Time2u International Holding Limited Provides Earnings Guidance for the Six Months Ended 30 June 2016
August 19, 2016 at 09:27 am EDT
Time2u International Holding Limited provided earnings guidance for the six months ended 30 June 2016. For the six months, Group is expected to record a net loss as compared with a net profit for the corresponding period in 2015. The net loss is primarily driven by the decrease in turnover of approximately 40% due to (1) continual weakening of the market demand on the branded watches and OEM watches of the Group affected by overall economic slowdown in the People's Republic of China; (2) continual decrease in the average selling price of the branded watches and OEM watches of the Group; and (3) sales return from customers of branded watches.