Net Profit of USI in 2017 Recorded a Substantial Increase of 63.1%, Annual Operating Income and Net Profit Hit a New High since Listing
2018/02/01

(2018-2-1, Shanghai) On February 1, Universal Scientific Industrial (Shanghai) Co., Ltd. (SSE:601231),a giant electronics designer and manufacturer in the world, announced after closing its preliminary earnings estimate for 2017. The consolidated operating income for 2017 reached a record high of RMB 29.706 billion, up 23.68% over the same period of last year. The Company's monthly operating income continuously set a record high in November and December, and its annual operating income and net profit also hit a new high since the listing. For 2017, the Company realized net profits attributable to shareholders of listed companies of RMB 1,314 million, an increase of 63.10 % over RMB 806 million for 2016. Net profits excluding non-recurring profits and losses were RMB 1,085 million, up 37.29 % over the same period of last year. Non-recurring profits and losses mainly refer to investment income generated by reasonable utilization of idle funds, wealth management products and securities.

 

For the fourth quarter of 2017, the Company achieved an operating income of RMB 9,517 million, up26.89% over the same period of last year, and realized the net profit of RMB452 million, up 64.71% over the same period of last year. In the second half of 2017, the Company entered the peak season of the industry, and the increase in demand for new products led to the increase of shipments of SiP products and the higher capacity utilization rate, which contributed a lot to the growth in both operating income of consumer electronics products and net profits. Other non-SiP products such as storage and automotive electronics presented outstanding performance, and the operating income of high-margin products increased, so that the overall profitability of the Company rose while maintaining stable.

 

With positioning 2017 as a year of "Rebalancing," the Company achieved remarkable results in its strategy of adjusting the product mix and improving the profitability structure, making both operating income and profitability record high. In 2018, in addition to continuous and steady growth in both operating income and profitability, the Company's strategic objective positions 2018 as a year of "Expansion". Apart from its existing operation scale, the Company makes arange of strategic investments for its sustainable growth, including but not limited to strategic cooperation with leading technology companies for expanding new business scope, expansion in new production sites for meeting customer needs, and expansion of existing production scale for boosting existing business and introducing new business. These expansion investments may not necessarily bring immediate and significant contributions to the Company in 2018, but they can lay a solid foundation for the growth momentum after 2019. In addition, the Company will also actively enlarge, and continue to look for possible investment or M & A projects that will benefit the long-term strategic development of the Company.

 

 

About USI

USI is a global ODM/EMS leading company providing design, miniaturization, material sourcing, manufacturing, logistics, and after services of electronic devices/modules for brand owners. USI is a member of ASE Group and has been listed in Shanghai Stock Exchange in 2012. It has many years of experience in the electronics manufacturing services industry and leverages the industry-leading technology of ASE Group, which enables USI to offer customer diversify product in the sectors of wireless communication, computer and storage, consumer, industrial, and automotive electronics worldwide. Through the sales service network in North America, Europe, Japan, China, Taiwan, and manufacturing sites in China, Taiwan and Mexico. USI has about 15,000 people worldwide. For more information, please visit www.usish.com

 

IR Contact:

Sherry Wang

Tel:+86-137-7422-4322

Sherry_wang@usiglobal.com

 


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