Jilin (NYSE:JCC)
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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