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Yue Da Mining Holdings Ltd Comments On FY 2012 Profit Guidance


Friday, 28 Dec 2012 09:00am EST 

Yue Da Mining Holdings Ltd announced that for fiscal 2012, the audited results may experience a substantial decline as compared to the profit for fiscal 2011. Based on the information currently available, the Board considers that such decline would be principally due to: a general decline in the price of zinc and lead in the commodity market in 2012; provisions to be made for certain mining rights due to the general decline in the price of zinc and lead in the commodity market; a substantial decrease in a fair value change in contingent consideration arising from the profit guarantee given by Bright Harvest Holdings Limited to the Group in relation to the performance of Tong Ling Guan Hua Mining Company Limited, which is a subsidiary of the Group, comparing with the fair value change in contingent consideration of RMB74,182,000 recognised for the year ended 31 December 2011; and provisions which may possibly be made for other intangible assets in connection with the operating loss of a toll road operating subsidiary of the Group. 

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21 Nov 2014