Profit Attributable to Owners of the Company Increases by 31% to HK$298 million
HONG KONG, Aug. 23, 2012 /PRNewswire-Asia/ --
Highlights :
Results Summary
Significant Developments
Anxin-China Holdings Limited ("Anxin-China" or "the Group"; Stock code: 1149.hk), the largest integrated solution provider of ISD ("Intelligent Surveillance, Disaster Alert and Rescue Coordination") systems in China, today announces its results for the six months ended 30 June 2012 ("1H2012").
The Group's turnover increased by 45% to HK$406 million, as compared to HK$279 million in 1H2011. Profit attributable to owners of the Company increased by 31% to HK$298 million (1H2011: HK$227 million). Fully diluted earnings per share amounted to 11.04 HK cents (1H2011: 8.72 HK cents), representing an increase of 27%. As at 30 June 2012, cash held by the Group amounted to HK$1,142 million (31 December 2011: HK$1,078 million). Cash flows generated from operations amounted to HK$212 million (1H2011: HK$184 million).
Mr. Liu Zhongkui, Chairman of Anxin-China, said, "Despite the adverse global economic backdrop in 2011 and 1H2012, the Group continued to see solid operating performance, resulting in strong turnover and profit growth. Not only is our performance a testimony to the Group's resilience to adverse economic conditions, but it also reflects the unrelenting demand for ISD systems thanks to the Central Government's bid to improve industrial and production safety across the nation."
"Notwithstanding our strong performance, it has to be reminded that the ISD industry is still at its infancy stage and there is more than ample room for continuing growth. In October 2011, the 'Safe Industrial Production 12th Five-Year Plan' was announced, in which the Central Government re-affirmed its determination and commitment to improving coal mining and industrial production safety. The Plan stipulates that local governments are expected to dedicate at least 5% of their annual budgets to support and facilitate the improvement of industrial production safety. This new measure is expected to further fuel the already rapid growth of the ISD market," concluded Mr. Liu.
About Anxin-China Holdings Limited (www.anxin-china.com.hk)
Listed on the Stock Exchange of Hong Kong, Anxin-China Holdings Limited (Stock code: 01149.hk) is principally engaged in the provision of hardware, software and equipment for industrial safety purposes. Its main product is ISD systems. It is the first and the largest ISD system provider and service operator in China. Unique to China, ISD systems are surveillance systems directly monitored by local governments to ensure coal mining and industrial production safety using Internet-of-things technologies. The Group's revenue sources mainly include: (1) customizing ISD solutions according to customer needs; (2) the provision of ISD hardware and software; and (3) ongoing ISD agency operations and maintenance services. The target customers of the Group are primarily government authorities, including the Administration of Work Safety, the Administration of Coal Mine Safety and the Production Safety Emergency Control Center, etc.
The Group is one of the pioneers and first movers of ISD systems in China and participated in the formulation of the standards of China's coal mining ISD system. It is also one of the earliest coal mining ISD system providers formally endorsed by the Chinese government. At present, the Group is the one and only ISD solution provider capable of providing multi-industry ISD systems. As at 30 June 2012, the Group's footprint spanned 10 provinces across 31 cities/counties in China with 18,434 surveillance points under coverage.
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