I
annual report 2014
48
Directors’
Report
The Directors have pleasure in submitting their report and the audited financial statements of the Group and of the Company
for the financial year ended 31 December 2014.
PRINCIPAL ACTIVITIES
The principal activity of the Company is investment holding. The principal activities of the subsidiaries are set out in Note 9
to the financial statements. There have been no significant changes in the nature of these activities during the financial year.
RESULTS
Group
Company
RMB’000
RMB’000
Profit/(Loss) for the financial year
49,579
(235)
Attributable to:
Owners of the parent
49,579
(235)
DIVIDEND
No dividend has been paid, declared or proposed by the Company since the end of the previous financial year. The
Directors do not recommend any dividend in respect of the financial year ended 31 December 2014.
RESERVES AND PROVISIONS
There were no material transfers to or from reserves and provisions during the financial year other than those disclosed
in the financial statements.
ISSUE OF SHARES AND DEBENTURES
On 23 January 2014, the issued and paid-up share capital of the Company was increased from RMB488,281,461 to
RMB699,209,364 by way of:
(i)
rights issue of 241,998,950 new ordinary shares of USD0.10 each (“Rights Shares”) at an issue price of RM0.35 per
Rights Share for cash on the basis of four (4) Rights Shares for every twelve (12) existing ordinary shares held; and
(ii)
bonus issue of 181,499,212 new ordinary shares of USD0.10 each (“Bonus Shares”) on the basis of three (3) Bonus
Shares for every twelve (12) existing ordinary shares held.
The newly issued shares rank pari passu in all respects with the existing shares of the Company. There were no other
issues of shares during the financial year.
There were no issues of debentures during the financial year.
