Leader Environmental Technologies Limited provided earnings guidance for the second quarter ended June 30, 2013. For the period, the group expects to report a loss mainly due to the following reasons: (i) no revenue was derived from desulphurization contracts in this quarter as the company continued to be selective and only undertake those projects which offer better payment terms and/or gross profit margin; (ii) a non-cash charge of RMB 2.1 million, being the fair value of the 4.6 million shares issued to six employees pursuant to the company's Performance Share Scheme; and (iii) impairment of trade receivables of RMB 22.3 million relating to two customers who communicated to that they are unable to repay their outstanding debts.
Leader Environmental Technologies Limited
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LS9
SG2B93959478
Environmental Services & Equipment
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- Leader Environmental Technologies Limited Provides Earnings Guidance for the Second Quarter Ended June 30, 2013