DGAP-News
Greater China Precision Components Ltd.: 2014 First Half Year Financial Results
DGAP-News: Greater China Precision Components Ltd. / Key word(s): Half
Year Results
Greater China Precision Components Ltd.: 2014 First Half Year
Financial Results
09.09.2014 / 12:20
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GCPC Greater China Precision Components Ltd.
2014 First Half Year Financial Results:
- Revenue RMB 374.4 Mio. (EUR 44.6 Mio.)
- Net profit RMB 14.5 Mio. (EUR 1.73 Mio.)
GCPC / 2014 First Half Year Financial Results
SINGAPORE/HUIZHOU, 9 September, 2014: GCPC (ISIN SG9999005052 / WKN A0MZS3
/ Ticker 49G) publishes first half year report of 2014 and outlook for
2014.
GCPC achieved sales revenue of 374.4 Mio in 1H14(1H13: RMB 252.0 Mio). The
increase was mainly attributed to the increase in orders from customers of
both mobile handset and tablet casings segments.
Gross profit and gross profit margin were RMB 68.7 Mio. (1H13: RMB 48.6
Mio.) and 18.3% (1H13: 19.2%)respectively. The decrease in gross profit
margin was mainly attributed to the increase in revenue from mobile handset
segment which has lower profit margin.
Net profit was RMB 14.5 Mio (1H13: RMB 8.3 Mio.). The increase in net
profit was mainly due to higher revenue, even with lower gross profit
margin and higher operating cost especially labor related expenses.
GCPC recorded an interim EPS of RMB 0.56(1H13: RMB 0.32).
Update of the acquisition of gold mine
Pursuant to GCPC's previous announcement on 29 April 2014, the investment
structure of the acquisition of Yuanfa Mining Co. Limited (YMCL) had been
completed in May, 2014. Accordingly, the financial results of YMCL will be
consolidated for the financial year ending FY2014.
For the purpose of 1H14, there was no consolidation in accordance with
International Financial Reporting Standards. However, the Board would like
to update shareholders that the exploration of the mine is still on-going
and the results of the progress will be updated once it is available via
the company website(www.greater-cpc.com).
Outlook
GCPC expects increasing competition in the industry will continue to put
pressure on the gross profit margin. In addition, the cessation of the
previous practice of telecommunication service providers of giving
subsidies to subscribers for their purchase of the mobile phone handsets,
coupled with the market transition of the high-end products from plastic
casings to metal casings will continue to pose challenges to the demand for
our products.
In view of the above industry changes, GCPC needs to explore product
differentiation and re-alignment to remain competitive.
GCPC Greater China Precision Components Ltd.
2014 First Half Year Financial Results:
- Revenue RMB 374.4 Mio. (EUR 44.6 Mio.)
- Net profit RMB 14.5 Mio. (EUR 1.73 Mio.)
GCPC / 2014 First Half Year Financial Results
SINGAPORE/HUIZHOU, 9 September, 2014: GCPC (ISIN SG9999005052 / WKN A0MZS3
/ Ticker 49G) publishes first half year report of 2014 and outlook for
2014.
GCPC achieved sales revenue of 374.4 Mio in 1H14(1H13: RMB 252.0 Mio). The
increase was mainly attributed to the increase in orders from customers of
both mobile handset and tablet casings segments.
Gross profit and gross profit margin were RMB 68.7 Mio. (1H13: RMB 48.6
Mio.) and 18.3% (1H13: 19.2%)respectively. The decrease in gross profit
margin was mainly attributed to the increase in revenue from mobile handset
segment which has lower profit margin.
Net profit was RMB 14.5 Mio (1H13: RMB 8.3 Mio.). The increase in net
profit was mainly due to higher revenue, even with lower gross profit
margin and higher operating cost especially labor related expenses.
GCPC recorded an interim EPS of RMB 0.56(1H13: RMB 0.32).
Update of the acquisition of gold mine
Pursuant to GCPC's previous announcement on 29 April 2014, the investment
structure of the acquisition of Yuanfa Mining Co. Limited (YMCL) had been
completed in May, 2014. Accordingly, the financial results of YMCL will be
consolidated for the financial year ending FY2014.
For the purpose of 1H14, there was no consolidation in accordance with
International Financial Reporting Standards. However, the Board would like
to update shareholders that the exploration of the mine is still on-going
and the results of the progress will be updated once it is available via
the company website(www.greater-cpc.com).
Outlook
GCPC expects increasing competition in the industry will continue to put
pressure on the gross profit margin. In addition, the cessation of the
previous practice of telecommunication service providers of giving
subsidies to subscribers for their purchase of the mobile phone handsets,
coupled with the market transition of the high-end products from plastic
casings to metal casings will continue to pose challenges to the demand for
our products.
In view of the above industry changes, GCPC needs to explore product
differentiation and re-alignment to remain competitive.
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