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• Revenue: +73.1% (1Q10)
• Net Profit: +69.5% (1Q10)
• Press Release: Encouraging results is proof of management’s prudence and efficiency
• New production facilities set to drive growth with capacity for 3,000 tonnes boosters and 60 million units piston non-electric detonators
• Healthy revenue contribution of RMB 15.8 million from new business segment
• Earnings Per Share (EPS) soars 69.6% to RMB 8.38 cents
• NAV per share increases to RMB 1.40
• New dividend policy of payout at a minimum of 10% of net earnings, starting in FY2010
• Outlook: During the 3 months ended 30 September 2008 (“2Q2009”), the Group’s results were badly affected by the Beijing Olympics Games where certain restrictions were imposed on the Company’s subsidiary, Yinguang Technology.
• Baring unforeseen circumstances, the management does not expect such material event to recur during the coming 3 months ending 30 September 2009 (“2Q2010”), and thus its results for 2Q2010 should normalise.
• Mining activities in our major markets continue to remain relatively quiet with minor improvements, as seen from some improved sales by the Group in 1Q2010.
• Despite having seen these improvements, the board of directors remains cautious and will inform its shareholders of any material impact these economic conditions may have on the Group’s future performance.

FINANCIAL RECORDS

Revenue (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2010 83,164
2009 48,036 23,408 75,773 63,678 210,895
2008 41,107 56,697 59,815 81,828 239,447

FY 1H 2H Total
2007 74,488 106,903 181,391
2006 51,457 104,288 155,745
2005 NA NA 150,110
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Earnings (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2010 19,606
2009 11,568 1,050 14,341 7,977 34,936
2008 8,810 13,295 13,553 24,650 60,308

FY 1H 2H Total
2007 18,663 23,543 42,206
2006 17,643 36,438 54,081
2005 NA NA 35,065
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Dividends

FY Interim Final Special (SGD)
2009 NA NA NA
2008 NA NA NA
2007 NA 0.005302 NA
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Bonus / Rights / Stock Split

Date Type Details
NA
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Share Data (RMB)

NAV = $1.4044
EPS = $0.0838 (3M FY10)
No of Shares = 234,000,000
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA