Shanghai Wanye Enterprises to Swing to Loss in H1

MT Newswires Live07-04

Shanghai Wanye Enterprises (SHA:600641) expects to record a loss attributable to owners of 49 million yuan in the first half of the year, swinging from the year-ago profit of 118.6 million yuan, according to the company disclosure on the Shanghai Stock Exchange.

The Chinese integrated circuit core equipment producer and real estate developer attributed the forecasted loss to a decrease in operating income, especially in the real estate sector. The company's income in the special equipment manufacturing business was affected by the industry verification cycle, the Wednesday disclosure noted.

Shares of the company dropped less than 3% at the close.

Price (RMB): Â¥10.65, Change: Â¥-0.31, Percent Change: -2.83%

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