Honghua Group Limited Provides Consolidated Earnings Guidance for the Year Ended December 31, 2016
January 10, 2017 at 02:01 pm IST
Honghua Group Limited provided consolidated earnings guidance for the year ended December 31, 2016. For the period, the group's loss is expected to increase substantially as compared to the group's loss for the year ended December 31, 2015. The expected loss is primarily attributable to the fact that the international oil and gas market has not improved significantly, which resulted in a substantial decrease of the Group's sales revenue, especially a substantial loss recorded from the group's oil and gas engineering services sector and offshore engineering equipment sector for lacking of business.