Sino International Logistics Company N. V.
Sino International Logistics Company N. V.: SILC N.V.’s subsidiary Shanghai Haohai Management Co., Ltd reduces forecast for 2008
Sino International Logistic Company N.V. / Change in Forecast/Profit Warning Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Maastricht, November 11, 2008 – Sino International Logistic Company N.V. (SILC N.V.) hereby announces that, based on the company’s business development until the end of October 2008 and the negative impact of the deteriorating global economic environment on the Chinese economy, its 100% subsidiary Shanghai Haohai Enterprise Management Co., Ltd. (SHEMC) had to reduce its forecast for the fiscal year 2008. SHEMC now expects to generate revenues of RMB 34.3m (EUR 3.9m) and an operating profit (EBIT) of RMB 15.0m (EUR 1.7m). While the business development in the period from July to September went according to plan, the October figures showed a significant slowdown of business activities and expectations for the rest of the year give little hope for improvement. Thus, SHEMC had to adjust its forecast to the new business environment. As the Chinese economy is highly dependent on export activities, the current downturn of the global economy already leaves its mark on China’s growth rates and also on the Chinese logistics business which, of course, is directly harmed by a slowing down economy. The Chinese government has already announced a large (about USD 600bn) economic expansion program to counteract the economic downturn and SHEMC is confident that this will also benefit the logistics sector in China. Please note that the original reporting currency of SHEMC is RMB. The outline of the figures in EUR is only for the readers’ convenience and the applied exchange rate may differ over time. For further information on SILC N.V. please refer to the company’s website www.silc-nv.com or contact our investor relations team directly: Corporate Communication Sino International Logistic Company N.V. Germany T: +49-89-24 41 18-414 F: +49-89-24 41 18-499 E: ir@silc-nv.com About SILC N.V. (Sino International Logistic Company N.V) Sino International Logistic Company N.V. is a Dutch-based holding company that focuses on investments and the operation of logistics business throughout China. The company strives to become a multi-function logistics company by providing a comprehensive logistics services portfolio. 11.11.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Sino International Logistic Company N.V. Kruisdonk 66 6222 PH Maastricht Niederlande Phone: - Fax: - E-mail: kirstin.thon@theascendogroup.com Internet: www.silcglobal.com ISIN: NL0000871044 WKN: A0MR5W Listed: Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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