sia Fiber Holdings Ltd. Ticker: AFBR Page 1 of 10
Complete Financials: March 2001 Exchange OTC
FY END DEC
ISSUE DATA (07/06/01) PER SHARE DATA RATIOS
Price $ 1.17 EPS (TTM) $ 0.13 P/E (TTM) 9.07
52W High $ 4.25 Div. Rate $ 0.00 Yield 0.00 %
52W Low $ 0.18 Book Value $ 1.24 Price/Book 0.94
Shrs Out 30.24 Mil Cash $ 0.04 ROE (TTM) 10.78 %
Float 4.50 Mil Rev (TTM) $ 2.55 ROA (TTM) 6.76 %
Mon. Vol 0.25 Mil Curr. Ratio 1.46
Beta NA LT Dbt/Eqty 0.00
BRIEF: AFBR's only significant asset is its 100% equity
interest in Far Beyond. Far Beyond has a 70% equity interest
in Asibao, which manufactures and sells polyester fiber
products. For the 3 months ended 3/31/01, sales fell 15% to
RMB88.9M. Net income fell 44% to RMB6.0M. Revenues reflect
a decrease in sub-standard fiber sales and the selling price
of polyester staple fiber. Net income also reflects an
increase in the purchase price of polyester chips.
Copyright (c) 2001, Market Guide Inc., All rights reserved (more)
Asia Fiber Holdings Ltd. QUARTERLY SUMMARY Page 2 of 10
HISTORICAL QUARTERLY RESULTS(Thousands of Renminbi)
REVENUE 1999 2000 2001
1st Qtr MAR 104,278 104,676 88,915
2nd Qtr JUN 64,577 154,132
3rd Qtr SEP 139,543 156,664
4th Qtr DEC 143,820 123,021
EPS (Renminbi per share)
1st Qtr MAR 0.290 0.440 0.240
2nd Qtr JUN -0.040 0.430
3rd Qtr SEP 0.510 -0.230
4th Qtr DEC 0.910 0.620
3/14/00, Company changed its name from Asia Resource
Holdings Ltd. Hong Kong Phone Number: (852) 2810-6226.
DIVIDENDS EMPLOYEES
Last Dividend Decl. $ NA # Employees 1,100
Last Div Ex-Date NA Sales/Employee (TTM) 57,415
Last Div Pay Date NA Net. Income/Empl.(TTM) 4,432
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Asia Fiber Holdings Ltd. COMPANY COMPARISON Page 3 of 10
TO THE TEXTILES AND S&P 500 AGGREGATES
VALUATION RATIOS: COMPANY INDUSTRY S&P 500
P/E Ratio 9.07 15.68 27.71
Dividend Yield 0.00 0.93 1.30
Price to Tangible Book 0.94 3.03 8.45
Price to Book 0.94 2.00 5.91
Price to Free Cash Flow 22.08 26.16 42.83
GROWTH STATISTICS:
3 Yr Rev Growth 2.85 8.73 14.95
3 Yr EPS Growth -5.34 37.95 17.68
3 Yr Div Growth NM -19.08 10.94
Reinvestment Rate 100.00 90.12 72.52
PROFITABILITY RATIOS:
Net Profit Margin 7.72 -0.97 11.23
Return on Equity 10.78 5.18 19.88
Interest Coverage NM 1.41 9.08
FINANCIAL STRENGTH RATIOS:
Current Ratio 1.46 2.22 1.60
LT Debt to Equity 0.00 0.93 0.75
Total Debt to Equity 0.00 1.12 1.02
Copyright (c) 2001, Market Guide Inc., All rights reserved (more)
Asia Fiber Holdings Ltd. TRADING & PRICE PERFORMANCE Page 4 of 10
INSTITUTIONAL OWNERSHIP INSIDER TRADING (Prev. 6 months)
% Shares Out. Owned 0.00 % Net Insider Trades 0
# of Institutions 1 # Buy Transactions 0
Total Shs Held 0.000 Mil # Sell Transactions 0
3 Mo. Net Purch. -0.012 Mil Net Shares Bought 0.000 Mil
3 Mo. Shs Purch. 0.000 Mil # Shares Bought 0.000 Mil
3 Mo. Shs Sold 0.012 Mil # Shares Sold 0.000 Mil
4 Week Price % Change -42.9% 4 Week Rel. Price % Change -39.4%
13 Week Price % Change -49.4% 13 Week Rel. Price % Change -52.1%
26 Week Price % Change 522.3% 26 Week Rel. Price % Change 578.7%
52 Week Price % Change 87.2% 52 Week Rel. Price % Change 132.5%
YTD Week Price % Change 522.3% YTD Week Rel. Price % Change 590.1%
MARKET MAKERS: HRZG NITE SLKC SHRP ISLD NEED BTRD
Copyright (c) 2001, Market Guide Inc., All rights reserved (more)
Asia Fiber Holdings Ltd. EQUITY, OFFICERS & ADDRESS Page 5 of 10
Common Stock $.01 Par, 3/01, 75M auth., 30,244,284 issd.
Insiders own approx. 48%. 2 Others own 37%. 1/24/00, Company
acquired Far Beyond Investment Ltd., issuing 8,757,951
shares of Common in a reverse acquisition. 3/01, 2.5-for-1
stock split; 2/99, 1-for-138 reverse stock split. *All
shares prior the reverse acquisition are pro forma.
OFFICERS: Lung-Po Ching, Chmn., Rui-Min Zhao, Vice
Chmn./Pres., Feng-Jie Liu, CFO, Wai-On Wan, Secy., Ming-Xue
Liu, VP. TRANSFER AGENT: American Transfer & Trust Company.
