China Vered Financial Holding

Financial Review
For the six months ended 30 June 2008, the Group’s unaudited consolidated turnover
was approximately HK$155,904,000, a decrease of approximately 62% from the
same period of last year. The decrease in turnover was mainly due to the tough
market environment continuing from last year, the earthquake in Wen Chuan, Sichuan
of the People’s Republic of China and stricter shipping and delivery guidelines
implemented for the Beijing Olympics. Unaudited net loss attributable to equity
holders was approximately HK$66,666,000 as compared to net profit of approximately
HK$43,291,000 in the corresponding period last year. The Board does not recommend
payment of interim dividend for the six months ended 30 June 2008 (2007: HK$Nil).
The total revenue of the Group recognized in the unaudited consolidated income
statement was as follows:
For the six months ended 30 June, in HK$’000
                                                                                                2008                      2007                 Change
Retail and distribution
of consumer products                                                         155,469              413,579              -62%
Rental income                                                                         435                           434                0%
Interest income                                                                     2,499                         4,541           -45%
Other income                                                                       6,801                        2,692             +1.5 times
Total revenue                                                                  165,204                      421,246              -61%