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China Flexible Packaging Shows Steady Improvement in 3Q2009 (14 Sep 09)

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  • Revenue: -36.74% (3Q09), -26.41% (9M09)
  • Net Profit: -74.12% (3Q09), -74.20% (9M09)
  • Press Release: Sustainable business records RMB 31.1M gross profit despite challenging times
  • Strong balance sheet earmarked by healthy cash balance of RMB 70.1M and debt-free
  • China Flexible successfully completed the installation of its fourth new production lines with production capacity over 37,000 tones per annum and trial run is underway
  • New production line strengthens the Group's position as one of the top few flexible packaging material manufacturers in Guangdong, PRC
  • Short term outlook remains challenging while long-term fundamental and outlook for packaging industries remain positive
  • Outlook: The Group’s installation of the newly imported production line with annual capacity of 37,000 tons per annum was successfully completed and is currently undergoing trial run.
  • The Group intend to commence production towards end of this year after successfully completion of the trial run.
  • With its additional production line, the Group's overall production capacity will increase to approximately 93,000 tons per annum, which would strengthen its position as one of the biggest flexible packaging material manufacturers in the Guangdong province of the People’s Republic of China.
  • The Group's management team remains confident that food and beverage business segment will remain our key market for growth.
  • The Group has taken this opportunity to increase its investments in human resources, process and infrastructure, such as production capability, information technology, so as to enhance its core competence and competitiveness during this challenging time.
FINANCIAL RECORDS

Revenue (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 179,035 166,584 180,532
2008 271,024 158,566 285,400 245,334 960,324
2007 266,020 280,423 283,191 284,099 1,113,733
2006 212,173 261,532 251,138 264,473 989,316
2005 206,442 217,897 215,530 190,909 830,778
2004 NA NA 162,987 204,157 655,662
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Earnings (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 5,808 7,301 9,792
2008 43,862 7,059 37,840 8,657 97,418
2007 41,525 43,662 52,222 43,036 180,445
2006 39,571 52,063 42,825 39,246 173,705
2005 52,249 46,010 40,899 (9,659) 129,499
2004 NA NA 46,411 60,958 185,546
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Dividends

FY Interim Final Special (RMB)
2009 NA
2008 NA NA NA
2007 NA 0.0967 NA
2006 NA 0.1000 NA
2005 NA 0.0960 NA
2004 NA 0.0860 0.034
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Bonus / Rights / Stock Split

Date Type Details
NA
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Share Data (RMB)

NAV = $3.22
EPS = $0.05 (9M FY09)
No of Shares = 486,129,104
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA



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