-3x Short China Regulatory News (CHNS)

11 Mar 2008 07:02

China Shoto plc11 March 2008 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 ofindustrial batteries and power supply systems, is pleased to report excellentprogress for the year ended 31 December 2007. The Group is planning to announce its financial results for the year on April22, 2008, and anticipates that they will be better than market expectations. Asannounced on 29th Nov, 2007, the directors are recommending a final dividend of4.5 pence per share in cash for the year ending 31 December 2007, in line withits stated dividend policy. During 2007 the Group has made significant progress in developing its exportmarkets, successfully entering into the Indian telecommunication market with theorder signed with Reliance Communications, a leading telecommunications operatorin India. Also, last year, the Group became a qualified locomotive batterysupplier to GETS, a subsidiary of US multinational GE. In 2007, theGroup initiated negotiations with the network operators and the OEM Customers,resulting in a linkage scheme on lead prices which effectively alleviates theoperating pressure arising from the increase in the raw material price. The expansion of the global market and the accelerated building of the 3Gnetwork in China has expanded the market opportunity for the Group. The currentyear has started well and the board has every confidence that the Group willcontinue to make sound progress in 2008. For further information: China Shoto plcCao Guifa, Executive Chairman Tel: +44 (0) 20 7242 2666/ +86 159 6108 0515 www.chinashoto.com Seymour Pierce LimitedStuart Lane / John Depasquale Tel: +44 (0) 20 7107 8000 jdp@seymourpierce.com www.seymourpierce.com Media enquiries: Allan Piper/ Jiang Lei Tel: +44 (0) 20 7242 2666/ +852 2854 2666 lei@firstcitypr.com www.firstcitypr.cn - END - This information is provided by RNS The company news service from the London Stock Exchange