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Article: Kejian to commence restructuring by year end.
- Article from:
- China Business News
- Article date:
- October 14, 2009
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Kejian to commence restructuring by year end
Shanghai. October 14. INTERFAX-CHINA - Shanghai Stock Exchange-listed China Kejian Co. Ltd. has become the second listed Chinese handset maker, after Amoi Electronics Co. Ltd., seeking to undergo major restructuring in the face of huge losses, the company announced on Oct.14.
According to the announcement, the company predicted that it would continue to incur a loss over the third quarter, estimating net losses to reach RMB 14 million ($2.05 million), compared to a net profit of RMB 104.97 million ($15.36 million) during the third quarter of 2008.
Kejian suspended handset manufacturing activities in ...