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Tianjin Zhonghuan Semiconductor Co Ltd Announces Accounting Problems; Restates Net Profit Results


Monday, 18 Nov 2013 07:00pm EST 

Tianjin Zhonghuan Semiconductor Co Ltd announced that it has taken corrective actions according to problems identified by Tianjin Ombudsman Office of Ministry of Finance, including accounting of investment property, deferred income tax assets, interest expense, property tax and travel expense. As a result, the Company has lowered its net profit for parent company for fiscal year 2012 of RMB 4,555,010.84 and lowered its net profit for parent company for the first three quarters of FY 2013 of RMB 450,574.17. 

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