Hubei Sanonda Co., Ltd. 2001 Annual Report

HUBEI SANONDA CO., LTD. 2001 ANNUAL REPORT Important: Board of Directors of Hubei Sanonda Co., Ltd. (hereinafter referred to as the Company) hereby confirms that there are no important omissions， fictitious statements or serious misleading contents in the information carried in this report, and shall take all responsibilities, individual and / or joint, for the reality, accuracy and completion of the whole contents. The summary was abstracted from the full text of Annual Report, so investors are suggested to read the full text for more detailed information. I. COMPANY PROFILE 1. Legal name of the Company in Chinese and English: Name in Chinese: 湖北沙隆达股份有限公司 (Abbr.: 沙隆达) Name in English: HUBEI SANONDA CO., LTD. (Abbr.: SANONDA) 2. Legal Representative of the Company: Zhang Maoli 3. Secretary of Board of Directors: Li Zhongxi Tel: (86) 716-8314802-2632 Liaison Address: No. 93, Beijing Rd. E., Jingzhou, Hubei Fax:(86) 716-8316796 Authorized Representative in Change of Securities Affairs: Wu Meng Liaison Address: No. 172, Beijing Rd., Jingzhou, Hubei Tel: (86) 0716-8114595 Fax:(86) 0716-8110066 4. Registered Address of the Company: No. 93, Beijing Rd. E., Jingzhou, Hubei Office Address of the Company: No. 93, Beijing Rd. E., Jingzhou, Hubei Post Code: 434001 Website of the Company: http://www. sanondas.com E-mail of the Company: [email protected] 5. Newspaper Chosen for Disclosing the Information of The Company: China Securities, Securities Times and Ta Kung Pao Internet Web Site for Publishing the Annual Report of the Company: http://www.cninfo.com.cn The Place Where the Annual Report is Prepared and Placed: Securities Department of the Company 6. Stock Exchange Listed With: Shenzhen Stock Exchange Short Form of the Stock: Sanonda A (A-share), Sanonda B (B-share) Stock Code:000553 (A-share), 200553 (B-share) II. FINANCIAL HIGHLIGHTS AND BUSINESS HIGHLIGHTS (I) Particulars about Profit as of the Report Year Unit: In RMB Item Amount Total profit 16,699,339.40 Net profit 10,496,755.08 Net profit after deducting non-recurring gains and 9,773,983.79 losses Profit from main business lines 118,424,380.35 Profit from other business lines 3,153,404.46 Operating profit 14,643,847.56 Investment income 2,846,172.68 Subsidy income --- Net income / expenditure from non-operating -790,680.84 Net cash flows arising from operating activities 113,730,778.90 Net increase in cash and cash equivalents -218,427,652.33 Note: Amount of deducted non-recurring gains and losses is RMB 722,771.29, items as follows: Unit: RMB Item deducted Amount Net income / expenditure from non-operating -790,680.84 Capital occupation fee received from associated companies 1,641,000.00 Effect of income tax -127,547.87 Total 722,771.29 (II) Notes to difference in the net profit as audited according to CAS and IAS As audited by Tian Hua Certified Public Accountants according to CAS and Arthur Andersen & Company Certified Public Accountants under IAS, net profit of the Company as of 2001 was respectively RMB 10,497,000 and RMB –20,916,000. The difference was mainly due to follows: Unit: RMB’000 Net profit as of 2001 As reported in the statutory accounts of the Group 10,497 Impact of IAS adjustments, net - Additional provision for doubtful debts (12,978) - Depreciation of idle property, plant and equipment (3,878) - Provision to reduce inventories to net realizable value 1,427 - Provision for impairment loss of property, plant and equipment (4,666) - Provision for impairment loss of other long-term investments (15,200) - Recognition of deferred tax assets - - Adjustment of sales cut-off errors 338 - Others 3,544 As restated to IAS (20,916) (III). Major accounting data and financial indexes over previous three years ended of the report period Unit: In RMB 2000 1999 Items 2001 After adjustment Before adjustment After adjustment Before adjustment Income from main business lines (RMB) 963,788,396.61 913,091,597.08 913,091,597.08 972,243,239.34 972,243,239.34 Net Profit (RMB) 10,496,755.08 647,227.04 18,007,022.63 40,575,433.72 63,055,471.02 Total assets (RMB) 1,642,777,754.18 1,846,344,324.13 1,897,377,517.05 1,765,515,393.32 1,787,995,430.62 Shareholders’ equity (RMB) 973,700,189.12 963,203,434.04 1,008,137,600.62 967,650,540.69 990,130,577.99 Earnings per share (Fully diluted) (RMB) 0.035 0.0022 0.061 0.137 0.212 Earnings per share (weighted average) (RMB) 0.035 0.0022 0.061 0.137 0.212 Earnings per share (after deducting non-recurring 0.033 0.031 0.031 0.197 0.197 gains and losses) (RMB) Net assets per share (RMB) 3.28 3.24 3.39 3.26 3.33 Net assets per share after adjustment (RMB) 3.10 3.10 3.26 3.19 3.27 Net cash flows per share arising from operating 0.38 0.35 0.35 0.04 0.04 activities (RMB) Return on equity (Fully diluted) (%) 1.08 0.07 1.79 4.19 6.37 Return on equity (weighted average) (%) 1.08 0.07 1.79 4.19 6.37 Return on equity (after deducting non-recurring 1.00 0.04 0.91 5.93 5.93 gains and