PARIS, -- Lionax, the first Chinese company listed on Euronext, today announced its results for the fiscal year ended December 31, 2007. The Lionax Group's results were audited and certified by KTO auditors and submitted to the Supervisory Board on the 15th of March 2008.
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 United States since September 1st 2007. This has triggered awareness of TPMS products benefits in terms of road safety and is having a positive impact on the global demand.
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.
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