China Merchants Hldg : PROFIT WARNING
07/20/2012| 05:16pm US/Eastern
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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 Hong Kong with limited liability under the
Companies Ordinance)
(Stock Code: 144)
PROFIT WARNING
This announcement is made by China Merchants Holdings
(International) Company Limited (the "Company", and together
with its subsidiaries, the "Group") pursuant to Rule 13.09(1)
of the Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited.
The board of directors of the Company (the "Board") wishes to
inform shareholders and potential investors of the Company
that the Group is expected to record a significant decline of
profit for the six months ended 30 June 2012 as compared with
the same period last year.
The expected decline in the interim results of the Group was
primarily attributable to the following reasons:
(1) an estimated decline of 55% to 75% in the net profit of
China International Marine Containers (Group) Co., Ltd., an
associate of the Company, for the six months ended 30 June
2012 as compared with the same period last year, resulting in
a corresponding estimated decline in the profit of the Group;
and
(2) the gain of HK$1,367 million resulting from the deemed
disposal of an interest in an associate in the same period
last year will not occur this year.
The information contained in this announcement is only based
on the preliminary assessment of the unaudited management
accounts of the Group and is not based on any information or
figures which have been audited or reviewed by the Company's
auditors. Detailed financial information of the Group for the
six months ended 30
June 2012 will be published in August 2012.
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Shareholders and potential investors of the Company should
exercise caution when dealing in the shares of the Company.
By Order of the Board
China Merchants Holdings (International) Company Limited
FU Yuning
Chairman
Hong Kong, 20 July 2012
As at the date of this announcement, the Board comprises Dr.
Fu Yuning, Mr. Li Jianhong, Mr. Li Yinquan, Mr. Hu Zheng, Mr.
Meng Xi, Mr. Su Xingang, Mr. Yu Liming, Mr. Hu Jianhua, Mr.
Wang Hong and Mr. Zheng Shaoping as executive directors; and
Mr. Kut Ying Hay, Mr. Lee Yip Wah Peter, Mr. Li Kwok Heem
John, Mr. Li Ka Fai David and Mr. Bong Shu Ying Francis as
independent non-executive directors.
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