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8Telecom Achieves Record Net Profit Of RMB72.1 million For FY2009 (11 Feb 10)

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  • Revenue: +101.93% (FY09)
  • Net Profit: +472.48% (FY09)
  • Press Release: Revenue up 101.9% to RMB554.5 million on stronger sales from all three telecommunication units and maiden contribution from property development business
  • Expects stronger FY2010 on enlarged production capacity and progressive sales from Linping Times Square project
  • Proposing final dividend of S0.622 cents per share, bringing total FY2009 dividend to S1.807 cents; and 10:1 bonus shares issue
  • Outlook: The Group will also continue to expand its geographical presence in provinces such as Guangdong, Jiangsu, and Fujian, while maintaining its strong market share in Zhejiang and Shanghai.
  • The long term prospects for the real estate sector remains highly favourable as market demand for quality residential and commercial developments is flowing to second-tier cities such as Zhejiang.
  • As such, it expects sales from its Linping Times Square project, situated in the heart of the Linping business district, Hangzhou city, to increase significantly in FY2010.
  • The Group will seek shareholders’ approval for the continued development of its property development business and will inform shareholders accordingly.
  • Based on the above factors, barring any unforeseen circumstances, the Board of Directors is confident that it will chart another year of growth in 2010.
FINANCIAL RECORDS

Revenue (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 87,996 136,593 92,711 237,224 554,524
2008 99,085 134,200 73,723 NA 274,614
2007 73,053 105,670 116,598 127,944 423,265
2006 28,915 57,941 78,517 90,447 255,820
2005 25,762 60,134 61,160 81,582 228,638
2004 NA NA 78,293 NA 218,796
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Earnings (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 3,743 10,686 8,161 49,479 72,069
2008 3,185 4,100 3,007 2,297 12,589
2007 3,552 4,730 7,455 5,390 21,127
2006 3,301 3,906 6,163 4,528 17,898
2005 4,663 6,996 5,955 4,347 21,961
2004 NA NA 26,791 NA 50,309
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Dividends

FY Interim Final Special (USD)
2009 0.01185 0.00622 (SGD)
2008 NA 0.00111 NA
2007 NA 0.00123 NA
2006 NA 0.00102 NA
2005 NA 0.00115 NA
2004 NA 0.0026 NA
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Bonus / Rights / Stock Split

Date Type Details
NA
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Share Data (RMB)

NAV = $0.6442
EPS = $0.1508 (12M FY09)
No of Shares = 469,656,250
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA



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