"AAC Acoustic Holdings Inc." has changed to "AAC Technologies Holdings Inc."   

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2013 1Q - Announces Strong Q1 2013 Results

 

AAC Technologies Announces Strong Q1 2013 Results

*     *     *

Y-o-Y Revenue & Net Profit Increased by 60% & 70% Respectively

 

 

Financial Highlights

 

 

For the Three Months Ended

31 March

Year-on-Year Change

4Q 2012

RMB’ million

Quarter-on-Quarter Change

2013

RMB’ million

2012

RMB’ million

Revenue

1,905

1,192

+60%

1,997

-5%

Gross Profit

814

512

+59%

902

-10%

Gross Profit Margin

42.7%

43.0%

-0.3pts

45.2%

-2.5pts

Net Profit

534

314

+70%

569

-6%

Net Profit Margin

28.0%

26.3%

+1.7pts

28.5%

-0.5pts

Basic Earnings per Share

RMB 43.47 cents

RMB 25.58 cents

+70%

RMB46.36

cents

-6%

 

 

 

(8 May 2013 – Hong Kong) – AAC Technologies Holdings Inc. (“AAC Technologies” or “the Company;” HKEx: 02018), a world-leading miniature technologies components solution provider, announced today its unaudited first quarter results for the three months ended 31 March 2013 (“the period”).

 

Driven by the significant gain in market penetration among growing smart devices customers and an enhanced product mix, the Company achieved a performance better than the seasonal norm. Revenue decreased 5% sequentially from Q4 2012, which beat the traditional low season Q1 sales pattern.

 

On a year-on-year basis, revenue rose 60% to RMB 1,905 million (Q1 2012: RMB1,192 million). The Company recorded revenue of RMB 958 million from its highest value product, speaker box, which accounted for more than half of the period’s revenue. Gross profit margin for this quarter was maintained at 42.7%, a similar level to Q1 2012. However, due to the seasonal factor of the 1st quarter of every year, gross margin when compared to the previous Q4 2012, was lowered by 2.5%. Net profit margin rose to 28.0%, supported by the better control of operating and R&D costs and a favourable currency environment.

  

With commensurate commitment of resources to R&D, the Company has captured a significant market share in the mid to high-end smart devices segment which is undergoing an upgrading process. Furthermore, the trend of increasing acoustic value per device is expected to continue. Extended applications of our solutions in tablets and other consumer electronics products should also deliver further growth momentum for the Company.

 

Mr Benjamin Pan, Chief Executive Officer of AAC Technologies, said, “We continue to see a strong demand for adoption of new technology in smart devices. We aim to leverage our technology, production know-how and solid operating track record to win higher market share in the fast-changing smart devices components industry.

 

-End-

 

About AAC Technologies Holdings Inc.

AAC Technologies is one of the world’s foremost vertically integrated manufacturers of miniature components. Our Company designs, manufactures and distributes a comprehensive suite of acoustic and non-acoustic products. Acoustic products include speakers and microphones, and non-acoustic products include antennas, optical lenses and vibrators for use in mobile handsets, tablets, game consoles, ultrabooks, notebook computers and other consumer electronics devices such as electronic book-readers and MP4 players. We offer wide-ranging innovative technology design solutions covering mobile telecommunications, IT products, consumer electronics, home appliances, automobile and medical applications markets.

 

AAC Technologies is a constituent stock of Hang Seng Corporate Sustainability Benchmark Index, Hang Seng Mainland 100 Index, Hang Seng HK MidCap Index, FTSE Hong Kong Index and MSCI SMID (Small & Mid cap) Index.

 

For more details, please visit www.aactechnologies.com

 

 

Contact:

AAC Technologies Holdings Inc.

Connie Chin                                                          Louis So

Head of Investor Relations                                   Investor Relations Manager

Tel: (852) 3470 0079                                            Tel: (852) 3470 0076

Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it          Email: LouisSo@aactechnologies.com

 

For press enquiries:

Strategic Financial Relations Limited

Vicky Lee               Tel: (852) 2864 4834                       Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Sherman Yu           Tel: (852) 2114 4956                      Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Cecilia Shum          Tel: (852) 2864 4890                      Email: cecilia.shum@sprg.com.hk

 Fax: (852) 2527 1196