Sales Revenue and Profit Attributable to owners of the Company reached US$204.0 million and US$25.9 million respectively
Establish Green Brand and Expand in Energy-saving market
HONG KONG, Aug. 25 /PRNewswire-Asia/ –
Financial Highlights:
For the 6 months ended 30 Jun
2010 2009 Change
US$ ’000 US$ ’000 (%)
Sales revenue 204,034 109,780 +85.9%
Gross profit 55,377 27,869 +98.7%
Gross profit margin (%) 27.1 25.4 +1.7 ppts.
Operating profit 31,796 13,687 +132.3%
Profit/ (Loss)
attributable to
owners of the Company 25,934 (8,590) N/A
Net profit margin (%) 13.3% N/A N/A
Basic earnings/
(loss) per share 1.1 US cents (0.4) US cents N/A
NVC Lighting Holding Limited (“NVC” or the “Company”, together with its subsidiaries, the “Group”, HKEx stock code: 2222), the leading supplier of lighting products in China, today announced its interim results for the six months ended 30 Jun 2010 (“the Period under Review”).
During the Period under Review, benefiting from the favorable environment with the recovery of the economy and the implementation of efficient business strategies, the Group recorded outstanding business performance. Sales revenue increased by 85.9%, reaching US$204 million (approx. HK$1.59 billion). Gross profit rose to US$55.38 million (approx. HK$430 million) with an increase rate of 98.7%. Operating profit is up by 132.3% to US$31.80 million (approx. HK$247 million). Profit attributable to owners of the Company surged to US$25.93 million (approx. HK$202 million). The Board recommended the payment of an interim dividend of 2 HK cents per share for the six months ended 30 June 2010.
Concerning the Group’s outstanding business performance, Mr. Wu Changjiang, Chairman, CEO and Executive Director of NVC said, “During the Period under Review, the Chinese economy maintained its rapid growth momentum. The lighting industry showed certain signs of growth along with the recovery of the macro-economy. The Group fully grasped the market opportunities with effective business strategies such as promoting the brand profile of NVC and furthering its sales, production and product R&D efforts, with a view to maintain the Group’s leading position in the lighting industry and deliver outstanding results. The Group was successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited on 20 May 2010, symbolizing a new milestone for the Group’s further development, and the proceeds from which allowed us to accelerate the pace of corporate development, enhance our core competitiveness and profile and consolidate our leading position in the industry.”
During the Period under Review, rapid growth was recorded for the Group’s three product segments. Revenue from luminaire products increased by 88.1% to US$99.07 million (approx. HK$770 million). For the lamp products, revenue increased 77.3% to US$78.03 million (approx. HK$607 million) as compared to the corresponding period in 2009. And the revenue of lighting electronic products segments was US$26.93 million (HK$209 million), with an increase of 105.7%. With our efforts in improving our manufacturing efficiency and enhancing the vertical integration of products and the scale of the economies, the Group’s gross profit margin increased from 25.4% in the first half of 2009 to 27.1% this year.
During the Period under Review, the Group’s s retail network further expanded. 405 NVC outlets were newly established. After taking out 216 NVC outlets which were closed down or re-organized, the number of net increase for NVC outlets was 189, among which 51 were in the provincial capital cities, 20 were in the municipal cities and 118 were in the counties. As at 30 June 2010, the Group had a total of 2,650 NVC outlets. The Group furthered its effort in strengthening its control over its exclusive regional distributors and NVC outlets during the period. In the first half of 2010, during the first half of 2010, the Group maintained the original 36 exclusive regional distributors and has strengthened its control and guidance over their implementation of the Company’s policy, so as to perfect the price management system and optimize the product portfolio. During the Period under Review, the Group has newly developed 18 large Professional engineering customers with transaction value exceeding RMB1 million and 46 key accounts, revenue grew by 120.4% as compared with the corresponding period of 2009.
