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Founder Technology Net Profit Down 31% In H1 2009
August 18, 2009 |
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Comments | Category: Business, Computing
Chinese hi-tech enterprise Founder Technology has published its semi-annual financial report for 2009, which states its net profit decreased by 31% year-on-year to CNY62.78 million.
The PC business has been the major income resource for Founder Technology; however, its operating profit from this sector was only 5.98% during the first six months of 2009, and its revenue and net profit from the PC business both declined. According to Founder Technology, due to the global financial crisis, its PC business saw a certain decrease in the first quarter of 2009, but it became profitable again in the second quarter after the launch of a series of stimulating policies by the country.
In addition, the company said its newly launched multi-layer circuit board business was the major contributor to the company's revenue in the first half of 2009. Though the revenue from this new business was only one-sixth of that from the PC business, it brought 93% profit to Founder Technology. Statistics provided by Founder Technology show that the operating profit rate of this multi-layer circuit board business can reach up to 20.99%.
Founder Technology said it will enlarge investment and update equipment to achieve a rapid development of its multi-layer circuit board business.
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