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CMZ Posts FY09 (12 Months) Net Profit of RMB34.4 million on Revenue of RMB172.0 million (12 May 09)

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  • Revenue: -17.0%
  • Net Profit: -17.6%
  • Press Release: This compares with net profit of RMB41.8 million on revenue of RMB207.2 million for the previous 15-month period
  • Newly set up subsidiary in HK has begun operation and saw certain positive results to-date
  • Based on current business trends as well as PRC Govt’s stimulus package, the Group is expected to continue be profitable in the next 12 month
  • Directors proposed a final tax-exempt dividend of 1.0 SGD cents per ordinary
    share, making a total of 2.0 SGD cents for FY09
  • Outlook: Barring any unforeseen circumstances, the Group expects a reasonable revenue to be registered from its Hong Kong subsidiary in the next 12 months.
  • Amid the current economic conditions, the Group will continue to focus on capitalizing its market strength in the PRC as well as to explore its opportunities in the global zipper market.
  • In view of the current revival, and depending on the positive development of the economic conditions, the directors believe that the Group would continue to be profitable in the next 12 months.
FINANCIAL RECORDS

Revenue (RMB '000)

FY 1H 2H Total
2009 108,622 63,361 171,983
2008 100,871 106,395 207,266 (15 Mths)
2007 91,131 86,147 177,278
2006 71,034 88,249 159,283
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Earnings (RMB '000)

FY 1H 2H Total
2009 21,593 12,822 34,415
2008 20,938 20,831 41,769
2007 19,668 22,079 41,747
2006 15,731 22,264 37,995
-----------------------------------------------------------
Dividends

FY Interim Final Special (SGD)
2009 0.010 0.010 NA
2008 NA 0.015 NA
-----------------------------------------------------------
Bonus / Rights / Stock Split

Date Type Details
NA
-----------------------------------------------------------
Share Data (RMB)

NAV = $0.614
EPS = $0.114 (12M FY09)
No of Shares = 297,836,000
-----------------------------------------------------------

ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA



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