Skyworth further delays financial report

Skyworth Digital Holdings Ltd. said the report of its first-half financial results would be further delayed as the company and its auditors needed more time to prepare the document.

Skyworth, which ranks among the top five television makers on the mainland, said it would issue its results for the six months ended Sept. 30, 2004 by the end of March. It was originally scheduled to report the results late last year, but later said it intended to make the announcement around the middle of February.

Separately, the company said it sold 1.29 million televisions in January, up 10 percent from December. Its domestic TV sales in January rose 15.6 percent month on month to 1.13 million units, while its overseas sales fell 17 percent to 168,500 units.

Skyworth's shares have been suspended from trading since Nov. 30, when its former chief executive, Stephen Wong, and his brother were charged by Hong Kong¡¯s anti-corruption agency with conspiring to steal more than HK$48 million (US$6.15 million) from the firm. Skyworth has since appointed a new chief executive, Wang Dianfu.

The firm said trading would remain suspended pending further notice. It gave no indication of when the company¡¯s shares would resume trading.

Shenzhen Daily-Agencies