On 4 July 2008, the company made an announcement regarding adjustments made to its 1H 2008 Report, following which the previous net profit estimate, a 60% to 90% increase YOY, has been revised downward to no more than 15% YOY. The company stated that the downward revision was due to the fact that a number of its projects have been delayed and its sales were lower than expected, while operating costs have increased as a result of the rising raw materials costs.

The company’s net profit in the first half of 2007 was RMB 128 mln.


Source: Securities Times

Date: 4 Jul 2007

CN01/BG/MZ/BT/MM