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Last $1.40 HKD
Change Today -0.02 / -1.41%
Volume 440.0K
As of 9:56 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

fortunet e-commerce group lt (1039) Snapshot

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52 Week High
06/11/15 - $2.77
52 Week Low
08/29/14 - $0.37
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Current Stock Chart for FORTUNET E-COMMERCE GROUP LT (1039)

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fortunet e-commerce group lt (1039) Details

Fortunet e-Commerce Group Limited, an investment holding company, manufactures and sells axle and related components for medium and heavy duty truck aftermarkets and original equipment manufacturers (OEM) markets in the People’s Republic of China. The company operates through three segments: OEM and Related Market, Aftermarket, and Train and Railway Business. Its axle components comprise cast steel and punched steel axle housings, brake drums, axle shafts, axle differentials and reductors, steering knuckles, and front axle beams; and a range of front, middle, and rear axle assemblies and suspension assemblies. The company also manufactures and sells roughcasts and gears; and train bolsters, train side frames, and related train components. It also exports train side frames and train bolsters. The company was formerly known as Changfeng Axle (China) Company Limited and changed its name to Fortunet e-Commerce Group Limited in June 2015. The company was founded in 2001 and is based in Sha Tin, Hong Kong. Fortunet e-Commerce Group Limited is a subsidiary of Changfeng Axle Holdings Ltd.

950 Employees
Last Reported Date: 04/17/15
Founded in 2001

fortunet e-commerce group lt (1039) Top Compensated Officers

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Executives, Board Directors

fortunet e-commerce group lt (1039) Key Developments

Fortunet e-Commerce Group Limited Announces Auditor Changes

The board of directors of Fortunet e-Commerce Group Limited announced that Deloitte Touche Tohmatsu has resigned as auditor of the company with effect from 17 July 2015. The Board further announced that KPMG has been appointed as the new auditor of the company with effect from 17 July 2015 to fill the casual vacancy following the resignation of Deloitte. KPMG shall hold office until the conclusion of the next annual general meeting of the company.

Fortunet e-Commerce Group Limited, Special/Extraordinary Shareholders Meeting, Jul 22, 2015

Fortunet e-Commerce Group Limited, Special/Extraordinary Shareholders Meeting, Jul 22, 2015., at 11:00 China Standard Time. Location: Suites 903-905, 9th Floor, Shui On Centre. Agenda: To approve loan agreement pursuant to which the company conditionally agreed to advance an unsecured loan of an aggregate amount of not more than $22 million to century network.

Fortunet e-Commerce Group Limited Provides Earnings Guidance for the Six Months Ending June 30, 2015

Based on the preliminary assessment by the Group's management and the unaudited consolidated management accounts of the Group for five months to 31 May 2015 and current order book on hand, the board of directors of Fortunet e-Commerce Group Limited informed the shareholders of the company and potential investors that the Group's loss attributable to owners of the company for the six months ending 30 June 2015 is presently anticipated to increase significantly as compared to that for the six months ending 30 June 2014. Such increase in losses for the six months ending 30 June 2015 was mainly attributable to a decrease of not less than 30% in the revenue of the Group generated from the car component business for the six months ending 30 June 2015 as compared to the same period last year and the impairment of assets, including property, plant and equipment and inventories, related to the train and railway business of approximately RMB 250 million.


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Price/Sales 2.6x
Price/Book 1.3x
Price/Cash Flow NM Not Meaningful
TEV/Sales 4.0x

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