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September 13, 2010

Qiao Xing Mobile Communication H1 revenue down 69%

Posts net loss of $10m

By CBR Staff Writer

Qiao Xing Mobile Communication, a domestic manufacturer of mobile handsets in China, has reported total net revenue of RMB324m ($47.9m) for the first half of 2010, a decrease of 69% compared to RMB1.04bn ($153.6m) for the same period last year.

The company posted an operating loss of RMB85.15m ($13m) for the first half of 2010, compared to an operating income of RMB123m ($18.1m) for the same period in 2009.

For the first six months ended 30 June 2010, the company posted net loss of RMB68m ($10m), compared to a net loss of RMB59.2m ($9m) for the same period prior year.

Qiao Xing Mobile Communication reported a diluted net loss per share of RMB1.53 ($0.23), compared to a net loss per diluted share of RMB1.30 ($0.19) per share in H1 FY09.

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