Profit attributable to shareholders sharply increased by 75.51%
HONG KONG, Nov. 13 /Xinhua-PRNewswire/ -- The major developer and provider of video security system solutions in the PRC, Nanjing Sample Technology Company Limited ("Sample Technology" or the "Group", stock code: 8287) today announced the third-quarter results of the Company and its subsidiaries (the "Group") for the nine months ended 30 September 2008 (the "Review Period").
During the Review Period, the growth of the results of Sample Technology was remarkable. The Group's turnover reached approximately RMB232,810,000 (corresponding period of 2007: RMB 101,657,000), representing an increase of approximately 129.02% over that of the corresponding period of last year. Gross profit surged to RMB100,252,000 from RMB 65,840,000, representing an increase of 52.27%. Net profit for the period amounted to RMB74,331,000, representing an increase of 75.99%.
The growth was mainly attributable to the decreasing cost of raw materials due to the recent economic situation and the contribution of the newly acquired wholly owned subsidiary - Jiangsu Intellitrans Company Limited.
With regards to the development of new products, the Group strived to respond to changing market trends. During the period under review, the operation and production system platform of the Group had reached the testing stage after going through a full-scale modification exercise. Investment in the construction of the Hangzhou-Ningbo ECL (electronic customs lock) project was confirmed and it was decided that phase-one operations would commence at three locations in Hangzhou (namely Yiwu, Jindongand Dongyang) and four locations in Ningbo (namely Terminals II, III and IV in Beilun plus Daxie).
During the period under review, the Group won tenders for the following projects: system upgrade implementation for Sichuan Chengle Road Monitoring Centre, the communications pipeline project for Huhhot Outer Ring Expressway (a key section of Danla National Expressway in Inner Mongolia), the implementation of mechanical and electrical (''M&E'') projects for the Xianju and Yongjia sections of Zhuyong Highway in Zhejiang, the operational information system project of Zhejiang Communications Investment Group Co., Ltd., the implementation of the toll road vehicle licence plate identification project of Shannxi Provincial Communication Construction Group, the networks integration project and service station integrated management software project for service stations along Shanghai-Nanjing Expressway, and the integrated management system upgrade project for Shanghai-Nanjing Expressway Company Limited.
With regard to research and development of new products, the Group continued to increase investments in technologies and bolster its strengths in top-level technical expertise. Our high-definition ePolice system and provincial intranet system for customs checkpoints were favourably received by users upon market launch. Research and development was progressing in an orderly manner for other products urgently required by the market, such as the high-definition customs checkpoint system and the inter-zone speed detection system. These cutting-edge products, to be launched by the end of the current year or early next year, are expected to provide the Group with a new niche for profit growth.
Chairman of Nanjing Sample Technology Company Limited Mr. Sha Min said," To ensure continuous enhancement of its ability to expand, the Group was stepping up with efforts to transform and innovate its marketing approach and bringing in reinforcements for its marketing team. Teamwork was strengthened in project operations and efforts were focused on prominent projects with high margin and significant weighting, such as the provincial intranet system for customs checkpoints, for which marketing efforts with various provincial/municipality governments were rewarded with positive results."
Looking into the forth quarter, Mr. Sha Min added," We will actively cooperate with China Customs in the trial projects for front-end integration at Tianjin Customs and Beijing Customs. There are plans with China Customs to finalise a reporting and briefing system that provides relevant China Customs officers with regular updates on project progress and the Group's new product development relating to customs operations. We also plan to present our export and bulk cargo system solutions to China Customs in a move to open up new markets, while further efforts will be made to promote the application of electronic license plates. "
For further information, please contact:
Porda International (Finance) PR Co., Ltd.
Ms. Keely Chan / Ms. Alman Loong / Ms. Kate Lam / Ms. Jenny Yung
Tel: +852-3150-6761 / +852-3150-6731 / +852-3150-6738 /
+852-3150-6735
Email: keely@pordafinance.com.hk / alman@pordafinance.com.hk /
kate@pordafinance.com.hk / jenny@pordafinance.com.hk
