The board of directors of Weiqiao Textile Co. Ltd. announced that it is expected that there would be a significant decrease in the profit of the group for the six months ending June 30, 2012 as compared to a profit for the six months ended June 30, 2011. The significant decrease in the profit for the six months ending June 30, 2012 was mainly due to: the overall decrease in the demand for textile products from the continued weak textile market both domestically and overseas in the first half of 2012; and the fact that domestic cotton price has been remained at low level since September 2011; meanwhile, the international cotton price has substantially decreased. Against this backdrop, it has been relatively more difficult to increase the price of cotton textiles, which in turn has resulted in a significant decrease in the group's profit.