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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile

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Qin Jia Yuan Media Services Co Ltd Comments On Earnings Guidance For Fifteen Months Ended December 31, 2012

Friday, 8 Feb 2013 06:04am EST 

Qin Jia Yuan Media Services Co Ltd announced that it is expected that the Company is likely to record a loss for the fifteen months ended December 31, 2012, as compared to the profit of HKD54,468,000 for the year ended September 30, 2011. The expected loss was mainly attributable to the (i) one-off financial impact from the early redemption of the interest bearing convertible bonds in the aggregate principal amount of HKD90,669,693 due 2015 issued by the Company to First Media Holdings, Ltd., comprising effective interest of approximately HKD50 million in accordance with Hong Kong Accounting Standard 32 and 39, which will not have any cashflow impact, and early redemption premium of approximately HKD10 million (as disclosed in the Company‚Äôs interim report for the nine months ended 30 June 2012); (ii) decrease in turnover of approximately HKD250 million; and (iii) potential impairment of certain aged trade and other receivables which is mainly related to advertising business that would not be further developed and of certain aged airtime payments paid to PRC television channels, the amount of the impairment is to be further ascertained. 

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19 Dec 2014