In terms of NVC brands sales in international market, the Group continued to develop new customers and strengthen the development of its sales channels. With respect to emerging market such as Asian and African countries, the Group has adopted strategy with reference to its China model to develop new distributors. With respect to the markets with well-established channels such as Europe and the USA, the Group has expedited its pace in brand building and cooperated with experienced channel operators. For example, UK NVC has gradually switched to the wholesales of NVC brand products from the sole OEM sales model and had successful cooperation with a number of well-known local electrical appliances chain stores, thereby NVC brand products gained access to the mainstream channels.
The Group has been placing strong emphasis in raising the brand profile, marketing and promoting the NVC brand, which included active participation in different industry seminars and forum in China, and participated in various overseas promotional activities, in order to strengthen and promote NVC’s professional brand image.
Concerning the Group’s development in the second half year, Mr. Wu said, “In the later half of 2010, China will be hosting two international events, namely, the Shanghai World Expo and the Guangzhou Asian Games. The resultant economic benefits for domestic enterprises from these two major events will be immeasurable. They will also bring large amount of orders and offer a showcase platform for China’s lighting industry. In order to grasp the business opportunities ahead, we will continue to secure our leading position in the industry through technological transformation and introduction of advanced production facilities. On the other hand, the global’s concern on energy saving and emission reduction has directly driven market demand to energy-saving products. We will keep increasing our production capacity on energy-saving lamp products and focus on the production of energy-saving products, further consolidate the NVC’s green brand image. We will also make our best efforts to further brand building, increase investment in the research and development of products, improve production efficiency and product quality and introduce the most advanced technologies in the world, so as to maintain our leading position in technologies of the lighting industry.”
“We will also further expand the coverage of our distribution network, penetrate deeper into existing markets and explore new distribution models. We will also keep an eye on potential enterprises, continue to perfect our product structure and market system through merger and acquisition activities. We strive to achieve the goal of ‘Becoming a world famous brand and the best player in the industry, bring the best return to our shareholders,” Mr. Wu concluded.
About NVC
NVC is a leading lighting products supplier in China, and was listed on the Stock Exchange of Hong Kong Limited on 20 May 2010. According to the Report from China Association of Lighting Industry (CALI), the Company is the largest domestic lighting brand supplier and ranked the second amongst all lighting brand suppliers in China based on 2009 sales revenue. The Company designs, develops, produces, markets and sells a variety of lighting products, including luminaire products, lamp products and lighting electronics products. NVC products were sold through a nationwide sales network of 36 exclusive regional distributors and 2,650 NVC outlets covering 31 provinces, municipalities and autonomous regions in China.
For further information, please contact:
Porda International (Finance) PR Company Limited
Mr. Terence Wong
Tel: +852-3150-6773
Email: terence.wong@pordafinance.com.hk
Ms. Kelly Fung
Tel: +852-3150-6763
Email: kelly.fung@pordafinance.com.hk
Ms. Fiona Ko
Tel: +852-3150-6750
Email: fiona.ko@pordafinance.com.hk
Singapore, Aug 25, 2010 – (ACN Newswire) – Open Text Corporation (NASDAQ: OTEX), the preeminent provider of enterprise content management (ECM) software, today announced that it has expanded its solutions in the global legal market including introducing key integrations between Open Text Document Management, eDOCS Edition (eDOCS DM) and Open Text Social Workplace available this fall.
The announcement was made at the ILTA 2010 conference taking place this week at Aria Resort & Casino in Las Vegas, Nevada. Open Text is a platinum sponsor of the event and exhibiting in booths 713 & 715. Follow @OpenText on Twitter for ongoing coverage.
“Open Text Social Workplace was used most recently by members of the G-20 Summit ( http://tinyurl.com/295ln55) to collaborate on major issues and ideas world-wide. Similarly, law firms are recognizing the benefit of collaborating with others on key projects and cases, and require the same type of secure environment that follows existing information governance rules and regulations,” said Todd Partridge, General Manager eDOCS and Legal Solutions for Open Text. “By integrating Open Text Social Workplace and eDOCS DM, law firms will have more options for collaborating on ideas, documents and matters with clients and employees that will be secured and stored within their eDOCS repository.”
