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

Current PostionHomeAbout AACLatest News2011 Annual Results - Revenue and Net Profit Hit Record High

2011 Annual Results - Revenue and Net Profit Hit Record High

Revenue and Net Profit Hit Record High
* * *
Riding on the Strong Growth Momentum in Smartphone

Financial Highlights

Year Ended31 December YOYchange 4Q 2011RMB' million 3Q 2011RMB' million QOQchange
2011 RMB' million 2010 RMB' million

Revenue

4,060 3,349 +21.2% 1,132 1,045 +8.3%
Gross Profit 1,784 1,510 +18.1% 503 460 +9.4%
Gross Profit Margin 44.0% 45.1% -1.1pts 44.5% 44.0% +0.5pts
Net Profit 1,036 987 +5.0% 265 262 +1.0%
Net Profit Margin 25.5% 29.5% -4.0pts 23.4% 25.1% -1.7pts
Basic Earnings per Share RMB 84.38 cents RMB 80.35 cents +5.0% RMB 21.56 cents RMB 21.35 cents +1.0%
Dividend per Share HKD41.60
cents
HKD37.90
cents
+9.8% --- --- ---

 

 


(30 March, 2012 – Hong Kong) – AAC Technologies Holdings Inc. (“AAC Technologies” or “the Company”; HKEx: 02018), a world leading miniature technologies components solution provider, announced today its audited annual results for the year ended 31 December, 2011 (“the year”).

For 2011, the Company delivered annual record-setting revenue and net profit of RMB 4,060 million and RMB 1,036 million, representing a year-on-year growth of 21.2% and 5.0% respectively. This was the result of ongoing growth in smartphones and other mobile devices. Reported gross margin was 44.0%, a slight drop from last year, primarily because of currencies fluctuation. Net profit margin decreased to 25.5%, mainly due to the higher research and development expenses incurred in developing new component technologies.

The Board recommended the payment of a final dividend of HKD 21.60 cents per ordinary share, giving total dividend for the year of HKD 41.60 cents, representing a total payout ratio of about 40.0% of the net profit.
 
Highlighting the fourth quarter results, the Company posted revenue of RMB 1,132 million and net profit of RMB 265 million, representing a quarter-on-quarter growth of 8.3% and 1.0% respectively. Gross margin rose to 44.5%, attributable to favourable product mix and the increasing automation in production.

Despite concerns over sluggish global economic growth, the demand for high-end mobile communication devices remained strong in 2011. New functionalities of handheld devices, such as voice recognition and cloud media streaming, took a giant leap and called for more sophisticated and customised acoustic component designs. AAC has successfully capitalised on this trend, increasing value content as well as average selling price of its products. As a technology innovator, the Company is well-positioned to benefit from the huge growth opportunites presented by new products such as tablets and ultrabooks.

Mr Benjamin Pan, Chief Executive Officer of AAC Technologies, said, “We are excited about the market opportunities presented by the accelerating replacement cycle of feature phones by smartphones as well as the new product technologies upgrade. Our R&D efforts in the related new technologies are on track and we are confident that these investments will yield good returns for AAC in the years ahead.”


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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, 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 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.

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 
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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