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Revenue of smart cards business increases;
Sales and profit of petrochemical product achieves notable growth |
HONG KONG, Aug 13, 2015 - (ACN Newswire) - Phoenitron Holdings Limited ("Phoenitron," together with its subsidiaries the "Group;" stock code: 8066) announced its unaudited interim results for the six months ended 30 June 2015. The Group recorded an unaudited turnover of HK$915,374,000 for the first half of the year, representing an increase of 1,110% as compared with that of the corresponding period in 2014.
During the period under review, the Group's financial revenue was principally derived from contract manufacturing of smart cards, the provision of customized smart card application systems, the provision of management and financial consultancy services and the sales of petrochemical products. The Group's petrochemical products business operated by its indirect non-wholly owned subsidiary, Shanghai Phoenitron Petroleum & Chemical Company Limited ("Shanghai Phoenitron") has also recorded notable growth in terms of sales and profit and contributed a revenue of HK$828,900,000 to the Group during the period.
Ms. Lily Wu, Chairman and CEO of Phoenitron, said, "Since Shanghai Phoenitron was established and started operation last September, the Group's petrochemical operation has performed satisfactorily. Looking into the second half, the Group will invest more resources to expand this arm in order to secure new customers and boost the profit. We will also enrich related product mix to increase its revenue contribution. In addition, the Group has already submitted applications for the permit to operate natural gas filling stations. It is expected that this segment will become an important profit and revenue generator for the Group in the future once the filling stations start operation."
In addition, the Group's smartcard business, including module packaging and testing service introduced in 2012 providing customers with one-stop smart card services, has also continued to generate encouraging results. In the first half of the year, the business has generated a revenue of HK$83,500,000 for the Group, an increase of HK$10,800,000 or 14.9% year-on-year.
To conclude, the Chinese government has strongly encouraged the development of a low-carbon economy to achieve sustainable development, which has continuously provided Pheonitron a solid advantage in the development of the natural gas resources industry. Pheonitron will continue to seize opportunities for collaboration with companies related to the natural gas business in order to realize business growth. In fact, as stated earlier in the previous announcement, the Group is evaluating several natural gas projects for potential investment as well as merger and acquisition. In addition, the Group believes that supportive PRC policies for the telecommunications industry can reinforce the on-going demand in the domestic smart cards market. Looking ahead, the Group will further strengthen and consolidate internal resources allocation in the smart cards business and closely examine the market trend to evaluate possible investment and merger and acquisition, in order to optimize the structure of our telecommunication segment which has outstanding business prospects.
Contact:
Strategic Financial Relations Limited
Heidi So Tel: 852-2864 4826 Email: heidi.so@sprg.com.hk
Grace Lai Tel: 852-2114 4313 Email: grace.lai@sprg.com.hk
Stephanie Liu Tel: 852-2864 4852 Email: stephanie.liu@sprg.com.hk
Fax: 852-2527 1196
Topic: Press release summary
Source: Phoenitron Holdings Limited
Sectors: Daily Finance
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From the Asia Corporate News Network
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