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CHINA OCEAN SHIPBUILDING INDUSTRY GROUP LIMITED
(Incorporated in the Bermuda with limited liability)
(Stock code: 00651)
This announcement is made by China Ocean Shipbuilding Industry Group Limited (the "Company", together with its subsidiaries, the "Group") pursuant to rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
China Ocean Shipbuilding Industry Group Limited
CHAU On Ta Yuen
The Board wishes to inform the Shareholders and potential investors that based on the preliminary review of the unaudited management accounts of the Group, the Group is expected to record significant decrease in revenue and increase in loss for the six months ended 30 June 2013 as compared to those for the corresponding period of last year. The decrease in revenue and increase in loss were mainly due to the downturn of shipbuilding market, decrease in the market selling price of ships, appreciation of Renminbi and the absence of a one-off gain on settlement of deferred consideration in 2013.
The information contained in this announcement is based on the preliminary review of the management accounts of the Group and the information currently available to the Board. As at the date of this announcement, the Group's first half results for the six months ended 30 June
2013 have not been finalized. Shareholders and investors are advised to read carefully the interim results announcement of the Company for the six months ended 30 June 2013 which is expected to be published by the end of August 2013.
By order of the Board
Hong Kong, 12 August 2013
As at the date of this announcement, the Board of the Company comprises four executive directors, namely, Mr. Chau On Ta Yuen, Mr. Li Ming, Mr. Zhang Shi Hong and Mr. Wang San Long; and three independent non-executive directors, namely, Ms. Xiang Siying, Mr. Hu Bai He and Xiang Ying.