DaChan Food (Asia) Limited
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 3999)
UNAUDITED RESULTS
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2007
SUMMARY
The directors (the “Directors”) of DaChan Food (Asia) Limited (the “Company ”)
announce that the unaudited consolidated results of the Company and its
subsidiaries and its jointly controlled entities (collectively the “Group”) for the
nine months ended 30 September 2007.
The unaudited consolidated profit attributable to equity holders of the Company
for the nine months ended 30 September 2007 was approximately US$22,084,000
(equivalent to approximately HK$172,255,200) and the unaudited consolidated net
assets of the Group as at 30 September 2007 was approximately US$97,041,000
(equivalent to approximately HK$756,919,800).
This announcement is made as part of the Company’s adopted practice to publish
its financial results quarterly and pursuant to Rule 13.09 of the Rules (the “Listing
Rules”) Governing the Listing of Securities on
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The following items are extracted from the unaudited management accounts of the
Company and its subsidiaries:
(Unaudited)
For the nine
months ended
30 September
2007
(Audited)
For the five
months ended
31 May
2007
USD’000 USD’000
Revenue 629,744 321,122
Gross profit 54,616 28,048
Profit attributable to equity holders
of the Company 22,084 14,331
Net assets 97,041 89,228
Included one-off income of US$4,637 thousand and US$4,512 thousand for the nine months
ended 30 September 2007 and the five months ended 31 May 2007 respectively for government
grant and compensations.
Representing net assets value of the Company prior to listing
Our revenue increased by USD308.6 million, from USD321.1 million for the five
months ended 31 May 2007 to USD629.7 million for the nine months ended 30
September 2007. The average monthly sales increased by 20% from USD64.2 million
per month for the five months ended 31 May 2007 to USD77.1 million per month for
the period from 1 June 2007 to 30 September 2007.
Gross profit margin for the nine months ended 30 September 2007 remained stable
at approximately 8.7%.
Profit attributable to equity holders of the Company increased by USD7.8 million,
from USD14.3 million for the five months ended 31 May 2007 to USD22.1 million
for the nine months ended 30 September 2007.
Net assets increased by USD7.8 million from USD89.2 million as at 31 May 2007 to
USD97.0 million as at 30 September 2007.
As at the date of this announcement, the Company is a subsidiary of Great Wall
Enterprise Co., Ltd. (“Great Wall Enterprise”), a company listed on the Taiwan
Stock Exchange Corporation (“TSEC”), which is indirectly holding approximately
52.88% through two of its wholly owned subsidiaries, namely, Waverley Star Limited
(“Waverley Star”) as to approximately 37.59% and Asia Nutrition Technologies
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Corporation (“ANTC”) as to 15.29%, respectively. Pursuant to Taiwan Securities and
Exchange Act and the listing rules of TSEC, Great Wall Enterprise is required to
prepare its quarterly financial reports and announce its quarterly operating results on
the website designated by TSEC, the deadline of which is two months from the close
of each fiscal semester for semi-annual data, one month from the end of the quarter
for data for the first and third quarters, and four months from the close of each fiscal
year for the annual data. As the Group is indirectly owned by Great Wall Enterprise
and has substantial contribution to Great Wall Enterprise, the operating results of the
Group were incorporated into the annual and semi-annual financial statements of
Great Wall Enterprise. In addition, Great Wall Enterprise is required under the listing
rules of TSEC and other security regulations in Taiwan to disclose certain investment
information in its oversea subsidiaries and indirectly held subsidiaries in the PRC,
including those subsidiaries of the Company. For detail financial information of such
subsidiaries and jointly controlled entities, please refer to website:
newmops.tse.com.tw (stock code: 1210) after 29 October 2007.
The purpose of this announcement is to disclose simultaneously to the shareholders
of the Company and prospective investors in Hong Kong the information about the
aforementioned quarterly announcement and financial information equivalent to the
disclosure made by Great Wall Enterprise in order to ensure timely disclosure of
information in compliance with Rule 13.09 of the Listing Rules.
GENERAL INFORMATION
As at the date of this announcement, Mr. Han Jia-Hwan (Chairman), Mr. Chang
Tiee-Shen (Chief Executive Officer) and Mr. Chen Fu-Shih are the executive
Directors, Mr. Han Chia-Yau, Mr. Harn Jia-Chen, and Mr. Nicholas W. Rosa are the
non-executive Directors, and Mr. Liu Fuchun, Dr. Chen Chih and Mr. Pai Nai-Yu are
the independent non-executive Directors.
By Order of the Board
Han Jia-Hwan
Chairman
Hong Kong, 24 October 2007
Website: www.dfa3999.com
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UNAUDITED RESULTSFOR THE NINE MONTHS ENDED 30 SEPTEMBER 2007 |
