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, 1997 AND 1998
(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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1997 1998 1998 1997 1998 1998
RMB RMB US$ RMB RMB US$
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BASIC
Net income, as reported 34,696 (9,394) (1,131) 17,778 ( 427) ( 51)
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Weighted average number of shares
of common stock outstanding:
Shares of common stock outstanding
on January 1 12,700,109 12,700,142 12,700,142 12,700,109 12,700,142 12,700,142
Conversion of Series B Preferred
Shares 332,071 332,071 660,493 660,493
Share issued as a result of rounding
from reverse stock split 31 2 2 31 2 2
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Weighted average number of
shares of common stock outstanding 12,700,140 13,032,215 13,032,215 12,700,140 13,360,637 13,360,637
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Earnings / (Loss) per share 2.73 (0.72) (0.09) 1.40 (0.03) (0.00)
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22
SUNBASE ASIA, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 1997 AND 1998
(Amounts in thousands, except number of shares and per share data)
Six Months Ended June 30, Three Months Ended June 30,
------------------------------------- --------------------------------------
1997 1998 1998 1997 1998 1998
RMB RMB US$ RMB RMB US$
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DILUTED
Net income, as reported 34,696 (9,394) (1,131) 17,778 (427) (51)
Add after tax interest expense
applicable to Convertible
Debentures 5,724 - - 2,885 - -
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Net income, as adjusted 40,420 (9,394) (1,131) 20,663 (427) (51)
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Weighted average number of shares
of common stock outstanding:
Share of common stock
outstanding on January 1 12,700,109 12,700,142 12,700,142 12,700,109 12,700,142 12,700,142
Conversion of Series B Preferred
Shares 332,071 332,071 660,493 660,493
Share issued as a result of rounding
from reverse stock split 31 2 2 31 2 2
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Weighted average number of
shares of common stock outstanding 12,700,140 13,032,215 13,032,215 12,700,140 13,360,637 13,360,637
Shares of common stock
issuable assuming conversion of
the Convertible Preferred Stock
- Series A 3,600,000 - - 3,600,000 - -
- Series B 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 - -
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Total weighted average number of
shares of common stock and
common stock equivalents
outstanding 19,280,140 13,032,215 13,032,215 19,280,140 13,360,637 13,360,637
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Earnings /(Loss) per share 2.10 (0.72) (0.09) 1.07 (0.03) (0.00)
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23