August 30 – Siyuan Electric (002028) recorded a 71.83 percent fall in interim net profits to 64.19 million yuan, reports yicai.com, citing a company filing. EPS hit 0.15 yuan during those six months, down 71.15 percent. Revenues rose 5.63 percent to 775 million yuan with gross profit margin down eight percentage points. Percentage changes cited in this article are year-on-year.

The firm saw an 86.41 percent decline in investment returns to only 17.09 million yuan, compared to 126 million yuan recorded the same period a year ago.

Siyuan Electric predicts net profits for the first three quarters will fall by between 50 and 80 percent.

Source:capitalvue