GRANDY CORP<08143> - Results Announcement (Q1, 2006/2007, Summary)
Hua Xia Healthcare Holdings Limited (Formerly known as Grandy Corporation)
announced on 14 August 2006:
(stock code: 08143 )
Year end date :31 March 2007
Currency :HKD
Auditors' report :N/A
1st Quarterly Report Reviewed by :Audit Committee
Important Note :
This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at
http://www.hkgem.com
( Unaudited) (Unaudited)
Current Last Corresponding
Period Period
from 1 April 2006 from 1 April 2005
to 30 June 2006 to 30 June 2005
$'000 $'000
Turnover : 18,964 6,082
Profit/(Loss) from Operations : 5,720 (890)
Finance cost : (229) (17)
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : 5,202 (884)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : HKD 0.0101 (HKD 0.0026)
Diluted (in dollar) : HKD 0.0089 N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 5,202 (884)
1st Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st Quarter Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
(bdi: both days inclusive)
For and on behalf of
Hua Xia Healthcare Holdings Limited (Formerly known as Grandy Corporation)
Signature :
Name : Shum Ngai Pan
Title : Director
Responsibility statement
The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading.The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard to
the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.
Remarks:
1. Basis of Preparation
The unaudited consolidated results have been prepared under the
historical cost convention and in accordance with accounting
standards issued by the Hong Kong Institute of Certified Public
Accountants ("HKICPA"), accounting principles generally accepted in
Hong Kong and the disclosure requirements of Hong Kong Companies
Ordinance and the GEM Listing Rules.
In 2004, the HKICPA has issued a number of new and revised Hong
Kong Financial Reporting Standards and Hong Kong Accounting
Standards ("new HKFRS") which are effective for accounting periods
beginning on or after 1 January 2005. The Group has adopted the new
HKFRS in the preparation of financial statements from 1 April 2005
onwards. The adoption of these new HKFRS has no material impact
on the Group's results of operations and financial
position for the three months ended 30 June 2006.
The accounting policies adopted in preparing the unaudited
consolidated results for the three months ended 30 June 2006
are consistent with those followed in the preparation of the
annual financial statements for the year ended 31 March 2006.
2. Turnover
Turnover represents the aggreagte of net amounts received and
receivable from third parties in connection with the sales
of environmental protection porducts and provision of
related services, and provision of hospital management services.
Unaudited
Three months ended 30 June
2006 2005
HK$'000 HK$'000
Turnover
Sales of environmental protection
products and provision of related services 10,905 6,082
Provision of hospital management services 8,059 -
Total 18,964 6,082
3. Taxation
No provision for Hong Kong profits tax has been made in the
financial statements as the Group had no assessable profits
deriving from Hong Kong's operations during the period (2005: Nil).
Provision for corporate income tax of approximately 5% in average had
been made for income derived from the provision of hospital management
and environmental protection consultancy services in the PRC (2550:Nil)
4. Earnings/(loss) Per Share
The calculation of basic earnings (2004: loss) per share for the
three months ended 30 June 2006 was based on the net profit
for the period of approximately HK$5,202,000 (2004: loss HK$884,000)
and on the weighted average number of 517,403,548 shares
(2005: 344,119,516 shares (restated) in issue during the period
during the period after adjusting for the effects of the rights issue
on 11 April 2006. The basic loss per share for 2005 had been adjusted
accordingly.
Diluted earnings per share was calculated by adjusting the weighted
average number of ordinary shares outstanding to assume conversion of
all dilutive potential ordinary shares. For the three months ended 30
June 2006, the Company had one category of dilutive potential ordinary
shares: unlisted convertible notes. The unlisted convertible notes were
assumed to have been converted into ordinary shares and the net profit
was adjusted to emliminate the interest less the tax effect.
No diluted loss per share had been presented for the three months ended
30 June 2005 as share options outstanding during the three months ended
30 June 2005 had an anti-dilutive effect on basic loss per share.
5. Interim Dividend
The Directors do not recommend the payment of an interim
dividend for the three months ended 30 June 2006 (2005: Nil).
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