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EVOC Reports Record High Revenue During First Three Quarters of 2008 up 150% to RMB 771 Million

EVOC Intelligent Technology Company Limited
2008-11-06 11:16 1375

The Group’s Proprietary Intelligent Products Help Boost Process Automation in Diverse Industries

HONG KONG, Nov. 6 /Xinhua-PRNewswire/ -- China’s leading manufacturer of advanced process automation products, EVOC Intelligent Technology Company Limited ("EVOC" or the "Group") (HKEx: 8285) today announced its unaudited first three-quarter results for the period ended 30 September 2008.

During the review period, EVOC’s turnover surged 150% year on year to RMB771.17 million while profit attributable to equity holders rose by 22% year on year to RMB93.34 million. Basic earnings per share reached RMB0.075. The Board does not recommend the payment of a dividend at this time.

Mr. Chen Zhi Lie, Chairman of EVOC, said, "I am pleased that the Group has once again achieved impressive growths. EVOC, as a leading domestic brand in the advanced process automation industry, has greatly benefited from the industry’s sustainable growth which has been propelled by enormous demand for automation from China’s many different sectors."

As at the end of September 2008, the Group’s financial position remained strong and healthy with cash on hand amounting to RMB677 million and gearing at 33.7%. It has not been involved in any investment activities relating to financial derivative products.

EVOC boasts proprietary R&D capabilities that have resulted in its own patents and brand. During the review period, it continued to provide advanced process automation products and solutions to the rail transit, coal mine safety, environmental protection, telecom, manufacturing, finance, energy, video surveillance and internet sectors, among others.

The Group’s revenue for the period was largely derived from the China market. However, in the advanced process automation industry, China only represents 15% to 20% of the world market, and the margin for overseas markets is comparatively higher. EVOC therefore has plans for overseas expansion. During the review period, it participated in various well-known expositions in Germany, India, and Dubai to enhance the Group’s exposure and influence in international markets. Moreover, it conducted large-scale marketing campaigns and product promotions in relatively fast-growing markets such as the Middle East, Russia and India, and aims to set up branch offices in these areas in the future. It will also develop and launch pioneering products in order to quickly capture these markets.

The Chinese government has further exercised its "self innovation" legislative policy which encourages preferred purchases of the "self-developed innovative" products manufactured by domestic enterprises. EVOC, being the top domestic enterprise in the advanced process automation industry, is therefore expected to see a substantial increase in revenue from government orders. In addition, with the government’s push towards infrastructure development and concern on livelihood issues, the Group is expected to benefit from exponential growth of China’s key industries such as rail transit, coal mine safety, environmental protection, and 3G telecom.

During the review period, the Group secured a RMB15 million automation contract for the Beijing Metro Line 4 project. Prior to winning this project, it had just completed a contract for Beijing Metro Line 10 and is currently fulfilling a contract for Shanghai Rail Transit Line 1.

Mr. Chen concluded, "Under the favorable Chinese government policy, coupled with our effective overseas expansion plans, we will utilize our technological prowess to fully capture opportunities in these markets. From our leadership position in the Chinese market, we are confident in continuously realizing better results and delivering more promising returns to shareholders."

About EVOC Intelligent Technology Company Limited

EVOC Intelligent Technology Company Limited is an advanced automation product manufacturer boasting its own proprietary R&D capabilities, patents and brand. EVOC ranks No.1 among domestic brands in the Chinese industry and the fifth largest in the world. It is the only manufacturer from China among INTEL ICA members and enjoys a long-standing strategic cooperative relationship with INTEL. EVOC’s products are widely used in aiding automation in many different sectors spanning from finance, transportation, telecom, manufacturing, medical to energy and military, etc. Recently, rail transit, coal mine safety and environmental protection sectors also have enormous demand for EVOC’s products.

For more details about EVOC, please visit http://www.evoc.com.cn .

For Enquiries:

Strategic Financial Relations (China) Limited

Anita Cheung

Tel: +852-2864-4827

Email: anita.cheung@sprg.com.hk

Winnie Lau

Tel: +852-2864-4876

Email: winnie.lau@sprg.com.hk

Cherry Qiu

Tel: +852-2114-4960

Email: cherry.qiu@sprg.com.hk

Source: EVOC Intelligent Technology Company Limited
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