Zhi Cheng Holdings Limited (HKG:8130) announced that the group is expected to record a substantial loss for the year ended 31 March 2012. The board considers that the loss is principally attributable to the substantial impairment loss in respect of intangible assets related to the master services agreement and the licensing agreement.

Nevertheless, the board is of the view that such losses will not have any material adverse impact on the business operation of the group and the financial position of the group remains sound.

The group’s final results announcement for the year ended 31 March 2012 is expected to be published before the end of June 2012.

Source:chinesestock.org