Stock Abbreviation: Q TECH
Stock Code: 1478.HK

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Q Technology (Group) Company Limited Announces 2016 Interim Results 2016-08-19

[PRESS RELEASE - FOR IMMEDIATE RELEASE]

 

       丘鈦科技(集團)有限公司
Q Technology (Group) Company Limited

(股份代號 Stock Code:1478.HK)

 

Announces 2016 Interim Results

***

Sales volume and sales income of camera modules nearly doubled

Profits recorded rapid growth

 

Results Highlights

RMB’000

Audited results for six months ended 30 June

 

2016

2015

Change

Revenue

1,727,031

868,749

+98.8%

Gross Profit

161,365

111,539

+44.7%

Profit of the Year

82,194

63,014

+30.4%

Gross profit margin

9.3%

12.8%

-3.5ppt

Shipment volume of camera modules(units)

-       mid-to-high end camera modules with resolutions of 8 mega pixels and higher

Approx. 74.08 milion

Approx. 46.43 million

 

 

+100.2%

+309.6%

 

Shipment volume of fingerprint recognition module (units)

 Approx. 1.40 milion

 

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(19 August 2016, Hong Kong) Q Technology (Group) Company Limited (“Q Technology” or the "Company", stock code: 1478, or together with its subsidiaries collectively referred to as the "Group"), one of the leading PRC-based camera module and fingerprint recognition module suppliers focusing on mid-to-high end branded smartphones and tablet PCs in the PRC, is pleased to announce the unaudited interim results of the Group for the six months ended 30 June 2016 (the “Period”).

 

During the Period, with the support and trust of the Group’s core customers and the relentless efforts of all employees of the Group, both the sales volume and sales income of the Group increased rapidly. Of which, the sales volume of camera modules reached approximately 74,080,000 units, an increase of approximately 100.2% as compared with the same period in 2015 (“Corresponding Period”) and a growth of approximately 20.7% as compared with the second half of 2015. The sales volume of fingerprint recognition module reached approximately 1,400,000 units, an approximately 192-fold growth as compared with the second half of 2015. The sales income of the Group amounted to approximately RMB1,727,031,000, an increase of 98.8% as compared with approximately RMB868,749,000 in the Corresponding Period, a growth of approximately 29.5% as compared with approximately RMB1,333,646,000 in the second half of 2015. The profit of the Group amounted to approximately RMB82,194,000, representing an increase of 30.4% and 100.83% as compared with approximately RMB63,014,000 in the Corresponding Period and RMB38,985,000 in second half of 2015 respectively. Stunning results and encouraging performance achieved.

 

Sales growth led by mid-to-high end products

 

During the Period, the Group has proactively responded to the market demand of high pixel products in developing the mid-to-high end camera modules with resolutions of 8 mega pixels and higher, the total sales volume of which has significantly increased by approximately 309.6% to approximately 46.43 million units as compared with the Corresponding Period, the total sales volume of which accounted for 61.5% of the Group’s total sales volume for the Period (the Corresponding Period: 30.6%), whilst the total revenue of which accounted for 75.5% of the Group’s total revenue for the Period (the Corresponding Period: 47.2%). The sales volume of fingerprint recognition modules amounted to approximately 1.4 million units, the sales volume of which accounted for 1.8% of the Group’s total sales volume for the Period (which sales had not yet commenced in the Corresponding Period), whilst the revenue of which accounted for 2.4% of the Group’s total revenue for the Period (which sales had not yet commenced in the Corresponding Period). The significant increase in the sales volume of higher pixels camera modules has demonstrated the market recognition of the Group’s high-end products, which allowed it to be more competitive in the high pixels products segment and laid a foundation for further increasing the shipment volume of products with resolution of 13 mega pixels and higher in future.

 

Since the cooperation with new customers such as Xiaomi in 2015, the Group has started mass production of its new customers’ products and delivered satisfactory performance. In addition, the Group has established business relationships with numerous renowned branded smartphone manufacturers in China such as vivo, OPPO, Huawei and Letv for its dual camera modules and/or fingerprint recognition modules products, which has demonstrated good customer relationship management and sales capabilities of the Group, as well as further the optimization of the customer base of the Group and laid a good foundation for the subsequent business development of camera modules and fingerprint recognition modules.

 

Continuous shipments for high-end new products

 

During the Period, the Group reviewed and improved its production know-how continuously and was dedicated to developing more advanced technologies and products. On one hand, the Group had established cooperation with global leading fingerprint recognition chips suppliers such as Fingerprint Cards AB (“FPC”) from Sweden, Goodix and Synaptics successively, which greatly improved its ability to launch new products featuring the fingerprint recognition modules. On the other hand, the Group constantly enhanced the Group’s R&D efforts, production capacity and customer base, which enables the Group to become one of the first few camera module manufacturers in China with large sales volume in dual camera, PDAF, gesture recognition, iris recognition, high-end module with resolution of 16 mega pixels and higher.

 

Chairman and Executive Director of Q Technology, Mr. He Ningning said, “Looking ahead, we will continue to exhibit our proactive attitudes for business growth. Overseas mobile players may work hard to gain back lost market shares in second half of 2016, together with the highly saturated smartphone market in China which may affect the overall growth rate of the industry in the future. We feel positive about the growing demand on functionality of smartphones and other smart mobile communication terminals from customers, as this will help enhance specifications and expand market size for camera modules. At the same time, with the growing demand for higher security towards smart mobile communication terminals such as mobile phone, fingerprint recognition modules are expected to become the standard equipment for mid-to-high end smartphones and therefore stimulate the rapid growth of fingerprint recognition modules business. Meanwhile, we will prepare for camera modules that are used for augmented reality (AR), virtual reality (VR) and 360° pan-shot. The Directors are confident to lead the Group to embrace the challenges, and make further efforts to achieve good development and strive to create greater value for the shareholders of the Company.”

 

 

- End -


 

About Q Technology (Group) Company Limited

 

Q Tech is a leading PRC-based camera module and fingerprint recognition module manufacturer focusing on mid-to-high end camera module and fingerprint recognition module market for Chinese branded smart phone and tablet PC manufacturers. Q Tech is one of the first few manufacturers in China to produce ultra-thin camera modules with resolution of 16 mega pixels and 20 mega pixels on a mass production scale. Q Tech is also one of the few manufacturers in the PRC that masters various technologies and processes for mass production of fingerprint recognition modules and dual cameras modules.

 

For enquiries, please contact LBS Communications Consulting Limited:

Joanne Chan

Tel:(852)3679 3671

E-mail:jchan@lbs-comm.com

Janice Liu

Tel:(852)3752 2675

E-mail:jliu@lbs-comm.com

Stella Chan

Tel:(852)3752 2673

E-mail:schan@lbs-comm.com