Greater China Precision Components Ltd.
Greater China Precision Components Ltd.: 2013 First Half Year Financial Results
Greater China Precision Components Ltd. / Key word(s): Half Year Results 03.09.2013 18:15 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 First Half Year Financial Results: - Revenue RMB 252.0 Mio. (EUR 31.3 Mio.) - Net profit RMB 8.3 Mio. (EUR 1.04 Mio.) GCPC / 2013 First Half Year Financial Results SINGAPORE/HUIZHOU, 3 September, 2013: GCPC (ISIN SG9999005052 / WKN A0MZS3 / Ticker 49G) publishes first half year report of 2013 and outlook for 2013. GCPC achieved sales revenue of 252.0 Mio in 1H13(1H12: RMB 304.8 Mio). The decrease was mainly attributed to the decrease in orders from customers of both mobile handset and tablet casings segments. This is partially offset by the increase in sales from the touch screen segment. Gross profit and gross profit margin were RMB 48.6 Mio. (1H12: RMB 73.1 Mio.) and 19.2% (1H11: 24.0%)respectively. The decrease in gross profit margin was mainly attributed to the decrease in revenue from tablet casings segment which has higher profit margin. The gross profit margin is expected to remain under pressure due to higher competition in this industry. Net profit was RMB 8.3 Mio (1H12: RMB 37.5 Milo.). The decrease in net profit was mainly due to lower revenue, lower gross profit margin and higher operating cost especially labor related expenses. GCPC recorded an interim EPS of RMB 0.32(1H12: RMB 1.45). Outlook Increasing competition in the industry will continue to put pressure on the gross profit margin. GCPC expects the full year revenue and net profit to be lower than the previous year. For detailed information on GCPC please visit www.greater-cpc.com. The Board of Directors / Singapore, 3 September 2013 GCPC's key figures for 2013 H1 at a glance (in RMB Mio.): (conversion rate used is 1 RMB=0.1242 EUR per 28/06/2013)1H13 1H12 Change % -------------------------------------------------- ------- ------- ------ Sales RMB 252.0 304.8 (17.3) Earnings before interest and taxes (EBIT) RMB 13.3 46.2 (71.2) Net Profit RMB 8.3 37.5 (77.9) Basic earnings per share (EPS) RMB 0.32* 1.45* (77.9) Gross profit margin % 19.2 24.0 (20.0) Net profit margin % 3.3 12.3 (73.2) Depreciation RMB 18.2 16.0 13.8 Capital expenditures RMB 29.4 50.5 (41.8) Number of employees (average) 3109 3,284 (5.3) Average number of shares (million) 25.8 25.8 0.0 1H13 2H12 Change % Cash & bank balances RMB 118.0 61.1 93.1 Other current assets RMB 410.5 491.4 (16.5) Non-Current Assets RMB 323.8 315.9 2.5 Current liabilities RMB 295.1 304.6 (3.1)*The calculation of the basic EPS for 1H12 and 1H13 is based on the weighted average number of ordinary shares in issue of 25,844,495 and 25,844,495, respectively. Financial Calendar - Half year report 2013: 31 August 2012 (www.greater-cpc.com) - Annual report 2013: April 2014 - Investor conference, Frankfurt, May 2013 - Annual General Meeting, Huizhou, June, 2014 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. 03.09.2013 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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