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Wednesday, 15 March 2017, 10:23 HKT/SGT
China Leon Announces its 2016 Annual Results; Achieved Net Profit Increased by 21.8%

HONG KONG, Mar 15, 2017 - (ACN Newswire) - China Leon Inspection Holding Limited (the "China Leon" or the "Company", Stock Code: 1586.HK) is pleased to announce its annual results for the 12 months ended 31, December 2016 (the "Review Period"), and has passed the resolution for the proposed payment of the final dividend of RMB0.025 per share for this year.

During the Review Period, China Leon operated well in the year and recorded a stable and sound growth in its performance. The Company recorded a revenue about RMB186.5 million, a gross profit about RMB96.4 million and a net profit about RMB33.6 million, representing an increase of 19.7%, 19.8% and 21.8%, respectively, as compared to the same period in 2015. The service income derived from the Four Northern Ports and other ports (areas) increased by 11.9% and 42.9%, respectively, as compared to 2015.

The growth in the performance of the Company was primarily attributed to the following factors: (1) an increase in the concentration of the major customers as a result of the recovery of coal industry, active trading market and reform of the production side; (2) more efforts put on marketing and sales and more orders obtained from the participation in tendering activities; (3) the competitive edge in the service network of the Company through upgrading and increasing service centers; and (4) a substantial improvement in the technology level and service efficiency as a result of the smooth progress of the research and development work as well as research and development of intelligent equipment and informatized upgrading of the business, which has further enhanced the competitiveness and brand value of the Company.

During the Review Period, the Company completed the upgrading of the service center located in Huanghua port (phase I), which had the largest business volume among the Four Northern Ports, and the new service center in Tangshan port (Jingtang port) is under construction and will complete construction in the second quarter of 2017. Meanwhile, in July 2016, the ninth service center located in Jiangyin, Jiangsu was put into operation, which has improved the domestic service network. Through upgrading of the service centers located in the Four Northern Ports, the Company was enabled to improve the production capacity and accommodate increased business volume.

The Company put further efforts on the research and development work, and managed to achieve satisfactory results during the Review Period. The business informatized management system developed by the Company has completed and applied in its business. The work base station for robot sampling which the Company worked with a robot manufacturer has been developed and will be put into operation in April 2017. In addition, the Company applied for 14 new patents (including an invention, utility model and software copyright) and published 2 corporate standards. Such progress in the core business, research and development will help the Company to solidify its leading position in the industry and improve its core competitiveness in the coal testing and inspection industry in the future.

Mr. LI Xiangli, Chairman, Executive Director and Chief Executive Officer stated: "China Leon will continue to upgrade and expand its service center network, actively develop the imported and exported coal testing services, improve its research and development and technical strength, and further solidify our leading position in the coal testing and inspection industry. Meanwhile, the Company will adopt innovative business model to implement the strategy of diversification and take new opportunities for growth. Pursue strategic acquisition or investment to enhance our service capabilities and expand our service coverage. We will take 'uphold integrity and justice, be fair and equitable and contribute to a future of good quality' as a mission, and will be committed to developing China Leon into the most credible independent quality assurance service provider in the world. Through those efforts, the Company is aimed at creating sustainable value and returns for its shareholders."

About China Leon Inspection Holding Limited
China Leon is the largest coal testing and inspection services provider in China. Through an extensive network of service centers strategically positioned primarily at major coal-trade ports in China, including Tianjin, Tangshan, Qinhuangdao, Huanghua (Cangzhou), Nanjing, Xiangtan, Guangzhou, Zhuhai and Jiangyin, the Company offers a comprehensive suite of testing and inspection services to customers in the coal industry and other domestic industrial sectors, which includes (1) testing services, (2) surveying services and (3) witnessing and ancillary services. The Company's customers include primarily major coal mining companies, coal distribution companies and power generation companies. The Company is committed to developing itself into the most credible independent quality assurance service provider in the world.

Mar 15, 2017 10:23 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network

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