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Xinhua Holdings Ltd to Sell Beijing Alpha; Expects Extraordinary Loss for Q3 of FY 2013; to Withdraw Application Solution and Research Business; Amends Consolidated Full-year Guidance for FY 2013


Monday, 26 Aug 2013 05:30am EDT 

Xinhua Holdings Ltd announced that it will sell all stake in a wholly owned sub-subsidiary, Beijing Alpha, to Mr. Tang Xiangyang, for USD 500,000. The Company expects USD 700,000 extraordinary loss on this transaction for the third quarter of the fiscal year 2013. As a result, the Company will withdraw its application solution and research business. The Company has lowered the consolidated full-year guidance for revenue from USD 5,014,000 to USD 4,380,000, net profit (loss) from USD (7,864,000) to USD (8,258,000), earning (loss) per share from USD 5.19 to USD 5.45, but raised the guidance for operating profit (loss) from USD (7,911,000) to USD (7,561,000) and ordinary profit (loss) from USD (7,792,000) to USD (7,442,000) for the fiscal year ending December 31, 2013. 

Company Quote

617.0
4.0 +0.65%
22 Sep 2014