CHNS -3x Short China

TIDMCHNS

RNS Number : 8667Z

China Shoto plc

21 January 2011

China Shoto plc

("China Shoto" or "the Company")

Pre-Close Trading Update

China Shoto plc (AIM: CHNS), a leading Chinese battery producer and the largest supplier of back-up batteries to China's three major telecommunications operators, today provides a trading update for the year ended 31 December 2010. Further to the announcements made during the year, the Company has experienced some challenging trading conditions. In particular a substantial decrease in the levels of investment made by the three major Chinese telecom operators is expected to adversely affect the Company's financial performance for the year ended 31 December 2010. The unusually high spending in 2009 was fuelled partially by an economic stimulus package from the Chinese Government.

As a result of reduced levels of spending by the three major Chinese telecom operators, competition has increased and contributed to gross profit margins declining when compared to the year ended 31 December 2009. As expected, the Company's trading performance did improve during the second half of the year; however the Board estimates that net profit for the year ended 31 December 2010 will decrease by approximately 30% when compared on a year-on-year basis to the previous financial year.

 
 China Shoto plc                    Tel: +44(0) 20 7242 2666 / +86 
  Yang Shanji, Executive Chairman    159 6108 0515 
                                     www.chinashoto.com 
 Seymour Pierce Limited             Tel: +44(0) 20 7107 8000 
  Stewart Dickson (Corporate         www.seymourpierce.com 
  Finance) 
  Leti McManus (Corporate 
  Broking) 
 Media enquiries:                   Tel: +44(0) 20 7242 2666 / +852 
  Allan Piper/ Jiang Lei             2854 2666 
  lei@firstcitypr.com                www.firstcitypr.cn 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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