Routon warns investors of delisting risk
Routon warns investors of delisting risk
15:32, January 27, 2010 
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China's Routon Electronic Co., Ltd. could be delisted on the Shanghai Stock Exchange for reporting two consecutive years of losses, the company announced Wednesday.
The electronic terminals and software producer, based in Wuhan, central China's Hubei Province, estimated that its net profit attributable to shareholders had dropped about 100 percent year on year, said a company statement filed to the Shanghai Stock Exchange.
Detailed statistics would be released after an audit, said the company.
According to Routon's report for the third quarter last year, net losses amounted to 31.26 million yuan (4.58 million U.S. dollars) in the first nine months of 2009.
In 2008, the company incurred a total net loss of more than 77.2 million yuan (11.3 million U.S. dollars) and the loss per share was 0.31 yuan, said the company.
Routon said the shift of the company's focus to program design and IT services made its fixed assets obsolete, causing the losses.
The opening price of its stock on Wednesday was 6.1 yuan, dipped from 7.66 yuan a week before.
The company, founded in 1994, has a total assets of around 639.7 million yuan and it has 212.1 million shares standing in A share market.
Routon went public in 2002 and has not distributed dividends since 2002.
Source: Xinhua
The electronic terminals and software producer, based in Wuhan, central China's Hubei Province, estimated that its net profit attributable to shareholders had dropped about 100 percent year on year, said a company statement filed to the Shanghai Stock Exchange.
Detailed statistics would be released after an audit, said the company.
According to Routon's report for the third quarter last year, net losses amounted to 31.26 million yuan (4.58 million U.S. dollars) in the first nine months of 2009.
In 2008, the company incurred a total net loss of more than 77.2 million yuan (11.3 million U.S. dollars) and the loss per share was 0.31 yuan, said the company.
Routon said the shift of the company's focus to program design and IT services made its fixed assets obsolete, causing the losses.
The opening price of its stock on Wednesday was 6.1 yuan, dipped from 7.66 yuan a week before.
The company, founded in 1994, has a total assets of around 639.7 million yuan and it has 212.1 million shares standing in A share market.
Routon went public in 2002 and has not distributed dividends since 2002.
Source: Xinhua
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