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CHNS -3x Short China

4.5548
-0.2295 (-4.80%)
17 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
-3x Short China LSE:CHNS London Exchange Traded Fund
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.2295 -4.80% 4.5548 4.546 4.5635 0 16:35:11

Trading Update

10/12/2008 7:00am

UK Regulatory


    China Shoto plc ('China Shoto' or 'the Company')
                                                   
                                       Pre-Close Trading Update

China  Shoto  is pleased to announce that the strong progress previously reported for the  six  months
ended  30  June  2008 has continued into the second half of the financial year. As  a  result  of  the
continued  strengthening of both domestic and international sales, the Board  is  confident  that  the
results for the current year will be ahead of market expectations.

In  the  domestic telecoms sector, demand for the company's back-up batteries remains a key driver  of
the business.  China Shoto has cemented its position as a market leader by remaining the largest back-
up  battery  supplier to China Mobile, and has also successfully increased its sales to  a  number  of
other leading domestic operators.

Over  the financial year China Shoto has also continued to expand into overseas markets, most  notably
and  successfully in India where contracts with a value of US$54.92 million had been signed by the end
of  September  2008.   While  domestic sales continued to increase during the  nine  months  ended  30
September  2008,  international sales rose faster, accounting for approximately 15% of  the  Company's
total revenues for the period, up from 6% during the 2007 financial year.

The  Company has benefitted to some extent from the financial stimuli given to the Chinese economy  by
the  Government in response to the global financial crisis.  Following substantial interest rate cuts,
and  with  falling  prices  of  raw materials, the Company aims to take advantage  of  the  easing  of
financial  conditions  whilst  continuing  vigorously to pursue  its  business  opportunities  despite
competitive product price pressures.

The Board is pleased to be able to report this positive progress, and is looking forward to developing
the business further in 2009.


For further information please contact:

China Shoto plc
Susan Sun                                                        Tel: +86 15961080515
                                                                 www.chinashoto.com

Seymour Pierce Limited
Stuart Lane / John Depasquale / Christopher Wren                 Tel: +44 (0) 20 7107 8000
                                                                 www.seymourpierce.com

First City Public Relations
Jiang Lei                                                        Tel: +44 (0) 20 7242 2666
                                                                 www.firstcitypr.com

								
China Shoto plc



								

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