Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3868) PROFIT WARNING

This announcement is made by the Company pursuant to Rule 13.09(1) of the Listing
Rules.
The Board wishes to inform shareholders and potential investors of the Company that based on the Board's preliminary assessment of the Group's management accounts, it is expected that the profit of the Group for the year ended 31 December 2011 may decline significantly as compared with that for the corresponding period in 2010.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

This announcement is made by Qunxing Paper Holdings Company Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule13.09(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").
The Board of Directors (the "Board") of the Company wishes to inform the shareholders and potential investors of the Company that based on the Board's preliminary assessment of the Group's management accounts, it is expected that the profit of the Group for the year ended 31 December 2011 may decline significantly as compared with that for the corresponding period in 2010. The Board considers that the expected decline in the Group's profit was mainly attributable to increases in production costs including raw material costs and depreciation as compared with that for the corresponding period last year, inadequate local supply of electricity and steam in the second half of 2011 and increment in administrative expense resulting from the Company's measures to investigate audit issues raised by its former auditors. However, the Board would like to emphasise that the Group's current financial position remains solid with sufficient cash resources.
The Company is in the process of preparing annual results of the Group for the year ended
31 December 2011. The information contained in this announcement is only based on the preliminary assessment by the Board of the Group's management accounts and such information has not been audited or reviewed by the Company's auditors. The audited annual results of the Group for the year ended 31 December 2011 are expected to be announced on 28 February 2012.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

Qunxing Paper Holdings Company Limited ZHU Yu Guo

Chairman

Shandong, the PRC, 20 January 2012

As at the date of this announcement, the executive directors of the Company are Dr. ZHU Yu Guo (Chairman), Mr. ZHU Mo Qun (Vice-Chairman) and Mr. SUN Zhen Shui; the non-executive director of the Company is Ms. SUN Rui Fang; the independent non-executive directors of the Company are Messrs. ZHAO Wei, WANG Lu and KWONG Kwan Tong.

distribué par

Ce noodl a été diffusé par Qunxing Paper Holdings Company Limited et initialement mise en ligne sur le site http://www.qxpaper.com. La version originale est disponible ici.

Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-20 11:34:49 AM et restera accessible depuis ce lien permanent.

Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité.

Documents associés
PROFIT WARNING