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| FINANCIALS |
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Financial Statements
NT Holdings Ltd |
Financials representing 70% of Jinhai Group Ltd. |
(As of December 2005, unaudited statement under Chinese GAAP) |
Balance Sheet |
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| Cash |
228,735.49 |
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Short-term borrowing |
1,413,043.48 |
| Notes Receivable |
- |
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Account Payable |
1,204,390.36 |
| Account Receivable |
1,325,767.48 |
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Unearned Revenue |
1,334,605.57 |
| Other Receivable |
3,891,915.74 |
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Other Payable |
404,604.26 |
| Inventories |
2,791,533.50 |
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Tax Payable |
133.415.76 |
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Current Asset |
8,237,952.21 |
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Current Liabilities |
4,490,059.43 |
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Long-term Borrowing |
356,521.74 |
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Fixed Asset |
11,151,676.38 |
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Total Liabilities |
4,846,581.17 |
| Intangible Asset |
774,100.35 |
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Paid-in Capital |
5,478,260.87 |
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Other Reserve |
761,895.44 |
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Retain Earnings |
9,076,991.46 |
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Shareholder's Equity |
15,317,147.77 |
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| Total Asset |
20,163,728.94 |
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Total Liabilities & Shareholders' Equity |
20,163,728.94 |
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Income Statment
| Financials representing 70% of Jinhai Group Ltd. |
| (2003&2004's financial statements were audited according to Chinese GAAP, 2005's financial statement was unaudited) |
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| (In USD) |
2003 |
2004 |
2005 |
| Revenue |
27,799,839.50 |
22,928,175.17 |
28,123,864.29 |
| COGS |
21,464,382.56 |
18,310,941.75 |
20,734,545.33 |
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| Gross Profit |
6,335,456.94 |
4,617,233.43 |
7,389,318.97 |
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| Operation Expense |
1,391,257.87 |
1,341,663.21 |
1,142,141.63 |
| Financial Expense |
761,249.40 |
684,828.92 |
647,254.84 |
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| EBIT |
4,182,949.66 |
2,609,412.12 |
5,599,922.49 |
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| Other Income |
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18,670.82 |
136,664.35 |
| Other Expense |
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268,266.78 |
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| EBT |
4,182,949.66 |
2,609,412.12 |
5,468,320.06 |
| Income Tax |
684,780.56 |
745,039.39 |
1,558,373.08 |
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| Net Profit |
3,498,169.10 |
1,864,372.73 |
3,909,946.98 |
* Jinhai Group is a 70% owned subsidiary of NT Holdings Ltd. The above finanical statement illustrates approximate amount of asset and liabilites owned by NT Holdings Ltd. |
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