EXHIBIT 11
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SUNBASE ASIA, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 1996 AND 1997
(Amounts in thousands, except number of shares and per share data)
Six Months Ended June 30, Three Months Ended June 30,
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1996 1997 1997 1996 1997 1997
RMB RMB US$ RMB RMB US$
--- --- --- --- --- ---
PRIMARY
Net income, as reported 32,882 34,696 4,185 16,817 17,778 2,145
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Weighted average number of shares
of common stock outstanding:
Shares of common stock
outstanding on January 1 11,700,063 12,700,109 12,700,109 11,700,063 12,700,109 12,700,109
Shares issued as a result of rounding
from reverse stock split 41 31 31 41 31 31
1,000,000 shares of common stock
issued on June 10, 1996 109,890 - - 219,780 - -
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Weighted average number of shares
of common stock outstanding 11,809,994 12,700,140 12,700,140 11,919,884 12,700,140 12,700,140
Shares of common stock
issuable assuming conversion of
the Convertible Preferred Stock
- Series A 3,600,000 3,600,000 3,600,000 3,600,000 3,600,000 3,600,000
- Series B 680,000 680,000 680,000 680,000 680,000 680,000
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 16,089,994 16,980,140 16,980,140 16,199,884 16,980,140 16,980,140
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Earnings per common share
- Primary 2.04 2.04 0.25 1.04 1.05 0.13
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22
SUNBASE ASIA, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 1996 AND 1997
(Amounts in thousands, except number of shares and per share data)
Six Months Ended June 30, Three Months Ended June 30,
------------------------- ---------------------------
1996 1997 1997 1996 1997 1997
RMB RMB US$ RMB RMB US$
--- --- --- --- --- ---
FULLY DILUTED
Net income, as reported 32,882 34,696 4,185 16,817 17,778 2,145
Add after tax interest expense
applicable to Convertible
Debentures - 5,724 690 - 2,885 348
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Net income, as adjusted 32,882 40,420 4,875 16,817 20,663 2,493
========== ========== ========== ========== ========== ==========
Weighted average number of shares
of common stock outstanding:
Shares of common stock
outstanding on January 1 11,700,063 12,700,109 12,700,109 11,700,063 12,700,109 12,700,109
Shares issued as a result of rounding
from reverse stock split 41 31 31 41 31 31
1,000,000 shares of common stock
issued on June 10, 1996 109,890 - - 219,780 - -
---------- ---------- ---------- ---------- ---------- ----------
Weighted average number of shares
of common stock outstanding 11,809,994 12,700,140 12,700,140 11,919,884 12,700,140 12,700,140
Shares of common stock
issuable assuming conversion of
the Convertible Preferred Stock
- Series A 3,600,000 3,600,000 3,600,000 3,600,000 3,600,000 3,600,000
- Series B 680,000 680,000 680,000 680,000 680,000 680,000
Shares of common stock issuable
assuming conversion of the
Convertible Debentures on
August 23, 1996 - 2,300,000 2,300,000 - 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 16,089,994 19,280,140 19,280,140 16,199,884 19,280,140 19,280,140
========== ========== ========== ========== ========== ==========
Earnings per common share
- Fully Diluted 2.04 2.10 0.25 1.04 1.07 0.13
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