The calculation of the basic and diluted earnings per share for the year is based on the following data: 2002 2001 HK$'000 HK$'000 Earnings: Profit attributable to shareholders and earnings for the purposes of basic earnings per share 134,739 94,541 Effect of dilutive potential shares: Redeemable convertible bonds - interest expenses 520 - ----------------------- Profit attributable to shareholders and earnings For the purposes of diluted earnings per share 135,259 94,541 ====================== 2002 2001 Number of shares: Weighted average number of shares for the purposes of basic earnings per share 402,331,726 315,147,945 Effect of dilutive potential shares: Share options 16,192,057 3,397,883 Redeemable convertible bonds 12,035,976 - ------------------------------- Weighted average number of shares for the purposes of diluted earnings per share 430,559,759 318,545,828 =============================== The computation of diluted earnings per share for the year ended 30 June 2002 does not assume the conversion of the Company's outstanding warrants since its exercise would result in an increase in earnings per share for the year. (5) The adoption of SSAP 9 (revised) "Events after the balance sheet date" results in a change in accounting policy whereby dividends proposed after the balance sheet date are no longer recognised as a liability at the balance sheet date, while the dividend income proposed or declared by the subsidiaries after the balance sheet date are no longer recognised as income by the parent companies. Proposed dividends are now separately disclosed on the face of the balance sheet within capital and reserves section. This change in accounting policy has been applied retrospectively and comparative figures have been restated.