16 May 2013 07:00
Cathay International Holdings Limited
("Cathay" or the "Company")
Interim Management Statement
Hong Kong, 16 May 2013 - Cathay International Holdings Ltd. (LSE: CTI.L), a main market listed investment holding company and a leading investor in the growing healthcare sector in the People's Republic of China ("PRC"), today announces its Interim Management Statement for the period from 1 January 2013 to 16 May 2013 in accordance with FSA Disclosure and Transparency Rule 4.3.
Business update
Lansen is performing in line with management expectations. With the expansion of its Pafulin extract production plant completed in first quarter of 2013, Lansen is expected to benefit from the supply line efficiency and be in a position to meet increasing demand for their products.
During the period, Haotian continued to resolve the outstanding phytin related issues to enable commercial production of inositol, expected to start in the third quarter of this year. The inositol price has continued to rise due to some producers experiencing environmental and technical difficulties, therefore a reduction in their supply.
The Hotel continues to improve service quality and build a loyal customer base. During the period, it has beenperforming within management expectations.
Financial position
There has been no significant change in the financial position of the Group since the Company's full year financial results for the year ended 31 December 2012, which were reported on 26 March 2013.
-ENDS-
For further enquiries, please contact:
Cathay International Holdings Limited Eric Siu (Finance Director) Patrick Sung (Director and Controller) |
Tel: +852 2828 9289 |
M:Communications Mary-Jane Elliott / Amber Bielecka / Claire Dickinson |
Tel: +44 (0)20 7920 2330 |
About Cathay
Cathay International Holdings Limited (LSE: CTI.L), focused on the People's Republic of China ("PRC"), is an investment holding company and a leading investor in the growing healthcare sector in the People's Republic of China ("PRC"). The Group employs more than 2,000 people across the PRC, including over 30 specialist corporate and business development staff based at the holding company's offices in Hong Kong and Shenzhen.
Cathay aims to identify investment opportunities with emphasis on high growth healthcare markets and build them into market sector leaders, with a clear exit strategy. Cathay has demonstrated a strong track record of identifying high-growth potential investment opportunities in this area including: Lansen Group, China's leading specialty pharmaceutical company focused on rheumatology and Haotian Group, a company engaged in the manufacture, marketing and sale of key active ingredients for healthcare products, including inositol. To complement its healthcare portfolio, Cathay has a research and product development business focused on bringing new products to the growing Chinese market.
Cathay also has a private equity investment arm focused on minority investment opportunities and a hotel investment. For more information please visit the Company's website: www.cathay-intl.com.hk.