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Qingmei Group Holdings Ltd Comments On FY 2013 Earnings Guidance


Thursday, 15 Aug 2013 05:45am EDT 

Qingmei Group Holdings Ltd announced that for fiscal 2013, it expects to report losses compared to a profit after tax of RMB133.2 million achieved in fiscal 2012. This was mainly due to the drop in our sales revenue, which was mainly attributable to: the continued slowdown in domestic market demand for our products due to the intensified competition and consolidation downstream business; the cyclical issue of excessive channel inventory for the downstream business; the unfavourable business activities in the sport shoes industry in China which were further hampered by the economic slowdown in China as well as globally; and the impact of the tightening credit control in China 

Company Quote

0.016
-0.0010 -5.88%
25 Aug 2014