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China Ground Source Energy Ltd Comments On Q1 2013 Net Profit Guidance


Friday, 26 Apr 2013 10:51am EDT 

China Ground Source Energy Ltd announced that it is expected to record a significant decrease in net profit of the unaudited first quarterly results of the Company for the first quarter of 2013 (the First Quarterly Results) as compared with the net profit for the corresponding period last year. Such decrease in net profit was mainly attributable to (i) a significant decrease in turnover and gross profit margin; (ii) an increase in share-based payment which is a non-cash expenses item; (iii) a notable decrease in other income; and (iv) a significant increase in selling and distribution expenses due to the increased initial investment in market development. 

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