not vested
Profit Warning
The Board wishes to inform the shareholders of the Company and potential investors that the Consolidated Profit for the half year ended 30 June 2012 is expected to decrease substantially in comparison with that of the same period of last year.
The Board considers that the deterioration in the performance of the Group is mainly attributable to
(i) the substantial decrease in comparison with that of the same period of last year in the gain on fair value adjustment on certain equity investments at fair value through profit or loss held by the Company; and
(ii) the domestic economic growth has slowed down and the steel demand was sluggish. The selling price of steel products reduced
substantially in comparison with that of the same period of last year, and this reduction rate was higher than the decrease in price of raw materials and fuels, causing that the results of the steel segment in the first half year dropped significantly as compared with that of the same period of 2011.
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