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EQS-News: Digital China Announces FY2015 First Quarter Financial Results - Seizing the 'Internet Plus' Opportunity to Expedite the Construction of Sm@rt City

DJ EQS-News: Digital China Announces FY2015 First Quarter Financial Results - Seizing the 'Internet Plus' Opportunity to Expedite the Construction of Sm@rt City

(EQS-News / 28/04/2015 / 10:37 UTC+8) 
 
Press Release 
(For Immediate Release) 
 
Digital China Holdings Limited 
(Stock Code:00861.HK  910861.TW) 
 
Digital China Announces FY2015 First Quarter Financial Results 
 
Seizing the "Internet Plus" Opportunity to Expedite the Construction of 
Sm@rt City 
 
Results Highlights: 
 
For the three months ended 31 March 2015: 
The Group recorded revenue of HK$16.9 billion, a slight increase of 1.77% 
compared to the same period of last financial year. 
Gross profit margin was 7.18%, a year-on-year increase of 72 percentage 
points. 
Profit attributable to equity holders amounted to HKD171 million, a 
decrease of 13.80% compared to the same period of last year. Excluding the 
effect of exchange rate changes on the Company's profit, profit 
attributable to shareholders for the first quarter of 2015 increased by 
6.23%. 
 
 
(27 April, 2015, Hong Kong) Digital China (the "Group"; Stock Code: 
00861.HK; 910861.TW), the largest integrated IT services provider in China, 
today announced its financial results for the first quarter of fiscal year 
2015 ended on 31 March, 2015 (the "Period"). 
 
During the reporting period, China GDP growth slowed down and dropped to 
7%. Despite the pressure of the economy slowdown, the Digital China 
management continued to drive its key tasks and various measures relating 
to its transformation in a prudent manner and maintained stability in 
revenue and profit. During the first quarter of 2015, the Company reported 
revenue of approximately HK$16.90 billion, with a mild increase of 1.77 % 
compared to the same period of last year. Overall gross profit margin was 
7.18%, with a year-on-year slight increase of 72 basis points.  Profit 
attributable to shareholders amounted to approximately HK$171 million, 
representing a decrease of 13.80% compared to the corresponding period of 
last year.  Excluding the effect of exchange rate changes on the Company's 
profit, profit attributable to shareholders for the first quarter of 2015 
increased by 6.23%. 
 
Seizing the opportunities presented by Internet+ and proactively responding 
to the Nation's call for smart city construction, Digital China expedited 
the promotion of "one center and three platforms" throughout the nation and 
accelerated contracting and implementation of corresponding projects. 
During the first quarter of 2015, the Group entered into agreements in 
respect of Sm@rt City operations with Yibin, Longyan and Tianjin. The Group 
will further improve the construction and management of the integrated 
citizen service platform, integrated enterprise service platform and 
integrated city administration platform based on experience generated from 
operations, so as to lay a solid foundation to commence the platform 
operation in 100 cities in three years. Currently Digital China's "one 
centre and three platforms" Sm@art City business has entered into 
cooperation with 16 cities, with platforms launched in 6 cities, including 
the Chengdu platform that was signed up in the first quarter of this 
financial year. 
 
Driven by the trend of "Internet+", Digital China does not only seek its 
own transformation into an Internet-based corporation, but also get engaged 
in active cooperation with operators of existing large Internet platforms 
to explore models for close strategic cooperation, bringing together 
Digital China's technology in Sm@rt City platform and its rich experience 
through involvements in numerous Sm@rt City solutions over the years and 
well-developed user bases and efficient promotion provided by Internet 
platform operators to forge an Internet-based model for the Sm@rt City 
operation. Meanwhile, the Group will gradually develop Internet finance 
business to unleash the value embedded in our Sm@rt City Internet 
platforms. 
 
DCITS: Persistent Drive of Business Upgrade and Optimization, Fueling 
Strong Growth in New Business 
 
During the first quarter, the Company's Service Business reported revenue 
of HK$1.41 billion, with a 16.45% decline year-over-year. The Company 
persisted in strategic upgrade and business transformation. Within the 
Service Business, technical services, agricultural informatization, 
industry application software and equipment under owned brands reported 
revenue of HK$643 million, representing a 17.19% increase year-over-year. 
The Group continued to optimize its business mix and quality. During the 
first quarter of this financial year, the Company's gross profit margin 
grew by 531 basis points to 20.48% as compared with the corresponding 
period of last financial year, underpinning a notable improvement in 
profitability. 
 
