Tongda Group records a 36.8% increase in 3Q2017 Net Sales
October 27, 2017ACN Newswire
Orders of High Volume Consumer Rise
HONG KONG, Oct 27, 2017 - (ACN Newswire) - Tongda Group Holdings Limited (the "Company", together with its subsidiaries, the "Group") (SEHK: 698) has presented the operating position for the nine months ended 30 September 2017.
Based on the unaudited consolidated management accounts of the Company for the Period, the turnover of the Company was HK$6,127 million, rose 13.7% Period-over-Period; turnover of the third quarter 2017 was HK$2,509 million, up 36.8% sequentially compared to the second quarter 2017 and up 16.8% from HK$2,148 million in the same quarter 2016.
The third quarter results reflect the positive impact of the high volume consumer ramps on the casing products, the liquid silicone rubber ("LSR") and precision molding parts. Major models produced include Redmi 4X, Redmi NOTE5 and Mi MAX 2 from Xiaomi as well as NOVA2, NOVA2 PLUS, Honor 9, MATE9, P10 and Maimang 5 from Huawei. The Group already possessed the technology and production capacity for one-stop production of 3D glass casings. During the Period, orders of glass casing from ASUS and Moto were received. The revenues derived from sales to the top five customers during the Period amounted to approximately HK$3,886 million, which represented approximately 63%, of the total revenue (2016: HK$3,542 million, represented 66% of the total revenue).
Mr. Wang Ya Nan, Chairman and CEO of Tongda Group, said, "Looking ahead, the Group is optimistic about the business prospects for the fourth quarter."
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.
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