WeRide Inc. — Interim / Quarterly Report 2001

Feb 28, 2001

Listed Company Information

FE PHARMA TECH<0399> - Results Announcement Far East Pharmaceutical Technology Company Limited announced on 28/2/2001 (stock code: 399) Please refer to the press announcement for the details of the audit committee's review report on the interim financial statement, to be issued by the Company on 1/3/2001. Year end date: 30/6/2001 Currency: HK$ (Unaudited) (Unaudited) Last Current Corresponding Period Period from 1/7/2000 from 1/7/1999 to 31/12/2000 to 31/12/1999 ('000) ('000) Turnover : 200,996 141,972 Profit/(Loss) from Operations : 53,967 35,693 Finance cost : - (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 : 47,218 31,326 % Change over Last Period : +50.7% EPS/(LPS)-Basic : 15.9 cents 13.1 cents -Diluted : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 47,218 31,326 Interim Dividend per Share : Nil N/A (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) GROUP REORGANISATION Far East Pharmaceutical Technology Company Limited (the "Company") was incorporated as an exempted company with limited liability in Cayman Islands on 24 May 2000. Pursuant to a reorganisation scheme (the "Group Reorganisation") to rationalise the structure of the Company and its subsidiaries (the "Group") in preparation for the listing of the Company's shares on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), 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 shares of the Company were subsequently listed on the Stock Exchange on 23 August 2000. (2) BASIS OF PRESENTATION AND ACCOUNTING POLICIES The Group Reorganisation involved companies under common control. The condensed consolidated interim financial statements for the six months ended 31 December 2000 have 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 took place on 26 July 2000. Under this basis, the condensed consolidated interim financial statements for the six months ended 31 December 2000 together with the comparative figures of the corresponding period in last year and the related notes thereto have also been presented in these condensed consolidated interim financial statements on the basis that the Company is treated as the holding company of its subsidiaries for the financial periods presented rather than from the subsequent date of acquisition of the subsidiaries on 26 July 2000 or since their respective dates of incorporation, where this is a shorter period. The condensed consolidated interim financial statements are prepared in accordance with Hong Kong Statement of Standard Accounting Practice No. 25, "Interim Financial Reporting", except that the comparative figures of the condensed combined cash flow statement have not been presented as the Company has taken advantage of the transitional provisions set out in Appendix 16 of the Listing Rules of the Stock Exchange. The accounting policies and basis of presentation used in the preparation of the condensed consolidated interim financial statements are consistent with those adopted in the financial statements of the Group for the year ended 30 June 2000. (3) EARNINGS PER SHARE The calculation of basic earnings per share for the six months ended 31 December 2000 is based on the net profit from ordinary activities attributable to shareholders of HK$47,218,000 (1999: HK$31,326,000) and weighted average number of 296,956,522 ordinary shares (1999: 240,000,000 shares) in issue during the period. No diluted earnings per share are presented because the Company had no potentially dilutive shares.