EXHIBIT 11
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SUNBASE ASIA, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 1997 AND 1998
(Amounts in thousands, except number of shares and per share data)
Nine Months Ended September 30, Three Months Ended September 30,
------------------------------ --------------------------------
1997 1998 1998 1997 1998 1998
RMB RMB US$ RMB RMB US$
--- --- --- --- --- ---
BASIC
Net income (loss), as reported 44,772 (30,092) (3,626) 10,076 (20,698) (2,495)
======== ======== ======== ======== ======== ========
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 515,364 515,364 875,971 875,971
Share issued as a result of rounding
from reverse stock split 32 3 3 32 3 3
---------- ---------- ---------- ----------- ---------- ----------
Weighted average number of
shares of common stock and
common stock outstanding 12,700,141 13,215,509 13,215,509 12,700,141 13,576,116 13,576,116
========== ========== ========== ========== ========== ==========
Earnings/(Loss) per common share 3.53 (2.28) (0.27) 0.79 (1.53) (0.18)
========== ========== ========== =========== ========== ==========
26
SUNBASE ASIA, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 1997 AND 1998
(Amounts in thousands, except number of shares and per share data)
Nine Months Ended September 30. Three Months Ended September 30.
------------------------------- --------------------------------
1997 1998 1998 1997 1998 1998
RMB RMB US$ RMB RMB US$
--- --- --- --- --- ---
DILUTED
Net income (loss), as reported 44,772 (30,092) (3,626) 10,076 (20,698) (2,495)
Add after tax interest expense
applicable to Convertible
Debentures 8,584 - - 2,860 - -
---------- ---------- ----------- ---------- ---------- ----------
Net income, as adjusted 53,356 (30,092) (3,626) 12,936 (20,698) (2,495)
========== ========== ========== ========== ========== ==========
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 515,364 515,364 515,364 875,971 875,971
Share issued as a result of rounding
from reverse stock split 32 3 3 32 3 3
---------- ---------- ----------- ---------- ---------- ----------
Weighted average number of 12,700,141 13,215,509 13,215,509 12,700,141 13,576,116 13,576,116
shares of common stock
outstanding
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 - -
---------- ---------- ----------- ---------- ---------- ----------
Total weighted average
number of
shares of common stock and
common stock equivalents 19,280,141 13,215,509 13,215,509 19,280,141 13,576,116 13,576,116
outstanding ========== ========== ========== ========== ========== ==========
Earnings/(Loss) per share 2.77 (2.28) (0.27) 0.67 (1.53) (0.18)
==== ==== ==== ==== ==== ====
27