NEW CAPITAL<01062> - Results Announcement
New Capital International Investment Limited announced on 20/09/2006:
(stock code: 01062 )
Year end date: 31/12/2006
Auditors' Report: N/A
Interim report reviewed by: Both Audit Committee and Auditors
(Unaudited ) Last
from 01/01/2006 from 01/01/2005
to 30/06/2006 to 30/06/2005
Note ($ ) ($ )
Turnover : 592,645 374,940
Profit/(Loss) from Operations : (3,410,019) (1,535,830)
Finance cost : N/A N/A
Share of Profit/(Loss) of
Associates : 866,457 (4,360,818)
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : (2,543,562) (5,896,648)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) : (0.00403) (0.00911)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (2,543,562) (5,896,648)
Interim Dividend : NIL NIL
(Specify if with other : N/A N/A
B/C Dates for
Interim Dividend : N/A
Payable Date : N/A
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : N/A
B/C Dates for Other
Distribution : N/A
(1) Reorganisation and basis of preparation
The Company was incorporated in the Cayman Islands on August 1, 2003 as an
exempted company with limited liability under the Companies Law, Cap. 22
(Laws of 1961 as consolidated and revised) of the Cayman Islands.
Pursuant to a reorganisation proposal whereby ING Beijing Investment
Company Limited ("ING Beijing") would become a wholly owned subsidiary of
the Company to be implemented by way of a scheme of arrangement under
section 166 of the Hong Kong Companies Ordinance, Chapter 32 of the Laws
of Hong Kong ("the Scheme") as stated in a document dated January 13, 2005
issued to the shareholders of ING Beijing, the Company became the holding
company of the companies now comprising the group on April 13, 2005, the
effective date of the Scheme. This was accomplished by the Company
acquiring the entire issued share capital of ING Beijing, the then holding
company of other subsidiaries, as set out in note 13 to the financial
statements of the Company in 2005 annual report.
The listing of the shares of ING Beijing was withdrawn from The Stock
Exchange of Hong Kong Limited (the "Stock Exchange") and the Company's
shares were listed on the Stock Exchange by way of introduction on April
(b) Basis of preparation / Principal accounting policies
The condensed financial statements have been prepared in accordance with
the applicable disclosure requirements of Appendix 16 to the Rules
Governing the Listing of Securities on the Stock Exchange and with Hong
Kong Accounting Standard 34 Interim Financial Reporting issued by the
The condensed financial statements have been prepared on the historical
cost basis except for certain financial instruments, which are measured at
The accounting policies used in the condensed financial statements are
consistent with those followed in the preparation of the Group's annual
financial statements for the year ended December 31, 2005.
In the current interim period, the Group has applied, for the first time,
a number of new standards, amendments and interpretations ("new HKFRSs")
issued by the HKICPA, which are either effective for accounting periods
beginning on or after December 1, 2005 or January 1, 2006. The adoption
of these new HKFRSs has had no material effect on how the results for the
current or prior accounting periods are prepared and presented.
Accordingly, no prior period adjustment has been required.
The Group has not early applied the following new standard, amendment and
interpretations that have been issued but are not yet effective. The
directors of the Company anticipate that the application of these
standard, amendment or interpretations will have no material impact on the
results and financial positions of the Group.
HKAS 1 (Amendment) Capital disclosures 1
HKFRS 7 Financial instruments: Disclosures 1
HK(IFRIC) - INT 7 Applying the restatement approach under HKAS 29 "
Financial Reporting in Hyperinflationary
HK(IFRIC) - INT 8 Scope of HKFRS 2 3
HK(IFRIC) - INT 9 Reassessment of Embedded Derivatives 4
1 Effective for annual periods beginning on or after January 1, 2007.
2 Effective for annual periods beginning on or after March 1, 2006.
3 Effective for annual periods beginning on or after May 1, 2006.
4 Effective for annual periods beginning on or after June 1, 2006.
(2) Basic loss per share and diluted loss per share
(a) Basic loss per share
The calculation of the loss per share attributable to the ordinary equity
holders of the Company is based on the following data:
Six months ended June 30
Loss for the purposes of loss per share 2,543,562 5,896,648
Number of shares
Weighted average number of ordinary shares
for the purpose of basic loss per share 630,513,503 647,114,000
= (HK$2,543,562) / 630,513,503 x 100
= (0.403) cents
(b) Diluted loss per share
No diluted loss per share has been presented as there were no potential
ordinary shares in both periods.