Stock Codes: 600801, 900933 Stock abbreviations: Huaxin Cement, Huaxin B Share Ref: Lin 2013-003
Huaxin Cement Co., Ltd.
Announcement on Changing the Forecast of the Performance of 2012
To the best of our knowledge, the Board of Directors of the Company and its members confirm that there is no material false or misleading statement or material omission in this announcement and shall be severally and jointly liable for the truthfulness, accuracy and completeness of its content.
I. Forecast of the Performance during the Reporting Period
1. Reporting Period
January 1, 2012 to December 31, 2012
- Last Forecast of the Performance
On October 27, 2012, the Company disclosed its Third Quarter Report 2012. It is stated in the Report that “it is predicted that net profit attributable to shareholders of the Company 2012 will drop by more than 50% compared with that in 2011.”
- Forecast of the Performance after Changing
After being accounted again by the Financial Department of the Company, it is predicted that net profit attributable to shareholders of the Company 2012 will drop by 48% around compared with that in 2011, which is less than 50%.
II. Performance of the Same Period of Last Year
1. Net profit attributable to shareholders of the Company: 1,075,270,000 Yuan
2. Basic earning per share: 1.31 Yuan
III. Main Reasons for Changing the Forecast of the Performance
The Company proactively cope with the severe situation of low product prices and dull sales through enhancing internal management and securing markets. From October 2012, cement price of the Company’s major market has seen a strong rebound, while the coal price descends continuously, and meanwhile, thanks to the effective cost management, the effectiveness from decline in procurement costs, production costs and administration expenses in the fourth quarter is obvious. The performance in the forth quarter is better than previous expectation. Therefore, the range of the performance decline is smaller than the previous forecast, not exceeding 50%.
IV. Others
The aforesaid forecasted indicators are just initial figures. For accurate financial indicators, please refer to the officially disclosed Annual Report 2012 after audition. Please notice the risks of investment.
It is herewith announced.
Huaxin Cement Co. Ltd.
Board of Directors
Jan 30，2013
