Hengtong 6 month revenue hit a new high record of up to RMB 11.413 billion

Hengtong 6 month revenue hit a new high record of up to RMB 11.413 billion

SUZHOU, China, Sept. 25, 2017 /PRNewswire/ -- Hengtong Optic-Electric (600487.SH), a global information and energy network service provider, released that the revenue of the first half of 2017 hit a new high record of up to RMB 11.413 billion in late of August 29 as one of the listed companies of Hengtong Group. The net profit for attributable shareholders increased 100.67% to RMB 767 million and doubled the net profit based on the revenue increase of 41.81%. Basic earnings per share increased to RMB 0.62.

The increasing is mainly powered by growth in 5G business, UHV cable business, EPC business, marine engineering and equipment.

- 5G service promoted the optical communications business

Hengtong Optic-Electric was the main supplier in the tender from China Unicom offering optical fiber and optical cable used in 5G, with the centralized purchasing price increasing by nearly 20%.

- UHV cable builds a new national business

Hengtong Optic-electric carried the Changji-Guquan ±1100kV UHV DC transmission line of the highest voltage level, maximum transmission capacity, and longest distance at that time which contributed to Hengtong's UHV business.

- Rapid development of EPC business

Hengtong Optic-Electric's EPC business was rapidly developing in the first half year, with the EPC communication business entered into the 29 provincial administrative regions, the market size continues growing up.

- Marine engineering and equipment industry

Hengtong Optic-Electric set up a new subsidiary company, Hengtong Marine Equipment Company during the reporting period and Tongji University jointly developed submarine core products such as main base station, secondary connection box.

About Hengtong Optic-Electric

Hengtong Optic-Electric is a global information and energy network service provider offering various kinds of wire and cables products and services including fibre-optic, power cable, marine cable etc. 

As one of the listed companies of Hengtong Group, with over 20 years of development Hengtong Optic-Electric now grows to have 10 manufacturing facilities based in China, Europe, South America, South Africa, South Asia and Southeast Asia. As well as sales offices in over 30 countries and regions around the world the company supplies products and services to over 120 countries.

Committing to innovation and social responsibility is at the heart of Hengtong - Hengtong is implementing and transforming to intelligent manufacturing to be one of the most advanced cable manufacturers in the world.

More information about Hengtong:
http://www.hengtonggroup.com/en/

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