[HENGYUAN] QoQ Annualized Quarter Result on 30-Sep-2003 [#3]

Announcement Date
18-Nov-2003
Admission Sponsor
-
Sponsor
-
Financial Year
31-Dec-2003
Quarter
30-Sep-2003 [#3]
Profit Trend
QoQ- 121.94%
YoY- 53.57%
Quarter Report
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Annualized Quarter Result
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Revenue 6,609,232 6,109,864 5,496,898 5,398,962 5,397,514 5,737,624 4,458,227 30.04%
PBT 664,352 548,616 249,624 186,396 85,782 355,624 197,964 124.31%
Tax -68,834 -58,768 -67,340 -21,957 -11,692 -27,556 -45,031 32.73%
NP 595,518 489,848 182,284 164,438 74,090 328,068 152,933 147.71%
-
NP to SH 595,518 489,848 182,284 164,438 74,090 328,068 152,933 147.71%
-
Tax Rate 10.36% 10.71% 26.98% 11.78% 13.63% 7.75% 22.75% -
Total Cost 6,013,714 5,620,016 5,314,614 5,234,524 5,323,424 5,409,556 4,305,294 24.98%
-
Net Worth 1,234,027 1,123,488 1,001,062 955,792 869,285 946,797 861,920 27.05%
Dividend
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Div 120,003 - 75,001 - - - 53,997 70.38%
Div Payout % 20.15% - 41.15% - - - 35.31% -
Equity
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Net Worth 1,234,027 1,123,488 1,001,062 955,792 869,285 946,797 861,920 27.05%
NOSH 300,009 300,004 300,006 299,997 299,919 299,970 299,986 0.00%
Ratio Analysis
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
NP Margin 9.01% 8.02% 3.32% 3.05% 1.37% 5.72% 3.43% -
ROE 48.26% 43.60% 18.21% 17.20% 8.52% 34.65% 17.74% -
Per Share
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
RPS 2,203.01 2,036.59 1,832.26 1,799.67 1,799.66 1,912.73 1,486.14 30.03%
EPS 198.50 163.28 60.76 54.81 24.70 109.36 50.98 147.70%
DPS 40.00 0.00 25.00 0.00 0.00 0.00 18.00 70.37%
NAPS 4.1133 3.7449 3.3368 3.186 2.8984 3.1563 2.8732 27.05%
Adjusted Per Share Value based on latest NOSH - 300,031
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
RPS 2,203.30 2,036.83 1,832.49 1,799.84 1,799.36 1,912.74 1,486.23 30.04%
EPS 198.53 163.30 60.77 54.82 24.70 109.37 50.98 147.72%
DPS 40.01 0.00 25.00 0.00 0.00 0.00 18.00 70.40%
NAPS 4.1138 3.7453 3.3372 3.1863 2.8979 3.1563 2.8734 27.05%
Price Multiplier on Financial Quarter End Date
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Date 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 -
Price 6.60 6.15 4.46 4.04 4.14 3.40 3.80 -
P/RPS 0.30 0.30 0.24 0.22 0.23 0.18 0.26 10.01%
P/EPS 3.32 3.77 7.34 7.37 16.76 3.11 7.45 -41.68%
EY 30.08 26.55 13.62 13.57 5.97 32.17 13.42 71.35%
DY 6.06 0.00 5.61 0.00 0.00 0.00 4.74 17.81%
P/NAPS 1.60 1.64 1.34 1.27 1.43 1.08 1.32 13.69%
Price Multiplier on Announcement Date
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Date 16/08/04 11/05/04 17/02/04 18/11/03 26/08/03 28/05/03 24/02/03 -
Price 7.40 6.15 4.50 4.20 4.38 3.88 3.26 -
P/RPS 0.34 0.30 0.25 0.23 0.24 0.20 0.22 33.70%
P/EPS 3.73 3.77 7.41 7.66 17.73 3.55 6.39 -30.17%
EY 26.82 26.55 13.50 13.05 5.64 28.19 15.64 43.31%
DY 5.41 0.00 5.56 0.00 0.00 0.00 5.52 -1.33%
P/NAPS 1.80 1.64 1.35 1.32 1.51 1.23 1.13 36.43%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.

NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ & YoY figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.

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