[ET Net News Agency, 3 March 2020] Kingboard Holdings Limited (00148) said it is
expecting to record a decrease in the reported net profit and underlying net profit from
45% to 55% and from 20% to 30%, respectively, for the year ended 31 December 2019 as
compared with 2018. Underlying net profit excluded share-based payments, gain on disposal
of a subsidiary and written off of property, plant and equipment.
The expected decrease in the underlying net profit is mainly attributable to the fact
that the market was in short supply in 2018, and the unit selling prices of products were
higher. However, the gap between supply and demand in 2019 has narrowed, and the unit
selling prices of certain products have fallen in 2019. The expected decrease in the
reported net profit is mainly attributable to the abovementioned reason in supply and
demand and the absence of certain extraordinary or exceptional items when compared with
2018. (RC)