Tongda Group Recorded a 30.5% Y-O-Y Growth in Turnover for the First Quarter

Apr 26, 2017 23:44 JST

Source: Tongda Group

HONG KONG, Apr 26, 2017 - (ACN Newswire) - Tongda Group Holdings Limited (the "Company", together with its subsidiaries, the "Group") (Stock Code: 698) has presented the operating position for the three months ended 31 March 2017.

Based on the unaudited consolidated management accounts of the Company for the Period, the turnover of the Company amounted to approximately HK$1,784.5 million (corresponding period in 2016: HK$1,367.7 million), representing a growth of approximately 30.5% as compared to the corresponding period of last year. The increase was mainly derived from the handset segment. Due to the increase in the contribution from two major customers and a broadened customer base, offsetting the drop in contribution from one customer, declining sales of a product near its cycle end and production volume of the new model yet to be ramped up, revenue of the handset segment was increased by 41% when compared with the corresponding period of last year.

During the Period, most of the handsets models being produced were metal casings and more than 25 models were mass produced. The major handset models included Huawei Mate 9, P10 and G9, Nova, Maimang 5, Honor 5C, Oppo R9, R9s, A37, A51 and A53, Redmi 3&4, Remi Note 3 & Note 4 and Mi Max.

In addition, the Group has successfully launched the product of water-proof handset components in 2016. During the Period, the Group continued to supply the water-proof components, and at the same time conducted research & development of new water-proof components embedded with metal materials, which will be launched in the second half of the year. The Group is also exploring opportunities for expanding its customer base and the range of products that apply the water-proof components.

Regarding the 2.5D and 3D film-decorated glass back cover, the Group has secured orders from an existing customer and mass production is expected to start next quarter. These glass back covers will be supplied with the Group's metal middle supporting frames.

About Tongda Group Holdings Limited
Tongda Group is the world's leading solutions provider of high-precision components used in smart mobile communication and consumer electronic products. The Group has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since 2000, under the Information Technology - IT Hardware category, and has been selected as a constituent stock in the Hang Seng Composite SmallCap Index, Hang Seng Broad Consumption Index, Hang Seng Global Composite Index and the MSCI Global Small Cap Indices - China Index. The group garners the DHL/SCMP Hong Kong Business Awards 2015 - Enterprise Award and has been selected to the Forbes Asia's 200 "Best Under A Billion" list in 2016. Mr. Wang Ya Nan, Chairman and CEO of the Group has been named the winner in the technology category of EY Entrepreneur of the Year China 2016.

Leveraging its leading In-Mold Lamination ("IML"), metal casing production and rubber parts business technology and first-tier customers in the PRC's robust consumer market, the Group has established a solid presence in the markets for handsets, electrical appliances and notebook computer casings and related products. The Group is dedicated to satisfying customers' needs through establishing global service networks in various regions, with strategically located production bases in Shishi city, Xiamen, Shanghai and Shenzhen, as well as R&D centres in Shanghai and Taiwan.

For press enquiries
Strategic Financial Relations Limited
Vicky Lee Tel: 2864 4834 Email: vicky.lee@sprg.com.hk
Angela Ng Tel: 2864 4855 Email: angela.ng@sprg.com.hk
Angela Wong Tel: 2114 4953 Email: angela.wong@sprg.com.hk
Fax: 2527 1196

Source: Tongda Group
Sectors: Daily Finance, Daily News