Lingbao Gold Co., Ltd. provided earnings guidance for the full year ended December 31, 2015. The board of directors of the company announced that the unaudited net loss attributable to the equity shareholders of the company for the year ended December 31, 2015 is expected to be approximately RMB 460,000,000 as compared to the corresponding year of 2014, of which the net profit attributable to the equity shareholders of the company was approximately RMB 33,687,000. Such turnaround from profit to loss was mainly due to the decline in the price of gold and the decrease in the average selling price of gold which lead to a lower gross profit margin of selling gold bullion; provision for impairment loss on trade and other receivable; provision for impairment of property, plant and equipment; and the impairment in the deferred tax assets arising from tax loss carried forward.
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05-30 | Lingbao Gold Group Company Ltd. Announces Final Dividend for the Year Ended 31 December 2023, Payable on 31 July 2024 | CI |
04-25 | Lingbao Gold Group Raises HK$79 Million from Share Placement | MT |
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