China Ceramics Announces Fourth Quarter and Full Year 2012 Financial Results

 China Ceramics Announces Fourth Quarter and Full Year 2012 Financial Results

PR Newswire

JINJIANG, Fujian Province, China, April 24, 2013

JINJIANG, Fujian Province, China, April 24, 2013 /PRNewswire/ -- China
Ceramics Co., Ltd. (NASDAQ Global Market: CCCL) ("China Ceramics" or the
"Company"), a leading Chinese manufacturer of ceramic tiles used for exterior
siding and for interior flooring and design in residential and commercial
buildings, today announced financial results for the fourth quarter and for
the full year ended December 31, 2012.

Fourth Quarter 2012 Summary

  oRevenue was RMB 245.3 million (US$ 40.0 million), down 39.3% from the
    fourth quarter of 2011;
  oGross profit was RMB 29.3 million (US$ 4.9 million), down 79.0% from the
    fourth quarter of 2011;
  oGross profit margin was 12.0%, down 22.5% from the fourth quarter of 2011;
  oNet profit was RMB 13.3 million (US$ 2.3 million), down 85.6% from the
    fourth quarter of 2011;
  oOn a quarter-to-quarter sequential basis, revenue was down 36.5%, gross
    profit was down 73.4% and net profit was down 81.8%.
  oNon-GAAP net profit, which excludes the current quarter's share-based
    compensation expenses, was RMB 14.6 million (US$ 2.5 million), down 85.0%
    from RMB 97.5 million (US$ 15.3 million) in the fourth quarter of 2011;
  oEarnings per fully diluted share were RMB 0.65 (US$ 0.11).

Full Year 2012 Summary

  oRevenue was RMB 1,444.9 million (US$ 230.7 million), down 3.1% as compared
    to full year 2011;
  oGross profit was RMB 381.0 million (US$ 60.8 million), down 18.5% as
    compared to full year 2011;
  oGross profit margin was 26.4%, down 4.9% as compared to full year 2011;
  oNet profit was RMB 243.8 million (US$ 38.9 million), down 17.2% as
    compared to full year 2011;
  oNon-GAAP net profit, which excludes the current quarter's share-based
    compensation expenses, was RMB 249.5 million (US$ 39.8 million), down
    20.0% from RMB 311.7 million (US$ 48.4 million) as compared to full year
    2011;
  oEarnings per fully diluted share were RMB 11.93 (US$ 1.91).

"We recorded disappointing financial results for the fourth quarter of the
year due to continued challenging market conditions in China's real estate and
construction markets. These conditions resulted in significant decrease in
the sales volume of our ceramic tile products for the quarter. We also
experienced a decline in our average selling price in the quarter due to
intensified price competition in our sector that caused us to reduce the price
of our products to retain market share," said Mr. Jiadong Huang, CEO of China
Ceramics.

"Despite the quarter's results, we believe that the operating fundamentals of
our business are sound. In order to adjust to current market conditions and
reduce operating costs, we shut down some plant capacity during the fourth
quarter. We are currently utilizing production facilities capable of
producing 46 million square meters per year out of a total annual productive
capacity of 72 million square meters. We will continue to monitor the
macroeconomic environment and act prudently in terms of utilizing our full
production capacity. We are cautiously optimistic about an increase in demand
and a rebound in pricing beginning in the second quarter of 2013 that would
enable us to increase the utilization of our new and modern production
capabilities."

"We will continue to enhance our ceramic tile product offerings and
competitive profile in order to reach more customers in China and abroad. We
continue to be strategically positioned as a producer of high-end ceramic
tiles that are becoming standard in many new construction and development
projects. We are confident that our modern technologies and cost efficiencies
will enable us to adapt to the operating pressures of today's challenging
market environment and successfully execute upon our long-term strategy, which
is to be a market leader in producing specialized building materials
products," Mr. Huang continued.

"The urbanization and demographic trends in China are a long-term phenomenon
that will lead to future demand for our products as current real estate
fluctuations moderate over time. Even as we adopt measures in the short-term
to enable us to reach our customers more effectively, we are confident that
the branding and market positioning that enabled us to become a premier
ceramic tile producer will generate sound financial metrics once the building
materials sector returns to more normalized conditions," CEO Jiadong Huang
concluded.

Fourth Quarter 2012 Results

Revenue for the fourth quarter ended December 31, 2012 was RMB 245.3 million
(US$ 40.0 million), down 39.3% from RMB 404.5 million (US$ 63.8 million) for
the fourth quarter ended December 31, 2011. The year-over-year decrease in
revenue was primarily driven by a 29.8% decrease in the sales volume of
ceramic tiles to 8.7 million square meters in the fourth quarter of 2012 from
12.4 million square meters in the fourth quarter of 2011. The decrease in
revenue was also driven by a 13.8% decrease in the Company's average selling
price, which decreased in the fourth quarter of 2012 to RMB 28.2 per square
meter compared to RMB 32.7 per square meter in the comparable quarter of 2011.
The Company attributes its reduced sales volume to the continued challenging
business conditions in China's real estate sector. Beginning in December 2012,
the Company reduced the selling price of its ceramic tile products to be
competitive in the market and maintain its market share. The Company believes
that the decrease in the pricing of its ceramic tile products is temporary and
that product pricing will revert to normal levels once business conditions
improve.

Gross profit for the fourth quarter ended December 31, 2012 was RMB 29.3
million (US$ 4.9 million), down 79.0% from RMB 139.4 million (US$ 21.9
million) for the fourth quarter ended December 31, 2011. The year-over-year
decrease in gross profit was attributable to lower sales volume and the
decrease in the average selling price of the Company's ceramic tiles in the
quarter. Gross profit margin was 12.0% for the fourth quarter ended December
31, 2012 compared to 34.5% for the same period in 2011. The year-over-year
decrease in gross profit margin for the fourth quarter was caused by a
decrease in the average selling price of ceramic tiles in the quarter.

Administrative expenses for the fourth quarter ended December 31, 2012 were
RMB 6.6 million (US$ 1.1 million), down 45.9% from RMB 12.2 million (US$ 1.9
million) in the fourth quarter of 2011. The year-over-year decrease in
administrative expenses was primarily due to a reduction to RMB 1.3 million
(US$ 0.2 million) of non-cash share-based compensation expenses related to the
2010 Incentive Compensation Plan. The comparable non-cash share-based expenses
were RMB 5.4 million (US$ 0.8 million) in the same period in 2011. It is
expected that additional non-cash share-based compensation expenses of
approximately RMB 2.4 million (US$ 0.4 million) will be incurred between
January 2013 to January 2014.

Profit from operations before taxation for the fourth quarter ended December
31, 2012 was RMB 18.6 million (US$ 3.2 million), down 85.2% from RMB 125.4
million (US$ 19.7 million) in the fourth quarter of 2011. The year-over-year
decrease in profit from operations was primarily the result of lower gross
profit in the fourth quarter of 2012.

Net profit for the fourth quarter ended December 31, 2012 was RMB 13.3 million
(US$ 2.3 million), down 85.6% from RMB 92.2 million (US$ 14.5 million) in the
comparable period of 2011. The year-over-year decrease in net profit was
primarily the result of lower gross profit in the fourth quarter of 2012.

Earnings per fully diluted share were RMB 0.65 (US$ 0.11) for the fourth
quarter ended December 31, 2012, down 85.6% from RMB 4.51 (US$ 0.71) over the
same period in 2011. Earnings per fully diluted share in the fourth quarter of
2012 and 2011 were computed using 20.4 million shares.

Non-GAAP profit before taxation, which  excludes share-based compensation
expenses, was RMB 19.9 million (US$ 3.4 million) in the fourth quarter ended
December 31, 2012, down 84.8% from RMB 130.8 million (US$ 20.6 million) in
2011.

Non-GAAP net profit, which excludes share-based compensation expenses, was RMB
14.6 million (US$ 2.5 million) in the fourth quarter ended December 31, 2012,
a decrease of 85.0% from RMB 97.5 million (US$ 15.3 million) in the fourth
quarter of 2011.

Non-GAAP earnings per fully diluted share, which excludes share-based
compensation expenses, was RMB 0.71 (US$ 0.12) in the fourth quarter ended
December 31, 2012, down 85.1% from RMB 4.77 (US$ 0.75) in the same period of
2011.

Full Year 2012 Results

Revenue for the year ended December 31, 2012 decreased by 3.1% to RMB 1,444.9
million (US$ 230.7 million) compared to the year ended December 31, 2011.
Gross profit was RMB 381.0 million (US$ 60.8 million), down 18.5% from RMB
467.2 million (US$ 72.5 million) in the year ended December 31, 2011. Gross
margin was 26.4% compared to 31.3% in the same period of 2011. Selling
expenses were RMB 11.4 million (US$ 1.8 million), compared to RMB 11.8 million
(US$ 1.8 million) in the same period of 2011. Administrative expenses were RMB
30.0 million (US$ 4.8 million), compared to RMB 46.1 million (US$ 7.1 million)
for the same period of 2011. Net profit for the year ended December 31, 2012
was RMB 243.8 million (US$ 38.9 million), down 17.2% from the same period of
2011. Non-GAAP net profit, which excludes share-based compensation expenses,
was RMB 249.5 million (US$ 39.8 million) for the year ended December 31, 2012,
a decrease of 20.0% from RMB 311.7 million (US$ 48.4 million) in the same
period of 2011. Earnings per fully diluted share were RMB 11.93 (US$ 1.91) for
the year ended December 31, 2012 and RMB 12.21 (US$ 1.95) on a non-GAAP basis,
down from RMB 14.41 (US$ 2.24) and RMB 15.26 (US$ 2.37) on a non-GAAP basis in
the same period of 2011. Earnings per fully diluted share for the year 2012
and 2011 were computed using 20.4 million shares.

Fourth Quarter 2012 Statements of Selected Financial Position Items

  oCash and bank balances were RMB 89.4 million (US$ 14.4 million) as of
    December 31, 2012, compared with RMB 42.1 million (US$ 6.7 million) as of
    December 31, 2011. The increase in cash and bank balances was the result
    of sustained profits and reduced capital expenditures during the year
    ended December 31, 2012.
  oInventory turnover was 101 days as of December 31, 2012 compared with 84
    days as of December 31, 2011. The increase in inventory turnover reflects
    the decrease in sales volume of ceramic titles, which resulted in slower
    moving of finished goods at year-end 2012.
  oTrade receivables turnover was 117 days as of December 31, 2012 compared
    with 93 days as of December 31, 2011. The Company's trade receivables
    include a 17% value-added-tax ("VAT"), whereas reported revenue is net of
    VAT. Trade receivables turnover excluding VAT amounts was 100 days as of
    December 31, 2012 compared with 79 days as of December 31, 2011. The
    increase in average turnover days was mainly due to the Company having
    extended the credit period for certain customers to address funding
    pressures of those customers in the quarter ended December 31, 2012.
  oTrade payables turnover was 64 days as of December 31, 2012 compared with
    77 days as of December 31, 2011. The average turnover days were within the
    Company's normal credit period.

Liquidity and Capital Resources

Cash flow used in operating activities was RMB 33.2 million (US$ 5.2 million)
for the quarter ended December 31, 2012, compared to RMB 67.3 million (US$
10.5 million) of cash flow generated from operating activities in the same
period in 2011. The year-over-year decrease of RMB 100.5 million (US$ 15.7
million) was mainly due to the decrease in revenue in this quarter and the
extended credit period for certain customers at year-end 2012.

Cash flow generated from investing activities in the quarter ended December
31, 2012 was RMB 0.07 million (US$ 0.01 million) due to interest received,
compared to RMB 63.7 million (US$ 10.3 million) of cash flow used in investing
activities in the same period of 2011, due to acquisition of property, plant
and equipment.

Cash flow used in financing activities was nil for the quarter ended December
31, 2012, as compared to RMB 10.0 million (US$ 1.5 million) used in financing
activities for the same period of 2011, due to the repayment of bank
borrowings.

Plant Capacity and Capital Expenditures Update

Given the continued challenging economic climate for real estate development
and construction in China, the Company is currently utilizing plant facilities
capable of producing 46 million square meters of ceramic tiles annually out of
an annual production capacity out of 72 million square meters which is
available to the Company. This represents a reduction in plant capacity from
that utilized in the third quarter of 2012 capable of producing 56 million
square meters of ceramic tiles annually. Our Hengda facility has an annual
production capacity of 42 million square meters of ceramic tiles and we
utilized capacity capable of producing 34 million square meters of ceramic
tiles annually in the fourth quarter of 2012. Our Hengdali facility has an
annual productive capacity of 30 million square meters and we utilized
capacity capable of producing 12 million square meters of ceramic tiles
annually in the fourth quarter of 2012.

Management reviews the levels of capital expenditures throughout the year and
makes adjustments to its capital expenditures subject to market conditions.
The Company had no capital expenditures in the first and second quarters of
2012, and used $3 million in the third quarter for the replacement of old
equipment at its Hengda facility. The company had no capital expenditures in
the fourth quarter of 2012.

Business Outlook

As a result of the slowdown in China's construction and real estate sectors,
in the fourth quarter of 2012, the Company experienced a contraction in both
its sales volume and average selling price related to both the comparable
year-ago quarter and sequentially from the third quarter of 2012. The
Company's sales volume (the amount of square meters of ceramic tile sold)
decreased 29.8% in the fourth quarter relative to the comparable year-ago
quarter and 28.7% from the third quarter of 2012. In addition, the average
selling price of the Company's ceramic tiles decreased 13.7% in the fourth
quarter relative to the comparable year-ago quarter and 2.5% from the third
quarter of 2012. In the third quarter of 2012, the Company was able to
largely offset a decline in its sales volume through an improved average
selling price due to its customers' migration to higher margin ceramic tiles.
However, due to the sluggish construction sector and intensified competition,
the Company enacted a temporary strategy to reduce the average selling price
of its ceramic tile products in the fourth quarter in order to hold its market
position.

The Company was strategic in terms of determining those products for which it
temporarily reduced prices in order to avoid a widespread predatory pricing
environment or an erosion of its name brand. We believe that we needed to
counter the actions of ceramic tile producers who did not previously compete
with us but recently entered portions of our market with prices that were
lower than normal. We decided to compete with these competitors head-on in
order to retain our customers and market share.

Subsequent to the price cuts that the Company enacted in the fourth quarter,
we experienced an increase in our average selling price in February and March
from the lows that occurred in the December to January time frame, where we
reduced our average selling price in order to meet competitors' sharp
discounting and retain market share. Further, recent data from April shows a
return toa lesserdiscountprice environment which was in placeprior to
December of 2012.

As is widely known, China's real estate sector has been under pressure due to
speculative activities and government policies that restricted construction
with the intention to rein in rising prices. However, the Company sees some
positive developments in recent reports that the government is urging local
planning authorities to free up land supplies for housing development. It is
possible that the government report due out in late April could outline a
formal plan that would free up land supplies for housing which would spur real
estate development and construction. Further, reports indicate that real
estate developers have improved their liquidity as funding channels have
reopened. These factors could support the beginning of new construction
activity that would bode well for China's building materials sector and induce
a change in the current market environment.

The Company's backlog of orders for delivery in the first quarter of 2013 is
approximately RMB 141.9 million (US$ 22.8 million), which would represent a
year-over-year decrease in revenue for the first quarter of 2013 as compared
to revenues recorded in the first quarter of 2012. This negative
year-over-year comparison represents a change from previous quarters which had
generally shown strong positive year-over-year comparisons. Under normal
circumstances, the Company's backlog is an indicator of business in the next
quarter, though it is subject to change as a result of unforeseen business
conditions and events. The Company estimates that its sales volume of ceramic
tiles in the first quarter of 2013 will be approximately 6.1 million square
meters.

As indicated previously, the Company believes that this reduction has to do
with a general slowdown in the real estate and construction sectors in China
as customers are deferring orders and/or are waiting to start new projects.
Further, some of the Company's customers may be delaying projects to see if
the government adopts new policies to aid the construction industry. In terms
of the construction sector's long-term fundamentals, continued urbanization
and demographic trends favor the building of new residential properties in
China, and government support for an increase in both affordable and senior
housing should also generate opportunities for real estate development
companies.

Given the slowdown in domestic demand, the Company believes that it is
unlikely that it will bring the unused26 million square meters of annual
productive capacity online at its two facilities until macroeconomic
conditions improve. The Company's utilization of its online productive
capacity for its two facilities was 68.3% in the fourth quarter of 2012, a
decrease from 86.6% in the third quarter of 2012.

To retain its competitive edge, the Company will maintain its currently wide
range of product offerings and continue to augment it with new products from
its research and development program which has the potential to result in
products that realize higher margins. The Company believes that a core
competitive advantage is its ability to innovate and introduce new products
into the product mix for customers.

Dividends

The Company announced that it will pay a semi-annual cash dividend of $0.10
per share. The first two cash dividends will be payable on July 13, 2013 and
January 14, 2014, with record dates of June 13, 2013 and December 13, 2013,
respectively.

Conference Call Information

The Company will host a conference call at 8:00 am ET on Wednesday, April 24,
2013. Listeners may access the call by dialing +1 (866) 395-5819 five to ten
minutes prior to the scheduled conference call time. International callers
should dial +1 (706) 643-6986. The conference participant pass code is
51415868. A replay of the conference call will be available for 14 days
starting from 11:00 pm ET on April 24, 2013. To access the replay, dial +1
(855) 859-2056. International callers should dial +1 (404) 537-3406. The pass
code is 51415868 for the replay.

About China Ceramics Co., Ltd

China Ceramics Co., Ltd. is a leading manufacturer of ceramic tiles in China.
The Company's ceramic tiles are used for exterior siding, interior flooring,
and design in residential and commercial buildings. China Ceramics' products,
sold under the "Hengda" or "HD", "Hengdeli" or "HDL", the "TOERTO" and
"WULIQIAO" brands, and the "Pottery Capital of Tang Dynasty" brands, are
available in over 2,000 style, color and size combinations and are distributed
through a network of exclusive distributors as well as directly to large
property developers. For more information, please visit
http://www.cceramics.com.

Currency Convenience Translation

The Company's financial information is stated in Renminbi ("RMB"). The
translation of RMB amounts into United States dollars in the earning release
is included solely for the convenience of readers. For statements of financial
position data, translation of RMB into U.S. dollars has been made using
historic spot exchange rates published by www.federalreserve.gov. For
statements of comprehensive income data and statements of cash flows data,
translation of RMB into U.S. dollars has been made using the average of
historical daily exchange rates. Such translations should not be construed as
representations that RMB amounts could be converted into U.S. dollars at that
rate or any other rate, or to be the amounts that would have been reported
under IFRS.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking
statements" within the meaning and protections of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. Forward-looking statements include statements with
respect to our beliefs, plans, objectives, goals, expectations, anticipations,
assumptions, estimates, intentions, and future performance, and involve known
and unknown risks, uncertainties and other factors, which may be beyond our
control, and which may cause the actual results, performance, capital,
ownership or achievements of the Company to be materially different from
future results, performance or achievements expressed or implied by such
forward-looking statements. All statements other than statements of historical
fact are statements that could be forward-looking statements. You can identify
these forward-looking statements through our use of words such as "may,"
"will," "anticipate," "assume," "should," "indicate," "would," "believe,"
"contemplate," "expect," "estimate," "continue," "plan," "point to,"
"project," "could," "intend," "target" and other similar words and expressions
of the future.

All written or oral forward-looking statements attributable to us are
expressly qualified in their entirety by this cautionary notice, including,
without limitation, those risks and uncertainties described in our annual
report on Form 20-F for the year ended December 31, 2012 and otherwise in our
SEC reports and filings, including the final prospectus for our offering. Such
reports are available upon request from the Company, or from the Securities
and Exchange Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to update,
revise or correct any of the forward-looking statements after the date hereof,
or after the respective dates on which any such statements otherwise are made.

FINANCIAL TABLES FOLLOW



CHINA CERAMICS CO., LTD. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(RMB in thousands)
                                        As at              As at

                                        December 31, 2012  December 31, 2011
ASSETS AND LIABILITIES
Non-current assets
Property, plant and equipment           795,983            843,429
Land use rights                         30,598             31,267
Goodwill                                3,735              3,735
Deferred tax asset                      1,059              -
                                        831,375            878,431
Current assets
Inventories                             290,603            291,781
Trade receivables                       455,885            473,209
Prepayments and other receivables       4,092              26,377
Cash and bank balances                  89,448             42,149
                                        840,028            833,516
Current liabilities
Trade payables                          115,123            252,682
Accrued liabilities and other payables  51,169             44,349
Interest-bearing bank borrowings        10,000             125,000
Income tax payable                      869                35,090
                                        177,161            457,121
Non-current liabilities
Long term borrowings                    50,000             60,000
Deferred tax liabilities                1,052              1,087
                                        51,052             61,087
Net current assets                      662,867            376,395
Net assets                              1,443,190          1,193,739
EQUITY
Total shareholders' equity              1,443,190          1,193,739



CHINA CERAMICS CO., LTD. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(RMB in thousands, except EPS and share data)
                                            Three months ended                    Year ended
                                            December31 September30 December31  December31 December31
                                            2012        2012         2011         2012        2011
                                            (Unaudited) (Unaudited)  (Unaudited)
Revenue                                     245,330     386,282      404,452      1,444,891   1,491,574
Cost of Sales                               (216,004)   (276,238)    (265,102)    (1,063,892) (1,024,336)
Gross profit                                29,326      110,044      139,350      380,999     467,238
Sellinganddistributionexpenses (2,591)     (2,991)      (3,093)      (11,378)    (11,832)
Administrative expenses                     (6,632)     (6,611)      (12,199)     (29,974)    (46,079)
Finance costs                               (1,189)     (1,789)      (3,771)      (9,319)     (11,067)
Other income/(expenses)                     (293)       (789)        5,148        (1,565)     2,244
Profit before taxation                      18,621      97,864       125,435      328,763     400,504
Income tax expense                          (5,338)     (25,053)     (33,265)     (84,932)    (106,065)
Net Profit for the period                   13,283      72,811       92,170       243,831     294,439
Attributable to:

Shareholders of the Company
EPS-Basic                                   0.65        3.56         4.51         11.93       14.41
EPS-Diluted                                 0.65        3.56         4.51         11.93       14.41
Shares used in calculating basic EPS
Basic                                       20,430,838  20,430,838   20,430,838   20,430,838  20,430,838
Diluted                                     20,430,838  20,430,838   20,430,838   20,430,838  20,430,838



CHINA CERAMICS CO., LTD. AND ITS SUBSIDIARIES
SALES VOLUME AND AVERAGE SELLING PRICE
                                                     Three months ended                    Year ended
                                                     December31 September30 December31  December31 December31
                                                     2012        2012         2011         2012        2011
Salesvolume(squaremeters) 8,686,025   12,196,187   12,355,462   46,168,354  52,163,367
Average Selling Price (in RMB/square meter)          28.2        31.7         32.7         31.3        28.6
Average Selling Price (in USD/square meter)          4.6         5.1          5.2          5.0         4.4



CHINA CERAMICS CO., LTD. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(RMB in thousands)
                                                                        Three months ended                    Year ended
                                                                        December31 September30 December31  December31 December31
                                                                        2012        2012         2011         2012        2011
                                                                        (Unaudited) (Unaudited)  (Unaudited)
Cashflowsfromoperatingactivities
Profit before taxation                                                  18,621      97,864       125,435      328,763     400,504
Adjustments for
Amortization of land use rights                                         167         167          167          669         669
Depreciation of property, plant and equipment                           16,832      16,493       15,022       66,186      48,410
Loss on disposal of property, plant and equipment                       -           512          -            512         1,155
Provision for inventory                                                 (3,179)     1,576        -            4,237       -
Share-based compensation                                                1,286       1,294        5,376        5,651       17,295
Finance costs                                                           1,189       1,789        3,771        9,319       11,067
Interest income                                                         (72)        (89)         (63)         (380)       (494)
Operating profit before working capital Changes                         34,844      119,606      149,708      414,957     478,606
(Increase)/decrease in inventories                                      53,927      (8,781)      (35,304)     (3,059)     (114,564)
(Increase)/decrease in trade receivables                                22,563      37,511       2,904        17,324      (190,233)
(Increase)/decrease in otherreceivables and prepayments                (2,783)     6,628        (10,943)     22,285      (17,470)
Increase/(decrease) in trade payables                                   (119,162)   (22,957)     (6,957)      (137,559)   74,301
Increase/(decrease) in accrued liabilities and other payables           3,934       (1,104)      (2,041)      6,870       (1,760)
Cash generated from operations                                          (6,677)     130,903      97,367       320,818     228,880
Interest paid                                                           (1,142)     (1,861)      (3,771)      (9,370)     (11,067)
Income tax paid                                                         (25,399)    (30,507)     (26,258)     (120,247)   (93,586)
Net cash generated from/(used in) operating activities                  (33,218)    98,535       67,338       191,201     124,227
Cash flows from investing activities
Proceed from disposal of property, plant and equipment                  -           269          -            269         7,772
Acquisition of property, plant and Equipment                            -           (19,520)     (63,760)     (19,520)    (441,605)
Interest received                                                       72          89           63           380         494
Net cash generated from/(used in) investing activities                  72          (19,162)     (63,697)     (18,871)    (433,339)
Cash flows from financing activities
Bank borrowings obtained                                                -           -            33,000       -           173,000
Repayment of short-term loans                                           -           (35,000)     (43,000)     (125,000)   (85,000)
Net cash generated from/(used in) financing activities                  -           (35,000)     (10,000)     (125,000)   88,000
Net increase/(decrease) in cash and cash equivalents                    (33,146)    44,373       (6,359)      47,330      (221,112)
Cash and cash equivalents, beginning of period                          122,615     78,274       48,545       42,149      263,495
Effect of foreign exchange rate Differences                             (21)        (32)         (37)         (31)        (234)
Cash and cash equivalents, end of period                                89,448      122,615      42,149       89,448      42,149



CHINA CERAMICS CO., LTD. AND ITS SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMEMTS OF FINANCIAL POSITION
(U.S Dollar in thousands)
                                       As at              As at

                                       December 31, 2012  December 31, 2011
ASSETS AND LIABILITIES
Non-current assets
Property, plant and equipment          127,764            134,007
Land use rights                        4,911              4,968
Goodwill                               600                593
Deferred tax asset                     170                -
                                       133,445            139,568
Current assets
Inventories                            46,645             46,359
Trade receivables                      73,175             75,185
Prepayments and other receivables      657                4,191
Cash and bank balances                 14,357             6,697
                                       134,834            132,432
Current liabilities
Trade payables                         18,479             40,147
Accrued liabilities and other payables 8,213              7,047
Interest-bearing bank borrowings       1,605              19,860
Income tax payable                     140                5,575
                                       28,437             72,629
Non-current liabilities
Long term borrowings                   8,026              9,533
Deferred tax liabilities               169                173
                                       8,195              9,706
Net current assets                     106,397            59,803
Net assets                             231,647            189,665
EQUITY
Total shareholders' equity             231,647            189,665



