ST Ganhua estimates that Q1 net profit will drop by about 96%

ST Ganhua released the 2013 Q1 results forecast. The company expects net profit attributable to shareholders of listed companies to be 2,200-2.5 million yuan, down 96.7%-95.9% from 60,956,700 yuan in the same period of last year; basic earnings per share is 0.0062-0.0077 Yuan, while the company’s basic earnings per share was 0.19 yuan.

The company said that the reason for the decline in performance was that the company received the second phase of support fund of RMB 60 million from the State-owned Assets Supervision and Administration Commission of Jiangmen Municipal People's Government in the first quarter of 2012. There was no such income in the first quarter of this year, so this report period net Profits fell by a large margin over the same period of the previous year.

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