More information on Open Text’s upgrades and integrations to the eDOCS product line:
Open Text Social Workplace and Open Text eDOCS Integrations
First released in the summer of 2009, Open Text Social Workplace offers employees an elegant way to network and interact with each other and excels in how it supports a team’s ability to form, organize and collaborate on projects as an easy-to-deploy shrink-wrapped solution. Built to be flexibly deployed either standalone or as part of another solution, Open Text Social Workplace will integrate with Open Text eDOCS allowing users from within law firms to collaborate on documents and matters stored and governed within eDOCS. This includes new microblogging and instant messaging features and respects current permissions and governance rules. As a result, law firms will be able to maintain closer more productive attorney client relationships, and provide for more effective knowledge capture and sharing within the practice.
Open Text Document Management, eDOCS Edition 5.3
Open Text Document Management, eDOCS Edition helps eliminate the mounting inefficiencies caused by the inability to manage documents as well as the “islands of information” prevalent in many global organizations. It helps control document-based knowledge assets by enabling users to capture, organize, locate and share business content in a secure, integrated, and intuitive environment. With the release of eDOCS DM 5.3, full Windows 7 and Microsoft(R) Office(R) 2010 support and updated integrations are available helping to increase user productivity and streamline matter management. Also added in this release is new platform support for 32 and 64 Bit versions of Windows Server 2008,SQL Server 2008, and Windows Communication Foundation (WCF) support, while deployment costs are lowered through native Microsoft Windows Installer (MSI) support.
Open Text Document Management, eDOCS Edition Integration with Open Text Records Management
eDOCS DM customers can now gain greater control of their content using the Open Text flagship records management offering with native integration, search and access from within the native eDOCS DM user interface. Extensive records management of physical items, electronic records and email, as well as structured data from systems such as Microsoft SharePoint(R) 2010 and SAP are all available in this release.
WirelessDMS for eDOCS for Apple iPad
Support for Apple iPad is now available for WirelessDMS for eDOCS allowing users to access content from within eDOCS DM using the iPad device.
The Open Text eDOCS portfolio brings together the broad range of content management capabilities that legal firms need to securely and safely manage all types of enterprise information; documents, vital records, recorded depositions, Web content, video, images, and email. Open Text’s eDOCS offers the cross-enterprise ECM solutions firms are looking for as the strategic importance of ECM grows. Currently, 90 percent of the AmLaw 100 firms are using Open Text’s content management solutions.
Resources:
- Open Text Solutions for Legal: http://tinyurl.com/cunos9
- Open Text Social Workplace: http://tinyurl.com/23rgy6f
- Open Text eDOCS: http://tinyurl.com/29lq9hz
- Video on Open Text Social Workplace for Law Firms: http://tinyurl.com/28p3ayl
About Open Text
Open Text, the preeminent enterprise content management software solutions company, helps organizations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 100 million users in 114 countries. Working with our customers and partners, we bring together leading Content Experts(TM) to help organizations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness. For more information, visit www.opentext.com.
Copyright (C) 2010 by Open Text Corporation. OPEN TEXT, OPEN TEXT MEDIA MANAGEMENT 7 and the ARTESIA DAM are trademarks or registered trademarks of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. This list of trademarks is not exhaustive. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.
Contact:
Lavanya Indralingam
Priority Consultants for Open Text Corporation
+65 6338 1006
lavanya@priorityconsultants.com
Stephanie Fazio
Open Text Corporation
+ 1-519-888-7111 ext.2429
sfazio@opentext.com
Experienced business development professional to focus on expanding Corporate business
HONG KONG, Aug. 23 /PRNewswire-Asia/ — Ipreo, a leading global provider of market intelligence and productivity solutions to investment banks and corporations, announced that Anthony Choy comes on board today to take on Corporate Sales Director for Greater China, selling market intelligence, Investor Relations (IR) workflow solutions, and corporate advisory services into Hong Kong, Taiwan and Mainland China.
Mr. Choy is an experienced business development professional with a successful track record in the data and information space. He comes to Ipreo from Thomson Reuters, where he was responsible for sales and account service to C-level executives and IR professionals of listed companies in Hong Kong and Mainland China. Prior to that, Mr. Choy was a top salesperson at Wisers Information Limited. Previous experience also includes sales and marketing roles in the field of telecommunications. His language skills include English, Cantonese, and Mandarin.
“In 2010 alone, over 70 listed companies in Greater China have come to rely upon our technology, real time data or analyst based advice,” said Justin Reynolds, Managing Director of Asia-Pacific for Ipreo. “Anthony’s experience in both the region and the industry will allow us to continue our rapid growth and bring these critical IR services to more companies in the region.”
Ipreo’s Corporate offering includes a suite of market intelligence tools for Asian listed companies (Shareholder Identification, Surveillance, Shareholder Meeting Proxy Solicitation Services, Targeting, Perception and Corporate Governance Analytics), as well as workflow tools and buy-side investor data (BD Corporate, iPlanner, and buy-side communication tools).
About Ipreo
Ipreo is a premier global provider of high quality data, market intelligence, and productivity solutions to Investment Banking and Corporate clients. With decades of experience serving the capital markets, and a reputation for superior customer service, Ipreo is both a dynamic innovator and a trusted resource. Ipreo has more than 600 employees and operations throughout Asia, the US, Europe, and Africa. Ipreo is majority-owned by private equity firm VSS (http://www.vss.com ).
For more information, please go to http://www.ipreo.com .
PERTH, Australia, Aug. 24 /PRNewswire-Asia/ — AVEVA Group plc (LSE: AVV) one of the world’s leading providers of engineering design and information management solutions for the plant, power and marine industries announces the successful conclusion of its Engineering Information Management (EIM) Conference 2010 series in Perth and Melbourne. This high calibre event attracted over 120 delegates in the two cities where key customers and industry peers shared success stories and exchanged knowledge on emerging technologies.
Among the highlights of the conference were these key customer presentations:
— Building a sustainable, fully digital operational Plant by Woodside
Energy, illustrating how they successfully built a sustainable, fully
digital operational plant, as well as the benefits in and the future of
using AVEVA technologies.
— The value of P&ID data interfacing with the AVEVA PDMS model by
WorleyParsons and AVEVA Joint development, where the business benefits
of interfacing external P&ID’s to the 3D Model were demonstrated.
— Otway Transition Project — Managing the migration of Engineering
Information by Origin Energy focusing on the challenges faced during
the acquisition of Otway asset and the importance of quick and accurate
transition of engineering information to Origin’s target systems, with
minimal impact on operations and ownership handover.
— Endeavour — the Project Knowledge Centre by Aker Solutions presented
the project knowledge and management environment of “Endeavour” which
enabled secure access of controlled documentation, design data,
procurement data and 2D/3D CAD data via a browser without the need for
a locally installed application.
The presentations above and conference as whole demonstrated real benefits of AVEVA solutions to businesses and showcased new technologies capable of driving global projects, reducing lead times and improving productivity and quality.
Richard Beck, Vice President and Country Manager, AVEVA Australasia, said: “We are very pleased with the outcome of EIM 2010 conference series and valuable experiences shared during these two days. I’m assured the knowledge learned will benefit of our business as well as our customers.”
About AVEVA Group Plc
AVEVA is trusted around the world to deliver engineering design and information management solutions with strategic value to leading companies in the plant and marine industries. For further information please visit http://www.aveva.com or http://www.aveva.com/ednotes
(C) AVEVA Solutions Ltd and its subsidiaries 2010. All product names mentioned are the trademarks of their respective holders.
Media Contact:
AVEVA Asia Pacific
Youli Hooi
Marketing Communications Manager
Tel: +603-2176-1234
Email: youli.hooi@aveva.com
Edelman
Tony Faccenda
Senior Account Executive
Tel: +61-3-9863-7629
Email: tony.faccenda@edelman.com
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