Jilin Chemical Industrial Company Limited Results Warning
13 Julho 2005 - 9:53AM
PR Newswire (US)
Jilin Chemical Industrial Company Limited Results Warning JILIN
CITY, China and HONG KONG, July 13 /Xinhua-PRNewswire-FirstCall/ --
The board of directors of Jilin Chemical Industrial Company Limited
(the 'Company') (HKSE: 368; NYSE: JCC) wishes to announce that the
Company's performance has declined substantially due to the
continuing increase in the price of crude oil in the domestic and
international markets, which has exceeded the increase in the price
of processed oil. The net profit of the Company for the first half
of 2005 is expected to decrease by over 50% as compared with the
corresponding period of 2004. Detailed information on the net
profit of the Company for the first half of 2005 will be disclosed
in the Company's interim results announcement to be published on 15
August 2005. The Company is one of the largest producers of basic
chemical and chemical raw materials, and one of the largest
diversified chemical enterprises in the PRC. Its primary business
consists of the production of petroleum products, petrochemical and
organic chemical products, synthetic rubber products, chemical
fertilizers and other chemical products. This press release
contains statements of a forward-looking nature. These statements
are made under the 'safe harbor' provisions of the U.S. Private
Securities Litigation Reform Act of 1995. You can identify these
forward- looking statements by terminology such as 'will,'
'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,'
'estimates' and similar statements. The accuracy of these
statements may be impacted by a number of business risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated, including risks related to:
the risk that the PRC economy may not grow at the same rate in
future periods as it has in the last several years, or at all,
including as a result of the PRC government's macro-economic
control measures to curb over-heating; uncertainty as to global
economic growth in future periods; the risk that prices of the
Company's raw materials, particularly crude oil, will continue to
increase but that the Company may not be able to raise its prices
accordingly which would adversely affect the Company's
profitability; the risk that new marketing and sales strategies may
not be effective; the risk that fluctuations in demand for the
Company's products may cause the Company to either over-invest or
under-invest in production capacity in its major production
categories; the risk that investments in new technologies and
development cycles may not produce the benefits anticipated by
management; the risk that the trading price of the Company's shares
may decrease for a variety of reasons, some of which may be beyond
the control of management; competition in the Company's existing
and potential markets; and other risks outlined in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update this
forward-looking information, except as required under applicable
law. For further information, please contact: Mr. Li Chunqing Jilin
Chemical Industrial Company Limited Tel: +86-432-390-3651 Fax:
+86-432-302-8126 Ms. Gladys Lee Fortune China Public Relations Ltd.
Tel: +852-2838-1162 Fax: +852-2834-5109 DATASOURCE: Jilin Chemical
Industrial Company Limited CONTACT: Mr. Li Chunqing of Jilin
Chemical Industrial, +86-432-390-3651, or fax, +86-432-302-8126; or
Ms. Gladys Lee of Fortune China Public Relations Ltd.,
+852-2838-1162, or fax, +852-2834-5109, for Jilin Chemical
Copyright