Yadea Group Holdings Ltd. — Earnings Release 2003

Mar 24, 2003

Listed Company Information

CHAODA MODERN<00682> - Results Announcement Chaoda Modern Agriculture (Holdings) Limited announced on 24/03/2003: (stock code: 00682 ) Year end date: 30/6/2003 Currency: RMB Auditors' Report: N/A Review of Interim Report by: Both Audit Committee and Auditors (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 01/07/2002 from 01/07/2001 to 31/12/2002 to 31/12/2001 Note ('000 ) ('000 ) Turnover : 651,115 461,401 Profit/(Loss) from Operations : 321,662 290,785 Finance cost : (5,053) (920) Share of Profit/(Loss) of Associates : 3,672 619 Share of Profit/(Loss) of Jointly Controlled Entities : 0 0 Profit/(Loss) after Tax & MI : 272,904 290,484 % Change over Last Period : -6 % EPS/(LPS)-Basic (in dollars) : 0.142 0.174 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : 0 0 Profit/(Loss) after ETD Items : 272,904 290,484 Interim Dividend : NIL NIL per Share (Specify if with other : N/A N/A options) B/C Dates for Interim Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: (1) These un-audited consolidated condensed accounts are prepared in accordance with Hong Kong Statement of Standard Accounting Practice ("SSAP") 25 (revised), Interim Financial Reporting, issued by the Hong Kong Society of Accountants (as applicable to condensed accounts) and Appendix 16 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the "Listing Rules") issued by The Stock Exchange of Hong Kong Limited. (2) The calculation of the earnings per share is based on the Group's profits for the period of RMB272,904,000 (2001: RMB290,484,000) and the weighted average number of 1,918,448,413 (2001: 1,669,565,217) shares in issue during the period. (3) An analysis of turnover and profit from continuing operations: For the six months ended 31st December 2002 Growing Breeding and sale and sale of crops of livestock RMB'000 RMB'000 Turnover 627,327 13,286 Cost of sales (184,839) (5,330) ---------- ---------- Gross profit 442,488 7,956 Sales from operations of supermarkets and dedicated sales outlets Total ("DSO") RMB'000 RMB'000 Turnover 10,502 651,115 Cost of sales (9,215) (199,384) ---------- ---------- Gross profit 1,287 451,731 Unallocated items:- Other revenues 6,437 Selling and distribution expenses (61,464) General and administrative expenses (45,748) Research expenses (15,770) Net other operating expenses (13,524) ---------- Operating profit 321,662 For the six months ended 31st December 2001 Growing Breeding and sale and sale of crops of livestock RMB'000 RMB'000 Turnover 452,067 8,240 Cost of sales (110,875) (4,123) --------- -------- Gross profit 341,192 4,117 Sales from operations of DSO Total RMB'000 RMB'000 Turnover 1,094 461,401 Cost of sales (817) (115,815) ------- ---------- Gross profit 277 345,586 Unallocated items:- Other revenues 9,424 Selling and distribution expenses (40,673) General and administrative expenses (24,608) Net other operating income 1,056 --------- Operating profit 290,785