China Meidong Auto Holdings Limited
[MeiDong Auto 1268.HK] 2017 Annual Results Positive Profit Alert Substantial Increase of Over 60% in Consolidated Profit Attributable to Equity Holders
【For Immediate Release】 5 February 2018
China MeiDong Auto Holdings Limited 2017 Annual Results Positive Profit Alert
For delivering such remarkable results, Mr. Ye Tao, Chief Executive Officer and Executive Director of China MeiDong Auto Holdings Limited, said, “2017 had been a promising year after the inflection point in 2016. In line with our expectation, the strong momentum continued throughout the past year was driven by the improved supply and demand balance and strong product cycles of our brands, in particular the luxury brands. Under the current favorable trends of the industry, leveraging on our expansion strategy of “single city single store”, which focuses on luxury brands in smaller cities and continuous enhancement in our management efficiency, we have high hopes regarding the Group’s performances in the year of 2018.” In terms of future development, Mr. Ye Tao continued, “The encouraging sets of results over the past years have provided a proven track record for our single city, single store expansion strategy with a focus on luxury brands. The strategy targets 2nd to 4th tier cities in China where the markets are with strong growth potential. In the future, the Group will further expand its geographical presence and continue its store expansion, supported by sufficient number of pipeline projects and a healthy balance sheet with strong cash flow. We will work aggressively to accelerate business growth and to maintain our leading position in management efficiency within the industry, with an aim to deliver fruitful results to our shareholders in the near future.” -End- Document: http://n.eqs.com/c/fncls.ssp?u=NXPRNIUFFQ Document title: 1268_ positive profit alert_press release_ eng_20180202_Final_EQS
05/02/2018 Dissemination of a Financial Press Release, transmitted by EQS Group. |