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Financial Highlights：
Ø Total revenue was approximately RMB4,640.1 million, increased by approximately RMB962.4 million, representing a 26.2% increase as compared to the same period of last year.
Ø Gross profit was approximately RMB1,235.3 million, increased by approximately RMB428.0 million, representing a 53.0% increase as compared to the same period of last year.
Ø Profit for the period attributable to equity shareholders of the Company was
approximately RMB565.1 million, increased by approximately RMB210.6 million, representing a 59.4% increase as compared to the same period of last year.
Ø The Group’s revenue from domestic customers increased by approximately 24.0%, as compared with the same period of last year. The Group’s overseas revenue from overseas customers increased by approximately 46.1%, as compared with the same period of last year.
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(August 18, 2017 – Hong Kong)Yangtze Optical Fibre and Cable Joint Stock Limited Company (“YOFC” or “the Company”, stock code: 6869) is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (the “Group”) for the six months ended 30 June 2017(the “Period”).
Being one of the global leading optical fibre preform, optical fibre and optical fibre cable suppliers, the Group’s revenue reached approximately RMB4,640.1 million during the Period, increased by approximately26.2% compared with the corresponding period of 2016. The Group’s gross profit amounted to approximately RMB1,235.3 million, showing a significant increase of 53%; and the gross profit margin slightly increased from 22.0% during the first half of 2016 to 26.6% during the first half of 2017 . The increase in gross profit margin was mainly due to the changes in sales structure and the increase in average selling price of optical fibre preforms, optical fibres and optical cables from the fourth quarter of 2015. The Group’s profit for the Period attributable to the equity shareholders of the Company amounted to approximately RMB565.1 million, representing an increase of 59.4% over the corresponding period of last year.
By product segment, revenue of approximately RMB2,247.7 million was contributed from the Group’s optical fibre preform and optical fibre segment, representing a growth of 16.5% as compared to the same period of 2016 of approximately RMB1,929.2 million and accounting for 48.4% of the Group’s total revenue; while revenue of RMB2,126.3 million was contributed from the optical fibre cable segment, representing a growth of 35.1% as compared to the same period of 2016 of approximately RMB1,574.2 million and accounting for 45.8% of the Group’s total revenue. The substantial growth in the Group’s total revenue was mainly due to the ramp up of 4G infrastructure construction by the Three State-owned Telecommunications Operators and the ongoing national initiatives such as “Broadband China”, “Internet plus” announced by the PRC government, which provide positive catalysts and bring in additional momentum, in particular, the demand for optical fibres and optical fibre cables.
The Group has recorded increased revenue from both domestic and overseas markets.By geographical segment, revenue of approximately RMB4,117.9 million was from customers in the PRC, representing an increase of 24.0% as compared to the same period of 2016 and accounting for 88.7% of the Group’s total revenue, while revenue of approximately RMB522.2 million was from customers in overseas, representing an increase of 46.1% as compared to the same period of 2016. The increase in oversea sales was mainly driven by the increase of optical cables and indoor wiring, mainly from the Company continued to steadily implement the internationalization strategy.
The Company has submitted its application in respect of the proposed A share offering to the CSRC, and the CSRC has officially accepted the application for further review. The proposed A share offering is expected to raise the overall competitiveness of the Company and strengthen the capability of the Company in terms of sustainable development. The Company will update the shareholders and investors on the progress of the proposed A share offering from time to time by way of disclosure in announcements and periodic reports pursuant to the applicable PRC laws, regulations and regulatory requirements as well as the requirements under the Hong Kong Listing Rules.
Looking into the future, centering on the strategic goal of “Becoming Global No.1 and Industrial Leader”, the company will push forward intensive growth of its optical fibre preforms, optical fibre and optical cables businesses, enhance technological innovation and intelligent manufacturing, intensify international strategy, actively exploit diversified development, improve capital operation, create more value for shareholders and client focus, and strive to develop itself into the leader in information transmission and smart links in the world.
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About Yangtze Optical Fibre and Cable Joint Stock Limited Company
Yangtze Optical Fibre and Cable Joint Stock Limited Company (“YOFC” or the “Company”, Stock code: 6869) is a leading optical fibre preforms, optical fibres and optical fibre cables supplier in the world with over 29 years of operational experience. The Company primarily manufactures and sells optical fibre preforms, optical fibres and optical fibre cables, including specialty optical fibres and cables, as well as optical distribution and connection products, data center cabling products and production machinery. The Company’s products are sold to customers in China and overseas. The Company successfully listed on main board of HKEX on December 10th 2014.
This press release is issued by Wonderful Sky Financial Group Holdings Ltd. on behalf of Yangtze Optical Fibre and Cable Joint Stock Limited Company.
Any enquiry, please contact:
Wonderful Sky Financial Group Holdings Limited
Nicole Liu/ Coco He/Jacqueline Wong
Tel: 3970 2298 / 3641 1320 /3970 2177
Email: yofc@wsfg.hk/ po@wsfg.hk
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