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• Revenue: -24.4% (2Q09), -22.5% (1H09)
• Net Profit: -31.1% (2Q09), -32.0% (1H09)
• Press Release: Net Profit grew 134% quarter-on-quarter to RMB25.5 million in 2Q2009 on revenue of RMB177.7 million
• Gross Profit Margin improved to 24.5% in 2Q2009 from a weak 1Q2009’s 16.6%
• 2Q2009 achieves Record Sales volume, up 21% q-o-q
• Cash position of RMB285.9 million
• Outlook: Looking ahead, Chairman Xu says there still are some uncertainties for the year.
• The Group’s business will continue to be affected by the global slowdown, as the international tyre sector remains weak, although China has shown good growth in its automobile sales this quarter.
• In view of this, the Group expects selling prices to continue to be low, with any adjustments depending on prices of raw materials.
• Barring unforeseen circumstances, the Group expects to continue its profitability for FY2009.

FINANCIAL RECORDS

Revenue (RMB 'Mil)

FY 1Q 2Q 3Q 4Q Total
2009 134.1 177.7
2008 167.2 234.9 258.6 137.1 797.9
2007 125.6 159.6 154.8 179.6 619.5
2006 91.1 137.3 119.5 126.7 474.7
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Earnings (RMB 'Mil)

FY 1Q 2Q 3Q 4Q Total
2009 10.9 25.5
2008 16.5 37.0 45.0 8.1 106.7
2007 20.2 24.3 8.9 22.8 76.0
2006 10.8 17.7 14.4 20.4 63.3
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Dividends

FY Interim Final Special (SGD)
2009 0.01
2008 0.01 NA NA
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Bonus / Rights / Stock Split

Date Type Details
NA
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Share Data (RMB)

NAV = $1.1457
EPS = $0.0755 (6M FY09)
No of Shares = 478,912,000
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA