December 2011 Quarterly Report (Appendix 4C)

Appendix 4C Quarterly report for entities admitted on the basis of commitments Appendix 4C Quarterly report for entities admitted on the basis of commitments

Introduced 31/3/2000. Amended 30/9/2001, 24/10/2005.

Name of entity

Novarise Renewable Resources International Ltd

Rule 4.7B

ABN Quarter ended ("current quarter")

48138537596 31-12-2011

Consolidated statement of cash flows

Cash flows related to operating activities	Current quarter $A'000		January to December $A'000
1.1	Receipts from customers	31,423	88,149
1.2	Payments for (a) staff costs (b)advertising and marketing (c) research and development (d) leased assets (e) other working capital	-541 -59 -18 -- -25,099	-2,953 -325 -97 -- -69,653
1.3	Dividends received		--		--
1.4	Interest and other items of a similar nature received	1,285	1,701
1.5	Interest and other costs of finance paid	-1,687	-2,140
1.6	Income taxes paid	-201	-2,345
1.7	Other (provide details if material)		--		--
	Net operating cash flows	5,103	12,337

+ See chapter 19 for defined terms.

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Appendix 4C Quarterly report for entities admitted on the basis of commitments

	Current quarter $A'000	January to December $A'000
1.8 Net operating cash flows (carried forward)	5,103	12,337
Cash flows related to investing activities 1.9 Payment for acquisition of: (a) businesses (item 5) (b) equity investments (c) Payments for purchase of property, plant and equipment (d) Increase in long-term deposits (e) (Increase)/Decrease in term deposits with maturity over 3 months 1.10 Proceeds from disposal of: (a) businesses (item 5) (b) equity investments (c) Payments for land use rights (d) Payment for capitalised interest (e) Loans to 3rd party 1.11 Loans to other entities 1.12 Loans repaid by other entities 1.13 Other (provide details if material) Net investing cash flows 1.14 Total operating and investing cash flows	5,368 -253 -12,089 31,965	-31,209 0 -14,212 -1,996 -733 -9,210
Cash flows related to investing activities 1.9 Payment for acquisition of: (a) businesses (item 5) (b) equity investments (c) Payments for purchase of property, plant and equipment (d) Increase in long-term deposits (e) (Increase)/Decrease in term deposits with maturity over 3 months 1.10 Proceeds from disposal of: (a) businesses (item 5) (b) equity investments (c) Payments for land use rights (d) Payment for capitalised interest (e) Loans to 3rd party 1.11 Loans to other entities 1.12 Loans repaid by other entities 1.13 Other (provide details if material) Net investing cash flows 1.14 Total operating and investing cash flows	24,991	-57,360
Cash flows related to investing activities 1.9 Payment for acquisition of: (a) businesses (item 5) (b) equity investments (c) Payments for purchase of property, plant and equipment (d) Increase in long-term deposits (e) (Increase)/Decrease in term deposits with maturity over 3 months 1.10 Proceeds from disposal of: (a) businesses (item 5) (b) equity investments (c) Payments for land use rights (d) Payment for capitalised interest (e) Loans to 3rd party 1.11 Loans to other entities 1.12 Loans repaid by other entities 1.13 Other (provide details if material) Net investing cash flows 1.14 Total operating and investing cash flows	30,094	-45,023
Cash flows related to financing activities 1.15 Proceeds from issues of shares, options, etc. 1.16 Proceeds from sale of forfeited shares 1.17 Proceeds from borrowings 1.18 Repayment of borrowings 1.19 Dividends paid 1.20 Other (provide details if material) Net financing cash flows	-11,647 -29,601	124,230 -83,409
Cash flows related to financing activities 1.15 Proceeds from issues of shares, options, etc. 1.16 Proceeds from sale of forfeited shares 1.17 Proceeds from borrowings 1.18 Repayment of borrowings 1.19 Dividends paid 1.20 Other (provide details if material) Net financing cash flows	-41,248	40,821
Net increase (decrease) in cash held 1.21 Cash at beginning of quarter/year to date 1.22 Exchange rate adjustments to item 1.20 1.23 Cash at end of quarter	-11,154 13,121 472	-4,202 6,532 109
Net increase (decrease) in cash held 1.21 Cash at beginning of quarter/year to date 1.22 Exchange rate adjustments to item 1.20 1.23 Cash at end of quarter	2,439	2,439

+ See chapter 19 for defined terms.

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Appendix 4C Quarterly report for entities admitted on the basis of commitments Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.24 Aggregate amount of payments to the parties included in item 1.2

Current quarter

$A'000

51

1.25 Aggregate amount of loans to the parties included in item 1.11

1.26 Explanation necessary for an understanding of the transactions

Payments to related entities of the entity consist of payments to directors, directors salaries and remuneration paid to non-executive directors

Su Qing Yue 8 So Chung Yi 2 Zhang Zhen Wen 7

Xie Wen Po 4 Zhuang Xiao Bin 6 Tu Lian Dong 2

John O'Brien 11 Faipeng.Chen 11

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

(N/A)

2.2 Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest

(N/A)

Financing facilities available

Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).

3.1 Loan facilities

3.2 Credit standby arrangements

+ See chapter 19 for defined terms.

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Appendix 4C Quarterly report for entities admitted on the basis of commitments Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.	Current quarter $A'000	Previous quarter $A'000
4.1	Cash on hand and at bank	2,439	13,121
4.2	Deposits at call
4.3	Bank overdraft
4.4	Other (provide details)
	Total: cash at end of quarter (item 1.23)	2,439	13,121

Acquisitions and disposals of business entities

5.1 Name of entity

5.2 Place of incorporation or registration

5.3 Consideration for acquisition or disposal

5.4 Total net assets

5.5 Nature of business

Compliance statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.
2 This statement does /does not*(delete one) give a true and fair view of the matters disclosed.
Sign here: ............................................................ Date: ............................ (Director)
Print name: ............Mr..Qingyue Su...................

+ See chapter 19 for defined terms.

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Appendix 4C Quarterly report for entities admitted on the basis of commitments Notes

1. The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
2. The definitions in, and provisions of, AASB 1026: Statement of Cash Flows apply to this report except for the paragraphs of the Standard set out below.
* 6.2 - reconciliation of cash flows arising from operating activities to operating profit or loss
* 9.2 - itemised disclosure relating to acquisitions
* 9.4 - itemised disclosure relating to disposals
* 12.1(a)- policy for classification of cash items
* 12.3 - disclosure of restrictions on use of cash
* 13.1 - comparative information

3. Accounting Standards. ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

+ See chapter 19 for defined terms.

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