China All Access Recorded Strong Growth for 2010 Interim Results
Profit for the Period Increased by 63% to RMB 34.7 Million
Promoting wireless data communication products to become industry standards
Exploring new market opportunities for satellite communication business
HONG KONG, Aug. 30 /PRNewswire-Asia/ --
Financial Highlights
For the six months ended 30 June
2010 2009 Growth
RMB '000 RMB '000 (%)
Revenue 129,094 81,841 57.7%
Gross profit 52,633 31,642 66.3%
Gross profit margin 40.8% 38.7% 2.1% pts
Profit from operations 40,550 28,524 42.2%
Profit before tax 40,398 25,071 61.1%
Profit for the period 34,653 21,273 62.9%
Net profit margin 26.8% 26.0% 0.8% pts
Basic earnings per share
(RMB cents) 3.3 2.8 17.9%
CHINA ALL ACCESS (HOLDINGS) LIMITED ("China All Access" or the "Company", HKEx Stock Code: 633), an integrated information communication application solution provider and application service provider in the PRC, announces its interim results for the six months ended 30 June 2010.
For the six months ended 30 June 2010, revenue of the Company increased to approximately RMB 129.1 million (1H2009: RMB 81.8 million), representing an increase of 57.7% year-on-year, driven by the strong market demand. Gross profit of the Group reached RMB 52.6 million (1H2009: RMB 31.6 million), representing an increase of 66.3% year-on-year. Profit for the period increased by 62.9% to RMB 34.7 million (1H2009: 21.3 million). Net profit margin grew to 26.8%. Basic earnings per share were RMB 3.3 cents (1H2009: RMB 2.8 cents). The board of directors recommends the payment of an interim dividend of HK 1.0 cent per share for the six months ended 30 June 2010.
As a solution and service provider for public security and emergency operations in the PRC, the Group provides one stop solution to our customers. The Group not only sells whole set of equipment, but also provides software development, network access, system upgrade, operation maintenance and other services according to individual customer's needs. This distinctive strategy, together with the pursuit for the most advanced technology in the world, enables China All Access to be a pioneer in the industry. More and more of the Group's application systems and solutions are penetrating into the market and the name of "All Access" has become a brand well recognized in quality and service.
For the period under review, the provision of satellite communication application solutions and services exhibited an increase in revenue from RMB 48.2 million in 2009 to RMB 59.3 million in 2010, representing a growth of 23%. The high double-digit increment was attributable to the strategies of penetrating into new industries and expanding market share in the existing industries. Capitalizing on the opportunity of modernizing the government's emergency communication systems to cope with the security requirement of Shanghai Expo, the Shanghai office of the Group contributed 14% of this segment's revenue. As a result, five municipal government bureaus used altogether seven systems of the Group to support their security protection mission in this international event. Moreover, it stimulated the Group's sales in two other autonomous cities, namely, Beijing and Tianjin, and reported revenue growth of 23% and 100% respectively.
Provision of wireless data communication application solutions and services exhibited a remarkable increase in revenue from approximately RMB 31.6 million in 2009 to approximately RMB 67.6 million in 2010, representing an increase of approximately 138%. The key growth driver was the sales of production monitoring system and traffic offence electronic ticketing and payment solution, representing 92% of the segment's revenue. The satisfactory sales was attributable to the sales and marketing effort of the Group's nationwide network in different local markets and the increasing demand of the products promoted by the user-friendliness of 3G technology.
With products being deployed in Beijing Olympics, Hainan Boao Forum for Asia Shanghai F1 race and other major events in the past few years, the Group continued to provide a number of satellite communication application systems to its customers, who were the mission execution government departments of Shanghai Expo this year. Having products showcased in important events such as Shanghai Expo is essential for marketing the Group's brand in the industry. Besides, the Company partnered with a wide range of specialized technology vendors, such as BINZ Ambulance-und Umwelttechnik GmbH, RaySat Antenna Systems Israel Ltd and ITwell Co. Ltd to deliver state-of-the-art products to our customers. Based on the regional hubs in Beijing, Shanghai and Guangzhou currently, the Group had set up more than 20 offices all over the country. The massive sales and marketing network assisted the Group to build up strong presence in all local markets. As a result, more sales opportunities can be identified to increase the Group's growth momentum.
Looking forward, China All Access is proactively promoting its products in the wireless data communication industry to become industry standards in order to enhance its competitiveness. Alongside with further market penetration, the Group expects that it will continue to be the key growth driver. Beyond that, the Group is exploring the market opportunity of satellite communication application in the mass market by co-operating with a nationwide telecom operator.
Mr. Shao Kwok Keung, Chief Executive Officer and Executive Director of China All Access said, "Being supported by our powerful nationwide sales and marketing network and partnership with advanced technology vendors, we have been spearheading into different industries by launching successful applications. Coupled with the application of our products by our customers in various major domestic and international events, we have become a well-known brand in the market. With the increasing recognition of the advantage of satellite communication system in emergency operations and security protection, the users involved in these industries will continue to upgrade their existing systems as well as install more sophisticated systems by sourcing products which enable them to use the most advanced technology. We will strive to be a solution and service provider across different networks, different platforms and different markets."
About China All Access
China All Access is engaged in providing application solutions and application services for public safety, city emergency communication and city integrated management purposes for governmental departments or agencies, public utilities institutions and business enterprises. The core module of the Company's integration application platform is called "ALL ACCESS platform". It acts as a centralized data processing unit, where data received through connections from different application solutions are processed and transmitted in different mode depending on the users' different needs. The Group's application solutions are mainly divided into three categories: satellite communication application solutions, wireless data communication application solutions and call centre application solutions. In addition, the Group also sells and distributes terminal equipment.
For further information, please contact:
Porda International (Finance) PR Company Limited
Ms. Kylie Yeung
Tel: +852-3150-6770
Email: [email protected]
Ms. Karina Ng
Tel: +852-3150-6737
Email: [email protected]
Ms. Abbey Zhao
Tel: +852-3150-6752
Email: [email protected]
Fax: +852-3150-6728
SOURCE China All Access (Holdings) Limited
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