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600677 - Aerospace Communications Holdings Co News Story

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BRIEF-Aerospace Communications Sees 2019 Net Profit, Share Trade To Halt

Tue 21st January, 2020 1:06am
Jan 21 (Reuters) - Aerospace Communications Holdings Co Ltd
 600677.SS :
    * SAYS IT SEES 2019 NET PROFIT AT 70-100 MILLION YUAN VERSUS
NET
LOSS OF 1.5 BILLION YUAN  ($218.46 million) YEAR EARLIER
    * SAYS TRADING IN SHARES TO HALT ON JAN 21 TO IMPLEMENT
DELISTING
RISK WARNING AS IT REPORTED NET LOSSES FOR THREE CONSECUTIVE
YEARS BETWEEN 2016 AND 2018
    * SAYS ITS SHARE TRADE TO RESUME ON JAN 22
    * SAYS IT SETS ASIDE ASSET IMPAIRMENT PROVISION ON ZHIHUI
HAIPAI
TECHNOLOGY, TO REDUCE 2019 NET PROFIT BY 1.3 BILLION YUAN

Source text in Chinese: https://bit.ly/30KL4e7 ;
https://bit.ly/2NGNJjG ;
http://static.sse.com.cn/disclosure/listedinfo/announcement/c/20
20-01-21/600677_20200121_3.pdf
Further company coverage:  600677.SS 

($1 = 6.8664 Chinese yuan renminbi)

 (Reporting by Hong Kong newsroom)
 ((meg.shen@thomsonreuters.com; 852-28436901; Reuters Messaging:
meg.shen.thomsonreuters.com@reuters.net))
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