Asian Spectator

.
Business Advice

.

Octa’s compelling Ramadan 2023—Memories which become templates for the future

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 27 March 2024 - It is time to recall all the Ramadan initiatives the international broker Octa has launched and curated throughout the last year. C...

1MORE Unveils QuietMax Technology Suite for ANC Series Recei...

SAN DIEGO, Sept. 9, 2020 /PRNewswire-AsiaNet/ -- 1MORE's QuietMax active noise cancellation technology changes the way headphones deliver ANC by combining hybrid ANC technology, dual driver ...

Hello, Fuzhou! Accelerating the construction of the modern cos...

FUZHOU, China, May 23, 2022 /Xinhua-AsiaNet/-- On May 21st, local time in the United States, the promo film of Fuzhou City in Fujian Province boarded on the "China screen" at Times Square in...

Tiger Brokers NZ unveils app to help Kiwis invest globally

AUCKLAND, New Zealand, Aug. 7, 2019 /PRNewswire-AsiaNet/ -- The Fintech-driven New Zealand company Tiger Brokers (NZ) Limited (TBNZ) is set to enable Kiwi investors dip their toes into multi...

Rohde Schwarz consistently aligns business performance for f...

MUNICH, Nov. 3, 2021 /PRNewswire-AsiaNet/ -- The Rohde and Schwarz technology company ends a successful 2020/2021 fiscal year despite ongoing global economic challenges. With its cutting-edg...

Reckitt set up ‘Dettol Disinfection Zone for online purchases pickup’ in nearly 90% of HKTVmall O2O shops and three HKTVmall supermarkets in Hong Kong

Turned over a new page of partnership with the largest online shopping mall in Hong Kong to jointly protect the new retail experience HONG KONG SAR - Media OutReach - 16 May 2022 - Reckitt...

Cedar Holdings King Cheung: Guangzhou brings up Cedar Holdings...

GUANGZHOU, China, April 4, 2019 /Xinhua-AsiaNet/-- On April 3, the 2019 Guangzhou Annual Investment Conference, China was held at the Baiyun International Convention Center. The annual meeti...

ZTE wins three Lightwave Optical Network Innovation Awards at ...

SHENZHEN, China, March 10, 2020 /PRNewswire-AsiaNet/ -- ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology soluti...

Appian sells Brazilian companies, Atlantic Nickel and Mineraçã...

LONDON, Oct. 26, 2021 /PRNewswire--AsiaNet/- Highlights -Appian agrees sale of wholly owned Atlantic Nickel and Mineracao Vale Verde to Sibanye-Stillwater for:- US$1.0 billion in cash, and;-...

Niche-Tech Group Limited Announces 2019 First Quarterly Results

Niche-Tech Group Limited Announces 2019 First Quarterly Results
HONG KONG, May 8, 2019 - (ACN Newswire) - Niche-Tech Group Limited ("Niche-Tech" or the "Company", with its subsidiaries collectively referred as the "Group"; HKEx Stock Code: 8490.HK), a leading semiconductor packaging materials manufacturer, today announced its first quarterly results for the three months ended 31 March 2019 (the "Period").

Performance Highlights- Revenue of the Group increased by 31.5% to approximately HK$45.9 million for the three months ended 31 March 2019 (Three months ended 31 March 2018: approximately HK$34.9 million). - Gross profit of the Group grew by 32.6% to approximately HK$8.8 million for the three months ended 31 March 2019 (Three months ended 31 March 2018: approximately HK$6.6 million).- Gross profit margin increased to approximately 19.2% for the three months ended 31 March 2019 (Three months ended 31 March 2018: approximately 19.0%).- Profit attributable to owners of the Company for the three months ended 31 March 2019 was approximately HK$0.6 million (Three months ended 31 March 2018: approximately HK$0.7 million).

