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| Actively Expands IDC Business by Grasping Market Opportunities |
HONG KONG, Nov 10, 2017 - (ACN Newswire) - Neo Telemedia Limited ("Neo Telemedia" or the "Company;" stock code: 8167, together with its subsidiaries, the "Group") announced today its unaudited results for the nine months ended 30 September 2017 (the "period under review") and the third quarter of the year.
During the period under review, the Group recorded turnover of approximately HK$432,259,000, with gross profit at HK$137,778,000, up by 12.9% compared with same period last year. Profit attributable to owners of the Company was approximately HK$14,144,000 (2016 Correspondent Period: HK$176,179,000), due to absent of the one-off gain from disposal of HCH Investments Limited in the last corresponding period, as well as keen competition in both the telecommunications and Internet finance industry, and no new and attractive model of mobile phones and tablets was launched during the review period. Basic earnings per share were HK 0.15 cent.
For the three months ended 30 September 2017, revenue was HK$140,594,000 and gross profit and profit attributable to owners of the Company were HK$59,757,000 and HK$2,425,000 respectively. Basic earnings per share were HK 0.03 cent.
Sale of telecommunication products and services
Bluesea Mobile Group
During the period under review, Guangdong Bluesea Mobile Development Company Limited and its subsidiaries (collectively referred to as "Bluesea Mobile Group") made a successful bid for land use rights of a parcel of land in Heshan City, the PRC, for construction of the "Bluesea Intelligence Valley" which will feature a Big Data enterprise incubation platform that can help foster development of the Big Data industry in Hong Kong, Macau and Taiwan. Moreover, construction of the Internet Data Center ("IDC") in Panyu had been completed and trial operation started in the third quarter of the year. With Guangzhou Nowtop Technology Company Limited and its subsidiaries contributing turnover of approximately HK$154,500,000, Bluesea Mobile Group recorded an aggregate turnover of approximately HK$234,900,000, making up mainly of revenue from trading of telecommunication products and provision of IDC, WIFI and value-added Internet services.
Million Ace Group
Million Ace Limited and its subsidiaries (collectively referred to as "Million Ace Group") mainly engage in trading of mobile phones, tablets and related devices. Despite keen market competition and the fact that no new popular model of mobile phones and tablets was launched during the period under review, Million Ace Group managed to record turnover of approximately HK$114,200,000 .
Internet finance platform business
The Group continued to expand the customer base of its Internet finance platforms operated under Shenzhen Bees Financial Internet Financial Services Co. Ltd. and Guangdong Avatar Wealth Investment Management Company Limited. Revenue from the business for the period under review amounted to approximately HK$78,200,000 constituting mainly service or commission incomes generated from operations of the platforms.
Prospects
Looking forward, the Group will continue to expand IDC business. With construction of the IDC in Panyu completed and trial operation underway since the third quarter of the year, the Group expects to see the IDC contributing more revenue starting from the last quarter of the year.
In addition, the Group won the bid of a land parcel in Heshan City on 6 January 2017. The land parcel will be used for building the "Bluesea Intelligence Valley" which will feature a Big Data enterprise incubation platform designed with the market in mind and the benefit of government guidance and policy support.
Regarding the joint venture cooperation framework agreement (the "Cooperation Framework Agreement") signed with China National Offshore Oil Information Technology Limited ("CNOOIT") on 19 June 2017, the company and CNOOIT will establish a joint venture to develop a data center in Huizhou, which is expected to begin service in 2018.
The Group will continue to explore potential investment opportunities in IDC, cloud computing and related businesses. With favorable policies and support from the PRC government for these fast growing sectors, the management is optimistic that the Group will regain strength and be able to reward shareholders with better results in the foreseeable future.
About Neo Telemedia Limited (stock code: 8167)
Neo Telemedia Limited and its subsidiaries (collectively, the "Group") is a telecommunications group focusing on the Internet and big data sectors, subsequent to its recent corporate restructuring. The Group has been included as a constituent stock in the MSCI China Small Cap Index since November 2015. Its wholly-owned subsidiary, Guangdong Bluesea Technology 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 in the PRC.
Additionally, to capture the opportunities arising in the Internet financing market in the PRC, the Group has officially launched its internet finance business platform under its subsidiary, Avatar Wealth in May 2015. The Group has also launched another internet finance business platform with Bees Financial. Shenzhou Aerospace Manufacturing Technology (Guangdong) Institute, which was jointly established by the Group, Shenzhou Aerospace Software Limited and Chancheng District People's Government of Foshan, 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 invested in the data center of Guangdong Bluesea Mobile Development Co., Ltd., including the Bluesea Intelligence Valley 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
Fax: 852-2527 1196
Topic: Press release summary
Source: Neo Telemedia Limited
Sectors: Media & Marketing, Daily Finance, Cloud & Enterprise, Daily News
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From the Asia Corporate News Network
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