WeRide Inc. — Earnings Release 2002

Mar 21, 2002

Listed Company Information

FE PHARMA TECH<00399> - Results Announcement (Summary) Far East Pharmaceutical Technology Company Limited announced on 21/3/2002: (stock code: 399) Year end date: 30/6/2002 Currency: HK$ Auditors' Report: Neither Review of Interim Report by: Audit Committee (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/7/2001 from 1/7/2000 to 31/12/2001 to 31/12/2000 ('000) ('000) Turnover : 282,338 200,996 Profit/(Loss) from Operations : 64,498 53,967 Finance cost : (105) - Share of Profit/(Loss) of Associates : N/A N/A Share of Profit/(Loss) of Jointly Controlled Entities : (131) N/A Profit/(Loss) after Tax & MI : 54,582 47,218 % Change over Last Period : +15.6% EPS/(LPS)-Basic : 15.3 cents 15.9 cents -Diluted : 14.1 cents N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 54,582 47,218 Interim Dividend per Share : Nil Nil (Specify if with other options) : N/A N/A B/C Dates for Interim Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1. BASIS OF PRESENTATION The Company was incorporated in 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 rationalize the structure of the Group in preparation for the listing of the Company's shares on The Stock Exchange of Hong Kong Limited, the Company acquired, on 26 July 2000, the entire issued share capital of Far East Global Group Limited which is, at the date of this report, the intermediate holding company of the other subsidiaries within the Group. The unaudited condensed consolidated interim financial statements for the six months ended 31 December 2000 had been prepared using the merger basis of accounting in accordance with the Statement of Standard Accounting Practice No. 2.127, "Accounting for group reconstructions", as a result of the Group Reorganisation. Under this basis, the Company had been treated as the holding company of its subsidiaries, for the financial periods presented rather from the date of their acquisition, except for Fujian Yannian Pharmaceutical Co., Ltd which was acquired subsequent to the completion of the Group Reorganisation and is therefore consolidated from its effective date of acquisition. Accordingly, the unaudited consolidated results of the Group for the six months ended 31 December 2000 include the results of the Company and its subsidiaries with effect from 1 July 2000 or since their respective dates of incorporation/establishment, where this is a shorter period. The unaudited condensed consolidated interim financial statements of the Group are prepared in accordance with Hong Kong Statement of Standard Accounting Practice 25 "Interim Financial Reporting". The accounting policies and basis of presentation used in the preparation of the unaudited condensed consolidated interim financial statements are consistent with those adopted in the financial statements of the Group for the year ended 30 June 2001. 2. EARNINGS PER SHARE The calculation of basic earnings per share is based on the net profit from ordinary activities attributable to shareholders of approximately HK$54,582,000 (2000: HK$47,218,000) and weighted average number of 356,646,043 ordinary shares (2000: 296,956,522 shares) in issue during the six months ended 31 December 2001. The calculation of diluted earnings per share is based on adjusted net profit attributable to shareholders for the six months ended 31 December 2001 of HK$54,687,000 after adding back interest on redeemable convertible bonds and weighted average number of 388,248,615 ordinary shares. The weighted average number of ordinary shares used in the calculation of diluted earnings per share is the sum of (i) 356,646,043 ordinary shares in issue during the period, as used in the basic earnings per share calculation; (ii) the weighted average of 11,510,057 ordinary shares assumed to have been issued at no consideration on the deemed exercise of all share options outstanding during the period; and (iii) the weighted average of 20,092,515 ordinary shares assumed to have been issued upon the conversion of all the redeemable convertible bonds since their respective dates eligible to be converted. A diluted earnings per share amount for the six months ended 31 December 2000 has not been disclosed as no diluting events existed during that period.