china modern dairy holdings (1117) Snapshot

China Modern Dairy Holdings Ltd. reported unaudited consolidated cash flow results for the six months ended December 31, 2012. For the year, the company's net cash generated from operating activities was RMB 299.7 million compare with RMB 126.8 million a year ago. Purchases of property, plant and equipment was RMB 444.3 million compare with RMB 488.9 million a year ago.

China Modern Dairy Holdings Ltd. reported unaudited consolidated earnings results for the half year ended December 31, 2012. For the period, the company reported profit and total comprehensive income attributable to owners of the company of RMB 170,269,000 or 3.51 cents per diluted share on sales of milk produced of RMB 1,092,528,000 compared to profit and total comprehensive income attributable to owners of the company of RMB 159,934,000 or 3.30 cents per diluted share on sales of milk produced of RMB 735,640,000 reported a year ago. Profit before finance costs and tax was RMB 240,415,000 compared to RMB 191,929,000 reported a year ago. Profit before tax was RMB 181,614,000 compared to RMB 163,239,000 reported a year ago. The drop in EBIT margin was mainly due to the decrease in gain arising from changes in fair value less costs to sell of dairy cows as a result of the gradually stabilized mix of herds. Cash EBITDA (EBITDA before gain arising from changes in fair value less costs to sell of dairy cows and government grants) increased by 63.4% from RMB 136.3 million in the corresponding period last year to RMB 222.8 million for the interim period. As at 31 December 2012, the group has capital commitments of RMB 262.3 million related to acquisition of property, plant and equipment and nil for purchase of heifers. For the six months ended 31 December 2012, the group's net cash inflow from operating activities increased to RMB 299.7 million from of RMB 126.8 million in same period last period.

The board of directors of China Modern Dairy Holdings Ltd. announced that Mr. Deng Jiuqiang tendered to the Board his resignation as an executive director of the company on February 25, 2013. As stated in the resignation letter, his resignation was for age and health reasons. Mr. Deng's resignation was considered and approved at a meeting of the Board on February 26, 2013 and was effective from the conclusion of such board meeting.