[ET Net News Agency, 17 August 2021] China Silver Group Limited (00815) said for the
six months ended 30 June 2021 (1H 2021), the group expects to record a substantial net
loss attributable to owners of the company of RMB2.3 billion to RMB2.5 billion, as
compared to a net profit attributable to owners of the company of approximately RMB115
million for the six months ended 30 June 2020 (1H 2020).
The loss was mainly attributable to the write-off of inventory in the amount of
approximately RMB2.4 billion as a result of certain of Jiangxi Longtianyong's inventory of
raw materials being deemed to be hazardous waste and ordered to be disposed of. This has
far outweighed (i) the increase in commission income of the group's silver exchange
segment during 1H 2021; and (ii) the decrease in or absence of various expenses and losses
and hence the increase in net profit of the group's new jewellery retail segment operated
under the company's non-wholly-owned subsidiary CSMall Group Limited (01815) during 1H
2021. (RC)
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00815 CHI SILVER GP
Nominal 
0.280 +0.010 (+3.704%) Others
17/08/2021 15:20
Chi Silver Gp (00815) expects to record interim loss
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