[HUAYANG] QoQ Annualized Quarter Result on 30-Jun-2004 [#1]

Announcement Date
21-Jul-2004
Admission Sponsor
-
Sponsor
-
Financial Year
31-Mar-2005
Quarter
30-Jun-2004 [#1]
Profit Trend
QoQ- -0.45%
YoY- 50.41%
Quarter Report
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Annualized Quarter Result
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
Revenue 106,598 94,373 96,450 87,912 86,250 83,384 74,242 27.24%
PBT 25,014 23,065 24,960 22,748 23,370 23,265 18,774 21.06%
Tax -6,162 -5,904 -6,350 -5,992 -6,539 -6,597 -5,264 11.06%
NP 18,852 17,161 18,610 16,756 16,831 16,668 13,510 24.84%
-
NP to SH 18,852 17,161 18,610 16,756 16,831 16,668 13,510 24.84%
-
Tax Rate 24.63% 25.60% 25.44% 26.34% 27.98% 28.36% 28.04% -
Total Cost 87,746 77,212 77,840 71,156 69,419 66,716 60,732 27.77%
-
Net Worth 161,065 146,351 142,724 141,435 134,130 131,399 125,565 18.03%
Dividend
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
Div 6,298 - - - 4,501 - - -
Div Payout % 33.41% - - - 26.74% - - -
Equity
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
Net Worth 161,065 146,351 142,724 141,435 134,130 131,399 125,565 18.03%
NOSH 89,980 90,006 89,990 90,086 90,020 89,999 89,946 0.02%
Ratio Analysis
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
NP Margin 17.69% 18.18% 19.29% 19.06% 19.51% 19.99% 18.20% -
ROE 11.70% 11.73% 13.04% 11.85% 12.55% 12.68% 10.76% -
Per Share
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
RPS 118.47 104.85 107.18 97.59 95.81 92.65 82.54 27.21%
EPS 20.95 19.07 20.68 18.60 18.70 18.52 15.02 24.81%
DPS 7.00 0.00 0.00 0.00 5.00 0.00 0.00 -
NAPS 1.79 1.626 1.586 1.57 1.49 1.46 1.396 18.00%
Adjusted Per Share Value based on latest NOSH - 90,086
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
RPS 24.23 21.45 21.92 19.98 19.60 18.95 16.87 27.27%
EPS 4.28 3.90 4.23 3.81 3.83 3.79 3.07 24.77%
DPS 1.43 0.00 0.00 0.00 1.02 0.00 0.00 -
NAPS 0.3661 0.3326 0.3244 0.3214 0.3048 0.2986 0.2854 18.04%
Price Multiplier on Financial Quarter End Date
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
Date 31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 -
Price 0.76 0.86 0.79 0.83 0.92 0.89 0.87 -
P/RPS 0.64 0.82 0.74 0.85 0.96 0.96 1.05 -28.08%
P/EPS 3.63 4.51 3.82 4.46 4.92 4.81 5.79 -26.72%
EY 27.57 22.17 26.18 22.41 20.32 20.81 17.26 36.60%
DY 9.21 0.00 0.00 0.00 5.43 0.00 0.00 -
P/NAPS 0.42 0.53 0.50 0.53 0.62 0.61 0.62 -22.84%
Price Multiplier on Announcement Date
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
Date 26/05/05 21/02/05 25/11/04 21/07/04 24/05/04 09/02/04 21/11/03 -
Price 0.75 0.80 0.80 0.81 0.80 0.90 0.90 -
P/RPS 0.63 0.76 0.75 0.83 0.83 0.97 1.09 -30.59%
P/EPS 3.58 4.20 3.87 4.35 4.28 4.86 5.99 -29.02%
EY 27.93 23.83 25.85 22.96 23.37 20.58 16.69 40.90%
DY 9.33 0.00 0.00 0.00 6.25 0.00 0.00 -
P/NAPS 0.42 0.49 0.50 0.52 0.54 0.62 0.64 -24.46%

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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