The Group's technical service business reported revenue of HK$439 million, 
for the first quarter of this financial year, representing a 17.96% growth 
year-over-year. New customers signed up including Pudong Development Bank, 
Southwest Securities and China Merchants Securities. 
 
The agricultural informatization business reported a fourfold growth in 
signed contract compared with the corresponding period of 2014 as it seized 
market opportunities to expand its market coverage at a faster pace and 
made a major effort to realize business services for the registration and 
transfer of agricultural land use rights. In addition to Hebei Province, 
full-scale cooperation was sought in other regions of the country. 
 
Digital China Group: Achieving Overall Stability by Focusing on both 
Corporate IT and Consumer Electronics Sectors 
Digital China achieved a rapid growth and overall stability by persistently 
adopting market share management and business transformation, and seizing 
opportunities in sub-sectors. 
During the first quarter of the fiscal year 2015, revenue was HK$14.41 
billion, with a slight decline of 0.3% year-over-year. Overall gross profit 
margin was approximately 5.43%, a year-on-year increase of 53 basis points. 
The Consumer Business (formerly the Distribution Business), focused on the 
development of the omni-channel, and was affected by the lackluster demand 
of the offline distribution market. As a result, revenue of this segment 
dropped to HK$9.09 billion, an approximate 5.21% decrease year-on-year. 
Revenue of the international brand operations of the Corporate Business 
(formerly Systems Business) increased 221% year-over-year, resulting from 
the enhanced cooperation with major domestic brands, as well as the rapid 
expansion of online distribution business. 
 
Corporate Business (formerly System Business) optimized its business 
planning and continued to drive its business transformation based on its 
"owned brands" and "Cloud Computing" strategy. Against the backdrop of 
macro-economic slowdown and the government policy of "autonomy and 
controllability," the Group outperformed the market by sticking to its 
market share management and international business. As a result, the 
revenue decline for the international brand operations of the Corporate 
Business (formerly Systems Business) has been narrowed. Revenue of 
Corporate Business increased 9.35% to HK$5.33 billion and overall gross 
profit margin decreased by 63 basis points to 8.04% resulting from the low 
gross profit margin of the domestic brand. 
 
Supply Chain Management Strategy Unit: E-Commerce Business Continued to 
Grow Rapidly, Business Model Further Optimized, and Business Structure 
Moved towards a Stable Mix 
 
The Supply Chain Business was engaged in vigorous market development, 
reporting revenue for the first quarter of 2015 approximately HK$1 billion, 
with a year-on-year increase of 151.32% as compared with the corresponding 
period of last financial year. The overall gross profit margin of the 
Supply Chain Business for the first quarter was 8.40%, representing a 
year-on-year decrease of 651 basis points, reflecting a substantial 
increase in the percentage share of the E-Commerce business which commanded 
a lower gross profit margin. Three major segments of the Supply Chain 
Business, namely e-Commerce Supply Chain, Logistics and Maintenance, 
reported year-on-year revenue growth of 283.67%, 21.83% and 16.52% 
respectively. 
 
New Business based on "Internet+": speeding up developing the 
Internet-based Sm@rt City and Internet Finance BusinessesSm@rt City Service 
Group: Seizing the "Internet plus" Opportunities, Expediting the 
Implementation of Sm@rt City Operations. 
 
For Sm@rt City Businesses, in 2015, the Group continued to further promote 
the implementation of the Sm@rt, City by following four product-oriented 
principal themes of "My Government, My Life, My Payments and My 
Communications". 
 
Regarding the Sm@rt City project development, the Group entered into a 
Sm@rt City strategic cooperation agreement with Zhuhai Municipal 
Government, as well as a number of operating service contracts with a 
number of cities. The Sm@rt City revenue model has been further elucidated, 
Moreover, the Group successfully acquired equity interests in Fuzhou 
Rongcheng Universal Card Ltd. (Fu Zhou Rongcheng) which had issued 2 
million cards covering the entire transportation system of Fuzhou and 
certain points of its commercial retail network. The cooperation with 
Fuzhou Rongcheng represented an important step for the Group to explore the 
online and offline integration of the Sm@rt City model. 
 
For Internet Finance Businesses, the Financial Services business continued 
to make strong efforts in the development of the financial institution 
business, while product development at the sub-segments of financial 
leasing, factoring and micro-credit loans were also enhanced to provide 
customers with a greater variety of financial products. 
 
