Jilin Chemical Industrial Company Limited Announces Resolutions Passed at The Board Meeting
19 Abril 2005 - 8:58AM
PR Newswire (US)
Jilin Chemical Industrial Company Limited Announces Resolutions
Passed at The Board Meeting JILIN CITY, China and HONG KONG, April
19 /Xinhua-PRNewswire-FirstCall/ -- The board of directors of Jilin
Chemical Industrial Company Limited (HKSE: 0368; NYSE: JCC) held a
meeting on April 19, 2005 at No.9 Longtan Street, Longtan District,
Jilin City, Jilin Province, China. The first quarterly report for
2005 was approved by the board of directors of the Company. The
Company's quarterly financial statements prepared under the PRC
accounting rules and regulations were unaudited. During the three
months ended March 31, 2005, the Company processed 1.73 million
tons of crude oil, representing an increased of approximately 11.2%
as compared with the corresponding period of 2004; It recorded a
sales of products of approximately 2.17 million tonnes,
representing an increase of approximately 6.6% as compared with the
corresponding period of 2004; an income from principal operation of
approximately RMB 8,317.49 million, representing an increase of 32%
as compared with the corresponding period of 2004; a net profit of
approximately RMB 147.19 million, representing a decrease of
approximately 43% as compared with the corresponding period of
2004; a shareholders' equity of approximately RMB 6,000.81 million,
representing an increase of approximately 2.5% as compared with
that as at December 31, 2004. During the first quarter of 2005, the
Company had adopted effective measures to ensure the safe, stable,
optimized and full operation of its production facilities, to
increase the sales of petrochemical and synthetic rubber products
and reduce the financial costs to mitigate the adverse impact of
the unfavorable factors. However, the domestic price of the crude
price had been increasing due to the surge of crude oil price and
the rising range of the price of crude oil was higher than that of
gasoline and diesel oil in the PRC. As a result, the Company's net
profit decreased approximately 43% as compared with the
corresponding period of 2004. The Company is one of the largest
producers of basic chemical and chemical raw materials, and one of
the largest diversified chemical enterprises in the PRC. Its
primary business consists of the production of petroleum products,
petrochemical and organic chemical products, synthetic rubber
products, chemical fertilizers and other chemical products.
Contact: Mr. Li Chunqing Jilin Chemical Industrial Company Limited
Tel: +86-432-390-3651 Fax: +86-432-302-8126 Ms. Gladys Lee Fortune
China Public Relations Ltd. Tel: +852-2838-1162 Fax: +852-2834-5109
DATASOURCE: Jilin Chemical Industrial Company Limited CONTACT: Mr.
Li Chunqing of Jilin Chemical Industrial Company Limited,
+86-432-390-3651, or fax, +86-432-302-8126; Ms. Gladys Lee of
Fortune China Public Relations Ltd. for Jilin Chemical Industrial
Company Limited, +852- 2838-1162, or fax, +852-2834-5109
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