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Thursday, 30 March 2017, 09:21 HKT/SGT

Source: Neo Telemedia Limited
Neo Telemedia's 2016 Annual Results Achieve a Turnaround
Turnover Increases by 31.3% to HK$2.5 Billion;
Profit Attributable to Owners of the Company Reaches HK$192 Million

HONG KONG, Mar 30, 2017 - (ACN Newswire) - Neo Telemedia Limited ("Neo Telemedia" or the "Company;" stock code: 8167, together with its subsidiaries, the "Group") is pleased to announce its annual results for the year ended 31 December 2016.

The Group continued to seize the opportunities presented by the Internet and big data era. Riding on the momentum from the acquisitions of Guangdong Bluesea Mobile Development Company Limited ("Bluesea Mobile") and Million Ace Limited and its subsidiaries (collectively referred to as "Million Ace Group") in 2015, the Group recorded encouraging results during the year. Turnover rose by 31.3% to approximately HK$2,513,845,000 (2015: HK$1,914,902,000). Due to the profit contribution from the businesses acquired as well as the gain amounting to approximately HK$143,000,000 on disposal of HCH Investments Limited, the Group successfully achieved a turnaround. Profit attributable to owners of the Company reached approximately HK$ 192,009,000, while earnings per share were 2.02 HK cents.

The Group adheres to maintaining the financial indicators at a healthy and reasonable level. As at 31 December 2016, the Group had cash and equivalents of approximately HK$188,900,000 and a current ratio at 4.5 times. To reward shareholders for their support, the Board recommended a final dividend of 0.38 HK cents per ordinary share.

Sale of telecommunication products and services

Bluesea Mobile Group

During the year, Bluesea Mobile and its subsidiaries (collectively referred to as "Bluesea Mobile Group") acquired 60% of equity interest in Guangzhou Nowtop Technology Company Limited ("Guangzhou Nowtop"). Guangzhou Nowtop is principally engaged in providing IDC services in the PRC and is currently managing more than 2,000 IDC server cabinets in various cities in the PRC, including Beijing, Shanghai, Guangzhou and Shenzhen. Meanwhile, Bluesea Mobile Group has also kicked off its IDC project in Panyu, and construction has started. The turnover contributed to the Group of approximately HK$271,900,000 during the year included trading of telecommunication products and provision of IDC, WIFI and value-added Internet services.

Million Ace Group

Million Ace Group is mainly engaged in trading of mobile phones, computers and related devices. Although there has been a worldwide slowdown in smartphone sales in 2016, Million Ace Group managed to record a turnover of approximately HK$2,162,900,000 during the year.

Internet Finance Platform Business

During the year, the Group continued to expand the customer base of its Internet finance platforms in Guangdong Avatar Wealth Investment Management Company Limited and Shenzhen Bees Financial Internet Financial Services Co. Ltd. The revenue of approximately HK$72,900,000 contributed to the Group represented service or commission income through the operations of those platforms.


Looking ahead, the Group will continue to expand its IDC business. In addition to the IDC project in Panyu, the Group has made a successful bid on a land parcel in Heshan City on 6 January 2017 and will use it for the construction of the "Bluesea Big Data Industrial Park" which will feature a big data enterprise incubation platform made possible through government guidance, market conditions and policy support.

Moreover, riding on favorable policies and support from the PRC government towards these fast growing sectors, the Group will continue to explore potential investment opportunities in IDC, cloud computing and related businesses and strive to reward shareholders with better results.

About Neo Telemedia Limited

Neo Telemedia Limited and its subsidiaries (collectively, the "Group") invest and operate Internet Data Center, provide big data and cloud computing services. The Group was included as a constituent stock in the MSCI Hong Kong Small Cap Index with effect from December 2016. Its wholly-owned subsidiary, Guangdong Bluesea Mobile Development Company Limited, partners with large-scale telecommunications operator in China to establish a large-scale cloud computing centre in Southern China. Additionally, Avatar Wealth and Bees Financial offer Internet finance platform business services. Shenzhou Aerospace Manufacturing Technology (Guangdong) Institute, which was jointly established by the Group, Shenzhou Aerospace Software Limited and Foshan Chancheng District People's Government, was registered as a non-profit organization at the Department of Civil Affairs of Guangdong Province on 23 October 2015. At the end of 2015, the Group completed a public offer and raised approximately HK$1.1 billion to be invested in the data center of Guangdong Bluesea Mobile Development Co., Ltd., including the Bluesea Big Data Industrial Park in Jiangmen Heshan City.

Strategic Financial Relations Limited
Joanne Lam     Tel: 852-2864 4816   Email:
Cecilia Shum   Tel: 852-2864 4890   Email:
Jeffrey Tam    Tel: 852-2864 4858   Email:

Mar 30, 2017 09:21 HKT/SGT
Source: Neo Telemedia Limited

Topic: Press release summary
Sectors: Media, Daily Finance, Enterprise IT, Daily News
From the Asia Corporate News Network

Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

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