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Pan Asia Environmental Protection Group Ltd Comments On H1 2013 Earnings Guidance


Tuesday, 13 Aug 2013 07:30am EDT 

Pan Asia Environmental Protection Group Ltd announced that it might record a higher unaudited consolidated net loss for the first half of 2013 as compared to the unaudited consolidated net loss for the first half of 2012. The Board considers that the consolidated net loss for the first half of 2013 was mainly due to the reasons as follows: (i) there was a decrease in the gross profit margin of the Company for first half of 2013 due to keen competition in the industry and increase in cost; and (ii) although the new wood wool cement board business continues to generate revenue for the Company for the first half of 2013, the amount of such revenue was still small as compared to the increasing expenses incurred on development of such business for such period; however, the Board believes that continuing development of such new business would eventually be rewarding and beneficial to the Company as the revenue is expected to be growing in future. 

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