During the Period, the growth of semiconductor product industry had continued, which had driven the constant growth of the demand for semiconductor packaging materials. Besides, the price of bonding wire and encapsulant mostly maintained at a stabilised level. By implementing its core business strategies and catching up to industry demand, the Group has gained satisfactory business performance during the Period, with its revenue and gross profit achieved a 31.5% and a 32.6% growth, reaching HK$45.9 million and HK$8.8 million respectively.

In addition, the Group has continued to enhance its production capability during the Period by acquiring more machineries and upgrading its facilities. Its new encapsulant production line, which has been installed in June 2018, has commenced trial run and is expected to enhance the production capability of the Group further and drive the Group's business growth accordingly.

Business Review

Revenue AnalysisThe Group's revenue principally represents income derived from its main products, namely bonding wire and encapsulant. During the three months ended 31 March 2019, the revenue of encapsulant products recorded an increase of 72.9% to approximately HK$5.2 million during this Period from approximately HK$3.0 million during the corresponding period of last year, mostly due to an increase in sales of LED epoxy. The revenue of bonding wire products recorded an increase of 27.4% to approximately HK$38.3 million during the Period from approximately HK$30.1 million during the corresponding period of 2018, mostly due to the increase of sales in high gold composition bonding wire products.

Cost of Sales, Gross Profit and Net ProfitThe Group's cost of sales mainly comprised direct material costs, direct labor costs and manufacturing overhead. During the Period, the Group recorded cost of sales of approximately HK$37.1 million (Three months ended 31 March 2018: approximately HK$28.3 million).

The gross profit of the Group grew from approximately HK$6.6 million for the three months ended 31 March 2018 to approximately HK$8.8 million for the three months ended 31 March 2019, representing an increase of approximately 32.6%. Gross profit margin increased to approximately 19.2% for the Period (Three months ended 31 March 2018: approximately 19.0%).

Profit attributable to owners of the Company of for the Period was approximately HK$0.6 million (Three months ended 31 March 2018: approximately HK$0.7 million).

Mr Chow Bok Hin, Executive Chairman and Executive Director of the Group concluded, "Despite being a traditionally slack season, we are happy to see that the Group was abled to achieve a stable business growth in the first quarter of 2019. Looking forward, to meet the rising demand from the market, we will continue to put efforts on the expansion of production capability and the development of new products. In addition, we will devote more resources to increase sales and marketing activities, in the aim of further promoting Niche-Tech's corporate profile and driving business growth. We will also assess new business opportunities prudently, so as to create maximum return to the Shareholders and to facilitate the long-term growth of the business of the Group."

Topic: Press release summarySectors: Daily Finance, Daily News[1][2] http://www.acnnewswire.com From the Asia Corporate News Network

Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

References

  1. ^ Daily Finance (www.acnnewswire.com)
  2. ^ Daily News (www.acnnewswire.com)

Authors: ACN Newswire

Read more http://www.acnnewswire.com/press-release/english/51631/

Magazine

Disparitas pemidanaan: mengapa pelaku kekerasan seksual bisa mendapat hukuman berbeda-beda untuk kasus serupa?

Ilustrasi korban kekerasan seksual.Tinnakorn jorruang/ShutterstockPraktik hukum di Indonesia masih menunjukkan adanya disparitas pemidanaan, yakni ketika ada dua orang atau lebih melakukan tindak pida...

8 aspek penting untuk memastikan keberlanjutan industri nikel dari hulu ke hilir

Isu mengenai hilirisasi nikel Indonesia tengah panas beberapa tahun ke belakang. Ambisi Presiden Joko Widodo untuk menjadikan Indonesia sentra produksi baterai kendaraan listrik (EV) dunia membuat akt...

Gangguan dismorfik tubuh: apa yang perlu kita ketahui tentang kondisi kesehatan mental ini

Selebritas Megan Fox dalam sebuah wawancara dengan Sports Illustrated mengungkapkan bahwa dia memiliki dismorfik tubuh (body dysmorphia). Fox mengatakan: “Saya tidak pernah melihat diri saya sep...



NewsServices.com

Content & Technology Connecting Global Audiences

More Information - Less Opinion