Xiwang Property Holdings Co., Ltd. · HKEX:2088
Xiwang Property — FY2005 Earnings Presentation
22 slides from Xiwang Property's earnings presentation, Apr 10, 2006
Slide 1: Corporate Presentation Annual Results 2005
Corporate Presentation Annual Results 2005 0
Slide 2: Agenda
Agenda Major Achievements in 2005 Financial Highlights Business Overview Future Strategies and Business Plans Open Forum 1
Slide 3: Major Achievements in 2005
Major Achievements in 2005 2
Slide 4: Major Achievements in 2005
Major Achievements in 2005 Ranked the first amongst the 20 largest enterprises in the PRC producing starch based glucose in 2005 Successfully listed on the Main Board of SEHK on 9 Dec 2005 Turnover amounted to approximately RMB 1,038m, up 72.2% Profit attributable to equity holders reached approxima
Slide 5: Financial Highlights
Financial Highlights 4
Slide 6: Results Highlights
Results Highlights For the year ended 31 Dec RMB 2005 2004 Change Turnover (Mn) 1,037.7 602.7 +72.2% Gross profit (Mn) 261.0 118.5 +120.3% Operating profit (Mn) 228.3 110.6 +106.5% Profit attributable to 209.8 81.7 +157.0% equity holders (Mn) Earnings per share 0.365 0.141 +158.9% 5
Slide 7: Continuous Growth in Turnover and Profit
Continuous Growth in Turnover and Profit Profit Attributable to Turnover Equity Holders RMB Mn RMB Mn 5 6 % 250 6 % 1200 :1 1,037.7 :4 7 209.8 G R G R CA 1000 200 CA 800 150 602.7 600 100 81.7 400 302.9 39.8 50 200 61.8 1.1 0 0 2002 2003 2004 2005 2002 2003 2004 2005 For the year ended 31 December 6
Slide 8: Turnover Analysis
Turnover Analysis 2005 2004 Glucose syrup 11.8% Lysine Glucose syrup 16.4% 6.0% Crystallised Crystallised glucose glucose 61.9% Corn refined 44.1% Corn refined products products 32.1% 27.6% 7
Slide 9: Improving Margins
Improving Margins Margin improvement 30% attributable to: Gross profit margin 25.2% Launch of higher 19.7% 20.3% 20.2% margin lysine products 20% Decrease in cost of Net profit margin 13.5% corn kernels 13.1% 10% Increase in selling 8.0% price of crystallised glucose 1.7% 0% 2002 2003 2004 2005 For
Slide 10: Margin Analysis
Margin Analysis Gross Margin by Product Categories % 2005 2004 Change Corn based 30.0 22.0 8 pts biochemical products - Crystallised glucose 30.0 22.0 8 pts - Glucose syrup 30.0 22.0 8 pts - Lysine 29.5 N/A N/A Corn refined products 13.0 14.0 -1 pts Overall 25.2 19.7 +5.5 pts 9
Slide 11: Other Financial Figures
Other Financial Figures As at 31 December 2005 2004 Total assets (RMB Mn) 1,387.5 669.1 Net assets (RMB Mn) 379.3 105.6 Net Cash (RMB Mn) 157.4 Net borrowing Current ratio 2.2 1.5 Gearing ratio* (%) 24.8 38.1 For the year ended 31 December 2005 2004 Inventory turnover days 37 32 AR turnover day 15 1
Slide 12: Business Overview
Business Overview 11
Slide 13: Increasing Production Capacity
Increasing Production Capacity As at 31 December tonnes 2005 2004 Completion of re- engineering of the starch Starch Paste 400,000 250,000 paste processing plant and glucose production plants Crystallised glucose 250,000 200,000 in March 2005 Further enhanced vertically Glucose Syrup 140,000 50,000
Slide 14: Strong R&D Capabilities
Strong R&D Capabilities Patented 1 type of production technology and 23 types under application in 2005 Research in progress:development of sorbic acid, ethylene glycol and improvement in the fermentation process Shanghai Zhao Guang Bio-engineering Design and Research Institute Co., Ltd. 13
Slide 15: Extensive Sales Network
Extensive Sales Network Expanding customer base As at 31 December, there are more than 400 domestic customers, spanning over 25 provinces and autonomous regions in Huhhot the PRC SHANDONG Actively expanding overseas Zhengzhou markets Shanghai Over 30 customers in 25 Chengdu overseas countries Quanzh
Slide 16: Future Plans
Future Plans 15
Slide 17: Expansion of Production Capacity
Expansion of Production Capacity Production capacity of starch paste and crystallised glucose will be significantly increased by the 3Q 2006 Annual Production 2005 3Q 2006 Change Capacity (tonnes) Starch paste 400,000 600,000 +50% Crystallised glucose 250,000 450,000 +80% 16
Slide 18: Expansion of Distribution Network
Expansion of Distribution Network Expand to other PRC provinces such as the southern area and the eastern coastal area Strengthen the services of existing distribution centres, including Sales support Market promotion activities After-sales services 17
Slide 19: Enhancement of R&D Capabilities
Enhancement of R&D Capabilities New product development Sorbic acid: a product derived from modified starch which can be widely used in a variety of industries Glycol: a kind of principal raw material for all organic chemical production processes Ethanol: a renewable energy to replace petroleum Impr
Slide 20: Capital Expenditures Plans
Capital Expenditures Plans Capital Completion Investment by Construction of new starch paste plant RMB 120 mil 3Q 2006 Construction of new crystallized RMB 200 mil 3Q 2006 glucose plant 19
Slide 21: Open Forum
Open Forum 20
Slide 22: Disclaimer
Disclaimer These materials are being furnished to you on a confidential basis and solely for your information only and may not be reproduced or distributed or passed on to any other person. Neither these materials nor any copy thereof may be given or distributed to the press or any other media. THES
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