Luoyang Glass 2001 net at CNY 10 million

Chinese Luoyang Glass Co., which lists A shares on the Shanghai Stock Exchange and H shares on Hong Kong“s stock exchange, cites over-expansion and fierce competition in the glass industry for the sh…

Chinese Luoyang Glass Co., which lists A shares on the Shanghai Stock Exchange and H shares on Hong Kong“s stock exchange, cites over-expansion and fierce competition in the glass industry for the sharp decline in its net profit. Profit based on local and international accounting standards remained the same. The company is aiming for CNY 900 million in sales for 2002.