Company incorporated in DE. Direct inquiries to: Jeff
Williams, Madison & Wall Worldwide, Inc.
ADDRESS & PHONE NUMBERS ADR INFORMATION
Asia Fiber Holdings Ltd. Shares Per ADR 1.00
RM 2005, 20/F Currency Name Renminbi
Universal Trade Center EXCH RATE (Local Curr./US $):
Central Most Recent 8.277
Hong Kong Year Average 8.270
PHONE: (407) 682-2001 Year End 8.270
FAX: (___) ___-____
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Asia Fiber Holdings Ltd. ANNUAL INCOME STATEMENT Page 6 of 10
(Thousands of Renminbi)
12M 12/31/97 12M 12/31/98 12M 12/31/99 12M 12/31/00
Sales 494,897 460,448 452,218 538,493
Total Revenue 494,897 460,448 452,218 538,493
Cost of Sales 407,852 375,559 364,174 475,816
Other Income 0 0 -913 0
Selling/Admin. 18,134 19,271 17,735 19,598
Doubtful Accounts 0 0 12,128 0
Total Expenses 425,986 394,830 393,124 495,414
Operating Income 68,911 65,618 59,094 43,079
Copyright (c) 2001, Market Guide Inc., All rights reserved (more)
Asia Fiber Holdings Ltd. ANNUAL INCOME STATEMENT Page 7 of 10
(Thousands of Renminbi)
12M 12/31/97 12M 12/31/98 12M 12/31/99 12M 12/31/00
Operating Income 68,911 65,618 59,094 43,079
Interest Expense -17,870 -16,129 -13,495 -11,283
Other, Net 464 5,435 8,517 19,583
Income Before Taxes 51,505 54,924 54,116 51,379
Income Taxes 0 4,568 268 4,377
Income After Taxes 51,505 50,356 53,848 47,002
Minority Interest -16,831 -16,502 -17,301 -15,951
Pri/Bas EPS Ex. XOrd 1.483 1.546 1.669 1.258
Pri/Bas EPS In. XOrd 1.483 1.546 1.669 1.258
Primary/Basic Avg Sh 23,387.75 21,895.66 21,895.66 24,685.54
Common Dividends/Shr 0.0000 0.0000 0.0000 0.0000
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Asia Fiber Holdings Ltd. SELECTED INCOME STATEMENT Page 8 of 10
(Thousands of Renminbi)
QUARTERS YEAR TO DATE
3M 03/31/00 3M 03/31/01 3M 03/31/00 3M 03/31/01
Revenue 104,676 88,915 104,676 88,915
Operating Expenses 86,338 79,872 86,338 79,872
Operating Income 18,338 9,043 18,338 9,043
Non-Operating Income -1,067 1,039 -1,067 1,039
Non-Operating Expenses 0 0 0 0
Income Before Taxes 17,271 10,082 17,271 10,082
Income Taxes 1,387 849 1,387 849
Adjustments to Income -5,131 -3,195 -5,131 -3,195
Inc. for Primary EPS 10,753 6,038 10,753 6,038
Pri/Bas EPS Ex. XOrd 0.439 0.243 0.439 0.243
Disc Opns + Xord Items 0 0 0 0
Pri/Bas EPS In. XOrd 0.439 0.243 0.439 0.243
Primary/Basic Avg Sh 24,486.88 24,881.32 24,486.88 24,881.32
Dilutd EPS Excl XOrd 0.439 0.243 0.439 0.243
Dilutd EPS Incl XOrd 0.439 0.243 0.439 0.243
Common Dividends/Shr 0.000 0.000 0.000 0.000
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Asia Fiber Holdings Ltd. SELECTED BALANCE SHEET Page 9 of 10
(Thousands of Renminbi)
YEAR ENDING QUARTER ENDING
12/31/99 12/31/00 03/31/01
Cash & ST Investments 8,427 11,403 8,768
Receivables 58,729 65,245 53,563
Total Current Assets 384,176 469,961 475,729
LT Investments 13,390 13,995 13,995
Fixed Assets 133,642 120,652 117,341
Total Assets 533,250 606,450 608,857
Accounts Payable 4,315 455 455
ST Debt & Curr LTD 177,880 181,600 0
Total Current Liab. 294,481 333,155 326,321
LT Debt & Cap Leases 0 0 0
Total Liabilities 316,469 357,338 353,699
Preferred Stock 0 0 0
Common/Paid In Capital 70,553 71,795 71,795
Retained Earnings 130,002 157,447 163,485
Total Equity 216,781 249,112 255,158
Shares Outstanding 21,896 24,881 24,881
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Asia Fiber Holdings Ltd. SELECTED STMT OF CASH FLOWS Page 10 of 10
INDIRECT METHOD (Thousands of Renminbi)
ANNUAL YEAR TO DATE
12M 12/31/99 12M 12/31/00 3M 03/31/00 3M 03/31/01
Net Income 36,547 31,051 0 0
Depreciation & Amort. 17,209 13,567 0 0
Non Cash Items 17,501 16,151 0 0
Total Operating CF 141,985 84,369 47,465 -25,468
Capital Expenditures -1,017 -577 -103 -65
Total Investing CF -137,518 -86,393 -42,870 26,333
Dividends Paid 0 0 0 0
Sale (Purch.) of Stock 0 1,242 1,242 0
Net Borrowings -1,520 3,720 5,000 -3,500
Total Financing CF -1,520 4,962 6,242 -3,500
Exchange Rate Effect 24 38 0 0
Net Change In Cash 2,971 2,976 10,837 -2,635
Oper CF-Cap Exp-Div Pd 140,968 83,792 47,362 -25,533
Copyright (c) 2001, Market Guide Inc., All rights reserved
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