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| New China Homes Ltd. |
| 16/F Far East Consortium Building 121 Des Voeux Road, Hong Kong, Hong Kong |
| Business Description | The company was founded to become a leading developer of large, planned residential communities in china's rapidly emerging private home building market. |
| Offering Information Company has | |||
| Trading As | NEWC (NASNTL) | Industry | Construction (SIC 1521) |
| Type of Stock Offered | Common Shares | Filing Date | 9/2/99 |
| Domestic Shares Offered | 2,000,000 | Offer Date | 3/9/00 |
| Foreign Shares Offered | 0 | Filing Price | $5.00 |
| Company Shares | 2,000,000 | Offer Price | $5.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.500 |
| Gross Proceeds | $10,000,000 | Selling | - - |
| Expenses | - - | Reallowance | - - |
| Post-IPO Shares | 12,400,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Barron Chase Securities, Inc. | Lead Manager | (800) 747-1202 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 3/31/99 | 9/30/99 | |||||
| Revenues | - | - | - | - | 34.946 | - | 14.961 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | - | - | 3.366 | - | 1.201 |
| E.P.S | - | - | - | - | - | - | 0.120 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | 9.63 | 8.03 | - |
| Cash Flow - Oper. | -1.47 | - | 1.45 | ||||
| Cash Flow - Inv. | -1.62 | - | -1.63 | ||||
| Cash Flow - Fin. | 3.37 | - | 1.56 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 32.37 | Current Assets | - | Current Ratio | - |
| Total Liab. | 17.80 | Current Liab. | - | Debt Ratio | 54.98% |
| Total Equity | 14.57 | Working Cap. | - | Debt to Equity Ratio | 1.22 |
| Cash | 3.33 | Return on Assets | 3.71% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital and general corporate purposes, including the completion of additional phases of the California Gardens project and for future development of residential communities in China. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Baker & McKenzie |
| Bank's Law Firm | Carter, David A. |
| Registrar/Transfer Agent | Continental Stock Transfer & Trust Co |
| Auditor | Deloitte & Touche |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Far East Consortium International Limited | 91.83 | |
| Note: represents ownership of 5% or more prior to the offering. | ||