August 15, 2007

BBCA Biochemical incurs losses in 1H 2007

Anhui BBCA Biochemical announced today (Aug 15) that it had incurred losses in the first half of 2007. Losses per share amounted to RMB0.32 while net asset per share stands at RMB1.56. Net returns on assets had declined 20.29 percent compared with last year.

The Shenzhen-listed company cited high corn and energy prices, lower profits from fuel ethanol sales, the appreciation of the Chinese currency as well as increased borrowing costs as factors that had affected profitability.

RMB1=US$0.1319 (Aug 15)