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SSY Group Limited — Earnings Release 2011
Feb 23, 2012
50335_rns_2012-02-23_3fbf891d-0fda-4e7b-b0ea-ccdea1bf94f0.pdf
Earnings Release
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2005)
PROFIT WARNING
This announcement is made by the Company pursuant to Rule 13.09(1) of the Listing Rules.
The Board wishes to inform the Shareholders and potential investors of the Company that, based on the information currently available, the Group is expected to record a net loss for the year ended 31 December 2011 mainly due to a possible impairment loss on the goodwill in respect of intravenous infusion solution business of the Group. The goodwill was attributable to the Group’s acquisition of Shijiazhuang No. 4 Pharma in year 2007.
Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.
This announcement is made by Lijun International Pharmaceutical (Holding) Co., Ltd. (the “ Company ” and, together with its subsidiaries, the “ Group ”) pursuant to Rule 13.09(1) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the “ Listing Rules ”).
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The board of directors of the Company (the “ Board ”) wishes to inform the shareholders of the Company (the “ Shareholders ”) and potential investors of the Company that, based on the information currently available, the Group is expected to record a net loss for the year ended 31 December 2011 (the “ 2011 Annual Results ”) as compared to a net profit for the corresponding period in 2010. The Board considers that the anticipated net loss of the Group is mainly due to a possible impairment loss on the goodwill in respect of intravenous infusion solution business of the Group. The goodwill was attributable to the Group’s previous acquisition of Shijiazhuang No. 4 Pharma Co., Ltd. (“ Shijiazhuang No. 4 Pharma ”) in year 2007.
The Board wishes to point out that the businesses and operations of Shijiazhuang No. 4 Pharma had made positive contributions to the Group in 2011 and any possible goodwill impairment loss so included in the 2011 Annual Results would be a non-cash item and would therefore not be expected to have any adverse effect on the Group’s cash flows. The Board wishes to further point out that the possible goodwill impairment loss has been determined by the Board based on a valuation report received by the Board on 23 February 2012 on the valuation of the Shijiazhuang No. 4 Pharma.
Please note that the information contained in this announcement is only based on the preliminary assessment by the Board with reference to the information currently available. Such information has not been audited or reviewed by the auditors of the Company and that the actual results for the Group may be different from what is disclosed in this announcement. Shareholders and investors should read carefully the results announcement of the Company for year ended 31 December 2011, which is expected to be published in late March 2012.
Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.
By Order of the Board
Chow Hing Yeung Company Secretary
Hong Kong, 23 February 2012
As at the date of this announcement, the Board comprises Mr. Wu Qin, Mr. Qu Jiguang, Mr. Xie Yunfeng, Mr. Huang Chao, Mr. Wang Xianjun, Mr. Duan Wei, Ms. Zhang Guifu, Mr. Bao Leyuan and Ms. Gao Shuping as executive Directors, and Mr. Wang Yibing, Mr. Leung Chong Shun and Mr. Chow Kwok Wai as independent non-executive Directors.
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