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Some interesting facts about listed companies' annual reports

By Hu Yang and Qiang Xiaoji (chinadaily.com.cn)
Updated: 2010-05-05 10:34

6. The most baffling creditor - Taiyuan Twin Tower Aluminum Oxide

In the annual report Taiyuan Twin Tower Aluminum Oxide filed with the Shenzhen Stock Exchange, a transaction it had with Taiyuan Public Security Bureau in the debt category is very puzzling.

The 3.58 million yuan ($524,470) debt the bureau owed to the company can be traced back five years and accounts for 6.59 percent of the company's other receivables. No credible explanation is offered.

7. The most successful moonlighter - Zhejiang Baili Electric

Zhejiang Baili Electric turned in a paradoxical annual report with its main business revenue dropping and non-operating revenue increasing.

The company's non-operating revenue in 2009 increased by 7.22 million yuan, up almost 90 percent year-on-year. The company's net profits surged by 30 percent over the previous year, largely due to gains on disposal of fixed assets and government subsidy.

On the other hand, its tungsten and molybdenum products business, the main business, witnessed negative growth.

8. The most drastic turn - Datang Telecom Technology

  Datang Telecom Technology, a major developer of the Chinese TD-SCDMA 3G standard, said on March 11 its net profit rose 25.91 percent to 57.47 million yuan in 2009 from the previous year.

Just one month later, on April 28, Datang reported a net loss of 15.42 million yuan in the first quarter of this year, down 331.18 percent year-on-year.

Its shareholders must feel like they're riding a rollercoaster.

9. The top earner - Industrial and Commercial Bank of China

Industrial and Commercial Bank of China (ICBC), the world's largest bank by market value, continued to be the country's most profitable company last year as it reaped 129.4 billion yuan of after-tax profits.

The bank saw a 16 percent increase in net profit last year from the 2008 level. Earnings per share rose 18 percent to 0.39 yuan from a year earlier.

10. The fastest growing - Beijing Dalong Weiye Real Estate Development

Beijing Dalong Weiye Real Estate Development reported the highest net profit increase in 2009. It reported a net profit of 339 million yuan, a 142-fold increase from the previous year.

The big profit increase was generated by the boom in the real estate market last year, but as government policies cool the market down, people begin to doubt whether it can maintain the same record in 2010.