GCPC / 2011 First Half Year Financial Results

Greater China Precision Components Ltd. / Key word(s): Half Year
Results

02.09.2011 / 18:35

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GCPC Greater China Precision Components Ltd.

2011 First Half Year Financial Results: 
  - Revenues RMB 155.2 Mio. (EUR 16.6 Mio.)
  - Net profit RMB 332 Kilo. (EUR 0.035 Mio.)

GCPC / 2011 First Half Year Financial Results

SINGAPORE/HUIZHOU, 2 September, 2011: GCPC (ISIN SG9999005052 / WKN A0MZS3
/ Ticker 49G) publishes first half year report of 2011 and outlook for
2011.

GCPC achieved sales increase of 3.3% from RMB 150.3 Mio in 1H10 to RMB
155.2 Mio in 1H11. The increase was mainly attributed to the introduction
of tablet casings as our new product as well as sales to new customers in
the second quarter of 2011. This was partially offset by the decrease in
sales from existing customers.

Gross profit and gross profit margin were RMB 26.4 Mio. (1H10: RMB 31.9
Mio.) and 17.0% (1H10: 21.2%)respectively. The decrease in gross profit
margin was mainly due to the decrease in average selling price   and volume
from our existing customers and increase in manufacturing cost for the
first half of 2011. However, the gross profit margin and gross profit
improved in the second quarter of 2011 with the introduction of new product
which commanded better margin.

Net profit was RMB 0.33 Mio (1H10: RMB 12.0 Mio.). The decrease in net
profit was mainly due to a reduction in gross profits as well as impairment
of fair value of financial assets. GCPC recorded an interim EPS of RMB 0.01
(1H10: RMB 0.45).

Outlook

The introduction of tablet casings as our new product in the second quarter
of 2011 is expected to contribute positively to sales and profits for the
second half of 2011. In addition, we are in the process of evaluating the
feasibility of producing touch screen for hand-held devices in response to
market demands.

For detailed information on GCPC please visit www.greater-cpc.com.

The Board of Directors / Singapore, 2 September 2011

 GCPC's key figures for 2011 H1 at a glance (in RMB Mio.):
(conversion rate used is 1 RMB=0.1068 EUR per 30/06/2011) 

                                                   1H11   1H10   Change %
-----------------------------------------------  -------  ------- ------
Sales                                           RMB 155.2  150.3     3.3
Earnings before interest and taxes (EBIT)       RMB   1.6   15.6   -89.7
Net profit                                      RMB   0.3   12.0   -97.5
Basic earnings per share (EPS)                  RMB 0.01*  0.45*   -97.8

Gross profit margin                              %  17.0    21.2   -19.8
Net profit margin                                %   0.2     8.0   -97.5
Depreciation                                    RMB 12.7     9.9    28.3
Capital expenditures                            RMB 21.2    20.3     4.4

Number of employees (30 June)                      3,000   2,500    20.0
Average number of shares (million)                  26.0    26.4    -1.5

                                                300611   311210  Change %

Cash & cash equivalents                        RMB  64.8    43.0    50.7
Other current assets                           RMB 248.2   222.1    11.8
Fixed Assets                                   RMB 270.8   260.4     4.0
Current liabilities                            RMB 153.0    86.0    77.9
 


*The calculation of the basic EPS for 1H11 and 1H10 is based on the
weighted average number of ordinary shares in issue of 25,962,918 and
26,357,667, respectively.

Financial Calendar
- Half year report 2011: 2 September 2011 (www.greater-cpc.com)
- Investor conference, Frankfurt, May 2012
- Annual report 2011:  April 2012
- Annual General Meeting, Huizhou, June, 2012

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. Its products are sold to customers that are based in
China and overseas, including electronics manufacturing service providers,
or EMS for international brands of mobile handset original equipment
manufacturers (OEMs). The sales to international brands grow substantially
in the first half of 2011. GCPC does not manufacture products under its own
brand. GCPC operates its business primarily through its subsidiary, Huizhou
Green Plastic Electronic Co., Ltd in Huizhou City, Guangdong Province,
China.


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Language:    English                                                 
Company:     Greater China Precision Components Ltd.                 
             7 Temasek Boulevard #13-02 Suntec Tower One             
             038987 Singapur                                         
             Singapore                                               
Phone:       +65 6339 9866                                           
Fax:         +65 6332 1169                                           
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               
 
 
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