Brief: China Smarter Energy Group Holdings issues profit warning

China Smarter Energy group

04/11/2015 11:12

Nov 4 (Reuters) - China Smarter Energy Group Holdings Ltd  1004.HK : 
 * Profit warning  1004.HK  
 * Expects to record impairment loss on entire carrying value of exploration and evaluation assets of about hk$301 million as at 30 September 2015 
 * Says board has decided to discontinue the mining business of the group 
 * Board has decided to divert/focus its resources towards further development of its clean energy business 
 * Impairment losses are non-cash in nature and do not affect the group's cash flow condition 
 * Decline of vanadium price renders it not economically viable to exploit the group's vanadium mine in the near to medium term 
 * Source text for Eikon  ID:nHKS2kfSYw  
 
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