ETI Projects Losses Incurred from Operations Near RMB 100M in 4Q16

ETI forecasted losses incurred from operations would peak to RMB 100 million for the fourth quarter of 2016, stated the company in a press release.

Undergoing a massive restructure, ETI’s export revenue amounted to more than 50%. The fourth quarter is typically the low season for the company because of Thanksgiving and Christmas holiday celebrations in U.S. and Europe.

Moreover, clients have demanded product price adjustments caused by substantial depreciation of the Chinese Yuan during second half of the year, which further impacted the company’s gross margin.

Initial accounting results during fourth quarter indicate the company’s losses incurred from operation losses reached RMB 100 million.

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