Shenzhen SEG Samsung Glass Co. Ltd. said it booked a net profit of CNY 3.40 million over the 1H 2006 to June, down 96.98% from CNY 112.46 million a year earlier.
In a statement filed with the Shenzhe…
Shenzhen SEG Samsung Glass Co. Ltd. said it booked a net profit of CNY 3.40 million over the 1H 2006 to June, down 96.98% from CNY 112.46 million a year earlier. In a statement filed with the Shenzhen Stock Exchange, the company said its core business income was also down 15.45% to CNY 926.64 million from CNY 1.10 billion a year earlier. The company blamed its performance on lower prices for its staple product of CRT monitors and rising raw material and energy prices, which combined to depress earnings and margins. The company added that it expects its net profit for the nine months to September 2006 to be down by 50-100% from a year earlier, largely as a result of lower product prices and higher costs. For the first nine months of 2005, the company posted a net profit of CNY 50.25 million. During the 1H 2006, Shenzhen SEG“s net asset value per share was CNY 2.47 against CNY 2.46 a year earlier, while its earnings per share fell to CNY 0.004 from CNY 0.143.