Hong Tai Holdings' net loss in the first half of the year expanded by 37.6% to 46.5 million yuan

Hongtai Holdings (01400) announced that in the first half of 2017, the Group's revenue was approximately 133 million yuan (RMB, the same below), a year-on-year decrease of 59.5%; the net loss attributable to owners was 46.5 million yuan, up 37.6% year-on-year; loss per share was 0.03 Points, no interim dividends.

During the period, the decrease in revenue was mainly due to the deterioration of market conditions and business environment, fierce competition in the industry, and the slowdown in China's economic growth, which caused the Group's demand for fabrics and yarn products to decline. Also, the PEI trade was suspended because the subsequent settlement of PEI trade receivables for 2016 was carried out in a very slow manner, accounting for only 10.2% of the recoverable level.