LIONAX News
Lionax Reports Full Year 2007 Audited Earnings
Results highlights - Full year 2007 sales of EUR1,700,118* (18,276,268 HKD) up from EUR2089** (HKD 20,808) in 2006; - 2007 Net income was EUR 202,640*, (HKD 2,178,390) compared to EUR -27,626** (HKD -275,162) in 2006; Above initial Net income forecast of EUR 147,059* (HKD 1,580,884) communicated in the offering circular; * At 2007 average exchange rates of 1 EUR= 10.75 HKD ** At 2006 average exchange rates of 1 EUR = 9.96 HKD James Yang, CEO and Board Chairman, commented:
"I am very pleased to announce that Lionax has achieved 2007 revenue of HKD 18,276,268, representing a significant progression of volumes from a very low base in 2006. We have also achieved a net income of HKD 2,178,390, which is higher than our initial projections.
The rapid growth of our TPMS core products sales in 2007 is a reflection of the huge demand for such products, which have become a legal requirement in the
Lionax's TPMS products provide a competitive safety solution for vehicle manufacturers and owners. The delivered orders in 2007 are a key step in the implementation of our strategy to penetrate the American and European automotive TPMS markets. In 2008 we forecast a huge demand for TPMS on global market.
For Lionax we foresee a continued and steady growth for the year 2008, thanks to the rapid growth of Lionax core business of TPMS products, and based on purchased orders received so far.
Lionax estimates 2008 revenues to be at HKD 96,750,000 (or EUR9,000,000*) and 2008 net income to be at HKD 11,300,000 (or EUR1,050,000*)."
Full year results Year ended Year Year Year 31 December ended 31 ended 31 ended 31 2007 December December December 2007 2006 2006 HKD EUR* HKD EUR** Revenue 18,276,268 1,700,118 20,808 2,089 Cost of sales 12,816,783 1,192,259 17,324 1,739 Gross profit 5,459,485 507,859 3,484 350 Other revenue and gain 2,699,292 251,096 10,774 1,082 Selling and distribution (665,255) (61,884) (46,074) (4,626) expenses Administration expenses (4,639,278) (431,560) (234,530) (23,547) (93,455) (8,693) (2,814) (283) Other operating expenses Operating income 2,760,789 256,818 (269,160) (27,024) Finance cost (189,267) (17,606) (6,002) (603) Profit before income tax 2,571,522 239,211 (275,162) (27,627) Income tax expense (393,132) (36,570) 0 0 Net Income 2,178,390 202,640 (275,162) (27,627) EPS 21.7 cents 2.02 cents (4.6 cents) (0.46 cents) * At 2007 average exchange rates 1 EUR = 10.75 HKD ** At 2006 average exchange rates 1 EUR = 9.96 HKD Lionax's key milestones - Lionax celebrates first shipment of SecuTire TPMS to U.S. market - Lionax becomes the first Chinese company listed in Euronext
- Lionax Launches Pressure Eye, Targeting Huge Untapped Motorcycle TPMS Market
- Lionax builds quality leadership with ISO/TS 16949 Automotive Certification
- Kysonix enhances cooperation on TPMS with European special truck GPS tracing system
- Lionax has developed a new generation of GPS product successfully!
- Lionax setup a wholly owned company in
- Lionax TPMS product is accepted by Yutong Group, one of the largest bus manufacturers in
- Lionax secures a contract on the US Recreational Vehicle market
- Lionax wins a "TPMS" contract for Shanghai's bus market
- Kysonix/Lionax will gain great governmental support to Promote
About LIONAX
The Company, listed on Euronext, the
Contacts: Financial Dynamics France: Press Contact Elodie Marchand elodie.marchand@fd.com Phone: +33-(0)1-47-03-68-17 Investor Relations Valery Lepinette valery.lepinette@fd.com Phone: +33-(0)1-47-03-68-62
SOURCE LIONAX
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