Hartcourt Companies (fka HRCT)

[asia]

China's top 100 electronic/information firms Jan-Oct profits up
Hongkong 02.12.03 (www.asia-economy.de) - AFX-ASIA -

BEIJING (AFX-ASIA) - China's top 100 electronic and information companies posted combined profits of 17.3 bln yuan for the first 10 months of the year, up 16 pct year-on-year, the China Electronics News reported.

Although the profits of the companies improved, most of them are still faced with falling sales prices and rising production costs, it said.

The newspaper said the 100 companies posted sales revenue of 472.4 bln yuan during the period, up 19 pct year-on-year, and total industrial output value of 475.7 bln yuan, up 20 pct.

Their combined operating revenue reached 520.3 bln yuan, up 19 pct year-on-year. They paid 14.9 bln yuan in income taxes, up 7.0 pct, the newspaper said.

Of the 100 companies, seven were in the red in the first 10 months, posting a total loss of 470 mln yuan, it said.

Sales of communications companies were up 33 pct and profits rose 111 pct but the paper did not give absolute figures.

Fixed-line subscribers rose by 40.92 mln to 255 mln as of the end of October from the end of last year, while mobile subscribers were up 50.93 mln at 257 mln.

Handset sales were up 60 pct year-on-year, with a sales-to-production ratio of 99 pct.

These companies produced 91.91 mln handsets in the first 10 months, and sold 91.16 mln units, including 35.1 mln through exports.

China Putian Corp, the country's largest telecom equipment supplier, made 43.72 mln handsets, sold 42.88 mln and exported 21.88 mln from January to October, the paper said, without giving comparative figures.

Shanghai SVA (Group) Co Ltd produced 10.14 mln handsets, sold 10.56 mln and exported 8.89 mln in the first 10 months, while TCL Corp manufactured 7. 87 mln and sold 7.69 mln. No comparative figures were given.

Shanghai Bell posted 1.12 bln yuan in exports, up 54 pct from a year earlier, while Huawei Technologies Co Ltd recorded a profit of 2.4 bln yuan.

ZTE Corp (SZA 000063), China's largest publicly-listed phone equipment maker, saw its revenue rise over 50 pct in the first 10 months, while other electronics companies, including Nanjing Panda Electronics Co Ltd (SHA 600775; HK 0553), Amoi Electronics Co Ltd (SHA 600057) and Huizhou Qiaoxing Group Co Ltd, also registered over 80 pct rise in sales revenues.

Of the 100 companies, home appliance firms posted a 15 pct increase in sale revenues for the first 10 months, while their profits fell 20 pct, with a gross profit margin of only 2.1 pct, the lowest among all the electronic/information sectors.

Television set companies manufactured 45.23 mln sets between January and October, while their sales were up 25 pct year-on-year at 44.59 mln units, and exports rose 37 pct to 15.24 mln units.

TCL Corp made 9.11 mln television sets in the first 10 months, up 51 pct from a year earlier, while its sales were up 42 pct at 8.68 mln units, and its exports were up 252 pct at 2.89 mln units.

Sichuan Changhong Electric Co Ltd (SHA 600839) produced 8.77 mln sets, sold 9.22 mln sets and exported 3.88 mln sets during the period, while Skyworth Group produced 6.6 mln sets, sold 6.14 mln sets and exported 1.57 mln sets. No comparative figures were given.

Output of color picture tubes was 24.88 mln units, while sales were up 18 pct at 24.55 mln units and exports were up 8.0 pct at 5.83 mln units.

Irico Display Devices Co Ltd (SHA 600707) made 9.31 mln, sold 9.33 mln and exported 2.14 mln color picture tubes, while Shanghai SVA (Group) made 5. 57 mln, sold 5.45 mln and exported 800,000 units.

Display companies produced 9.79 mln displays, while their sales were up 28 pct at 9.67 mln units, and their exports were up 55 pct at 3.92 mln.

BOE Technology Group Co Ltd (SZA 000725; SZB 200725) manufactured 2.87 mln displays, sold 2.8 mln and exported 880,000, while Suzhou Peacock Electronic Group Co Ltd made 4.36 mln, sold 4.28 mln and exported 2.67 mln units. No comparative figures were given.

Computer firms posted a 12 pct increase in sales revenues between January and October, but their profits dropped 10 pct, with a gross profit margin of 2.9 pct.

These firms produced 6.74 mln personal computers during the period, while sales were up 11 pct at 6.73 mln units.

Legend Group Ltd (HK 0992; ADR LGHLY) made 2.87 mln and sold 2.88 mln personal computers from January to October, Peking University Founder Group Corp made and sold 1.35 mln units, and Tsinghua Tongfang Co Ltd (SHA 600100) made 790,000 and sold 780,000 units. No comparative figures were given.

Software firms recorded a 4.0 pct year-on-year decrease in sales revenue in the first 10 months, while profits were down 38 pct, with a gross profit margin of only 2.2 pct.

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