FSL net profit fell nearly 8 last year

FSL recently released 2015 annual results letters, announcements, the year 2015 the company achieved operating income of 2 billion 877 million yuan, down 6.26%; attributable to shareholders of listed companies net profit of 53 million 400 thousand yuan, down 79.93%.

FSL said that the main reason to affect the company's net profit changes are: (1) according to the Guangzhou intermediate people's Court of the false statement of securities dispute case series, the year 2015 the company to investors pay 131 million 889 thousand and 900 yuan (including 2 million 205 thousand and 700 yuan of litigation costs); (2) provision for impairment of assets 89 million 473 thousand and 900 yuan; (3) by the market impact, the company product sales prices, resulting in gross margin decline, reduced profits.

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