New ETF Book by Larry Connors - Click here to read more
Although it slashed jobs last year, Amoi Electronics still keeps research and development talents for 3G technology and products.
The company started 3G terminal technology tracking seven years ago and has accumulatively invested CNY 500 million into 3G R&D by now. The Chinese 3G market is believed to have promising prospect.
Amoi Electronics reaped sales revenues of CNY 1.6839 billion last year, dropping 51.2% from CNY 3.4505 billion in 2007. The decrease was mainly ascribed to the shortage of working capital and new products, the company explained in a statement.
Total profit narrowed down to minus CNY 750.9857 million, compared with minus CNY 872.4475 million in 2007. Net profit attributable to shareholders of the listed company was minus CNY 702.9938 million.
Basic and diluted earnings per share both stood at minus CNY 1.64. Total assets reached CNY 1.5883 billion by the end of 2008, decreasing 47% from CNY 3.0251 billion at the end of 2007.
In addition, the Xiamen-headquartered electronics company incurred a net loss of CNY 48.2234 million, or net loss of CNY 0.11 per share, in the first quarter of 2009. Operating revenues amounted to CNY 68.6257 million, falling 90.54% year on year.
Amoi Electronics suffered losses of CNY 100 million and CNY 810 million in 2006 and 2007, respectively. So far, its liabilities have totaled CNY 2.7 billion. It can hardly pay back the debts by revenues from its current businesses. The only way out for Amoi Electronics is debts restructuring.
Regrouping will be a necessary choice for Amoi Electronics to resolve its capital problems. China Electronics Corporation (CEC), the majority shareholder of Amoi Electronics, is negotiating with the Xiamen government in bid to help the publicly-traded company get out of the hot water with the supporting from strong local companies.
The biggest risk now is the uncertainty over regrouping or debts restructuring, which may lead to a delisting, noted Amoi Electronics.
Given that it failed to resume profitability after suspending share trading on the stock market for a year, the company will be delisted from the bourse, said people familiar with the matter.
Its operating revenues for the full year 2009 are expected to be CNY 420 million. Expenses will amount to CNY 200 million or so.
(USD 1 = CNY 6.83)
Source: dycj.ynet.com (June 02, 2009)
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
