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TMCNet:  Success Electronics 2012 Gains CNY564mn from a Contract

[January 10, 2013]

Success Electronics 2012 Gains CNY564mn from a Contract

Jan 10, 2013 (SinoCast Daily Business Beat via COMTEX) -- Success Electronics Ltd. (SZSE: 002289) announced yesterday that it received sales value of about CNY 564 million contributed by ZTE Kangxun Telecom Co., Ltd. by the end of 2012.

The sales value hit about CNY 291.18 million in the fourth quarter and is more than CNY 29.27 million, CNY 133.88 million and CNY 109.71 million respectively reported in the first three quarters of 2012, according to the announcement.

The execution of the CNY 2.31 worth of procurement contract that was signed between Success Electronics and ZTE Kangxun Telecom and disclosed on February 3, 2012 was once highly expected to help improve Success Electronics's 2012 performance, since the contractual value is close to three times of the company's 2011 operating revenue.

Success Electronics received operating revenue of CNY 849 million and net profit of about CNY 20.80 million in 2011. The company reported operating revenue of about CNY 586 million and net loss of CNY 68.999 million in the first three quarters of 2012.

Source: www.yicai.com (January 10, 2013)

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