HONG KONG, Mar 24, 2022 - (ACN Newswire) - Vertical International Holdings Limited, stock code 8375.HK ("Vertical International" or "The Group") reported 2021 Annual Results for the year ended 31 December 2021. The Group's 2021 total revenue was HK$132.5 million, a rise of 37.6%, from approximately HK$96.3 million in 2020. Sales of the Group's self-manufactured aluminum electrolytic capacitor products increased substantially from approximately HK$78.2 million in 2020 to approximately HK$105.0 million in 2021. The 2021 gross profits grew by 53.3% or HK$8.1 million year on year to approximately HK$23.3 million.
Vertical International derived its 2021 revenue mainly from sales of manufactured aluminum electrolytic capacitors and sales of trading electronic components. The growth of sales revenue was also attributable to the Group's business expansion with key and new customers and its aggressive pricing strategy to enlarge its market share. The Group will continue to carefully and extensively review the current situation about costs and resources deployment and will consider tightening its control over the operating costs effectively to maximize its profits.
The Group Chairman and Chief Executive Officer Mr. Henry Boon said, "We achieved a solid financial performance in 2021 particularly growing sales volume in China - our largest customer market due to improved and recovered economy in China in favor of its successful multiple measures and reliefs in the context of the Covid-19 pandemic."
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Vertical International Holdings Limited, stock code 8375.HK ("Vertical International" or "The Group")
Vertical International Holdings Limited is an investment holding company. The Company and its subsidiaries (collectively referred to as the "Group") are principally engaged in the manufacturing and trading of aluminum electrolytic capacitors and trading of electronic components. The production process developed by the in-house Research and Development (R&D) team utilizes its own patented production methods which were registered and granted by China Authorities to improve production efficiency and save costs. The parent company of the Group is headquartered in Hong Kong and its subsidiaries are located in Hong Kong, Dongguan and Shaoguan. Vertical International's manufactured aluminum electrolytic capacitor products are used in a variety of electronic products, including home appliances, audio-visual equipment, personal computers, automotive electronics, communication equipment and toys.
Company website: www.verticaltech.com.cn/Eng
Topic: Press release summary
Source: Vertical International Holdings Limited
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