Greater China Precision Components Ltd.
Greater China Precision Components Ltd.: 2012 Final Results
Greater China Precision Components Ltd. / Key word(s): Final Results 30.04.2013 10:30 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 revenues are RMB 717.4Mio. (EUR 86.3 Mio.); an increase of 21.7% compared to 2011 - 2012 net profit is RMB 76.9 Mio. (EUR 9.2 Mio.); an increase of 27.3% compared to 2011 GCPC / 2012 Final Results SINGAPORE/HUIZHOU, 30 April, 2013: GCPC (ISIN SG9999005052 / WKN A0MZS3 / Ticker 49G) publishes final report of 2012 and outlook for 2013. GCPC achieved a 21.7% increase in sales from RMB 589.6 Mio. in 2011 to RMB 717.4 Mio. in 2012. The increase in sales was mainly attributed to the increased sales of tablet casings to an international customer. Additionally, the higher sales of mobile casings segment as well as the sales from the new touch screen segment also contributed to the overall growth in sales. Gross profit increased to RMB 194.7 Mio. in 2012 from RMB 160.9 Mio. in 2011 in line with the increase in sales. Gross profit margin remained stable at 27.1% in 2012(2011: 27.3%). In 2012, net profit achieved a 27.3% increase to RMB 76.9 Mio. compared to RMB 60.4 Mio. in 2011. The increase was in line with the overall increase in sales for 2012 For 2012, GCPC record a Basic EPS of RMB 2.97 (2011: RMB 2.33). The Board of GCPC recommends to pay a final dividend of RMB 0.42 per share (before withholding tax where applicable) for FY 2012. Outlook The markets of smart phones and tablets are expected to continue to grow in the coming year. To pursue steady growth in sales and profitability, GCPC will continue to focus on higher end products and customers. In addition to being a certified supplier to a major tablet casing customer from the United States of America, GCPC has also achieved the status of certified supplier with a world renowned mobile handset manufacturer from South Korea. Accordingly, GCPC plans to construct a new production facility on an existing vacant land at an estimated total cost of between RMB 100 to 150 million financed mainly from internal source. However, we believe that average selling price of our product offerings will decline with the increased competition in the industry. Additionally, we expect the manufacturing overheads to increase due to higher depreciation, labor cost and utilities cost. Consequently, our profit margin will reduce and the growth in net profits may be curtailed. In view of the above, GCPC expects revenue to remain at the same level as the previous year while the net profits may decline. For detailed information on GCPC please visit www.greater-cpc.com. The Board of Directors / Singapore, 30 April 2013 GCPC's key figures for 2012 at a glance (in RMB m): (Conversion rate used is 1 Euro=8.3176 RMB per 31/12/2012)2012 2011 Change % ------------------------------------------------------------------------ Sales RMB 717.4 589.6 21.7 Earnings before interest and taxes (EBIT) RMB 94.7 76.9 23.1 Net profit RMB 76.9 60.4 27.3 Basic earnings per share (EPS) RMB 2.97 2.33 27.9 Gross profit margin % 27.1 27.3 (0.7) Net profit margin % 10.7 10.2 4.9 Depreciation RMB 34.0 26.3 29.3 Capital expenditures RMB 73.3 55.7 31.6 Number of employees (Monthly Average) 3,640 3,026 20.3 Average number of shares (m) 25.8 25.9 (0.4) 2012 2011 Change % Cash & bank balances RMB 61.1 20.7 195.2 Other current assets RMB 491.3 517.5 (5.1) Non-current assets RMB 315.9 288.8 9.4 Current liabilities RMB 304.6 335.1 (9.1)*The calculation of the basic EPS for 2012 and 2011 is based on the weighted average number of ordinary shares in issue of 25,844,495 and 25,903,493, respectively. Financial Calendar - Investor conference, Frankfurt, 7 May 2013 - Annual General Meeting, Huizhou, 28 June 2013 - Half year report 2013: 3 Sept. 2013 (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. 30.04.2013 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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