Hytera Communications H1 Earnings Up 391%
Revenue rose 54.95 percent to 570 million yuan during the reporting period.
Last week on August 12th, Hytera Communications (002583) reported its net profit surged 391 percent to 20.28 million yuan in the first half of 2011, with earnings per share of 0.09 yuan, reports China Business News, citing a company filing. The growth in net profit was attributed to increasing sales revenue. Revenue rose 54.95 percent to 570 million yuan during the reporting period. All percentage changes cited in this article are year-on-year.
The company increased the investment in the research of digital products in the first half of 2011, thus, revenue from digital products grew rapidly. Subsidiary Shenzhen Seg Communications undertook several Shenzhen metro communication projects during the reporting period, and it has received payment for them already.
Shenzhen Metro Group and Shenzhen Metro Line Three Investment respectively contributed 81.95 million yuan and 47.93 million yuan to Hytera Communications’ revenue in the first half of 2011, accounting for 14.39 percent and 8.41 percent of total revenues.
According to its semi-annual report, Seg Communications’ total asset was 138 million yuan in the first half of 2011, and its net profit was 14.59 million yuan, accounting for 72 percent of the listed company’s net profit. Seg Communications signed a contract with the construction headquarters of Ningbo Urban Rail Transit Project on February 25, 2011. The contract, worth 15.67 million yuan, was to provide wireless communication system to Ningbo metro line one.
The listed company imported a large number of electronic components from Japan in the first half of 2011, so its net operating cash flow was negative 121 million yuan, still higher than last year.
In addition, the listed company’s accounts receivable grew by 112 million yuan during the reporting period, while its accounts payable fell 108 million yuan.
Source: www.capitalvue.com
