Yadea Group Holdings Ltd. — Earnings Release 2003

Oct 21, 2003

Listed Company Information

CHAODA MODERN<00682> - Results Announcement (Summary) Chaoda Modern Agriculture (Holdings) Limited announced on 21/10/2003: (stock code: 00682 ) Year end date: 30/6/2003 Currency: RMB Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 1/7/2002 from 1/7/2001 to 30/6/2003 to 30/6/2002 Note ('000 ) ('000 ) Turnover : 1,485,307 1,152,133 Profit/(Loss) from Operations : 703,569 664,781 Finance cost : (15,345) (6,028) Share of Profit/(Loss) of Associates : 37,803 19,080 Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 725,134 621,924 % Change over Last Period : +17 % EPS/(LPS)-Basic (in dollars) : 0.38 0.35 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 725,134 621,924 Final Dividend : RMB3.70 cents RMB9.529 cents per Share (HK3.49 cents) (HK9.0 cents) (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : 15/12/2003 to 19/12/2003bdi. Payable Date : 30/1/2004 B/C Dates for Annual General Meeting : 15/12/2003 to 19/12/2003bdi. Other Distribution for : Bonus shares (one bonus share for Current Period every twenty ordinary shares of HK$0.1 each in the issued share capital of the Company to shareholders whose names appear on the register of members on 19th December, 2003. B/C Dates for Other Distribution : 15/12/2003 to 19/12/2003bdi. Remarks: (1) The financial statements have been prepared in accordance with generally accepted accounting principles in Hong Kong and comply with Statements of Standard Accounting Practice ("SSAPs") issued by the Hong Kong Society of Accountants ("HKSA"), the disclosure requirements of the Hong Kong Companies Ordinance and the Rules of Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The financial statements are prepared under the historical cost convention. (2) The calculation of the earnings per share is based on the profit attributable to shareholders of RMB725,134,000 (2002: 621,924,000) and the weighted average number of 1,916,769,123 (2002: 1,793,753,000) ordinary shares in issue during the year. There was no potential dilutive ordinary shares in existence for the years ended 30 June 2003 and 2002, therefore, no diluted earnings per share was presented. (3) An analysis of turnover and profit from continuing operations: Breeding Sales of Growing and sales ancillary Super markets Inter- and sales of food Export chain segment of crops livestock products trading operation elimin- ation Total RMB'000 RMB'000 RMB'000 RMB'000 RMB'000 RMB'000 RMB'000 Sales to external customers 1,363,164 24,557 2,264 20,123 79,970 (4,771) 1,485,307 Cost of sales (399,895) (4,088) (1,588) (18,763)(71,954) 4,771 (491,517) ----------- -------- -------- ------- ------- ------- --------- Gross profit 963,269 20,469 676 1,360 8,016 - 993,790 Unallocated items: Other revenue 30,088 Selling and distribution expenses (139,767) General and administrative expenses (94,003) Research expenses (53,170) Other operating expenses (33,369) --------- Profit from operations 703,569 Inter-segment revenue represents the sales of fruits & vegetables from the crops segment to the supermarket segment. Sales between business segments are accounted for at competitive market prices charged to unaffiliated customers for similar goods.