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CUGCY.PK - China Oriental Culture Group Forecasts Larger Losses For 2012

|Includes:CUGCF, China Oriental Group Co. Ltd. ADR (CUGCY)

 

 
Prepared by ChinaScope Financial | Source: Company Disclosure
  • China Oriental Culture Group Ltd. (02371: HKG) released earnings alert, expecting to record a significant increase in losses for 2012 compared to the figure in 2011.

 

  • According to the company, the loss was mainly due to the substantial provision it made for the impairment loss of intangible assets, given the fact that the company had changed its operating locations and could no longer provide advertising services on all requested outdoor LED boards in every major city of China.

 

  • China Oriental Culture Group, along with its subsidiaries, specializes in the provision of advertising and consultancy services in respect of placing advertisements on the outdoor billboards and light emitting diode (LED) screens.
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: CUGCY, CUGCF