SHENZHEN, China, May 20, 2021 /PRNewswire/ -- Appotronics Corporation Ltd. (Appotronics) (SSE Star Market listed company, Code: 688007) , a high-tech company in laser display field with original technology, fundamental patents and critical components producing ability, today published the Company's Annual Report for the financial year 2020 including the audited financial statements.
Last year, Appotronics achieved operating revenue of $302.68 million, approximately the same as that in 2019, and invested $31.68 million in R&D despite mounting pressure in performance, keeping reinforcing the development resilience through continuous innovation.
By the end of 2020, Appotronics had a total of 2,191 patent applications worldwide, of which about 70% are invention patents. The original ALPD® technology has been regarded as the development direction of new-generation laser display by the international industry, and has been cited by the industry and domestic and foreign enterprises more than 600 times.
Like many other companies, Appotronics has experienced an extraordinary year of 2020. The good news is that most of business sectors of Appotronics were advancing steadily in the first half of the year and the cinema sector quickly rebounded in the second half of the year. And the overall annual revenue was basically the same as the previous year, demonstrating good resilience.
Dr. LI Yi, founder and chairman of Appotronics, said in a letter to shareholders that they believe that only by meeting basic needs of customers and creating long-term profits for investors can they go through the ups and downs in this turbulent market.
Appotronics will continue to increase our IP asset-based operations, combine IP layout, IP protection, IP licensing with disruptive innovation to maintain our innovation edge, and conduct IP operations with an open mind and seek cooperation with head companies in various fields worldwide. Meanwhile, Appotronics will work with more partners to explore overseas markets and look for the next growth curve.
With the rise of the "In-house Economy", large-screen displays such as laser TVs and smart pico-projectors begun to attract public attentions. From this perspective, Appotronics continued to strengthen advantages in core devices, actively adjusted our business structure and focused on TO C business. Household business as a whole achieved revenue of $165.39 million, up 60.88% year-on-year, accounting for more than 50% of the total revenue for the first time, forming a new growth curve.
And by the end of 2020, more than 20,000 sets of ALPD® laser projection solutions have been installed in cinemas in China, with market share of cinema light source service maintained a steady growth, which represents that Appotronics has been an absolute market leader. In the meantime, education and engineering business achieved revenue of $57.46 million and gross profit of $20.19 million, up 10.05% year-on-year, continuing to maintain profitability.
In Q1 of 2021, Appotronics achieved revenue of $81.53 million, and net profits attributable to shareholder of the listed company of $8.45 million, soaring 308% year-on year, demonstrating a good beginning in 2021.
About Appotronics
Appotronics Corporation Ltd. is a Shanghai Stock Exchange (SSE) Star Market listed company (Code: 688007) and one of the leading technology company in the laser display field with in-house R&D, patented core technology, and critical components manufacturing capability.
Appotronics is one of the first SSE Star Market listed companies in China，and remains the first SSE Star Market listed companies in Guangdong Province, from the laser display field. Appotronics has headquarter and R&D center in Shenzhen with subsidiaries and offices in Beijing, Shanghai, Hong Kong, and North America.
Appotronics is true leader in the laser display field formed by the global R&D leaders from specialized areas such as optics, electronics, materials, physics, mechanical engineering, and precision manufacturing.
Appotronics invented its signature ALPD technology in 2007. This technology has become the mainstream technology in the international laser display field, and is the first to realize industrialization in the world. Appotronics has launched cinema, domestic, commercial, educational and other display solutions, and are widely used in cinemas, command scheduling, exhibitions, virtual simulation, outdoor lighting, stage performance, education, home and other fields. At present Appotronics is the fifth company worldwide and the first in China to manufacture laser digital cinema projectors that meet the DCI certification.
Known as the industry leader, Appotronics has established strategic partnerships with reputable global companies and brands. In 2014, Appotronics founded CineAppo with China Film to leverage the strength of both companies and formed a powerful partnership for digital cinema innovation in China. CineAppo relies on Appotronics'industry-leading laser light source technology and outstanding R&D team to drive digital cinema projection innovation in China. The mission of CineAppo is to become an one stop service solution provider through the integration of advanced R&D, manufacturing and distribution. We currently are #1 in market share of China domestic laser film light source deployment.
In 2018, Appotronics combined forces with Barco - a Belgian company and global leader of video and visualization solution provider for the entertainment and enterprise markets, and China Film formed a joint venture with Cinionic that continues to provide "global high-end cinema solutions".
New light, new life.
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