BUSINESS MARKET PROFIT PROCESS IMAGE Interim Report 2002 IMPROVING PRODUCTIVITY NORTH AMERICA BUILDING CUSTOMERS' VALUE CHINA ENHANCING SHAREHOLDERS' VALUE 2003 (Incorporated in Bermuda with limited liability)
1
130 120 110 100 90 80 70 60 97/98 98/99 99/00 00/01 01/02 02/03 10.0% 6.5 9.0% 5.5 8.0% 4.5 3.5 7.0% 2.5 6.0% 97/98 98/99 99/00 00/01 01/02 02/03 1.5 97/98 98/99 99/00 00/01 01/02 02/03 2
2, 3 1,305,136 1,318,533 (1,107,763) (1,153,584) 197,373 164,949 (56,221) (52,393) 25,017 37,715 3 166,169 150,271 (12,174) (8,751) (12,878) 145,244 137,393 288 689 (2,476) 1,311 143,056 139,393 4 (16,906) (15,773) 126,150 123,620 5 34,425 24,044 6 23.11 22.61 6 22.61 22.34 3
15 501,420 650,981 14,108 6,448 51,980 48,836 11 24,343 26,561 150,273 148,163 742,124 880,989 7 950,144 953,846 7 24,106 25,458 8 958 836 9 28,793 25,717 6,357 18,533 10 46,915 1,057,273 1,024,390 1,799,397 1,905,379 60,000 150,000 11 60,023 57,096 205,909 185,053 12,703 6,727 338,635 398,876 80,000 18,010 16,235 18,010 96,235 356,645 495,111 4
15 13 54,583 54,573 34,425,000 93,336,000 1,388,169 1,355,695 1,442,752 1,410,268 1,799,397 1,905,379 5
15 15 143,056 139,393 8,751 12,821 (13,560) (18,972) 60,268 58,825 (8,341) (13,150) (554) 1,352 1,352 (288) (689) 2,476 (1,311) 12,174 4,243 2,981 (1) (1) (25) (949) 209,551 180,300 (3,144) (5,762) (2,110) (26,063) 2,218 (7,798) 2,927 5,554 20,856 93,805 230,298 240,036 (9,923) (8,953) (142) 220,375 230,941 6
15 15 17,077 33,918 (65,196) (112,960) 3 14 3,892 4,023 33,533 (50,807) (15,901) (39,862) (200,000) 13,560 18,972 120 1,120 (3,901) (944) (98,074) (265,265) 223 2,573 (6,492) 325,000 360,000 (495,000) (270,693) (8,751) (12,821) (93,336) (82,479) (271,864) (9,912) (149,563) (44,236) 2 (3) 650,981 681,313 501,420 637,074 7
54,573 105,375 64,697 1,012 (2,470 ) 3,052 172,534 1,031,938 1,430,711 1 (20,443 ) (20,443 ) 54,573 105,375 64,697 1,012 (2,470 ) 3,052 172,534 1,011,495 1,410,268 213 213 (448 ) (448 ) (105 ) (105 ) (105 ) (448 ) (553 ) 126,150 126,150 (93,336 ) (93,336 ) 10 10 54,583 105,588 64,697 907 (2,470 ) 2,604 172,534 1,044,309 1,442,752 8
54,689 112,332 53,930 1,179 (2,470 ) 7,102 183,301 858,461 1,268,524 1 (20,443 ) (20,443 ) 54,689 112,332 53,930 1,179 (2,470 ) 7,102 183,301 838,018 1,248,081 2,473 2,473 (6,324 ) (6,324 ) 6,492 (6,492 ) (3 ) (3 ) 6,492 (3 ) (6,492 ) (3 ) 123,620 123,620 (82,479 ) (82,479 ) 100 100 (168 ) (168 ) 54,621 108,481 60,422 1,176 (2,470 ) 7,102 176,809 879,159 1,285,300 9
1. 20,443,000 20,443,000 10
1. 2. (i)(ii) 3. 4. 16%16% 14,365 11,073 1,534 142 1,775 3,850 17,674 15,065 46 136 (814) 572 16,906 15,773 11
