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Wuling Motors Holdings Ltd Comments On FY 2012 Earnings Guidance


Friday, 15 Mar 2013 06:42am EDT 

Wuling Motors Holdings Ltd announced that for fiscal 2012, it expects a substantial reduction in the net profit of the group and the profit attributable to the equity holders of the Company to be reported as compared to the audited results reported for the fiscal 2011. Based on information currently available, the substantial reduction in the net profit and the profit attributable to the equity holders of the Company was primarily due to the gain derived from the changes in the fair value of the derivative financial instrument embedded with the outstanding Convertible Notes was substantially lower than that recorded in last year; and the share option expenses amounting to approximately RMB17,000,000 would be recognized for the granting of share options to the directors and certain employees of the Group during the year. The Board also considers that the substantial reduction in gain and the share option expenses incurred as above mentioned are both non-cash items. 

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