China High Speed Transmission Equipment Expects Loss in H1; Stocks Slide by 3%

MT Newswires Live08-21

China High Speed Transmission Equipment Group (HKG:0658) expects a loss attributable to the owners of about 530 million yuan for the six months ended June 30, compared to a profit attributable to the owners of about 209.2 million yuan for the previous year, according to a Wednesday filing on the Hong Kong bourse.

The company attributed the expected loss to decreased profit from the gear transmission equipment business and increased impairment losses on receivables and gear transmission equipment for the current period compared to the corresponding period of the previous year.

The gear products manufacturer plans to publish their interim results on or around Aug. 28.

The company's shares were down by over 3% in the recent trading.

Price (HKD): $1.07, Change: $-0.030, Percent Change: -2.73%

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