SIM Technology Profit Up by 81%
The significant increase in revenue was mainly due to continuing success in delivering ODM services to top tier handset customers and penetration into the 3G product segment, while the “high value added” strategy drove profit growth.
For the year under review, the basic earnings per share increased by 76.5% to HK15 cents (2009: HK8.5 cents). The Group continued to maintain a strong financial position with net cash balances amounting to HK$511.0 million (2009: HK$590.3 million) as at 31 December 2010.
Mr. Cho-Tung Wong, Executive Director of SIM Technology, said, “In 2010, our business grew rapidly, the result of having repositioned our business strategy in 2H 2008 to focus on high value-added and high growth market segments. We have endured difficult times. Now we have not only plateaued but bounced back to enjoy significant growth thanks to the trust and support from our international top-tier customers. We have thus successfully differentiated ourselves and taken the necessary actions to realise our goals.”
About SIM Technology Group Limited (“SIM Technology”)
Listed on The Stock Exchange of Hong Kong Limited, SIM Technology Group Limited is a leading developer of handset, wireless communication module and related application solutions in China. The Group and its subsidiaries offer multi-platform wireless communication terminal solutions, ranging from 2.5G, 3G to 3.5G. In the past few years, the Group has led the mobile phone and wireless communication module design industry in terms of revenue and profit.
Source: SIM Technology