Frbiz.com Reports * St Chunlan Asset Replacement To Complete The Third Quarter, Driven By Soaring Pr
Since the completion of the asset replacement during the reporting period
, * ST Chunlan particularly eye-catching in this year's three quarterly for the listing of the company to restore hope.Corporation today announced three quarterly show that third-quarter net profit reached 159 million yuan, an increase of 176%, report basic earnings per share were 0.306 yuan during the period. Because from 2005 to 2007 for 3 consecutive years of losses, * ST Chunlan on May 9, 2008 was listed on the Shanghai Stock Exchange suspended.
In order to restore market this year, September 6, * ST Chunlan issued a restructuring plan. Chunlan shares worth 656 million yuan with the accounts receivable, as well as its stake in three subsidiaries replacement Chunlan Group's land and assets such as electricity. Along with asset replacement, * ST Chunlan strip non-performing assets and get into a new profitable projects, while * ST Chunlan main air-conditioning business and has not changed.
In early September, after release of this plan, * ST Chunlan the progress of implementation is also a "full speed." Company and the parties to the transaction in the September 24 delivery of the replacement assets, and in the same month the completion of 29 involved in state-owned land use certificates and housing for all warrants changes, September 30 to complete the change of equity involved in the company's business change the registration, before the end of the third quarter of this year, the company's major asset replacement has been implemented have been completed; and "results" immediately reflected in the three quarterly reports. Company from July to September net profit reached 159 million yuan, compared with a loss of 10.64 million yuan a year earlier.
* ST Chun-lan, operational improvements will certainly be of help to restore market. Prior to the company in 2008 to achieve annual net profit attributable to parent company, the owner of 12.0804 million yuan, in May this year, proposes to restore the company's listing application to the Shanghai Stock Exchange on May 11 be entertained. However, the SSE issued on May 15 opinion letter, require companies listed on the Annual Report and recovery issues related to materials for further clarification and explanation. The company released October 12 showed the most recent announcement of progress, the SSE is to send another letter, requiring the company prior to November 15, on the relevant issues for further clarification and explanation, and reply in writing.
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