Overseas Regulatory Announcement

2017-04-18

Overseas Regulatory Announcement

 

The Board of Directors (the Board) of Northeast Electric Development Co., Ltd. (the “Company”) announces that it is predicted that the Company is in a deficit of accumulative net profit of approximately RMB-13,000,000-17,000,000 and earnings per share of RMB-0.015—-0.019 in the first quarter of this year according to the primary calculation from the financial department. The accurate financial data will be fully disclosed in the first quarterly report of 2017 before 30 April 2017. The announcement is made in accordance with Rule 13.10B of the Listing Rules.

I. Period of Results Prediction: from 1 January 2017 to 31 March 2017

II. Results Prediction: loss

It is predicted that the Company will be in a deficit of accumulative net profit of approximately RMB-13,000,000-17,000,000 and earnings per share of RMB-0.015—-0.019 in the first quarter of this year according to the primary calculation from the financial department.

The accurate financial data information will be fully disclosed in the first quarterly report of 2017 before 30 April 2017.  

III. Reasons for Changes in the Predicted Results

According to the Company's production and operation situation in the first quarter of 2017, the predicted cumulative net profit loss in the first quarter this year is RMB-13,000,000  -17,000,000  in consideration of the significant decrease of ordering and income of capacitor type products and the increase of period expense compared with last year.

IV. Did the certified public accountant audit the performance prediction? No

V. Results in the same period last year

Loss: RMB4,660,000

Earnings per share: RMB-0.0053

VI. Other Related Explanation

The predicted results are primarily calculated by the financial department of the Company. The Board of Directors confirms that the accurate financial data will be fully disclosed in the first quarterly report of 2017 before 30 April 2017. Investors are advised to pay attention to investment risks.                                            

 

 

                                             By order of the Board

                                                 Su Jianghua

                                                  Chairman

 

 

Changzhou, Jiangsu Province, the People’s Republic of China

 

14 April 2017

 

 

The directors of the Company, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (i) the information contained in this Announcement is accurate and complete in all material respects and not misleading; (ii) there are no other matters the omission of which would make any statement in this Announcement misleading; (iii) all opinions expressed in this Announcement have been arrived at after due and careful consideration and are founded on bases and assumptions that are fair and reasonable.

 

As at the date of the Statement,the Board of Directors comprises of six directors, namely Mr. Su Jianghua, Mr. Su Weiguo, Mr. Wang Zheng, Mr. Liu Jun, Mr. Li Min, and Mr. Feng Xiaoyu ; and three independent directors, namely Mr. Zhang Luyang , Mr. Jin Wenhong and Mr. Qian Fengsheng.


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