Rizhao Port (600017. SH) today issued a notice that the company's interim performance forecast revision, the original forecast increased by more than 50%, now revised up to 30% above. In the same period last year, the company's net profit was 175 million yuan, earning 0.1162 yuan per share. The company said there were three reasons for the discrepancy with previous performance forecasts: First, the net profit in the first half of 2009 was changed by the accounting standards; second, the company appropriately extended some of the iron and steel enterprises and ore traders accounts receivable settlement cycle, resulting in the end of accounts receivable than at the beginning of the larger increase in the provision of bad debts to increase; third, Ore storage increased rapidly, resulting in a rise in the cost of handling the company.
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