Hangzhou Zhongce parent reports reduced loss for 2009

ERJ staff report (DS)

New York -- China Enterprises Limited has reported financial results for the 12 months to December 2009. A year older than most other reporting companies. The company said its results were heavily influenced by its affiliate in the tyre business, Hangzhou Zhongce Rubber Co., Ltd. ("Hangzhou").

Operating loss decreased to Rmb2.8 million (euro 306 000) in 2009 compared to Rmb5.8 million for the last year. The Rmb2.8 million on operating loss mainly represented administrative expenses incurred for the year ended December 31, 2009.

The Annual General Meeting for the Company will be held in Hong Kong on March 31, 2011. Based on the record date of March 7, 2011, the Company will dispatch a notice of the meeting and a proxy statement to shareholders in due course.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from CEL