Weiqiao Textile Co. Ltd. Provides Group Earnings Guidance for the Year Ended December 31, 2017
February 12, 2018 at 09:48 am EST
The Board announced the shareholders of the Weiqiao Textile Co. Ltd. and the potential investors that as the prices of production factors such as cotton and coal kept high, the production cost of Group continued to increase. Meanwhile, as the demand in the cotton textile market remained weak, the increase in the sale prices of the Group's products was less than the increase in the raw material costs and the sales volume of products has also decreased. It is expected that there would be a significant decrease in the net profit of the Group for the year ended 31 December 2017 as compared to the net profit for the year ended 31 December 2016.