(A) HORIZONTAL ANALYSIS

Net Revenues
Cost of goods sold
Gross profit
Selling expenses
General and administrative expenses
Other income
Other expenses
Finance income
Finance costs
Share of net results of associate
Profit before income tax
Income tax expense
Profit for the year
Other comprehensive (losses)/income
Cumulative translation adjustments
Actuarial loss from post-employment benefit
Related income tax expense
Other comprehensive losses, net of tax
TOTAL COMPREHENSIVE INCOME FOR THE Y
1. CURRENT RATIO (current assets/current liabilitie
current assets
current liabilites
Current Ratio
2. ACID TEST RATIO
Cash
Receivables (net)

Receivables (net)
Current Liabilities
Acid Test Ratio
3. PROFIT MARGIN (net income/net sales)
Net Income
Net Sales
Profit Margin

CONSOLIDATED STATEMENTS OF C
FOR THE YEARS ENDED DECEMBE
2013
75025207
-54953870
20071337
-4431470
-1039611
237451
-317237
48866
-69075
9449
14509710
-3691224
18200934

2012
66626123
-48118835
18507288
-4183635
-973203
59383
-114523
120025
-34684
2606
13383257
-3437961
16821218

-1108
-12490
3069
-10529
10807957

30917
-227713
56921
-139875
9805421

2013
21247830
12123790
1.7525732465
1.752 : 1

2012
21128313
11897977
1.7757903718
1.775 : 1

2013
657276
1179411
213749
42192
14075
2106703
12123790
0.2279797819
0.227 : 1

2012
783505
983865
92680
26262
269947
2156259
11897977
0.2470809954
0.247 : 1

2013
10807957
75025207
14.4058%

2012
9805421
66626123
14.7171%

2013

2012

4. ASSET TURNOVER (net sales/average assets)

Net Sales
Average Assets
Asset turnover

75025207
21188071.5
3.540917209
3.54 times

5. RETURN ON ASSETS (Net income/average assets

2013
Net Income
10807957
Average Assets
21188071.5
Return on Assets
51.0096%
EARNINGS PER SHARE
Net Income
Shares Outstanding
Earnings per share
DEBT TO TOTAL ASSETS (total debt/total assets)
Total debt
Total assets
Debt to total assets

66626123

2012
9805421

2013
2012
10807957
9805421
438300
438300
24.6588113165 22.371483003

13,249,559
27,404,594
48%

12,939,107
26,247,527
49%

LIDATED STATEMENTS OF COMPREHENSIVE INCOME

E YEARS ENDED DECEMBER 2013 AND 2012
Increase (or Decrease)
Amount
Percentage
8399084
12.61%
-6835035
14.20%
1564049
8.45%
-247835
5.92%
-66408
6.82%
178068
299.86%
-202714
177.01%
-71159
-59.29%
-34391
99.16%
6843
262.59%
1126453
8.42%
-253263
7.37%
1379716
8.20%
-32025
215223
-53852
129346
1002536

-103.58%
-94.52%
-94.61%
-92.47%
10.22%

Total assets 2013 21247830

Total assets 2012 21128313

Total assets 2011