19 May 2011 07:00
Cathay International Holdings Limited
("Cathay" or the "Company")
Interim Management Statement
Hong Kong, 19 May 2011 - Cathay International Holdings Ltd. (LSE: CTI.L), an investment holding company and a leading investor in the growing healthcare sector in the People's Republic of China, today announces its Interim Management Statement for the period from 1 January to 19 May 2011 in accordance with the UK Listing Authority's Disclosure and Transparency Rules.
Business update
The overall financial performance of the Group's investments in the period since 1 January 2011 has been in line with the Company's expectations.
Key highlights:
·; Haotian Holdings Limited ("Haotian"), the Company's subsidiary, completed the installation of the
equipment to produce inositol and began trial production. Sales of inositol and its by-product dicalcium phosphate ("DCP") are targeted to commence in H2 2011. Haotian is aiming to be one of the largest global producers of inositol, a vitamin-like substance commonly used as an ingredient in dietary healthcare products - such as energy drinks, infant and baby milk powder and vitamin supplements. Food grade DCP is generally used as a nutritional supplement for flour, cake and pastry and as a food additive for biscuits, milk powder, cold drinks and ice cream powder.
·; On 16 March 2010, Lansen Pharmaceutical Holdings Limited ("Lansen"), the Company's subsidiary listed on the main board of the Hong Kong Stock Exchange, announced its results for the year ended 31 December 2010. Lansen continues to hold a market leading position in the rheumatology therapeutic area and is a major earnings contributor for the Group.
Financial position
There has been no significant change in the financial position of the Group since that reported as at 31 December 2010.
Summary and outlook
Supported by China's growing and dynamic economy, financial performance has been in line with the Company's expectations, and the Company looks forward to the remainder of the year with confidence and to increasing shareholder value.
-ENDS-
For further enquiries, please contact:
Cathay International Holdings Limited Eric Siu (Finance Director) Patrick Sung (Director and Controller) |
Tel: +852 2828 9289 |
M:Communications Mary-Jane Elliott / Nick Francis / Amber Bielecka |
Tel: +44 (0)20 7920 2330 |
About Cathay International Holdings Limited
Cathay International Holdings Limited ("CIH"), focused on the People's Republic of China ("PRC"), is an investment holding company and a leading investor in the growing healthcare sector in China. The Group now employs more than 1700 people across the PRC, including over 30 specialist corporate and business development staff based at the holding company's headquarters in Hong Kong and Shenzhen.
The Group aims to identify investment opportunities with emphasis on high growth healthcare markets and build them into market sector leaders, with a clear exit strategy. The Group has demonstrated a strong track record of identifying potential high-growth investment opportunities in this area, including: Lansen Pharmaceutical Holdings Limited, a leading specialty pharmaceutical company focused on rheumatology and Haotian Holdings Limited, a company engaged in the manufacture, marketing and sale of key active ingredients for healthcare products, including inositol. To complement its healthcare portfolio, CIH has an R&D business focused on bringing new products to the growing Chinese market.
The Group also has a private equity investment arm focused on minority investment opportunities and a hotel investment. The Company's website is at http://www.cathay-intl.com.hk.