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Beijing Telecom Announces 2019 Interim Results

4G network expansion and 5G pre-commercial boost net profit by 291%
Release time: 2019-08-16

京信通信系统控股有限公司 (「京信通信」或「集团」,香港股份代号:2342) 今天公布截至2019年6月30日止六个月(「期内」)未经审核之中期业绩。 (Hong Kong, August 16, 2019) ─ Jingxin Communication System Holdings Limited ("Kingston Communications" or "Group", Hong Kong stock code: 2342), the world's leading communications and information solution and service provider , announced today Unaudited interim results for the six months ended June 30, 2019 (the “Period”).

 

Benefiting from the continuous expansion and optimization of 4G networks by domestic mobile network operators, capital expenditure on 4G network construction picked up. In the first half of 2019, group revenue increased by 10.3% to HK $ 2.75 billion from the same period last year. The Group continues to improve its gross profit performance by actively developing new products and optimizing production systems. During the period, the Group's gross profit increased by 11.4% to HK $ 840 million over the same period last year, and the gross profit margin increased by 0.3 percentage points to 30.5% over the same period last year. With the increase in revenue and reduction of related costs, the Group recorded a net profit of HK $ 82 million during the period, a significant increase of 291.0% as compared to the same period last year.


During the period, the Group's revenue from its major customers is as follows:

client

( 亿港元 ) Revenue ( HK $ billion )

YoY change

Of total group revenue

China Mobile Group

7.97

+ 17.0%

29.0%

China Unicom Group

4.56

+ 118.1%

16.6%

China Telecom Group

2.67

-32.0%

9.7%

International customers and core equipment manufacturers

7.74

-18.1%

28.1%

( 主要包括中国铁塔、电信运营商 (ETL) 、轨交通信客户 ) Others ( mainly including China Tower, Telecom Operators (ETL) , Rail Communications customers )

4.57

+ 72.4%

16.6%

 

During the period, revenue from the antenna and subsystem business increased by 13.9% over the same period last year, mainly benefiting from the increased demand for 4G network expansion in the domestic market and small-scale commercial use of 5G. Revenue from the network system business decreased by 8.4% compared with the same period last year. Driven by the growing demand for mobile data traffic, traditional rooms are gradually evolving to new digital types. Therefore, the revenue from wireless optimization services decreased by 12.4% compared with the same period last year. Revenue from wireless access led by small base stations increased by 11.9% over the same period last year. The Group believes that as small base stations are gradually commercialized on a large scale, revenue from network system business will gradually rise.

 

During the period, the Group's revenue from the major business segments was as follows:

business

( 亿港元 ) Revenue ( HK $ billion )

YoY change

Of total group revenue

Antennas and subsystems

15.17

+ 13.9%

55.1%

( 包括无线优化及无线接入 ) Network system ( including wireless optimization and wireless access )

3.76

-8.4%

13.7%

service

6.49

+ 12.9%

23.6%

( 主要包括轨交通信业务、无线传输、电信运营商 (ETL) 业务 ) Others ( mainly including rail communication services, wireless transmission, telecommunication operator (ETL) services )

2.09

+ 19.0%

7.6%

 

In order to better meet the upcoming 5G and master the industry-leading technology, the Group actively increases R & D investment, continuously promotes innovation, continues to build the competitiveness of existing products, and accelerates the launch and commercialization of new 5G products. During the period, the Group's research and development costs increased by 24.6% from the same period last year to HK $ 176 million, accounting for 6.4% of the Group's total revenue. As of the end of the period, the Group had applied for more than 3,800 patents.

 

In terms of operator services in Mainland China, the Group has long been a leader in the base station antenna market. During the period, the Group cooperated with different operators to launch customized, multi-frequency and multi-standard integrated antennas to meet all non-5G antenna requirements. The development of 5G network construction, the development of various 5G antennas and the realization of batch supply, and made significant breakthroughs in 5G medium and high frequency base station dielectric filters. At the same time, the Group also continued to deepen its network system business. During the period, the Group, in conjunction with China Mobile Research Institute and Intel, launched the industry's first commercial 5G open platform small base station during the MWCS in Shanghai. To promote the development of the 5G industry. The Group is also actively cooperating with other manufacturers to launch more flexible and reliable open indoor solutions for indoor vertical industry application scenarios, so as to integrate with more industry applications and build a new 5G ecosystem.

 

In terms of international business, the Group actively explores business opportunities on international marketing platforms and taps customer needs. During the period, the Group made major breakthroughs in some developed markets and achieved steady growth in some regional markets. The Group continues to strive to strengthen technology research and development, deeply explore target markets, and has made breakthroughs in cooperation with leading international mobile operators. It has also made significant progress in cooperation with telecommunications major equipment manufacturers in the 5G field. The Group's global market position and competitiveness have been further enhanced.

 

总结道:「2019年上半年,国内外经济形势错综复杂,但4G网络的深度覆盖和优化,及5G的逐步商用部署给集团带来无限商机。展望未来,集团将利用在市场上的优势,坚持以客户为中心,打造新技术新产品,促进行业间的深度合作,以更好的业绩回馈投资者。」 Mr. Huo Dongling, Chairman of Beijing Telecom concluded: "In the first half of 2019, the economic situation at home and abroad was complicated, but the deep coverage and optimization of 4G networks and the gradual commercial deployment of 5G brought unlimited business opportunities to the Group. Looking ahead, the Group will use the The market advantage, adhere to the customer-centric, create new technologies and new products, promote in-depth cooperation between industries, and return investors with better performance. "

 

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