China Shoto plc
("China Shoto" or "the Group")
Trading Update
The Board is pleased to report a year of excellent progress
The Board of China Shoto plc (AIM: CHNS), a leading Chinese producer of industrial batteries and power supply systems, is pleased to report excellent progress for the year ended 31 December 2007.
The Group is planning to announce its financial results for the year on April 22, 2008, and anticipates that they will be better than market expectations. As announced on 29th Nov, 2007, the directors are recommending a final dividend of 4.5 pence per share in cash for the year ending 31 December 2007, in line with its stated dividend policy.
During 2007 the Group has made significant progress in developing its export markets, successfully entering into the Indian telecommunication market with the order signed with Reliance Communications, a leading telecommunications operator in India. Also, last year, the Group became a qualified locomotive battery supplier to GETS, a subsidiary of US multinational GE. In 2007£¬the Group initiated negotiations with the network operators and the OEM Customers, resulting in a linkage scheme on lead prices which effectively alleviates the operating pressure arising from the increase in the raw material price.
The expansion of the global market and the accelerated building of the 3G network in China has expanded the market opportunity for the Group. The current year has started well and the board has every confidence that the Group will continue to make sound progress in 2008.
For further information:
China Shoto plc
Cao Guifa, Executive Chairman Tel: +44 (0) 20 7242 2666/ +86 159 6108 0515
Seymour Pierce Limited
Stuart Lane / John Depasquale Tel: +44 (0) 20 7107 8000
Media enquiries:
Allan Piper/ Jiang Lei Tel: +44 (0) 20 7242 2666/ +852 2854 2666
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