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China Sky Chemical Fibre reports 2QFY09 Results (14 Aug 09)

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  • Revenue: -57.49% (2Q09), -64.16% (1H09)
  • Net Profit: NM (2Q09), NM (1H09)
  • Outlook: The Group has completed the installation of production equipment for its new Super-Resilient (“SR”) nylon products in the last quarter of FY2008 and has since commenced trial production.
  • While originally scheduled for launch in early FY2009, the commercial production of SR products has been deferred to late FY2009 or FY2010, when the macro-economic fundamentals have hopefully improved.
  • To continue to fund its operations and its capital commitments with a mix of debts and equity, the Group is currently sourcing for additional short-term funding from banks in the PRC.

FINANCIAL RECORDS

Revenue (RMB '000)

FY 1Q 2Q 3Q 4Q Total

2009 176,437 269,864
2008 610,358 634,771 544,265 317,826 2,107,220
2007 489,435 569,395 608,585 620,639 2,288,054
2006 371,922 315,336 548,795 620,039 1,856,092
2005 214,614 301,126 342,791 324,238 1,182,769
2004 NA NA 208,699 188,765 759,138
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Earnings (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 (58,116) (10,977)
2008 163,416 166,340 98,339 (35,278) 392,817
2007 139,917 159,497 172,787 179,234 651,435
2006 108,908 87,736 157,542 155,615 509,799
2005 61,481 85,037 92,997 81,275 320,790
2004 NA NA 68,452 57,716 245,822
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Dividends

FY Interim Final Special (SGD)
2009 NA
2008 NA NA NA
2007 NA 0.020 NA
2006 NA 0.020 NA
2005 NA 0.005 NA
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Bonus / Rights / Stock Split

Date Type Details
NA
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Share Data (RMB)

NAV = $3.6683
EPS = $(0.0848) (6M FY09)
No of Shares = 814,576,470
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date

NA



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