KingSun half year performance forecast net profit fell dramatically

In June 8th, KingSun released the 2015 semi annual (January 1, 2015 - June 30, 2015) results announcement notice of amendment, is expected in 2015 half year net profit attributable to shareholders of listed companies 16 million 7 thousand and 400 yuan -2737.85 million yuan, down 71.85%-51.85%.

In April 29, 2015, the company disclosed in the first quarter of this year, the full text of the report is expected in the first half of 2015 attributable to shareholders of listed companies net profit of 62 million 540 thousand and 800 yuan - $73 million 911 thousand and 900 - yuan.

KingSun said that the main causes of the differences are: the company received shares of the company Erdos Raffles City Photoelectric Technology Co., Ltd. recently (hereinafter referred to as "Raffles") notice said: with the further intensified competition in the industry, as well as by the local government structure adjustment and so on, in 2015 laifushi operating performance continued to decline, as of now, accounts receivable payables, bank loans and receivables difficult to balance, plus daily expenses, the production has been more and more difficult. After careful study, the current production situation that laifushi major changes.

By the end of December 31, 2014 the company issued to Raffles commodities amounted to 24 million 490 thousand and 700 yuan, the carrying amount of the long-term equity investment amounted to 22 million 42 thousand and 700 yuan, according to the "enterprise accounting standards" and other relevant regulations, based on the principle of prudence, intends to issue Raffles commodities, long-term equity investment impairment.

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