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LONGCHEER STAGE A STRONG RECOVERY BY REPORTING A 69% INCREASE IN OPERATING PROFIT FOR THE 4TH QUARTER ENDED 30 JUNE 2009 (28 Aug 09)

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  • Revenue: -18% (4Q09), -14% (FY09)
  • Net Profit: +7% (4Q09), -23% (FY09)
  • Press Release: Operating profit for Q4 FY2009 increased 69% to RMB 50 million due to continued margin improvement and cost rationalisation efforts.
  • Higher margins from new products contributed to operating profit of RMB 166 million despite a 14% decline in revenue in full year FY09
  • Cash and fixed deposits amounted to RMB 456.9 million, representing approximately RMB1.30 or S$0.28 per share
  • Net asset value per share increased 19% to RMB1.84 or S$0.39 per share
  • The Board of Directors is pleased to propose a final dividend of 1.80 Singapore cents per share, 50% more than the interim dividend of 1.20 Singapore cents per share paid in March 09
  • Outlook: The economic downturn since last year has affected consumers’ spending sentiments, which has led to an overall reduction in market demand for the Group’s products.
  • Notwithstanding that the industry in which the Group operates remains challenging, the Group, with a leading market position in China, will continue to develop its product technology, diversify into new markets and increase its outreach into existing markets.
  • The Group’s efforts in the development of export markets and new businesses such as 3G solutions have contributed positively to the Group’s performance. These business segments are expected to continue growing.
  • Backed by a positive net cash position and a strong balance sheet, the Group is well-placed to withstand any market challenges and seize business opportunities.
  • The Group will continue to maintain a prudent approach in its capital and assets management, while keeping a close watch on consumers’ sentiment and any market changes.
  • The Group believes that it will emerge from the current economic turbulence to grow stronger and strengthen its position as the industry leader in China.
  • Barring any unforeseen circumstances, the Group believes that it will remain profitable in the next financial year.
FINANCIAL RECORDS

Revenue (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 905,331 721,532 583,556 634,586 2,845,005
2008 830,724 906,223 781,080 773,603 3,291,631
2007 615,114 547,044 549,413 723,057 2,434,628
2006 363,041 588,378 559,529 473,046 1,983,995
2005 91,421 127,522 277,147 265,666 777,022
2004 NA NA NA NA 504,727
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Earnings (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 48,907 30,134 28,566 50,042 154,820
2008 56,354 58,012 36,523 46,770 202,039
2007 56,044 57,426 32,393 41,825 186,731
2006 39,256 60,593 70,903 53,775 224,526
2005 16,421 26,252 41,809 27,395 111,877
2004 NA NA NA NA 102,309
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Dividends

FY Interim Final Special (SGD)
2009 0.0120 0.0180 NA
2008 0.0180 0.0180 NA
2007 0.0160 0.0160 NA
2006 0.0104 0.0156 0.0312
2005 NA 0.0123 NA
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Bonus / Rights / Stock Split

Date Type Details
NA
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Share Data (RMB)

NAV = $1.8412
EPS = $0.4017 (12M FY09)
Diluted EPS = $0.4003 (12M FY09)
No of Shares = 350,514,600
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA



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