Symax Lift (Holding) Co. Ltd. Announces Third Quarter 2015 Financial Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/30/15 -- Symax Lift (Holding) Co. Ltd. (TSX VENTURE: SYL) ("Symax" or the "Company") announces its financial results for the three-month period ending September 30, 2015.
Highlights
SUMMARY FINANCIAL STATEMENTS
"Excluding the effect of RMB appreciation against Canadian dollar, Symax''s sales this quarter decreased by 13% year over year, the year over year decrease commenced in the third quarter of 2014 and continued into 2015. The decrease is due to the Chinese real estate industry''s slowdown which commenced in the third quarter of 2014", stated Ms. Sabrina Zhang, CEO of Symax. "We expect that the real estate slowdown will continue into 2016, andour objective is to try to mitigate the reduction in sales and take actions to reduce costsas we move forward."
About Symax Lift Holding
Symax is in the business of the development, manufacturing, and sale of elevators, as well as the provision of after-sales services in China and worldwide. Symax''s products and services are classified into two separate offerings; a main line of standardized products which include passenger elevators, goods/freight elevators, villa elevators, panorama elevators, hospital elevators, residential and commercial escalators and moving walkways; and customized elevator products.
This news release contains certain statements that may be deemed "forward looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects,", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company''s management on the date the statements are made. The Company undertakes no obligation to update these forward looking statements, except as required by law, in the event that management''s beliefs, estimates or opinions, or other factors, should change.
Contacts:
Symax Lift (Holding) Co. Ltd.
Mary Ma, CFO
604.277.6678
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Datum: 30.11.2015 - 15:05 Uhr
Sprache: Deutsch
News-ID 1401308
Anzahl Zeichen: 4761
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Machinery & Tools
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