Meili Paper Industry: Pre-losing 77 million in the first half

Involvement on behalf of ST Dongsheng (600 771) in overdue security, Meili Paper Industry (000815) today amended in the first half performance, the original loss of 11 million yuan for the loss of 77 million yuan to amend, down 2400%, basic earnings per share is negative 0.24 yuan.

Mainly due to its subsidiaries for the ST Tung Shing Tung Shing Chinese banks can not repay the debt due, the company providing its guarantee to 66 million yuan provision for estimated liabilities. The company is expected to guarantee 234.6 million yuan, of which ST Dongsheng and its subsidiaries involving 133.15 million yuan, Northwest bearing (000 595) was 101.45 million yuan. However, the company said prior year judgments based on information available at that time, the company did not expect the provision for overdue debt security issues, this year's interim financial report, based on the company to be on currently available information and its subsidiary, ST Tung Shing Tung Shing Chinese overdue The actual amount of provision for security is expected to bear the liabilities of 66.03 million yuan, the Northwest secured overdue items bearing the company's production operations due to normal without provision for estimated liabilities.