CHINA CERAMICS CO., LTD. AND ITS SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(U.S Dollar in thousands, except EPS and share data)
                                             Three months ended                          Year ended
                                             December31 September30 December31  December31 December31
                                             2012        2012         2011         2012        2011
Revenue                                      40,011      62,116       63,828       230,740     231,361
Cost of Sales                                (35,084)    (44,412)     (41,884)     (169,897)   (158,887)
Gross profit                                 4,927       17,704       21,944       60,843      72,474
Sellinganddistributionexpenses (420)       (480)        (488)        (1,817)     (1,835)
Administrative expenses                      (1,076)     (1,065)      (1,926)      (4,787)     (7,147)
Finance costs                                (195)       (290)        (593)        (1,488)     (1,717)
Other expenses/income                        (48)        (126)        796          (250)       348
Profit before taxation                       3,188       15,743       19,733       52,501      62,123
Income tax expense                           (908)       (4,030)      (5,233)      (13,563)    (16,452)
Net Profit for the period                    2,280       11,713       14,500       38,938      45,671
Attributable to:

Shareholders of the Company
EPS-Basic                                    0.11        0.57         0.71         1.91        2.24
EPS-Diluted                                  0.11        0.57         0.71         1.91        2.24
Shares used in calculating basic EPS
Basic                                        20,430,838  20,430,838   20,430,838   20,430,838  20,430,838
Diluted                                      20,430,838  20,430,838   20,430,838   20,430,838  20,430,838



CHINA CERAMICS CO., LTD. AND ITS SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(U.S Dollar in thousands)
                                                                         Three months ended                    Year ended
                                                                         December31 September30 December31  December31 December31
                                                                         2012        2012         2011         2012        2011
Cashflowsfromoperatingactivities
Profit before taxation                                                   3,188       15,743       19,733       52,501      62,123
Adjustments for                                                          -
Amortization of land use rights                                          27          27           27           107         104
Depreciation of property, plant and equipment                            2,722       2,650        2,364        10,569      7,509
Loss on disposal of property, plant and equipment                        -           81           -            81          178
Provision for inventory                                                  (502)       255          -            677         -
Share-based compensation                                                 208         208          846          902         2,683
Finance costs                                                            195         290          593          1,488       1,717
Interest income                                                          (12)        (14)         (11)         (61)        (77)
Operating profit before working capital Changes                          5,826       19,240       23,552       66,264      74,237
(Increase)/decrease in inventories                                       8,572       (1,438)      (5,555)      (489)       (17,770)
(Increase)/decrease in trade receivables                                 3,600       5,928        257          2,767       (29,507)
(Increase)/decrease in other receivables and prepayments                 (427)       1,070        (1,704)      3,559       (2,710)
Increase/(decrease) in trade payables                                    (19,042)    (3,646)      (997)        (21,967)    11,525
Increase/(decrease) in accrued liabilities and other payables            630         (172)        (316)        1,097       (273)
Cash generated from operations                                           (841)       20,982       15,237       51,231      35,502
Interest paid                                                            (188)       (302)        (593)        (1,496)     (1,717)
Income tax paid                                                          (4,122)     (4,906)      (4,140)      (19,203)    (14,516)
Net cash generated from/(used in) operating activities                   (5,151)     15,774       10,504       30,532      19,269
Cash flows from investing activities
Proceed from disposal of property, plant and equipment                   -           43           -            43          1,198
Acquisition of property, plant and Equipment                             -           (3,104)      (10,269)     (3,104)     (68,498)
Interest received                                                        12          14           11           61          77
Net cash generated from/(used in) investing activities                   12          (3,047)      (10,258)     (3,000)     (67,223)
Cash flows from financing activities
Bank borrowings obtained                                                 -           -            5,259        -           26,834
Repayment of short-term loans                                            -           (5,642)      (6,713)      (19,875)    (13,185)
Net cash generated from/(used in) financing activities                   -           (5,642)      (1,454)      (19,875)    13,649
Net increase/(decrease) in cash and cash equivalents                     (5,139)     7,085        (1,208)      7,657       (34,305)
Cash and cash equivalents, beginning of period                           19,510      12,321       7,611        6,697       39,923
Effect of foreign exchange rate Differences                              (14)        104          294          3           1,079
Cash and cash equivalents, end of period                                 14,357      19,510       6,697        14,357      6,697

Source: China Ceramics Co., Ltd.

