Jetion - an awful announcement this morning!
They might produce high performance solar cells but communication is distinctly low performance – a further illustration of the risks associated with investing in the shares of China based small caps!
Having announced in January that they would meet market expectations Jetion has now issued a trading update stating that profit before tax is now expected to be reduced by approximately US$5 million and that profit before tax will be below market expectations - but not below US$20 million!
Despite the seemingly lowly valuation (c3x December 2008 numbers, haven’t a clue now for 2009!) management’s credibility is surely destroyed with today’s statement.
Management confirmed that…
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