The Board of Directors of Midas Holdings Ltd. informed the shareholders of the company and potential investors that it expects the company's financial results for the three months ended June 30, 2012 and for the six months ended June 30, 2012 to be significantly lower than the corresponding prior periods. In addition, the net profit for second quarter of 2012 is also significantly lower than the three months ended March 31, 2012. The expected decline is mainly attributed to: Lower revenue; Higher operating expenses and finance cost; and Significantly wider share of loss from its associated company, Nanjing SR Puzhen Rail Transport Co.

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