The board of directors Chaowei Power Holdings Limited provided earnings guidance for the year ended December 31, 2012. For the year, the company expects to record a moderate increase in the profit attributable to owners of the company, currently expected to be not more than RMB 510 million, as compared to the profit attributable to owners of the company of approximately RMB 455 million for the year ended December 31, 2011. The board considered that the expected moderate growth in profit attributable to owners of the company was mainly attributable to the persistent pressures on the selling prices in the lead acid motive batteries market in the PRC since the fourth quarter in 2012.