Net Loss Declines More Than 90% to HK$7.38 Million
HONG KONG – (ACN Newswire) – Rare earth and refractory materials manufacturer China Rare Earth Holdings Limited (“China Rare Earth” or the “Group”) (stock code: 769) reported a net loss of HK$7,376,000 for the year ended 31 December 2018, representing a sharp decline of more than 90% relative to HK$84,781,000 last year and reflecting a significant improvement in the Group’s operation.
Financial Highlights
2018HK$’000 2017HK$’000 Change
Rare Earth Segment Revenue 554,515 386,533 +43%
Refractory Materials Segment Revenue 347,580 250,629 +39%
Total Revenue 902,095 637,162 +42%
Net Loss 7,376 84,781 -92%
Loss Per Share 0.23 HK cents 3.54 HK cents -94%
For details, please refer to the announcement issued by the Group today:
http://www3.hkexnews.hk/listedco/listconews/SEHK/2019/0328/LTN201903281016.pdf or
http://www.creh.com.hk/eng/index.htm
About China Rare Earth Holdings Limited (Stock Code: 769)
Listed on The Stock Exchange of Hong Kong Limited in October 1999, China Rare Earth is engaged in the manufacture and sales of quality rare earth and refractory products. Rare earth products are widely applied in traditional industries including steel, metallurgy, construction glass, and petrochemical, and high-tech industries such as electronics, communications, aerospace and medical equipment. Refractory products are used extensively in industrial refractory facilities for petrochemical, metallurgy, non-ferrous metallurgy, construction glass, chemical fertilizers, ceramics and power industries, etc. For more information, please visit the company’s web site at www.creh.com.hk.
For press enquiries:
Strategic Financial Relations Limited
Heidi So 2864 4826 heidi.so@sprg.com.hk
Phoebe Leung 2114 4172 phoebe.leung@sprg.com.hk
Alice Yip 2864 4862 alice.yip@sprg.com.hk
Fax: 2804 2789 / 2527 1196
Website: http://www.sprg.com.hk