The financial leasing business has broadened its scope of business after 
obtaining the qualifications for operating lease-back businesses. It also 
actively explored the application of the finance lease model in PPP 
projects to generate synergies with the Sm@rt City Service Group by 
providing innovative financial services to the Sm@rt City operations of 
local governments. 
 
Digital China Hui Cong Micro-Credit Co., Ltd., the micro-credit loan 
business formed by the Group in joint venture with HC International, 
broadened its product portfolio with the development of "loans for trading" 
and etc. While exercising stringent control over credit risks, more 
diversified financing services were provided to members of hc360.com and 
customers of Digital China. The loan balance as at the end of March 2015 
exceeded RMB800 million. 
 
Management Outlook: Opportunities and Challenges Co-exists in the Future, 
Continuing to Deepen management and Control 
 
During the first quarter of 2015, the Group steadily advanced its business 
tasks and maintained stability in its revenue against the backdrop of the 
macro-economic downside and the ongoing impact of "Internet+" on the 
distribution and other business. Looking to the future, Mr. Yang Lin, CEO 
of Digital China, commented, "As we are facing new opportunities and 
challenges, we will carry on the steadfast implementation of our Sm@rt City 
strategy and vigorously develop new business models on the Internet 
platform, complemented by our strong efforts to develop high-margin and 
fast-growing new businesses such as IT technical services, agricultural 
informatization, supply chain and the financial institution business. 
Meanwhile, we will continue to strengthen our management and control with 
strong determination. Following the implementation of organizational and 
financial management, we will continue to optimize our corporate structure 
and formulate detailed provisions for the resources allocation to ensure 
the thorough implementation of the reorganization. The management will also 
continue to realize synergies based on the core Sm@rt City strategy, and 
create higher returns for our shareholders." 
 
The End 
 
About Digital China 
 
In 2000, to accommodating the development of the information industry in 
the era of internet, the original Legend Group was reorganized into two 
divisions, thereby Digital China was born. In 2001, Digital China was 
listed on the main board of the Hong Kong Stock Exchange (Stock Code: 
00861.HK). 
 
Since its establishment, Digital China has adhered to the objective of 
"Industry Serving the country" and the mission of "Digitalizing China". 
Through continuous innovation, a comprehensive IT services value chain is 
structured. Services involve areas such as IT planning consultation, IT 
infrastructure system integration, solution design and implementation, 
application design and development, outsourcing of IT system operation and 
maintenance, logistics maintenance and warranty, providing end-to-end 
integrated IT services to customers. As the largest integrated IT services 
provider in China, Digital China was widely recognized, as evidenced by its 
inclusion in "Forbes Asia's Fab 50 for four consecutive years", and 
"Fortune China 500" (Chinese edition) for five consecutive years. 
 
Prospectively anticipating the significant changes in the information 
industry, Digital China launched Sm@rt City Strategy 2010, in response to 
the macro trend of "industrialization, informatization, urbanization, 
agricultural modernization with Chinese characteristics". With four years' 
efforts, Digital China has become the No.1 brand of China's smart city 
construction, driving the development of the industry as well as Digital 
China's overall operation. 
 
Digital China Information Services Limited, Digital China's subsidiary, was 
listed in 2014 (Chinese Abbreviation: ????; English Abbreviation: DCITS; 
Stock Code: 000555.SZ). DCITS successfully acquired Zhongnong Xinda , a 
leading company in agricultural IT services in China, and thus published a 
new strategy in Sm@rt Country. These moves have enhanced Digital China's 
strategic position for "Sma@t City+Sm@rt Country" in digitizing China. 
 
For additional information about Digital China, please visit the Group's 
website at www.digitalchina.com.hk. 
 
For media inquiries: 
 
Selena Li                                        Gina Liu 
Digital China Holdings Limited                   PRChina Limited 
Tel: 86-10-8270-7192                             Tel: 852-2522-1838 
Email: lislc@digitalchina.com                    Email: gliu@prchina.com.hk 
 
 
End of Press Release 
 
+++++ 
 
 
Document: http://n.equitystory.com/c/fncls.ssp?u=AOPLYYQKAO 
Document title: Digital China Announces FY2015 First Quarter Financial 
Results 
 
=-------------------------------------------------------------------- 
 
Key word(s): Quarter Results 
 
28/04/2015 UTC+8 Dissemination of a Press Release, transmitted by EQS 
TodayIR - a company of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
Media archive at www.todayir.com 
 
=-------------------------------------------------------------------- 
 
 
349331 28/04/2015 UTC+8 
 

(END) Dow Jones Newswires

April 27, 2015 22:37 ET (02:37 GMT)

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