losses) (%) (IV) Profit as calculated according to Regulations on the Information Disclosure of Companies Publicly Issuing Shares (No. 9) released by CSRC: Net return on equity (%) Earnings per share Profit Fully diluted Weighted average Fully diluted Weighted average as of the report period 2001 2000 2001 2000 2001 2000 2001 2000 Profit from main business lines 12.16% 12.34% 12.23% 12.00% 0.3988 0.4002 0.3988 0.4002 Operating profit 1.50% 1.70% 1.51% 1.65% 0.0493 0.0551 0.0493 0.2003 Net profit 1.08% 0.07% 1.08% 0.07% 0.0353 0.0022 0.0353 0.0022 Net profit after deducting non- recurring gains and losses 1.00% 0.04% 1.01% 0.03% 0.0329 0.0012 0.0329 0.0012 III. CHANGES IN SHARE CAPITAL AND PARTICULARS ABOUT SHAREHOLDER 1. Changes in Share Capital (1) Changes in shares Unit: share Amount at Increase/ Decrease (+ / -) as of the period Amount at the the year- Shares Bonus Capitalization of Others Sub-total year-end begin allotment shares Public reserve Ⅰ. Shares Unlisted 1. Promoters’ shares Including: State-owed shares 84,729,334 84,729,334 Domestic juristic person’s shares Foreign juristic person’s shares Others 2.Raised juristic person’s shares 3.Employees’ shares 4.Preference shares or other Total shares unlisted 84,729,334 84,729,334 II. Shares Listed 1.Domestically listed 97,232,276 97,232,276 Ordinary RMB shares Including: shares held by 40,158 40,158 senior executives 2.Domestically listed 115,000,000 115,000,000 foreign shares 3. Overseas listed foreign shares Total shares listed 212, 232,276 212, 232,276 Ⅲ. Total Shares 296,961,610 296,961,610 Note: Item of “others” means shares transferred from state-owned shares. There was no change in structure of share capital. 2. About Shareholders (1) Ended Dec. 31, 2001, the Company had total 28,455 shareholders of A share and B share, including nine of employees’ share (director, supervisor and senior executive of the Company). (2) Ended Dec. 31, 2001, shares held by the top ten shareholders are as follows: Number of shares held Proportion in the No Shareholders (In shares) total shares 1 Sanonda Group Corporation (State Shareholder) 81,726,625 27.52% 2 Qichun County State Assets Management Bureau 3,002,709 1.01% 3 Changzhou Yadong Dress Co., Ltd. 2,480,471 0.83% 4 Hanxing Securities Investment Fund 1,800,101 0.60% 5 Wen San Rong (B share) 1,788,711 0.60% 6 Changzhou Xindong Fashion Co., Ltd. 1,593,400 0.53% 7 Renjun Development Co., Ltd. (B share) 1,446,860 0.48% 8 Taiji Investment Co., Ltd. (B share) 1,000,000 0.33% 9 Guangqi Investment Co., Ltd. (B share) 1,000,000 0.33% 10 Guotai Junan Securities Co., Ltd. 958,300 0.32% Note: There existed no related transaction among the top ten shareholders. (3) Brief introduction to shareholders holding over 10% of total shares of the company Name: Sanonda Group Corporation Shares in hold: 81,726,625 shares Proportion in the total share: 27.52% Legal representative: Zhang Maoli Scope of business: Agrochemical, chemical products, pharmaceutical products, mechanical equipments and fittings, import and export of the Company’s products and the necessary raw and auxiliary material, etc. Date of establishment: 1994 Registered capital: RMB 311,101,000 Note: 1) Sanonda Group Corporation is state-owned shareholder of the Company, there was no changes in shares held by the control shareholder in the report period. 2) In August 2000, 55,770,000 shares of the Company held by Sanonda Group Corporation were pledged by Industrial and Commercial Bank of China Jingzhong branch (share pledged taking 18.78% in the total shares) for the loan amounting to RMB 130 million. The relevant information was published on China Securities, Securities Times and Ta Kung Pao dated August 17, 2000. IV. PARTICULARS ABOUT DIRECTOR, SUPERVISOR AND SENIOR EXECUTIVE 1. About director, supervisor and senior executive Shares held at Shares held at Name Title Gender Age Office Term beginning of year end of year Zhang Maoli Chairman of the Male To May 26, 2003 Board 58 11,830 11,830 Liu Xingping Vice Chairman of Male To May 26, 2003 the Board & 39 2,000 2,000 General Manager Li Zuorong Director Male To May 26, 2003 52 3,000 3,000 Deng Guobin Director & Deputy Male To May 26, 2003 General Manager 34 2,000 2,000 Zhang Director Male To May 26, 2003 Jianguo 49 2,000 2,000 He Fuchun Director & deputy Male To May 26, 2003 general manager, 37 2,000 2,000 senior engineer Wan Zhemin Chairman of Male To May 26, 2003 Supervisory 53 7,098 7,098 Committee Chen Vice Chairman of Male To May 26, 2003 Changshun Supervisory 55 9,230 9,230 Committee Sang Supervisor Male To May 26, 2003 Maoxiong 51 0 0 Hu Wanfeng Supervisor Female To May 26, 2003 53 1,000 1,000 Xu Baojian Supervisor Male To May 26, 2003 46 0 0 Wang Deputy General Male To May 26, 2003 Xuewen Manager 35 0 0 Dai Juqing Chief Economist Male To May 26, 2003 51 0 0 Li Zhongxi Secretary of the Male To May 26, 2003 Board 32 0 0 1) As approved in the Board meeting, Mr.

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