Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Wednesday, 31 August 2016, 10:38 HKT/SGT
Huazhong In-Vehicle Holdings Company Limited Announces 2016 Interim Results

HONG KONG, Aug 31, 2016 - (ACN Newswire) - Huazhong In-vehicle Holdings Company Limited ("Huazhong" or the "Company", stock code: 6830) and its subsidiaries (collectively, the "Group") announced today its unaudited condensed consolidated financial results for the six months ended 30 June 2016.

For the six months ended 30 June 2016, the Group's revenue was approximately RMB806,173,000, representing an increase of approximately 5.2% as compared to approximately RMB766,550,000 for the six months ended 30 June 2015. Profit attributable to the owners of the parent for the six months ended 30 June 2016 was approximately RMB34,721,000, representing an increase of approximately 18.9% as compared to RMB29,211,000 for the six months ended 30 June 2015.

Mr. Zhou Minfeng, the Chairman of the Board, re-affirmed that maximization of shareholder value, whilst adhering to the highest standards of corporate governance, will always remain our top priority.

Business Review

During the reporting period, the Group's revenue increased by 5.2% as compared to the corresponding period in 2015 due to the expansion of new market and customers and effective cost control measures. The revenue of the Group was primarily derived from five categories of products: (i) automotive interior and exterior structural and decorative parts (with revenue of RMB607,286,000, accounting for 75.3% of the Group's total revenue); (ii) moulds and tooling (with revenue of RMB39,874,000, accounting for 4.9% of the Group's total revenue); (iii) casings and liquid tanks of air conditioners and heaters (with revenue of RMB89,119,000, accounting for 11.1% of the Group's total revenue); (iv) non-automotive products (with revenue of RMB37,691,000, accounting for 4.7% of the Group's total revenue); and (v) sale of raw materials (with revenue of RMB32,203,000, accounting for 4% of the Group's total revenue). The overall gross profit margin remained stable at 26.7%.

In the first half of 2016, the sales volume of the top 10 automobile manufacturers reached approximately 5 million units during the first half of 2016, accounting for 80.11% of the overall vehicle sales in China. Out of the top 10 automobile manufacturers of which some of them have established business relationships with Huazhong. The solid partnership with industry leaders has provided a strong foothold for the Group to capture the growth of the automobile industry.

In 2016, the Group plans to expand business and coverage by constructing a new production facility in Qingdao.


During the first half of year 2016, which is the starting point of China's 13th Five-Year Plan, the development of China's economy has always remained positive while the global economic environment getting uncertain. Hence, in the long run, China's automobile industry is expected to grow steadily in the coming five years. As it can be seen from the data of first half 2016, the auto industry successfully maintained stable growth. According to CAAM, the sales volume for the period from January to July 2016 increased by 9.8% compared with the same period of last year. The sales volume is estimated to grow continuously during the 3rd quarter.

Mr. Zhou concluded, "The Group will continue to implement its development strategy of "committing to product research and development and engineering and implementing strategic investments," and become a leading automobile body parts manufacturer in China in terms of reputation and market share. In addition to the traditional business, the Group commenced the development of in-vehicle products and target to launch it in the near future. We are cooperating with certain parties as part of the Group's strategic move to enter the mass market of automotive interconnection products and services."

About Huazhong In-Vehicle Holdings Company Limited

Huazhong In-Vehicle Holdings Company Limited is one of the principal suppliers of automobile body parts in China equipped with strong ability in production, product design and development. In particular, it has more than 10 years of experience in the mould development and application of LPIM, a more advanced, cost- and production-efficient and environmental-friendly technique for production of automobile internal decorative parts with fabric surface (such as ABCD-pillars and headliners) which are widely used as body parts for automobiles. The Company has a total of 16 factories, 15 of which are operating in different regions in China to serve the aforementioned automobile manufacturers. For further information, please browse the Company's website at

About Synergy Corporate Advisory Company Limited

Synergy develops and manages, with a particular focus on the investors relationship and the strategic development of the Hong Kong listed enterprises, to enhance the communication between the clients and the investors. Synergy integrates the financial analysis into the financial public relations as well as the strategic planning.

Synergy Corporate Advisory Co. Ltd.
Eric Wong, General Manager
Tel: +852 2636 9292 / 6018 0933

May Cheng, Account Executive
Tel: +852 2363 9292 / 6557 2627

Aug 31, 2016 10:38 HKT/SGT
Topic: Earnings
Sectors: Financial, Business
From the Asia Corporate News Network

Copyright © 2016 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Latest Press Releases
Hong Kong's TNG Wallet Unveils Plans to Go Global  
Sept 27, 2016 19:58 HKT/SGT
AiSpot selects Loyyal to provide Blockchain Loyalty Solution for Norwegian Travel Platform  
Sept 27, 2016 18:00 HKT/SGT
China Everbright Limited to host Investment Conference 2016 in Qingdao: "Exploring the New Era of Alternative Asset Management"  
Sept 27, 2016 16:22 HKT/SGT
Hong Kong Dinner in London Spotlights New Era of Opportunities  
Sept 27, 2016 15:20 HKT/SGT
Norwegian National Payment Scheme BankAxept Trusts Gemalto to Enable Mobile Financial Services for Banks  
Sept 27, 2016 13:00 HKT/SGT
Precious Metals Research Grants of Up to 5 Million Yen Offered by the Tanaka Memorial Foundation Applications for Research Projects Open on September 5  
Sept 27, 2016 10:00 HKT/SGT
Constellation Brands to Host Institutional Investor Meeting in New York City on November 9, 2016  
Sept 27, 2016 08:00 HKT/SGT
Sharp at CEATEC Japan 2016  
Sept 26, 2016 14:48 HKT/SGT
Hitachi Launches New Machine Room-Less Elevator for Asia and the Middle East  
Sept 26, 2016 11:09 HKT/SGT
MHIEC Receives First Order for Newly Developed Energy-Independent Sewage Sludge Incinerator from the Tokyo Bureau of Sewerage  
Sept 26, 2016 09:47 HKT/SGT
More Press release >>
 News Alerts
Copyright © 2016 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 5791 1818

Connect With us: