China Innovationpay Group Limited provided consolidated earnings guidance for the six months ended June 30, 2014. The company expects to record a loss after tax for the six months ended June 30, 2014 as compared to a profit after tax for the corresponding period in 2013. Based on the information available for the time being, the Board considers that, compared to the corresponding period in 2013, the expected loss for the six months ended 30 June 2014 was mainly due to (i) decrease in the turnover of the Group during the period; and (ii) the costs of advertising and promotion of the products increased.
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- China Innovationpay Group Limited Provides Consolidated Earnings Guidance for the Six Months Ended June 30, 2014