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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of May, 2003
Commission File Number 000-50184
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Yantai Daihua Holdings Company Limited
(Translation of registrant's name into English)
East of Muping, Yantai, Shandong, People's Republic of China
(Address of principal executive offices)
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Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________.
YANTAI DAHUA HOLDINGS CO. LTD.'S SUBSIDIARY
REPORTED FINANCIAL RESULTS FOR FISCAL 2002
Yantai, China -May 6, 2003-Yantai Dahua Holdings Co. Ltd. (OTC BB: YDHCF), a
leading paper manufacturer in Shandong, China, today announced that its
wholly-owned subsidiary, Australia China Investments Ltd. ("ACIL"), reported, on
a pro-forma basis, an operating revenue of approximately US$ 12.35 million and a
net income after tax and minority interest of approximately US$ 837 thousand for
the fiscal year ended December 31, 2002. On October 1, 2002, ACIL acquired an
85% interest in Yantai Dahua Paper Industry Co. Ltd. Pursuant to a share
exchange agreement of January 10, 2003, the former Equity Finance Holding
Corporation acquired all the outstanding shares of ACIL and resulted in the
company's control being taken over by the existing management and had its name
changed to Yantai Dahua Holdings Co. Ltd.
"The pro-forma net income after tax and minority interest of US$ 837 thousand
for 2002 is over five times the comparable figure of US$ 153 thousand for that
of 2001. The significant improvement was a result of a series of rationalization
programs for our production process we conducted during the year. We are
confident that further growth can be achieved for 2003." Mr. Yuxiang Tang,
Chairman of YDHCF, commented.
ABOUT YANTAI DAHUA HOLDINGS CO. LTD.
Yantai Dahua Holdings Co. Ltd. is engaged in, through its subsidiaries, the
manufacturing and sales of paper principally for printing and writing in China.
It is a leading paper manufacturer in Shandong, China and employs a total of
1,180 staff. The Company's marketing teams distribute its products through six
sales offices in different parts of China to cater for its clientele of over 210
well-established publishing houses, printing companies and other state-owned
material supplies companies. Under the leadership of its experienced management,
the Company expects to expand its production capacity to meet the anticipated
increase in the demand for paper and that such increased demand is projected to
result in growth in the Company's revenues and net income.
FORWARD-LOOKING STATEMENTS.
This release contains certain forward-looking statements concerning recent and
future economic performance and the plans and objectives of management for
future operations. These forward-looking statements can be identified by the
use of such words as "project," "expect" and "anticipate," and variations of
such words. Actual results might differ materially from such projections,
expectations and anticipations, due to general economic conditions, supply and
demand for paper, labor conditions, the availability of requisite financing and
other factors.
Source: Yantai Dahua Holdings Company Limited
Contact: Mr. K.M. Wong
Stanford Capital International Limited
Tel : (852) 2598 0281
Email: km@stock-update.com
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
YANTAI DAHUA HOLDINGS COMPANY LIMITED
/s/ Tang Yuxiang
By:___________________________
Tang Yuxiang, Chairman and Chief Executive Officer
Date: May 6, 2003