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Leader Environmental Technologies Ltd Comments On Q2 2013 Earnings Guidance

Friday, 2 Aug 2013 05:52am EDT 

Leader Environmental Technologies Ltd announced that it expects to report a loss for the second quarter of 2013, mainly due to no revenue was derived from desulphurization contracts in this quarter as the Company continue to be selective and only undertake those projects which offer better payment terms and/or gross profit margin; a non-cash charge of RMB2.1 million, being the fair value of the 4.6 million shares issued to six employees pursuant to the Company‚Äôs Performance Share Scheme; and impairment of trade receivables of RMB22.3 million relating to two customers who communicated to the Company that they are unable to repay their outstanding debts. 

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