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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Ocean Industry Group Limited    651   BMG2113Q1217

CHINA OCEAN INDUSTRY GROUP LIMITED

(651)
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China Ocean Shipbuilding Industry Group : PROFIT WARNING (in PDF)

08/13/2013 | 12:12am EDT

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 OCEAN SHIPBUILDING INDUSTRY GROUP LIMITED

(Incorporated in the Bermuda with limited liability)

(Stock code: 00651) PROFIT WARNING

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).
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

China Ocean Shipbuilding Industry Group Limited CHAU On Ta Yuen

Chairman

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.

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© Publicnow 2013
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Financials
Sales 2019 -19,7 M -2,54 M -2,54 M
Net income 2019 -1 088 M -140 M -140 M
Net Debt 2019 3 307 M 426 M 426 M
P/E ratio 2019 -0,04x
Yield 2019 -
Capitalization 51,1 M 6,58 M 6,58 M
EV / Sales 2018 -8,52x
EV / Sales 2019 -170x
Nbr of Employees 335
Free-Float 72,4%
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Managers and Directors
NameTitle
Shi Hong Zhang Chief Executive Officer & Executive Director
Ming Li Chairman
Bai He Hu Independent Non-Executive Director
Si Ying Xiang Independent Non-Executive Director
Ying Xiang Independent Non-Executive Director