Shenzhen SEG Samsung Glass Co Ltd said it expects to post a net loss of about CNY 60 million for the 3Q 2005 due to strong competition.
Competition has caused a slump in the price of glass bulbs and …
Shenzhen SEG Samsung Glass Co Ltd said it expects to post a net loss of about CNY 60 million for the 3Q 2005 due to strong competition. Competition has caused a slump in the price of glass bulbs and a rise in inventory, Shenzhen SEG Sumsung said in a statement to the Shenzhen Stock Exchange. The company had earlier forecast a flat net profit for the January-September 2005 period. Shenzhen SEG Samsung“s main products include glass bulbs for cathode ray tubes, glass used in flat panel displays and related materials. The company posted a profit of CNY 173.77 million, or CNY 0.09 per share, in the 3Q of 2004.