Key Developments: Texhong Textile Group Ltd (2678.HK)

2678.HK on Hong Kong Stock

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Latest Key Developments (Source: Significant Developments)

Texhong Textile Group Ltd gives FY 2014 earnings guidance
Tuesday, 14 Oct 2014 05:00am EDT 

Texhong Textile Group Ltd:Says that for FY 2014 it expects to record a substantial decline in the earnings as compared with that for FY 2013.Says the decline in the earnings of the Group would mainly be attributable to the weak yarn selling prices of the Group in the PRC market for the nine months ended Sept. 30, 2014 as compared with Last Year.Says exchange loss for the nine months ended Sept. 30, 2014 as a result of the depreciation of Renminbi against the U.S. dollar as compared to an exchange gain of about 80 million yuan for the Last Year.Says the one-off gain of about 265 million yuan as a result of the acquisition of interest in a company during Last Year, which such gain is not available for the Year.  Full Article

Texhong Textile Group Ltd proposes interim dividend
Monday, 11 Aug 2014 12:06am EDT 

Texhong Textile Group Ltd:Proposes interim dividend of HK$0.05 per share.Payable on or about Sept. 10 to shareholders whose names are on register on Aug. 29.  Full Article

Texhong Textile Group Ltd gives H1 2014 earnings guidance
Tuesday, 10 Jun 2014 12:12am EDT 

Texhong Textile Group Ltd:Expects that earnings of the company for H1 2014 will result in a substantial decline as compared to corresponding period last year.  Full Article

Texhong Textile Group Ltd Updates on FY 2013 earnings guidance
Friday, 10 Jan 2014 05:35am EST 

Texhong Textile Group Ltd:Refers to the announcement dated Nov. 8, 2013.Says in addition to the factors as set out in the previous announcement, the profit of the group for FY 2013 may be further increased.As a result of an one-off gain of about 260 million Yuan on bargain purchase as a result of the acquisition of the entire equity interest of Shandong Morigin Textile Factory Co Ltd as announced by the company on June 20, 2013 which was completed in the second half of 2013.FY 2013 net income of 920.75 mln Yuan - Thomson Reuters I/B/E/S Estimates.  Full Article

Texhong Textile Group Ltd Issues FY 2013 Profit Guidance
Friday, 8 Nov 2013 05:08am EST 

Texhong Textile Group Ltd announced that, based on a review of the Company's unaudited management accounts for the ten months ended October 31, 2013, the earnings of the Company for the ten months ended October 31, 2013 has a substantial increase as compared to that of fiscal 2012, as such, it is expected that the Company will result in a substantial increase in profit for fiscal 2013 as compared to the financial results of the Company for the corresponding period in 2012. The Group has continued to benefit from the consumption of low cost international cotton although such advantage is partly offset by the weak yarn selling prices in the PRC. The Company reported net income of CNY486.54 million in fiscal 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report net income of CNY1.003 billion for fiscal 2013.  Full Article

Texhong Textile Group Ltd Declares Interim Dividend
Monday, 5 Aug 2013 12:20am EDT 

Texhong Textile Group Ltd announced that the Board of Directors of the Company has proposed an interim dividend of HKD0.19 per share (2012: NIL) on August 5, 2013. It will be payable on or about August 28, 2013 to shareholders who are on the register on August 21, 2013.  Full Article

Texhong Textile Group Ltd Comments On H1 2013 Profit Guidance
Wednesday, 5 Jun 2013 03:36pm EDT 

Texhong Textile Group Ltd announced that for the first half of 2013, it expects increase in profit as compared to the corresponding period in fiscal 2012. The financial performance of the Company has remained strong since the second half of 2012 after its successful turnaround in the first half of 2012. This was mainly attributable to the continuous strong demand of the yarn products of the Group in the PRC and reduction in production costs of the Group due to low international cotton price, although such competitive advantage has been partly offset by the weak yarn selling prices in the PRC. The yarn selling prices of the Group have been put under pressure due to the subsisting substantial difference between international and Chinese cotton market prices since the second quarter of 2012.  Full Article

Texhong Textile Group Ltd Announces Proposes Issue of USD Senior Noted
Thursday, 4 Apr 2013 07:51pm EDT 

Texhong Textile Group Ltd announced that it proposes to conduct an international offering of the Notes and will commence a series of roadshow presentations beginning on April 05, 2013 to institutional investors. The Proposed Notes Issue will only be offered outside the United States in compliance with Regulation S under the Securities Act. The Notes, if issued, will be repayable at maturity, unless earlier redeemed or repurchased pursuant to their terms. As at the date of this announcement, the amount, terms and conditions of the Proposed Notes Issue have yet to be determined. Upon finalization of the terms of the Proposed Notes Issue, the Joint Bookrunners, the Company, and certain subsidiary guarantors set forth therein will enter into the Purchase Agreement, pursuant to which the Joint Bookrunners will be the initial purchasers of the Notes. The Company currently intends to use approximately 50% of the net proceeds of the Notes for capital expenditures, and the remaining for working capital and general corporate purposes.  Full Article

Texhong Textile Group Ltd Resolves To Declare Final Dividend
Wednesday, 27 Feb 2013 11:05pm EST 

Texhong Textile Group Ltd announced that the Board has resolved to declare a final dividend of 27 HK cents per share in respect of the year ended 31 December 2012 to shareholders whose names appear on the register of members on 25 April 2013 and will be payable on or about 30 April 2013, subject to the approval by the shareholders at the forthcoming Annual General Meeting on 18 April 2013. No dividend was paid by the Company in 2012.  Full Article

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