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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Glass Holdings Limited    3300   BMG2111H1236

CHINA GLASS HOLDINGS LIMITED

(3300)
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China Glass : VOLUNTARY ANNOUNCEMENT - BUSINESS UPDATE - COMMENCEMENT OF PRODUCTION AT THE NIGERIA PRODUCTION LINE

12/16/2019 | 03:36am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CHINA GLASS HOLDINGS LIMITED

中 國 玻 璃 控 股 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 3300)

VOLUNTARY ANNOUNCEMENT

BUSINESS UPDATE -

COMMENCEMENT OF PRODUCTION AT THE

NIGERIA PRODUCTION LINE

This is an announcement made by China Glass Holdings Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis with the purpose of keeping the shareholders and potential investors of the Company informed of the latest business development of the Group.

The board of directors of the Company (the "Board") is pleased to announce that the construction of the Group's new glass production line located in Nigeria (the "Nigeria Production Line") has completed and rolled off its first product on 9 December 2019.

The Nigeria Production Line is located in the Ogun Guangdong Free Trade Zone at Nigeria and is designed to have a daily production of 500 tonnes of float glass. The Nigeria Production Line will allow the Group to meet the glass products demand in Nigeria and neighboring countries and benefit the local economy such as the creation of job opportunities and the mobilization of upstream and downstream industries.

1

The commencement of production at the Nigeria Production Line represents the Group's solid progress in its adherence to China's "Belt and Road" Initiative and "China-Nigeria Production Capacity Cooperation", and will be a landmark in the Group's continuous plan of overseas expansion.

Shareholders and potential investors of the Company are reminded that the above- mentioned are the Group's current plan and there may be deviation in the future. They should exercise caution when dealing in the securities of the Company.

By Order of the Board

China Glass Holdings Limited

Cui Xiangdong

Chief Executive Officer

Hong Kong, 16 December 2019

As at the date of this announcement, the directors of the Company are as follows:

Executive Director:

Mr. Cui Xiangdong (Chief Executive Officer)

Non-executive Directors:

Mr. Peng Shou (Chairman) ; Mr. Zhao John Huan; Mr. Zhou Cheng (Honorary Chairman) ; and Mr. Zhang Jinshu

Independent Non-executive Directors:

Mr. Zhang Baiheng; Mr. Zhao Lihua; and Mr. Chen Huachen

  • For identification purpose only

2

Disclaimer

China Glass Holdings Limited published this content on 16 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 December 2019 08:35:06 UTC


© Publicnow 2019
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Financials
Sales 2019 2 369 M 360 M 360 M
Net income 2019 82,6 M 12,6 M 12,6 M
Net Debt 2019 2 738 M 416 M 416 M
P/E ratio 2019 8,52x
Yield 2019 4,31%
Capitalization 1 121 M 170 M 170 M
EV / Sales 2018 1,20x
EV / Sales 2019 1,44x
Nbr of Employees 3 497
Free-Float 51,7%
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Managers
NameTitle
Guo Lu Chief Executive Officer
Shou Peng Chairman
Li Ming Han Chief Finance Officer
Jian Xun Wang Chief Technology Officer
Cheng Zhou Non-Executive Director
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