HONG KONG, Apr 27, 2016 - (ACN Newswire) - Tongda Group Holdings Limited ("Tongda" or the "Group") (Stock Code: 698) has presented the operating position for the three months ended 31 March 2016.
Revenue derived from sales to the largest five customers during the period ended 31 March 2016 and 2015 amounted to approximately HK$872 million and HK$718 million respectively, which represented approximately 62% and 60% of the total revenue respectively.
During the period, the Group's turnover increased from approximately HK$1.2 billion to HK$1.4 billion, representing an approximately 16.7% increment. The increase in the contribution from the handset segment was offset by the decrease in the orders from customers of electrical appliances and set-top boxes. The automotives interior decorative parts business and the precision rubber parts business recorded good progress.
Compared with the corresponding period in 2015, the metal handset casings orders from key customers increased. The major handset models produced by the Group include Huawei Maimang 4, OPPO A53 and R9, Xiaomi Redmi 3, Redmi Note 3 and Xiaomi 4c, Qiku Youth Edition and Flagship Edition, Coolpad Fengshang max and iVVi i3.
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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Apr 27, 2016 20:15 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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