Flying Financial Service Holdings Limited Provides Consolidated Earnings Guidance for the Second Quarter and Six Months Ended June 30, 2014
It is also expected that the group would record a consolidated net loss for the three months ended 30 June 2014 as compared to the consolidated net profit recorded for the corresponding period in 2013. The decline in consolidated net profit was primarily attributable to moderate decrease in the revenue due to the decrease of number of new contracts entered into for the financial consultation service and entrusted loan service of the Group; the Group incurred other loss for the six months ended 30 June 2014 due to provision for impairment of accounts receivable; and increase in the interest expenses in connection with the issuance of the corporate bonds denominated in Renminbi with an aggregate value of RMB 100 million, which was slightly diminished by the decrease in administrative expenses mainly due to the decrease of advertising expenses.