Hi Sun Tech (HKG:0818) Expects to Turn into Red for 2011


Hi Sun Technology (China) Limited (HKG:0818) said that it is expected that the group will record a loss for the year ended 31 December 2011 as compared to a profit in 2010.

The expected loss was mainly attributable to i) the recognition of a gain in 2010 on the deemed disposal of the company's interest in PAX Global Technology Limited (HKG:0327) accompanied by a separate listing of PAX Global on the main board of the Stock Exchange of Hong Kong Limited on 20 December 2010; ii) a decline in operating profit of telecommunication solutions for the year ended 31 December 2011; and iii) an increase in operating loss of payment solutions of the group for the year ended 31 December 2011.

The group's final results for the year ended 31 December 2011 is expected to be announced in March 2012.



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