To Finance Editor
【FOR IMMEDIATE RELEASE】
(Stock Code：3777.HK)
China Fiber Optic Issues Positive Profit Alert
(24 February 2015, Hong Kong) China Fiber Optic Network System Group Ltd. ("China Fiber Optic" or the "Company", together with its subsidiaries, the "Group", stock code: 3777.HK), the largest manufacturer of fiber optic patch cords in China, is pleased to announce that according to the preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended December 31, 2014, the Group expects to record a higher net profit growth for the year ended December 31, 2014 as compared to the net profit growth for the year ended December 31, 2013 (The Group's net profit for the year ended December 31, 2013 is RMB330 million with a year-on-year growth of 22%).
The higher net profit growth is primarily attributable to the business growth and increase in gross profit margin of the Group during the year of 2014. The Board expects the cooperation announced in December 2014 with a subsidiary of China Telecommunications Corporation in the construction and operation of fiber to the home infrastructure ("FTTH") will mark the Group's success in establishing a new recurring revenue model. It is anticipated that the new business can drive the demand for the Group's products and become a main growth driver.
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About China Fiber Optic Network System Group Ltd.
China Fiber Optic Network System Group Ltd. (Stock Code：3777.HK) is the largest manufacturer of fiber optic patch cords in the PRC in terms of sales volume and production capacity. The Group principally produces and sells a comprehensive portfolio of fiber optic patch cords with more than 100 different models used in a variety of applications in the telecommunications and other industries. In addition to fiber optic patch cords, the Group also produces connection and distribution products and equipment room accessories. The Group's production facility is located in Shijiazhuang, Hebei Province, with annual maximum production capacity of 29.4 million sets of fiber optic patch cords and 260,000 km of soft optical cables. The Group also sells fiber optic patch cords to overseas markets including Australia, New Zealand, Ireland and the United Kingdom. China Fiber Optic was successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited on 14 July 2011.
This press release was distributed by Trinity Communications Group Limited on behalf of China Fiber Optic Network System Group Ltd. Trinity Communications Group Limited is responsible for the media relationship management for China Fiber Optic.
For any media enquiries, please feel free to contact:
Trinity Communications Group Limited
Ms. Jessica Fung 852-3758 2219 jessica.fung@tri-hk.com
Mr. Karl Cheung 852-3758 2284 karl.cheung@tri-hk.com
Ms. Kannie Lam 852-3758 2254 kannie.lam@tri-hk.com
