Greater China Precision Components Ltd.
Greater China Precision Components Ltd.: 2013 Final Results
Greater China Precision Components Ltd. / Key word(s): Final Results 30.04.2014 15:54 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- GCPC Greater China Precision Components Ltd. - 2013 revenues are RMB 886.3 Mio. (EUR 105.3 Mio.); an increase of 23.5% compared to 2012 - 2013 net profit is RMB 69.6 Mio. (EUR 8.3 Mio.); a decrease of 9.5% compared to 2012 GCPC / 2013 Final 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, 29 April, 2014: GCPC (ISIN SG9999005052 / WKN A0MZS3 / Ticker 49G) publishes final report of 2013 and outlook for 2014. GCPC achieved a 23.5% increase in sales from RMB 717.4 Mio. in 2012 to RMB 886.3 Mio. in 2013. The increase is attributed to higher sales across all product lines. Gross profit increased to RMB 246.3 Mio. in 2013 from RMB 194.7 Mio. in 2012 in line with higher sales. Gross profit margin remained relatively stable at 27.8% in 2013(2012: 27.1%). In 2013, net profit was RMB 70.9 Mio., which decreased 7.8% compared to RMB 76.9 Mio. in 2012. The decrease was mainly due to the increase in the administration cost. The increase in administration cost was mainly attributed to higher technical development and upgrading expenses incurred during the year. For 2013, GCPC record a Basic EPS of RMB 2.74 (2012: RMB 2.98). After considering the cash flow requirements of the Group over the foreseeable future, the Board of GCPC does not recommend any dividend for FY 2013. Outlook The markets of smart phones and tablets are expected to continue to grow in the coming year. However, we believe that average selling price and gross profit margin of our product offerings will decline with the increased competition in the industry. Moreover, the increasing acceptance of metal casings for phones and tablets is expected to pose a challenge to our current product offerings which are predominantly plastic casing. The planned new production facility has commenced and the construction will be completed by the end of 2014. The investment structure of the acquisition of Yuanfa Mining Co. Limited (YMCL) will be completed in May, 2014. Accordingly, YMCL will be consolidated and it is expected to have an impact to the group's financial statements in FY 2014. In view of the above, GCPC expects revenue to remain at the same level as the previous year. However, net profits is expected to be lower as compared to the previous year. For detailed information on GCPC please visit www.greater-cpc.com. The Board of Directors / Singapore, 29 April 2014 GCPC's key figures for 2013 at a glance (in RMB m): (Conversion rate used is 1 Euro=8.4189 RMB per 31/12/2013)2013 2012 Change % -------------------------------------------------- ------- ------- ------ Sales RMB 886.3 717.4 23.5 Earnings before interest and taxes (EBIT) RMB 97.7 94.7 3.2 Net profit RMB 70.9 76.9 (7.8) Basic earnings per share (EPS) RMB 2.74 2.98 (8.1) Gross profit margin % 27.8 27.1 2.6 Net profit margin % 8.0 10.7 26.2 Depreciation RMB 38.7 34.0 13.8 Capital expenditures RMB 69.4 73.3 (5.3) Number of employees (Monthly Average) 4,060 3,640 11.5 Average number of shares (m) 25.8 25.8 0.0 2013 2012 Change % Cash & bank balances RMB 68.1 61.1 11.5 Other current assets RMB 675.7 491.3 37.5 Non-current assets RMB 439.8 315.9 39.2 Current liabilities RMB 563.1 304.6 84.9*The calculation of the basic EPS for 2013 and 2012 is based on the weighted average number of ordinary shares in issue of 25,844,495 and 25,844,495, respectively. Financial Calendar - Investor conference, Frankfurt, 6 May 2014 - Annual General Meeting, Huizhou, 28 June 2014 - Half year report 2014: 2 Sept. 2014 (www.greater-cpc.com) 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 and fast growing one-stop providers of mobile handset and tablet components in China. 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. GCPC also provides other components such as touch panel to its customers. Substantially all of its products are sold to customers with domestic and international brands directly or through electronics manufacturing service providers. 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. 30.04.2014 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; Frankfurt in Open Market (Entry Standard) End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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