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qingmei group holdings ltd (QMEI) Snapshot

Open
$0.01
Previous Close
$0.01
Day High
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Day Low
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52 Week High
09/20/13 - $0.05
52 Week Low
09/17/14 - $0.01
Market Cap
8.2M
Average Volume 10 Days
195.5K
EPS TTM
$-0.39
Shares Outstanding
679.8M
EX-Date
11/3/11
P/E TM
--
Dividend
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Dividend Yield
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Current Stock Chart for QINGMEI GROUP HOLDINGS LTD (QMEI)

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qingmei group holdings ltd (QMEI) Details

Qingmei Group Holdings Limited, an investment holding company, engages in the design and manufacturing of mid-end and high-end sports shoe soles in the People’s Republic of China. The company offers its products under the names of MD II, MD I, and RB, which are used in the manufacture of shoes for athletic, sporting, and physical activities, such as running, tennis, basketball, climbing, cross-training, and casual-wear sports. Qingmei Group Holdings Limited supplies its products to domestic shoe manufacturing brands, which include Double Star, Jin Shu Wang, Kang Ta, Qiao Dan, K-Bird, 361°, and Xtep. The company was incorporated in 2009 and is headquartered in Jinjiang, the People’s Republic of China.

Founded in 2009

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qingmei group holdings ltd (QMEI) Key Developments

Qingmei Group Holdings Limited Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2014; Reports Impairment Charges

Qingmei Group Holdings Limited announced unaudited consolidated earnings results for the fourth quarter and full year ended June 30, 2014. For the quarter, the company reported revenue of RMB 81,875,000 against RMB 35,864,000 a year ago. Loss before income tax was RMB 190,589,000 against RMB 21,821,000 a year ago. Loss for the period attributable to the owners of the company was RMB 186,906,000 against RMB 22,071,000 a year ago. Loss per diluted and basic share for loss attributable to the owners of the company during the period was 27.5 cents against 3.2 cents a year ago. Net cash used in operating activities was RMB 66,478,000 against RMB 14,023,000 a year ago. Payment for purchases of property, plant and equipment was RMB 38,038,000 against RMB 12,745,000 a year ago. For the full year, the company reported revenue of RMB 258,282,000 against RMB 164,599,000 a year ago. Loss before income tax was RMB 269,024,000 against RMB 117,333,000 a year ago. Loss for the period attributable to the owners of the company was RMB 265,341,000 against RMB 117,583,000 a year ago. Loss per diluted and basic share for loss attributable to the owners of the company during the period was 39 cents against 17.3 cents a year ago. Net cash used in operating activities was RMB 167,334,000 against RMB 54,988,000 a year ago. Payment for purchases of property, plant and equipment was RMB 58,148,000 against RMB 21,495,000 a year ago. Net asset value per share was RMB 1.07 as at June 30, 2014 against RMB 1.46 as at June 30, 2014. The increase in revenue was mainly due to the increase in sales quantity of 81.4% to 17.9 million pairs of shoe soles. For the quarter, the company reported impairment losses on non-current assets of RMB 106,870,000.

Qingmei Group Holdings Limited Provides Group Earnings Guidance for the Year Ended June 30, 2014

Qingmei Group Holdings Limited announced following the preliminary review of fiscal 2014 results, the Board of the company informed that the group is expected to record an increase in the losses for the financial year ended June 30, 2014 as compared to the losses recorded for the financial year ended June 30, 2013, mainly due to a potential provision made for non-current assets impairment, change in the fair value of investment properties and provision for impairment of trade receivables.

Qingmei Group Holdings Limited Announces Unaudited Group Earnings Results for the Third Quarter and Nine Months Ended March 31, 2014

Qingmei Group Holdings announced unaudited group earnings results for the third quarter and nine months ended March 31, 2014. For the quarter, the company reported loss attributable to the owners of the company and loss before income tax of RMB 31,092,000 or 4.6 cents basic loss per share on revenue of RMB 76,108,000 compared to loss attributable to the owners of the company and loss before income tax of RMB 33,428,000 or 4.9 cents basic loss per share on revenue of RMB 30,485,000 for the corresponding period last year. The increase in revenue was mainly due to the increase in sales quantity of 179.8% to 5.3 million pairs of shoe soles. Net cash used in operating activities was RMB 52,463,000 against RMB 6,443,000 of prior year period. Payment for purchases of property, plant and equipment amounted to RMB 2,610,000. For the nine months, the company reported loss attributable to the owners of the company and loss before income tax of RMB 78,435,000 or 11.5 cents basic loss per share on revenue of RMB 176,407,000 compared to loss attributable to the owners of the company and loss before income tax of RMB 95,512,000 or 14.0 cents basic loss per share on revenue of RMB 128,735,000 for the corresponding period last year. Net cash used in operating activities was RMB 100,856,000 against RMB 40,965,000 of prior year period. Payment for purchases of property, plant and equipment amounted to RMB 20,110,000 against RMB 8,750,000 of prior year period.

 

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