CSG Holding: drastic downgrade to FY profit forecast

CSG Holding Co Ltd, one of China“s largest glass producers, said it is downgrading its full year profit forecast to a “change” of 10%, citing weak product prices and orders in the 4Q.
The previous f…

CSG Holding Co Ltd, one of China“s largest glass producers, said it is downgrading its full year profit forecast to a “change” of 10%, citing weak product prices and orders in the 4Q. The previous forecast was for full year profit growth of 50-100%. In a statement filed with the Shenzhen Stock Exchange, CSG added that it will book a CNY 196 million (USD 28.66 million) charge for impaired fixed assets. In 2007, the company reported net profit of CNY 431.48 million and earnings per share of CNY 0.41.