1、SHIJIAZHUANG BAOSHI ELECTRONIC GLASS CO.,LTD.REPORT FOR THE FIRST QUARTER OF 2002 Important Declaration:The Board of Directors of the Company hereby guarantees that there are no misstatement,misleading representation or important omissions in this report and shall assume joint and several liability
2、for the authenticity,accuracy and completeness of the contents hereof.The quarterly financial statements of the Company have not been audited.I.Brief Introduction of the Company(I)Statutory name of the Company In Chinese:In English:SHIJIAZHUANG BAOSHI ELECTRONIC GLASS CO.,LTD.Short form of English N
3、ame:SJZBS(II)Legal Representative:Dong Qingxiang(III)Secretary of the Board of Directors:Luo Lina Authorized representative:Li Xinjian Contact address:No.2,Huaqing Street,Zhongshan East Road,Shijiazhuang,Hebei Province(the Securities Dept.of the Company)Tel:0311-6044705 Fax:0311-6041503(IV)Registere
4、d Address:No.9,Huanghe Road,Shijiazhuang High-tech Industrial Development Area,Hebei Province Office Address:No.9,Huanghe Road,Shijiazhuang High-tech Industrial Development Area,Hebei Province Zip Code:050035 E-mail:bsdzsj-(V)Newspapers for Information Disclosure:China Securities Daily,Hong Kong Com
5、mercial Daily Internet Web Site for Publishing the Quarterly Report:http:/The Place Where the First Quarter Report is Prepared and Placed:Securities Dept.of the Company(VI)Stock Exchange with Which the Companys Stocks Are Listed:Shenzhen Stock Exchange Short Form of the Stock:BAOSHI A,BAOSHI B Stock
6、 Code:000413 200413 II Review and Prospect of Business(I)Business Highlights in the Report Period Due to the malicious competition of domestic color TV market,the price of the upstream products including color kinescope and color bulb continued to lower.Influenced by this situation,the operating pro
7、fits of the Company decreased by big margin over the same period of the previous year.Facing grim operation situation,the Company strengthened technical renovation,quickened the adjustment of product variety and structure and made efforts to reduce product cost.In the report period,the Companys outp
8、ut and sales volume of pins and anode caps were 31.23 million and 19.22 million.The Joint Venture Companys output and sales volume of color bulb(”21)were 2.92 million sets and 2.53 million sets.The income from key business,the profit from key business,total profit and net profit earned by the Compan
9、y were RMB 10.86 million,RMB 4.95 million,RMB 0.93 million and 0.36 million.(II)Investment of the Company In the report period,the furnace ignition and heating-up for the project of L-35 glass tube production line renovated and constructed with self-raised funds were completed as scheduled.The shapi
10、ng area has entered the stage of trial production.By the end of the period,total investment of RMB 43 million was made.(III)Operating result and financial status 1.Indicator analysis of the operating result(1)Income from the key business,profit from the key business and net profit(consolidated)(RMB0
11、00)Item Report period The same period of the previous year Increase/decrease Reason for change Income from the key business 10860 21010-48.31%Lowering of product price Profit from the key business 4950 8230-39.85%Decrease of the income from the key business Net profit 360 42680-99.16%Reduction of in
12、vestment income(2)The proportion of income and expenses to total profit(consolidated)(RMB000)Item Amount Proportion of total profit(%)This period 2001 This period 2001 Total profit 930 51330-Profit from the key business 4950 24380 532.26 47.50 Profit from other businesses 3870 19990 416.13 38.94 Per
13、iod expenses 11240 50920 1208.60 99.20 Investment income 2770 58860 297.85 114.67 Subsidy income-Net non-operating income and expenses 580-990 62.37-Reason for change:The change of the proportion of the above indicator to the total profit resulted from the reduction of investment income and total pr
14、ofit caused by sharp lowering of the selling price of the leading products and color bulbs of the Company.(3)There were no seasonal income and expenses in the report period.(4)There were no material non-recurring gains and losses in the report period.2.Financial position of the Company(1)Financial p
15、osition statement(consolidated)(RMB000)Item Amount Proportion of the total assets(%)Balance at the end of the period Balance at the beginning of the period Balance at the end of the period Balance at the beginning of the period Total assets 1528140 1538930-Monetary capital 17440 34450 1.14 2.24 Acco
16、unts receivable 25250 23460 1.65 1.52 Inventory 23880 23260 1.56 1.51(2)In the report period,the Company neither entrusted others to manage its material assets nor borrowed funds nor have material overdue debts.3.In the report period,the Company neither got involved in any material lawsuit or arbitr
17、ation nor provided guarantee to other companies.There were no important events subsequent to the date of balance sheet.4.The influence of the change of production environment,policies,laws and regulations on the Company(1)In the report period,the sharp lowering of the selling price of the main produ
18、cts of the Company,i.e.,pins and anode caps and the color bulbs of the Joint Venture Co.seriously influenced the economic result of the Company.It is estimated that 2002 interim net profit of the Company will decrease by over 50%over the same period of the previous year.At present,the Company is act
19、ively implementing 2002 production and operation plan and trying to minimize the unfavorable influence of market deterioration on the Company.(2)According to the provisions of CS(2000)No.99 Document issued by the Ministry of Finance and JCQ(2000)No.74 Document issued by Hebei Financial Commission,th
20、e corporate tax is to be levied against the Company at the tax rate of 33%from January 1,2002.III.Financial and accounting report 1.The quarterly financial and accounting report of the Company was unaudited.2.Financial statements Simplified Consolidated Balance Sheet Prepared by:Shijiazhuang Baoshi
21、Electronic Glass Co.,Ltd.RMB 000 Item Year-beginning balance Balance at the end of the report period Current assets 514230 497990 Long-term liabilities 800240 803010 Net fixed assets 167950 164240 Intangible assets and other assets 14760 14680 Total assets 1538930 1528140 Current liabilities 888770
22、876920 Long-term liabilities-Minority interests 89270 89290 Shareholders equity 560880 561940 Total liabilities and shareholders equity 1538930 1528140 Simplified Consolidated Profit Statement Prepared by:Shijiazhuang Baoshi Electronic Glass Co.,Ltd.RMB 000 Item Report period Income from the key bus
23、iness 10860 Profit from the key business 4950 Profit from other business 3870 Period expenses 11240 Investment income 2770 Net non-operating income and expense 580 Income tax 720 Net profit 360 3.Notes to Financial Statements There is no material difference between the accounting polices,accounting
24、estimation and the consolidation scope of the financial statements adopted in the report period and those in 2001.IV.List of Documents Available for Inspection 1.The original of quarterly report bearing the signature of the chairman of the board of directors;2.Financial statements bearing the seal and signature of legal representative,financial controller and the person in charge of the accounting organ.Shijiazhuang Baoshi Electronic Glass Co.,Ltd.April 26,2002
