【For Immediate Release】 12 July 2021
Ten Pao Group Holdings Limited
Ten Pao Group Issues 2021 Interim Results Positive Profit Alert
Net Profit Attributable to Equity Holders of the Company is Expected to Increase
by 90% to 110% YoY
[12 July 2021 - Hong Kong] Ten Pao Group Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'', stock code: 1979.HK), is pleased to announce that based on the preliminary review by the Board on the unaudited management accounts of the Group for the six months ended 30 June 2021, the net profit attributable to equity holders of the Company is expected to increase by approximately 90% to 110% as compared to the corresponding period of last year, due to the significant increase in customer orders and the continuous improvement in the operation and production efficiency.
Managements of the Company said: "The COVID-19 pandemic has brought drastic changes to the macro economy and the industry since the outbreak began. Structural changes can be found in the manufacturing models of corporations as well as in the consumption habits of consumers. Amidst such a business environment, Ten Pao proactively expanded its customer base, optimised its global production capacity, and enriched its business portfolio, which further strengthened the Group's ability to face the ever-changing global business environment. This positive profit forecast reflects that the implementation of the Group's development strategies has been successful. The business of telecommunications products under the switching power supply units for consumer products has recorded good results. Smart chargers and controllers for power tools segment has continued to benefit from the Stay-Home Economy. Going forward, the Group will forge ahead and continue to strive towards becoming a market-leading one-stop smart power solution provider, actively directing resources in New Energy businesses including automotive electronic products and green mobility to create longer-term and sustainable returns for shareholders."
About Ten Pao Group Holdings Limited
Ten Pao Group was established in 1979 and listed in 2015 in Hong Kong (Stock Code: 1979). With 40 years of experience in the power supply industry, Ten Pao designs and manufactures safe and reliable power supplies and smart chargers, and provides with competitive "one-stop smart power supply solutions". By cooperating with different famous brands for years, it has become a trustworthy supplier for various international brands.
This press release is issued by DLK Advisory Limited on behalf of Ten Pao Group Holdings Limited.
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13/07/2021 Dissemination of a Marketing Press Release, transmitted by EQS Group.