RNS Number : 0664M
Zhejiang Southeast Elec Power Co Ld
22 January 2009
Zhejiang Southeast Electric Power Company Limited
Announcement on Projected Loss in 2008
I. Projected earnings for the stated period
1. Forecasted Period: 1 January 2008 to 31 December 2008
2. Earnings Forecast: Based on careful calculations, the Company expects to encounter over 50% reduction in 2008 net profit attributable to shareholders compared to the same period of the previous year.
3. This forecast has not been audited.
II. Earnings for the same period of the previous year
1. Net profit attributable to shareholders in 2007: RMB 663,214,614.34.
2. Earnings per share in 2007 (on the basis of the net profit attributable to shareholders): RMB 0.33
III. Explanation of reasons for the projected loss
2008 has generally seen elevated price levels in thermal coal. The two mandatory price increases during the period have failed to offset the rising fuel costs. Therefore, it is estimated that net profit attributable to the shareholders shall decline by over 50% compared to the same period of the previous year.
IV. Investment risks
The Company shall disclose detailed financial results in its 2008 Annual Report. Investors are advised to be aware of investment risks.
Board of Directors
Zhejiang Southeast Electric Power Company Limited
22 January, 2009
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