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| Solid Performance from Non-Acoustic Segments; Contribute more than 35% of Q1 Sales |
HONG KONG, May 11, 2015 - (ACN Newswire) - AAC Technologies Holdings Inc. ("AAC Technologies" or "the Company"; HKEx: 02018), a world-leading miniature technologies solution provider, today announced its unaudited first quarter results for the three months ended 31 March 2015.
AAC Technologies began its 10th year of being a listed company with the highest sales and earnings in any first quarter in the company's history. With our broad product portfolio, revenue and gross profit in the January to March quarter were up 24% and 28% year-on-year to RMB 2,305 million and RMB 956 million respectively. The focus on execution, automation and cost reduction enabled gross profit margin to increase 1.3 percentage points to 41.5%. The non-acoustic segment continued to deliver more than 35% of sales in the first quarter 2015, consecutively, particularly the continued growth of the RF Mechanical solutions business. Net profit grew 25% to RMB 606 million.
Mr. Benjamin Pan, Chief Executive Officer of AAC Technologies, said, "Competition is driving handset manufacturers to deliver devices best suited to what the market desires. Our strong design and production capabilities, aligned with high production automation and efficiency and backed by a consistent high level of investment in R&D, enable us to provide solutions that fit diverse needs from customers in terms of technology upgrades and innovation in different tiers of models. In this way we can win a higher market share in the non-acoustic segments and solidify our leadership in the audio segment. We are committed to identify and evaluate appropriate opportunities to invest in other global technology companies that will create synergy with the Company's existing technology capabilities, such as the recent acquisition of WiSpry, Inc."
About AAC Technologies Holdings Inc.
AAC Technologies is a constituent stock of Hang Seng Corporate Sustainability Index, Hang Seng Mainland 100 Index, Hang Seng Composite LargeCap Index, Hang Seng Composite Industry Index (Information Technology), MSCI China Index and FTSE Hong Kong Index.
AAC Technologies is an established designer, developer and manufacturer providing a range of miniaturized innovative technology solutions integrating acoustic and non-acoustic segments. Acoustic solutions include speakers, receivers and MEMS microphones. Non-acoustic solutions include haptics vibrators, RF and antennas, and optical lenses. The Company's products are found in mobile devices, including smartphones, tablets, wearables, ultrabooks, notebooks and electronic book-readers. The Company is global in scope with research and development centers and has established sales offices in key markets serving a large number of geographically diverse customers in the consumer electronics market.
www.aactechnologies.com
FORWARD-LOOKING STATEMENTS
This press release may contain certain statements that are forward-looking or which use certain forward-looking terminologies. These forward-looking statements are based on the current beliefs, assumptions and expectations of the Company regarding the industry and markets in which it operates. Actual results may differ materially from expectations discussed in such forward-looking statements and opinions. The Group, the Directors, employees and agents of the Group assume (a) no obligation to correct or update the forward-looking statements or opinions contained in this press release of the Company; and (b) no liability in the event that any of the forward-looking statements or opinions do not materialise or turn out to be incorrect.
Contact:
AAC Technologies Holdings Inc.
Connie Chin
Head of Investor Relations
Tel: 852 3470 0079
Email: ConnieChin@aactechnologies.com
For press enquiries:
Strategic Financial Relations Limited
Vicky Lee Tel: 852 2864 4834 Email: vicky.lee@sprg.com.hk
Cecilia Shum Tel: 852 2864 4890 Email: cecilia.shum@sprg.com.hk
Winkie Wong Tel: 852 2114 4319 Email: winkle.wong@sprg.com.hk
Fax: 852 2527 1196
Topic: Press release summary
Source: AAC Technologies Holdings Inc.
Sectors: Daily Finance
https://www.acnnewswire.com
From the Asia Corporate News Network
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