honghua group (196) Snapshot

Honghua Group Limited provided preliminary group earnings guidance for the six months ended June 30, 2018. For the six months, the Group's loss is expected to decrease by approximately 60%-80% as compared to the Group's loss for the six months ended 30 June 2017. The expected significant decrease in loss was mainly attributed to the fact that (i) Due to the recovery of the global oil and gas industry, the production and operation state of the Group was further improved, which result in a significant increase in revenue for the six months ended 30 June 2018 compared with the same period last year; (ii) The quality of the Group's assets was further stabilized and the impairment provision was significantly reduced compared with the same period last year; and (iii) The Group has taken some positive measures such as cost reduction and expense control.

Honghua Group Limited reported consolidated earnings results for the year ended December 31, 2017. For the year, the company reported revenue of RMB 2,175,856,000 against RMB 2,147,592,000 a year ago. Operating loss was RMB 103,374,000 against RMB 464,985,000 a year ago. Loss before income tax was RMB 346,545,000 against RMB 542,899,000 a year ago. Loss from continuing operations was RMB 395,196,000 against RMB 517,471,000 a year ago. Loss attributable to owners of the company was RMB 1,239,368,000 or 26.50 cents per basic and diluted share against RMB 609,689,000 or 19.18 cents per basic and diluted share a year ago. Loss attributable to owners of the company from continuing operations was RMB 401,584,000 or 8.59 cents per basic and diluted share against RMB 495,542,000 or 15.59 cents per basic and diluted share a year ago.

Honghua Group Limited, Annual General Meeting, Jun 21, 2018, at 09:30 China Standard Time. Location: Novotel Century Hong Kong 238 Jaffe Road Wanchai Hong Kong Agenda: To receive and consider the audited consolidated financial statements and the reports of the directors and of the auditors of the company for the year ended 31 December 2017; to consider re-election of directors; to re-appoint PricewaterhouseCoopers as auditors for the year ending 31 December 2018 and authorise the Board of Directors to fix their remuneration; to give a general mandate to the Directors to buy back the company's shares not exceeding 10% of the total number of shares of the company in issue as at the date of passing of this resolution; to give a general mandate to the Directors to issue, allot and deal with additional shares of the company not exceeding 20% of the total number of shares of the Company in issue as at the date of passing of this resolution; and to extend the general mandate granted to the directors to issue, allot and deal with additional shares in the capital of the company by the number of shares bought back by the company.