Chinese technology company Founder Technology has published its last semi-annual financial report before transferring its PC business to Acer.
The report stated that Founder's overall operating revenue was CNY4.355 billion, a year-on-year increase of 21% and its overall net profit was CNY56.129 million, a year-on-year decrease of 11.6%. At the same time, its PC sales increased by 21.72% year-on-year to CNY3.655 billion, which was the main contributor to its overall revenue. However, the operating profit rate of this sector was only 5%.
This will be Founder's last semi-annual financial report that includes the performance of the PC consumer business. The report said that the growth of PC sales was because of business users' increasing demands for PCs and the promotion of the Chinese rural home appliances subsidy program.
After transferring its PC business to Acer, Founder will maintain its current printed circuit board business and office supplies and equipment business. During the first half of 2010, Founder's operating revenue of PCB business was CNY650 million, and the operating profit rate of this sector reached 15.96%.
Under the agreement signed by Founder and Acer, Founder will gain CNY51 million for the transfer of intangible assets and CNY69 million for channel cooperation at the end of this year. Founder said that due to these incomes, the company's net profit for the entire year of 2010 will have a 100% increase.