Greater China Precision Components Ltd.

  • WKN: A0MZS3
  • ISIN: SG9999005052
  • Land: Singapore

Nachricht vom 09.09.2014 | 12:20

Greater China Precision Components Ltd.: 2014 First Half Year Financial Results


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

09.09.2014 / 12:20

---------------------------------------------------------------------

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.

As such, whilst the performance of GCPC in 1H14 was better than 1H13, the
outlook for the full year performance remain challenging.

Reminder

GCPC had been approved for the termination of inclusion of Entry Standard
Market of Frankfurt Stock Exchange by Deutsche Börse AG on 8 August, 2014.
The inclusion of the shares will end on 30 September, 2014. For more
information, please refer to our announcements dated 09 August, 2014 and 14
August, 2014.

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

The Board of Directors / Singapore, 09 September 2014

GCPC's key figures for 2014 H1 at a glance (in RMB Mio.):
(conversion rate used is 1 RMB=0.1191 EUR per 30/06/2014) 

                                                    1H14    1H13  Change %
-------------------------------------------------- ------- ------- ------
Sales                                           RMB  374.4   252.0   48.5
Earnings before interest and taxes (EBIT)       RMB   18.0    13.3   35.3
Net profit                                      RMB   14.5     8.3   74.6
Basic earnings per share (EPS)                  RMB   0.56*   0.32*    75

Gross profit margin                             %     18.3    19.2  (4.69)
Net profit margin                               %      3.9     3.3   18.2
Depreciation                                    RMB   20.6    18.2   13.2
Capital expenditures                            RMB   29.9    10.7  179.4

Number of employees (average)                         3425    3109   10.1
Average number of shares (million)                    25.8    25.8    0.0

                                                     1H14    2H13 Change %

Cash & bank balances                            RMB   76.1    68.1   11.7
Other current assets                            RMB  559.1   743.8  (24.8)
Non-Current Assets                              RMB  461.8   439.8      5
Current liabilities                             RMB  386.7   563.1  (31.3)
 
*The calculation of the basic EPS for 1H13 and 1H14 is based on the weighted average number of ordinary shares in issue of 25,844,495 and 25,844,495, respectively. Financial Calendar - Termination of Inclusion in Entry Standard Market of Frankfurt Stock Exchange: 30 September 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 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. --------------------------------------------------------------------- 09.09.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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 News DGAP News-Service --------------------------------------------------------------------- 286179 09.09.2014

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