U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[X] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[ ] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: December 31, 1998
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: ......................................
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Read Attached Instruction Sheet Before Preparing Form.
Please Print or Type
Nothing in this form shall be construed to imply that the
Commission has verified any information contained herein.
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If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
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Part I - Registrant Information
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Full Name of Registrant: China Resources Development, Inc.
Former name if Applicable:
Address of Principal Executive Office (Street and Number)
Room 2005, 20/F, Universal Trade Centre, 3-5A Arbuthnot Road, Central,
Hong Kong
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Part II - Rules 12b-25 (b) and (c)
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If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12B-25(b), the following should
be completed. (Check appropriate box)
[X] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition report on Form
10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof will be filed on or
before the fifteenth calendar day following the prescribed due date; or the
subject quarterly report or transition report on Form 10-Q, or portion thereof
will be filed on or before the fifth calendar day following the prescribed due
date; and
[ ] (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.
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Part III - Narrative
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State below in reasonable detail the reasons why Form 10-K and Form 10-KSB,
20-F, 11-K, 10-Q AND Form 10-QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period.
The Company is unable to file such report by March 31, 1999,
without unreasonable effort or expense due to modifications to
the information set forth in the report and the financial
statements to be filed therewith which are required prior to
filing. The report shall be completed and available for filing
no later than Thursday, April 15, 1999.
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Part IV - Other Information
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(1) Name and telephone number of person to contact in regard to this
notification:
Kenneth C. Wright (407) 649-4000
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under section 13 or 15(d)
of the Securities Exchange Act of 1934 or section 30 of the Investment Company
Act of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
[X] Yes [ ] No
If so: attach an explanation of the anticipated change, both
narratively and quantitatively, and if appropriate, state the reasons why a
reasonable estimate of the results cannot be made.
The earnings statements of the Company to be included in the
Form 10-K for the year ended December 31, 1998 are expected
to reflect a net loss of approximately US$6 million, as
compared to net income of US$2.2 million for the corresponding
period in 1997. The significant change in results of operation
was due to a decrease in the price of natural rubber caused
by an excess supply attributable to an influx of imported
natural rubber, and provision made against a long-term
investment as a result of the fall of the stock market in
China.
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CHINA RESOURCES DEVELOPMENT, INC.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
CHINA RESOURCES DEVELOPMENT, INC.
Date: March 31, 1999 By:/s/ Tam Cheuk Ho
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Tam Cheuk Ho
Chief Financial Officer
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