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Forenotice of 2012 Half Year Performance

2012-07-1016124次
Stock Codes: 600801, 900933     Stock abbreviations: Huaxin Cement, Huaxin B Share     Ref: Lin 2012-021
 
Huaxin Cement Co., Ltd.
Forenotice of 2012 Half Year Performance
 
To the best of our knowledge, the Board of Directors of the Company and its members confirm that there is no material false or misleading statement or material omission in this announcement and shall be severally and jointly liable for the truthfulness, accuracy and completeness of its content.
 
I. Forecasted performance of the current period
1. Period for forenotice of performance: January 1, 2012 to June 30, 2012
2. Forenotice of performance: according to the preliminary estimation and calculation of the Financial Department of the Company, net profit attributable to the shareholders of the Parent Company for January to June 2012 is estimated to drop by more than 50% compared with that of the same period of the previous year.
3. The forecasted performance has not been pre-audited by CPAs.
 
II. Performance for the same period of the previous year  
Net profit attributable to the shareholders of the Parent Company for January to June 2011 was 542,055,969 Yuan.
 
III. Reasons for the drop in performance
The main reason for the decline in performance in the first half of 2012 is that prices of cement products in the main businesses of the Company slumped.  During the first half of 2012, China's economic growth cooled and FAI growth fell sharply.  Thus, the cement market encountered weak demand and falling prices.  Meanwhile, cement capacity continued to expand strongly in the major markets of the Company.  This was due to macroeconomic stimulus several years ago, which led to overheated investments in the cement industry.  The result is a great imbalance between supply and demand, which further dampened the outlook on cement prices.
 
IV. Other related information
Detailed financial data shall be disclosed in the Half Year Report 2012 of the Company.  Public investors are hereby kindly requested to notice investment risks.
 
It is herewith announced.
 
Board of Directors of Huaxin Cement Co., Ltd.
July 10, 2012
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