CST GROUP LIMITED 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: 985) P O S I T I V E P R O F I T A L E RT
This announcement is made by the Company pursuant to Rule 13.09(2) of the Listing Rules and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
The Board wishes to inform the Shareholders and potential investors that the Group is expected to record a profit for its financial year ended 31 March 2015 as compared with the loss recorded by the Group for its financial year ended 31 March 2014. This positive profit alert announcement is only based on the preliminary review on the management accounts of the Group, which has not been confirmed nor audited by the Company's auditors.
The audited results announcement of the Group for its financial year ended 31 March 2015 is expected to be announced before the end of June 2015.
This announcement is made by CST Mining Group Limited (the "Company", and together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Based on a preliminary review by the Company's management on the management accounts of the Group, the board of directors of the Company (the "Board") wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that the Group is expected to record a profit for its financial year ended 31 March 2015 as compared with the loss recorded by the Group for its financial year ended 31 March 2014. The Board considers that the expected profit is mainly attributable to (i) a decrease in staff and operating costs and depreciation expense which in turn lowered the cost of sales and the administrative expenses in relation to the copper mining business of the Group for its financial year ended 31 March
2015; (ii) the recognition of the share of profit of a joint venture during the financial year ended 31 March 2015 of approximately US$12.4 million; and (iii) a decrease in impairment loss in relation to the Group's mining business segment for the financial year ended 31 March
2015 as compared with the financial year ended 31 March 2014.
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This positive profit alert announcement is only based on the preliminary review on the management accounts of the Group, which has not been confirmed nor audited by the Company's auditors.
The Company is in the process of finalizing the annual results of the Group for its financial year ended 31 March 2015. The overall financial results of the Group for its financial year ended 31 March 2015 will only be ascertained when all the relevant results and treatments are finalized. The audited results announcement of the Group for its financial year ended 31
March 2015 is expected to be announced before the end of June 2015.
By Order of the Board CST Mining Group Limited Chiu Tao
Executive Director & Chairman
Hong Kong, 15 May 2015
As at the date of this announcement, the Board comprises (i) Mr. Chiu Tao (Chairman), Mr. Hui Richard Rui, Mr. Lee Ming Tung, Mr. Kwan Kam Hung, Jimmy, Mr. Yeung Kwok Yu and Mr. Tsui Ching Hung as executive directors of the Company and (ii) Mr. Yu Pan, Ms. Tong So Yuet and Ms. Ma Yin
Fan as independent non-executive directors of the Company.
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