Uni Core Holdings Corporation announced that on December 15, 2012 it recorded a material charge for impairment related to its Shenzhen APT paper factory. On December 15, 2012 the Shenzhen APT paper factory was placed in involuntary bankruptcy and closed. The company recording non-cash charge for $4.5 million for the impairment of goodwill and tangible and intangible assets in the second quarter of its 2013 fiscal year.

This impairment charge relates to the Shenzhen facility bankruptcy. The company does not expect the impairment charge to result in any future cash expenditures other than fess for bankruptcy counsel estimated to not exceed $80,000.