HONG KONG, Feb 29, 2016 - (ACN Newswire) - Tongda Group Holdings Limited ("Tongda Group" or the "Group") (Stock Code: 698) announced that, based on the currently available information, the Board wishes to inform the Shareholders and potential investors of the Company that the profit attributable to owners of the Company for the year ended 31 December 2015 is expected to increase by approximately 35% to 40%, when compared with that for the year ended 31 December 2014 of HK$501.7 million.
The Directors consider that the growth in the profit attributable to the owners of the Company is mainly due to the continuous enhancement of the Group's consolidated gross profit as a result of the corresponding increase in the Group's turnover and gross profit margin.
The increase in the Group's turnover in handset segment is mainly due to the introduction of metal casing products and significant increase in the contribution from one of the major customers. Besides, due to the change of the sales mix, the gross profit margin from turnover of major customers also improved.
For details, please refer to the announcement:
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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Feb 29, 2016 22:43 HKT/SGT
Source: Tongda Group Holdings Limited
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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