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Q Technology Made an Announcement of Positive Profit Alert

2017-06-23 09:00
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Expecting the Net Profit of interim results 2017 more than doubled year-on-year

KUNSHAN, China, June 23, 2017 /PRNewswire/ -- Q Technology (Group) Company Limited (Stock code: 1478.HK) made an announcement of a positive profit alert on 22 June 2017. Due to the robust growth of shipment of fingerprint recognition module ("FRM"), product mix enhancement of camera module ("CCM") and the exchange gain recorded, it's expected that the net profit of first half 2017 could surged more than double year-on-year.

During the first five months, the unit shipment of CCM grew steadily at 17.67% year-on-year. Moreover, optimization of product mix continues parallelly with the shipment growth, total shipment of 13 mega pixels and above CCM reached 46.23% of the total shipment of CCM segment, much higher than that of 14.21% of the same period last year, representing a high-quality growth.

Regarding the FRM business, total shipment of the first five months has reached 28.35 million units, surged 22 times year-on-year, and achieved 47.25% of the full year shipment target. This exceptional performance achieved in traditional low season reflecting the recognition from the customers on the company's R&D and manufacturing capabilities, helping the company to get into the tier-one suppliers list.

In the meantime, as many kinds of materials used in production of the Company were purchased from overseas and paid in U.S. dollar, but most of sales are settled in RMB, the rise in the exchange rate of RMB against U.S. dollar for the five months ended 31 May 2017 has resulted in foreign exchange gain.

The positive profit alert is only based on the information currently available to the Company and the unaudited management accounts of the Group for the five months ended 31 May 2017, which have not been reviewed or audited by the independent auditors and/or the audit committee of the Company and still subject to future adjustment. Shareholders of the Company and potential investors are to be advised to exercise caution when dealing in the shares of the Company.

About Q Technology (Group) Company Limited (Stock Code: 1478.HK)

Q Technology is a China leading mid-to-high end mobile terminal camera module and fingerprint recognition module manufacturer, which is one of the first few manufacturers in China master the know-how in mass producing ultrathin camera modules with resolution over 16 mega pixels, dual camera modules and multi-type fingerprint recognition modules. Q Technology is dedicated to provide machine vision and human vision to mobile terminals by the persistent pursuit of capabilities in optics, computing vision and deep learning, and actively expanding its product offerings to new market segments, such as augmented reality (AR), virtual reality (VR) and automobile.

For enquiries, please contact the investor relations team of the Company at:

Richard Fan, E-mail: richard.fan@ck-telecom.com
Louis So, E-mail: louis.so@qtechglobal.com
Cai YanQing, E-mail: yanqing.cai@qtechglobal.com 

Source: Q Technology (Group) Company Limited

Related stocks: HongKong:1478

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