5. 6.4 4.4 34,425 24,044 (a) (b) 17.1 6.4 6. 126,150,000 123,620,000 545,782,864546,810,503 557,971,462553,320,651 12,188,5986,510,148 7. 953,846 25,458 65,196 (8,630) (60,268) (1,352) 950,144 24,106 12
8. 898 776 60 60 958 836 242,000 553,000 120,000 1,120,000 9. (7,766) (6,615) 29,063 29,823 7,496 2,509 28,793 25,717 1,662,000 739,000 10. 13
11. 12. 403,489,000 482,113,000 1,460,762,000 1,506,503,000 13. a. 0.10 1,000,000 100,000 1,000,000 100,000 545,726 54,573 546,888 54,689 13.b 100 10 1,460 146 (2,622) (262) 545,826 54,583 545,726 54,573 14
13. b. 2.232 100,000 (100,000 ) 2.950 24,400,000 (300,000 ) 24,100,000 24,500,000 (100,000 ) (300,000 ) 24,100,000 14. a. 244,339 258,992 369,030 389,081 26,848 9,571 640,217 657,644 15
14. b. 7,591 6,943 62,104 122,843 69,695 129,786 c. (i) (ii) 950,904,000 861,000,000 15. 16
1,279,007 139,383 26,129 6,069 (2,396) 1,305,136 143,056 (a) (b) Manchu Wok Enterprises, Inc "MWEI" 316,954,000 11,344,000 Manchu Wok Enterprises II Inc "MWEII" 62,249,000 3,013,000 6.4 4.4 17
1,279,007 139,383 26,129 6,069 (2,396) 1,305,136 143,056 (a) (b) Manchu Wok Enterprises, Inc "MWEI" 316,954,000 11,344,000 Manchu Wok Enterprises II Inc "MWEII" 62,249,000 3,013,000 6.4 4.4 17
1,279,007 139,383 26,129 6,069 (2,396) 1,305,136 143,056 (a) (b) Manchu Wok Enterprises, Inc "MWEI" 316,954,000 11,344,000 Manchu Wok Enterprises II Inc "MWEII" 62,249,000 3,013,000 6.4 4.4 17
~~~ 18
~~~ 18
~~~~~~~~~~~~ 16 10 6 48 1 2 China Inn 21 Manchu Wok China InnManchu Wok 206 ~~~~~~~~~~~~ 19
2 3 6 5 VenturaFan Ting Manchu Wok New Market ~~~~~~~~~~~~ 20
32,772,000 19.8% 26% 23.8% 21
8,300 300 ~~~~~~~~~~~~~ ~~~~~~~~ 22
~~~ Forbes Global 3,121,407 1,189,400 (a) 3,120,000 (a) (b) 10,606,339 (a) (c) 1,320,000 132,000 (d) (e) 3,107,000 25,837 55,000 23
~~~ Forbes Global 3,121,407 1,189,400 (a) 3,120,000 (a) (b) 10,606,339 (a) (c) 1,320,000 132,000 (d) (e) 3,107,000 25,837 55,000 23
(a) (b) (c) (d) (e) 49,800,000 37,383,394 87,626,213 31,911,701 35,969,133 Wandels Investment Limited1 87,626,213 16.05% GZ Trust Corporation2 117,680,834 21.56% 1 Wandels Investment Limited (c) Barclays Private Bank & Trust Limited Wandels Investment Limited 2 GZ Trust Corporation (a) (d) (e) 24
(a) (b) (c) (d) (e) 49,800,000 37,383,394 87,626,213 31,911,701 35,969,133 Wandels Investment Limited1 87,626,213 16.05% GZ Trust Corporation2 117,680,834 21.56% 1 Wandels Investment Limited (c) Barclays Private Bank & Trust Limited Wandels Investment Limited 2 GZ Trust Corporation (a) (d) (e) 24
(i) 1,500,000 1,500,000 (i) 1,500,000 1,500,000 (i) 400,000 400,000 (i) 350,000 350,000 (i) 20,650,000 (300,000) 20,350,000 (ii) 100,000 (100,000)(iii) 24,500,000 (100,000) (300,000) 24,100,000 25
(i) (ii) (iii) 2.950 2.232 6.100 26
(i) (ii) (iii) 2.950 2.232 6.100 26
(i) (ii) (iii) 2.950 2.232 6.100 26