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

Current PostionHomeAbout AACLatest News2012 2Q Results - Record Interim Revenue & Net Profit

2012 2Q Results - Record Interim Revenue & Net Profit

 

AAC Technologies Achieves Record Interim Revenue & Net Profit

 

New Products Lifted Average Selling Prices

 

 

Financial Highlights

 

 

For the Six Months Ended

30 June

Year-on-

Year Change

2Q 2012

RMB’ million

1Q 2012

RMB’ million

Quarter-on-Quarter Change

2012

RMB’ million

2011

RMB’ million

Revenue

2,589

1,882

+38%

1,397

1,192

+17%

Gross Profit

1,126

821

+37%

614

512

+20%

Gross Profit Margin

43.5%

43.6%

-0.1pts

43.9%

43.0%

+0.9pts

Profit Attributable to the Owners of the Company

720

509

+41%

406

314

+29%

Net Profit Margin

27.8%

27.1%

+0.7pts

29.1%

26.3%

+2.8pts

Basic Earnings per Shares

RMB 58.66

cents

RMB 41.47 cents

+41%

RMB 33.08

cents

RMB 25.58 cents

+29%

 

(24 August 2012 – Hong Kong) – AAC Technologies Holdings Inc. (“AAC Technologies” or “the Company;” HKEx: 02018), a world-leading miniature technologies components solution provider, today announced its unaudited results for the first six months ended 30 June 2012 (“the period”).

 

On a year-on-year basis, revenue and gross profit of the first six months soared 38% and 37% respectively. The solid growth was mainly driven by gains in market share, together with a significant increase in average selling price through upgrades in product technology and market expansion into the tablets segment. Gross profit margin was well maintained at 43.5%, despite higher labour costs and unfavorable fluctuations in currency exchange rates. This is primarily attributed to enhancements in product mix and production efficiency.

 

The Company’s policy is to pay a dividend for the entire year that reflects its overall financial position and CAPEX requirement. For the interim dividend, the Company strives to maintain a stable payout amount with the balance taken up in the final divided. For this interim period, the Board declared an interim dividend amount of HK 20.0 cents per share.

 

On a quarter-on-quarter basis, revenue of 2Q 2012 rose 17% to a record high of RMB 1,397 million. Gross profit and net profit were RMB 614 million and RMB 406 million respectively, representing 20% and 29% increases respectively. Despite headwinds in the mobile devices market caused by customers’ products transition and brands reshuffling, the Company was able to increase market penetration among growing smartphone and tablet brands.

 

Riding on the strong smart-device cycle, AAC will continue to focus on increasing the value proposition of built-in micro-acoustic components by enhancing the sound quality of customers’ products. The pursuits of audio excellence in ultra-slim handheld devices present opportunities for the Company to apply its technological edge and hold on to its market leadership. With the prevailing trend of product upgrades, more mid-range smartphones are expected to adopt higher value solutions such as speaker boxes and MEMS microphones.

 

The Company’s product development in the non-acoustic segment including handset optical lenses and antennas remains on track with initial shipments expected in the second half of 2012.

 

 

Mr Benjamin Pan, Chief Executive Officer of AAC Technologies, said, “Despite the challenging global business environment, our competitive advantages of strong R&D, proprietary-design automated production and the broad customer base have enabled us to safeguard our market leading position and gain a greater market share among various smartphone brands. Looking ahead, AAC Technologies will continue to leverage its strengths to extend its market penetration in the broader micro-components arena.”

 

For details of the results announcement, please refer to the Company’s disclosure filings on Hong Kong Exchanges and Clearing Limited’s HKExnews website www.hkexnews.hk.

 

- 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, vibrators and ceramics products for use in mobile handsets, tablets, game consoles, ultrabooks, notebook computers and other consumer electronics devices such as electronic book-readers, MP3 players 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 newly selected as a constituent stock of Hang Seng Corporate Sustainability Benchmark Index, effective from 10 September 2012. The Company has been a constituent stock of the Hang Seng Mainland 100 Index, Hang Seng HK MidCap Index, FTSE Hong Kong Index and MSCI SMID (Small & Mid cap) Index.

 

 

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: This e-mail address is being protected from spambots. You need JavaScript enabled to view it  

 

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

Carrie Wang            Tel: (852)2114 4319               Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Fax: (852) 2804 2789 / (852) 2527 1196