About Non-GAAP Financial Measures

In addition to China Ceramics' condensed consolidation financial results under
International Financial Reporting Standards ("IFRS"), the Company also
provides Non-IFRS financial measures (referred to as Non-GAAP financial
measures) for the fourth quarter of 2012, including Non-GAAP profit before
taxation, Non-GAAP net income and Non-GAAP earnings per fully diluted shares,
all of which exclude the share-based compensation expenses from their
comparable IFRS measure. The Company believes that these Non-GAAP financial
measures provide investors with another method for assessing China Ceramics'
operating results in a manner that is focused on the performance of its
ongoing operations and excludes share-based compensation expenses incurred for
the stock option program. Readers are cautioned not to view Non-GAAP results
on a stand-alone basis or as a substitute for results under GAAP, or as being
comparable to results reported or forecasted by other companies, and should
refer to the reconciliation of GAAP results with Non-GAAP results below. The
Company believes that both management and investors benefit from referring to
these Non-GAAP financial measures in assessing the performance of China
Ceramics and when planning and forecasting future periods. The accompanying
tables have more details on the GAAP financial measures that are most directly
comparable to Non-GAAP financial measures and the related reconciliation
between these financial measures.



CHINA CERAMICS CO., LTD.
Unaudited Reconciliation of GAAP to Non-GAAP
Three months ended December 31, 2012
                       GAAP    (1)     Non-GAAP  GAAP    (1)     Non-GAAP
                       RMB'000 RMB'000 RMB'000   USD'000 USD'000 USD'000
Profit before taxation 18,621  1,286   19,907    3,188   208     3,396
Net profit             13,283  1,286   14,569    2,280   208     2,488
EPS-Basic              0.65            0.71      0.11            0.12
EPS-Diluted            0.65            0.71      0.11            0.12



CHINA CERAMICS CO., LTD.
Unaudited Reconciliation of GAAP to Non-GAAP
Three months ended September 30, 2012
                       GAAP    (1)     Non-GAAP  GAAP    (1)     Non-GAAP
                       RMB'000 RMB'000 RMB'000   USD'000 USD'000 USD'000
Profit before taxation 97,864  1,294   99,158    15,743  208     15,951
Net profit             72,811  1,294   74,105    11,713  208     11,921
EPS-Basic              3.56            3.63      0.57            0.58
EPS-Diluted            3.56            3.63      0.57            0.58



CHINA CERAMICS CO., LTD.
Unaudited Reconciliation of GAAP to Non-GAAP
Three months ended December 31, 2011
                       GAAP    (1)     Non-GAAP  GAAP    (1)     Non-GAAP
                       RMB'000 RMB'000 RMB'000   USD'000 USD'000 USD'000
Profit before taxation 125,435 5,376   130,811   19,733  846     20,579
Net profit             92,170  5,376   97,546    14,500  846     15,346
EPS-Basic              4.51            4.77      0.71            0.75
EPS-Diluted            4.51            4.77      0.71            0.75



CHINA CERAMICS CO., LTD.
Unaudited Reconciliation of GAAP to Non-GAAP
Year ended December 31, 2012
                       GAAP    (1)     Non-GAAP  GAAP    (1)     Non-GAAP
                       RMB'000 RMB'000 RMB'000   USD'000 USD'000 USD'000
Profit before taxation 328,763 5,651   334,414   52,501  902     53,403
Net profit             243,831 5,651   249,482   38,938  902     39,840
EPS-Basic              11.93           12.21     1.91            1.95
EPS-Diluted            11.93           12.21     1.91            1.95



CHINA CERAMICS CO., LTD.
Unaudited Reconciliation of GAAP to Non-GAAP
Year ended December 31, 2011
                       GAAP    (1)     Non-GAAP  GAAP    (1)     Non-GAAP
                       RMB'000 RMB'000 RMB'000   USD'000 USD'000 USD'000
Profit before taxation 400,504 17,295  417,799   62,123  2,683   64,806
Net profit             294,439 17,295  311,734   45,671  2,683   48,354
EPS-Basic              14.41           15.26     2.24            2.37
EPS-Diluted            14.41           15.26     2.24            2.37
(1) Share-based compensation.

Source: China Ceramics Co., Ltd.

Contact Information:
China Ceramics Co., Ltd.            CCG Investor Relations Inc.
Edmund Hen, Chief Financial Officer David Rudnick, Account Manager
Email: info@cceramics.com           Email: david.rudnick@ccgir.com
                                    Phone: +1-646-626-4172



SOURCE China Ceramics Co., Ltd.

Website: http://www.cceramics.com