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Thursday, 10 November 2016, 19:20 HKT/SGT

Source: Neo Telemedia Limited
Neo Telemedia Announces 2016 Third Quarter Results
- Turnover surges five times to HK$2.3 billion
- Profit increases to HK$ 176 million

HONG KONG, Nov 10, 2016 - (ACN Newswire) - Neo Telemedia Limited ("Neo Telemedia" or the "Company"; stock code: 8167, together with its subsidiaries, the "Group") is pleased to announce its unaudited results for the nine months ended 30 September 2016 today.

During the period under review, mainly driven by the business acquired in 2015, turnover of the Group surged five times against the same period last year to approximately HK$2,366,164,000 (2015: HK$399,750,000). At the same time, the Group recorded profit attributable to owners of the Company of approximately HK$176,179,000 (2015: Loss of HK$28,990,000) owed to the gain from disposal of the Hughes China Group completed during the period under review, and also profit contribution from Bluesea Mobile Group, Million Ace Group, Avatar Wealth and Bees Financial.

Sale of telecommunication products and services

Bluesea Mobile Group

During the period under review, Guangdong Bluesea Mobile Development Company Limited ("Bluesea Mobile") and its subsidiaries (collectively referred to as "Bluesea Mobile Group") completed the acquisition of 60% equity interest in Guangzhou Zituo Technology Company Limited ("Guangzhou Zituo"). Guangzhou Zituo mainly provides Internet Data Center ("IDC") services in the PRC and currently manages over 2,000 IDC server cabinets in various cities in the PRC, including Beijing, Shanghai, Guangzhou and Shenzhen. And, Bluesea Mobile Group has also kicked off its IDC project in Panyu where it started the construction of its IDC. The turnover contributed by trading of telecommunication products and provision of IDC, WIFI and value-added Internet services amounted to approximately HK$153.7 million for the period under review.

Million Ace Group

Million Ace Limited and its subsidiaries (collectively "Million Ace Group") mainly engage in trading of mobile phones, computers and relevant devices. Despite the worldwide slowdown in smartphone sales in 2016, Million Ace Group still managed to record turnover from sales of approximately HK$2.15 billion in the period under review.

Internet Finance Platform Business

During the period under review, the Group continued to expand the customer base of its Internet finance platforms operated by Guangdong Avatar Wealth Investment Management Company Limited ("Avatar Wealth") and Shenzhen Bees Financial Internet Financial Services Co. Ltd. ("Bees Financial"). Those platforms brought in revenue, constituting of service fee and commission, in the amount of approximately HK$52 million.


Regarding sale of telecommunication products and services, with the acquisition of Guangzhou Zituo completed, Bluesea Mobile Group saw an increase in its share in the IDC service market in the region. In addition, construction of its IDC in Panyu is expected to be completed by the end of this year or early 2017 for trial run to begin. Moreover, Bluesea Mobile Group has signed a strategic cooperation framework agreement with China National Offshore Oil Information Technology Limited ("CNOOIT") on joint development of a [first-class] information-based enterprise in China to set up IDCs and provide technologies and services in relation to Big Data applications. With Bluesea Mobile Group boasting edges in IDC, cloud computing and Big Data, and CNOOIT [excelling in] technology and resources, the management expects to develop business in the Hong Kong, Macau and overseas markets.

Looking ahead, the Group will continue to explore potential investment opportunities in IDC and cloud computing. With the PRC government supporting and launching policies favorable to these fast growing sectors, the management is very optimistic about the Group regaining growth momentum and achieving better results for shareholders in the foreseeable future.

About Neo Telemedia Limited (stock code: 8167)

Neo Telemedia Limited and its subsidiaries (collectively, the "Group") is a telecommunication group focusing on the Internet and big data sectors. The Group has been included as a constituent stock in MSCI China Small Cap Index since November 2015. Its wholly-owned subsidiary, Guangdong Bluesea Mobile Development Company Limited, has partnered with Shangdong Inspur Group to form a joint venture, Guangdong Bluesea Inspur Cloud Computing Company Limited to establish a large cloud computing centre in Southern China. In early 2015, the Group signed several agreements to explore various opportunities in WiFi access services, application of cloud computing and cross-border e-commerce business in the PRC. Additionally, Avatar Wealth and Bees Financial offer Internet finance platform business services. Shenzhou Aerospace Manufacturing Technology (Guangdong) Institute, which was jointly established by the Group, Shenzhou Aerospace Software Limited and Foshan Chancheng District People's Government, was registered as a non-profit organization at the Department of Civil Affairs of Guangdong Province on 23 October 2015. At the end of 2015, the Group completed a public offer and raised approximately HK$1.1 billion to be invested in the data center of Guangdong Bluesea Mobile Development Co., Ltd., including the Zhuxishugu project in Jiangmen.

For press enquiries
Strategic Financial Relations Limited
Joanne Lam Tel: +852-2864 4816 Email: joanne.lam@sprg.com.hk
Cecilia Shum Tel: +852-2864 4890 Email: cecilia.shum@sprg.com.hk
Jeffrey Tam Tel: +852-2864 4858 Email: jeffrey.tam@sprg.com.hk

Topic: Earnings
Source: Neo Telemedia Limited

Sectors: Media & Marketing, Daily Finance, IT Individual, Daily News
From the Asia Corporate News Network

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