DGAP-News: Greater China Precision Components Ltd.: 2010 First Half Year Financial Results
(firmenpresse) - Greater China Precision Components Ltd. / Half Year Results
01.09.2010 18:21
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
GCPC Greater China Precision Components Ltd.
2010 First Half Year Financial Results:
- Revenues RMB 150.3 Mio. (EUR 18.2 Mio.)
- Net profit RMB 12.0 Mio. (EUR 1.5 Mio.)
GCPC / 2010 First Half Year Financial Results
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.
SINGAPORE/HUIZHOU, 30 August, 2010: GCPC (ISIN SG9999005052 / WKN A0MZS3 /
Ticker 49G) publishes first half year report of 2010 and outlook for 2010.
GCPC achieved a sales increase of 63.4% from RMB 92.0 Mio in 1H09 to RMB
150.3 Mio in 1H10. The increase can be attributed to a higher sales volume
from existing customers, although the average selling price has decreased
during this period.
Gross profit and gross profit margins were RMB 31.9 Mio. (1H09: RMB 26.2
Mio.) and 21.2% (1H09: 28.5%)respectively. The decrease in gross profit
margins was mainly due to the decrease in average selling prices and an
increase in labor costs.
Net profit was RMB 12.0 Mio (1H09: RMB 13.3 Mio.).
GCPC has reached interim EPS of RMB 0.45 (1H09: RMB 0.50).
Outlook
The intense competition within the handset industry is expected to continue
to put pressures on average selling prices. Coupled with rising labor
costs, GCPC expects gross margins to decline further. Going forward, GCPC
will adjust its product mix to focus more on middle to high end products in
order to alleviate the pressure of falling average selling prices. In
addition, to contain production costs and to increase productivity, GCPC
will undertake new measures such as improvements to the production process
and an increase in automation.
GCPC expects the globalization efforts of the local handset vendors to have
a positive impact on GCPC's revenues going forward. In addition, GCPC's
on-going pursuit is trying to establish direct working relationships with
international vendors and to extend its product offerings to customers
beyond the handset industry as part of customer base diversification.
Despite the still uncertain global economic environment, GCPC remains
cautiously optimistic that revenue for 2010 will exceed that of 2009.
However, GCPC expects a lower gross margin to put pressure on the overall
profitability for 2010 as compared to 2009.
For detailed information on GCPC please visit www.greater-cpc.com.
The Board of Directors / Singapore, 30 August 2010
GCPC's key figures for 2010 H1 at a glance (in RMB Mio.):
(Conversion rate used is 1 RMB=0.1209 EUR per 30/06/2010)
H110 H109 Change %*The calculation of the basic EPS for 1H10 and 1H09 is based on the
Sales RMB 150.3 92.0 63.4
Earnings before interest and
taxes (EBIT) RMB 15.6 15.4 1.3
Net profit RMB 11.9 13.3 -10.5
Basic earnings per share (EPS) RMB 0.45* 0.50* -10.0%
Gross profit margin % 21.2 28.5 -25.6
Net profit margin% 7.9 14.5 -45.5
Depreciation RMB 9.9 5.8 70.7
Capital expenditures RMB 20.3 54.1 -62.5
Number of employees (average) 2,500 1,850 35.1
Average number of shares (million) 26.4 26.5 -0.4
1H10 H209 Change %
Cash&cash equivalents RMB 36.6 30.5 20.0
Other current assets RMB 245.6 249.7 -1.6
Fixed Assets RMB 254.6 251.3 1.3
Current liabilities RMB 118.0 115.1 2.5
weighted average number of ordinary shares in issue of 26,357,667 and
26,547,838, respectively.
Financial Calendar
- Investor conference, Frankfurt, November 2010
- Annual report 2010: May 2011
Forward-looking statements:
This press release contains statements about future developments that are
based on currently available information and may involve risks and
uncertainties, the result of which may be that the actual results differ
from the forward-looking statements. Statements about future developments
must not be understood as guarantees. Future developments and results
rather depend on a variety of factors, they contain various risks and
imponderabilities and are based on assumptions that might turn out to be
incorrect. For example, these include unforeseeable changes of the general
political, economic, and social conditions.
About GCPC
GCPC (www.greater-cpc.com; ISIN: SG9999005052, Ticker: 49G) is one of the
leading one-stop providers of mobile handset casings in China. GCPC's
primary business is the manufacturing of spray painted mobile handset
casings. As a one-stop service provider, GCPC provides its customers with
services, such as product design development, molding and prototyping, raw
materials and components procurement, plastic injection, spray painting and
assembling services. Substantially all of its products are sold to
customers that are based in China, including electronics manufacturing
service providers, or EMS for international brands of mobile handset
original equipment manufacturers (OEMs). GCPC does not manufacture products
under its own brand. GCPC operates its business primarily through its
subsidiary, Green Precision Components (Huizhou) Co., Ltd in Huizhou City,
Guangdong Province, China.
01.09.2010 18:21 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Greater China Precision Components Ltd.
7 Temasek Boulevard #13-02 Suntec Tower One
038987 Singapur
Singapur
Phone: +65 6339 9866
Fax: +65 6332 1169
E-mail: investor(at)greater-cpc.com
Internet: www.greater-cpc.com
ISIN: SG9999005052
WKN: A0MZS3
Listed: Freiverkehr in Hamburg, Berlin, Düsseldorf, Stuttgart; Open
Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
---------------------------------------------------------------------------Unternehmensinformation / Kurzprofil:
Datum: 01.09.2010 - 18:21 Uhr
Sprache: Deutsch
News-ID 32132
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 212 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Greater China Precision Components Ltd.: 2010 First Half Year Financial Results"
steht unter der journalistisch-redaktionellen Verantwortung von
Greater China Precision Components Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
