CHINA HONGQIAO GROUP LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
中國宏橋集團有限公司
(Incorporated under the laws of Cayman Islands with limited liability)
(Stock Code: 1378)This announcement is made by the Company pursuant to Rule 13.09 of the Listing Rules and the provisions of inside information under Part XIVA of the Securities and Futures Ordinance (Cap 571 of the Laws of Hong Kong).
The Board wishes to inform the Shareholders of the Company and potential investors that, based on a preliminary assessment by the Company on the management account, the Group is expected to record a 25% to 35% decrease in the consolidated profit attributable to Shareholders of the Company for the year ended 31 December 2015 as compared to that for the corresponding period of 2014.
The information contained in this announcement is only based on the unaudited management account of the Group for the year ended 31 December 2015 which has not been audited by the auditors of the Company.
This announcement is made by China Hongqiao Group Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the provisions of inside information under Part XIVA of the Securities and Futures Ordinance (Cap 571 of the Laws of Hong Kong).
The board of directors (the "Board") of the Company wishes to inform the shareholders of the Company (the "Shareholders") and the potential investors that, based on the currently available information, the Group is expected to record a 25% to 35% decrease in the consolidated profit attributable to Shareholders of the Company for the year ended 31 December 2015 as compared to that for the corresponding period of 2014. With the gradual expansion of the Group's aluminum production capacity in 2015, the production and sales volume and the sales revenue of the Group's aluminium products increased as
compared to that for the corresponding period, and the unit production cost remained stable, however, due to the exchange losses of dollar-denominated debt provision of the Company resulting from the substantial devaluation of Renminbi and the significant decrease of the aluminum price in the fourth quarter of 2015, the consolidated profit attributable to Shareholders of the Company is expected to record a 25% to 35% decrease.
The information contained in this announcement is only based on the preliminary assessment on the unaudited management account of the Group for the year ended 31 December 2015 and the information currently available to the Group. The financial results for the year ended 31 December 2015, which will be reviewed by the auditors of the Company, will be disclosed when the annual results of the Group for the year ended 31 December 2015 are announced.
Shareholders of the Company and potential investors are advised to read the reviewed annual results announcement of the Group carefully when it is published.
By order of the Board
China Hongqiao Group Limited Zhang ShipingChairman
Shandong, the People's Republic of China 15 January 2016
As at the date of this announcement, the Board comprises eight directors, namely Mr. Zhang Shiping, Ms. Zheng Shuliang and Mr. Zhang Bo as executive directors, Mr. Yang Congsen and Mr. Zhang Jinglei as non-executive directors, and Mr. Xing Jian, Mr. Chen Yinghai and Mr. Han Benwen as independent non-executive directors.
China Hongqiao Group Ltd. issued this content on 2016-01-15 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-15 23:43:06 UTC
Original Document: http://www.hongqiaochina.com/UpLoad/en/20160116072947_E16010170-China Hongqiao PA.pdf
