Greater China Precision Components Ltd.
Greater China Precision Components Ltd.: 2012 First Half Year Financial Results
Greater China Precision Components Ltd. / Key word(s): Half Year Results 31.08.2012 13:45 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. 2012 First Half Year Financial Results: - Revenue RMB 304.8 Mio. (EUR 38.7 Mio.) - Net profit RMB 37.5 Mio. (EUR 4.8 Mio.) GCPC / 2012 First Half Year Financial Results SINGAPORE/HUIZHOU, 31 August, 2012: GCPC (ISIN SG9999005052 / WKN A0MZS3 / Ticker 49G) publishes first half year report of 2012 and outlook for 2012. GCPC achieved sales increase of 96.4% from RMB 155.2 Mio in 1H11 to RMB 304.8 Mio in 1H12. The increase was mainly attributed to the new orders from tablet casings customers. The tablet casing segment had commenced business only from 2H11 and it had contributed significantly to the growth in total sales. Additionally, the increased orders from the existing mobile handset casings customers also contributed to the growth in total sales. Gross profit and gross profit margin were RMB 73.1 Mio. (1H11: RMB 26.4 Mio.) and 24.0% (1H11: 17.0%)respectively. The increase in gross profit margin was mainly attributed to the increase in revenue from higher profit margin products. The gross profit margin and gross profit had recovered since the second quarter of 2011. Net profit was RMB 37.5 Mio (1H11: RMB 332.0 Kilo.). The increase in net profit was mainly due to better gross profit margin. The reversal of provision of doubtful debts also contributed to the higher net profit. GCPC recorded an interim EPS of RMB 1.45(1H11: RMB 0.01). Outlook European debt crisis and the slowing down in the growth rate of China's economy will increase the uncertainty of the near future. However, with our continuing strategy to focusing on high end products, which have yielded good results in the first half of 2012, GCPC believes that the full year revenue and profit may be higher than those achieved in 2011. For detailed information on GCPC please visit www.greater-cpc.com. The Board of Directors / Singapore, 31 August 2012 GCPC's key figures for 2012 H1 at a glance (in RMB Mio.): (conversion rate used is 1 RMB=0.1270 EUR per 29/06/2012) 1H12 1H11 Change % ---------------------------------------------------------------------- Sales RMB 304.8 155.2 96.4 Earnings before interest and taxes (EBIT) RMB 46.2 1.6 2788 Net profit RMB 37.5 0.3 12400 Basic earnings per share (EPS) RMB 1.45* 0.01* 14400 Gross profit margin % 24.0 17.0 41.2 Net profit margin % 12.3 0.2 6050 Depreciation RMB 16.0 12.1 32.2 Capital expenditures RMB 50.5 21.2 138.2 Number of employees (average) 3284 3,000 9.5 Average number of shares (million) 25.9 26.0 -0.4 1H12 1H11 Change % Cash & cash equivalents RMB 93.4 64.8 44.1 Other current assets RMB 312.3 248.2 25.8 Non-Current Assets RMB 333.0 270.8 23.0 Current liabilities RMB 219.9 153.0 43.7*The calculation of the basic EPS for 1H11 and 1H12 is based on the weighted average number of ordinary shares in issue of 25,903,493 and 25,844,495, respectively. Financial Calendar – Half year report 2012: 31 August 2012 (www.greater-cpc.com) – Investor conference, Frankfurt, May 2013 – Annual report 2012: April 2013 – Annual General Meeting, Huizhou, June, 2013 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 precision components providers in China. GCPC’s primary business is the manufacturing of spray painted mobile handset and tablet casings. GCPC provides its customers with services, such as product design development, molding and prototyping, raw materials and components procurement, plastic injection, spray painting, assembling services and other components such as touch panel, etc. Its products are sold to both domestic and international famous brand customers. GCPC does not manufacture products under its own brand. Its main operating subsidiary is Green Precision Components (Huizhou) Co., Ltd, located in Huizhou City, Guangdong Province, China. 31.08.2012 DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de ————————————————————————— Language: English Company: Greater China Precision Components Ltd. 80 Robinson Road, #02-00 068898 Singapur Singapore Phone: +65 62363427 Fax: +65 62364399 E-mail: investor@greater-cpc.com Internet: www.greater-cpc.com ISIN: SG9999005052 WKN: A0MZS3 Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart; Open Market (Entry Standard) in Frankfurt End of Announcement DGAP News-Service —————————————————————————
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