EXHIBIT 11
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SUNBASE ASIA, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
THREE MONTHS ENDED MARCH 31, 1996 AND 1997
(Amounts in thousands, except number
of shares and per share data)
Three Months Ended March 31,
----------------------------
1996 1997 1997
RMB RMB US$
--- --- ---
PRIMARY
Net income, as reported 16,065 16,918 2,038
========== ========== ==========
Weighted average number of shares
of common stock outstanding:
Shares of common stock outstanding 11,700,063 12,700,109 12,700,109
Shares of common stock
issuable assuming conversion of
the Convertible Preferred Stock
- Series A 3,600,000 3,600,000 3,600,000
- Series B 680,000 680,000 680,000
Shares of common stock issuable
assuming exercise of stock options,
reduced by the number of shares
which could have been purchased
with the proceeds from exercise of
such stock options - - -
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Total weighted average number of
shares of common stock and
common stock equivalents
outstanding 15,980,063 16,980,109 16,980,109
========== ========== ==========
Earnings per common share
- Primary 1.00 1.00 0.12
========== ========== ==========
20
SUNBASE ASIA, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
THREE MONTHS ENDED MARCH 31, 1996 AND 1997
(Amounts in thousands, except number
of shares and per share data)
Three Months Ended March 31,
----------------------------
1996 1997 1997
RMB RMB US$
--- --- ---
FULLY DILUTED
Net income, as reported 16,065 16,918 2,038
Add after tax interest expense applicable
to Convertible Debentures - 2,839 342
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Net income, as adjusted 16,065 19,757 2,380
========== ========== ==========
Weighted average number of shares of
common stock outstanding:
Shares of common stock outstanding 11,700,063 12,700,109 12,700,109
Shares of common stock issuable
assuming conversion of the
Convertible Preferred Stock
- Series A 3,600,000 3,600,000 3,600,000
- Series B 680,000 680,000 680,000
Shares of common stock issuable
assuming conversion of the
Convertible Debentures on
August 23, 1996 - 2,300,000 2,300,000
Shares of common stock issuable
assuming exercise of stock options,
reduced by the number of shares
which could have been purchased
with the proceeds from exercise of
such stock options - - -
---------- ---------- ----------
Total weighted average number of
shares of common stock and
common stock equivalents
outstanding 15,980,063 19,280,109 19,280,109
========== ========== ==========
Earnings per common share
- Fully diluted 1.00 1.02 0.12
========== ========== ==========
21