Tonly Announces Sales Revenue from Major Products for Third Quarter and First Three Quarters in 2019 (Unaudited)

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HONG KONG, CHINA – Media OutReach – 14 October 2019 – Tonly Electronics Holdings Limited (“Tonly Electronics” or “the Group”; SEHK stock code: 01249) announced its unaudited sales revenue ended 30 September 2019 for its major products. The following products do not encompass all of the Group’s business and the information below does not completely reflect the Group’s performance during the period under review.

Sales revenue of the major products of the Group was approximately HK$2,405 million for the third quarter in 2019, increased by 2.2% compared with the same period of last year. Sales revenue of the major products of the Group in the first three quarters of the year was HK$5,849 million, representing a 13.8% rise year-on-year (YoY). The growth was mainly attributable to the Group’s ‘audio products’, ‘headphones’ and ‘ancillary product’ business.

Audio product business has now become the major business segment of the Group, especially in view of the growth of smart speakers. Sales revenue for audio products for the third quarter in 2019 rose by 1.6% YoY to approximately HK$1,949 million. While its sales revenue increased by 13.2% YoY to HK$4,452 million in the first three quarters of the year.

Sales revenue for headphones for the third quarter in 2019 rose by 16% YoY to approximately HK$224 million. While its sales revenue increased by 47.0% YoY to HK$645 million in the first three quarters of the year. The Group will continue to enhance its technological development of True Wireless Stereo (TWS) earphones and voice interaction function of earphones in order to increase market share. TWS headsets has constanly delivered to customers in bulk shipment.

Sales revenue of video products fell by 49.5% YoY to approximately HK$43 million for the third quarter in 2019, and it recorded a decrease of 48.2% YoY to HK$180 million in the first three quarters of the year. The fall was mainly due to the general downturn of the video disc players market.

Sales revenue of IoT Related Products fell by 52.3% YoY to approximately HK$19 million for the third quarter in 2019, and it recorded a decrease of 18.9% YoY to HK$96 million in the first three quarters of the year. The decline was mainly due to the impact of structure adjustments of products and customers. The Group will continue to expand its product innovation capabilities, as well as to optimise its customer structure and enhance its market competitiveness.

Benefited from the inclusion of component products of Guangdong Regency Optics-Electron Corp, an subsidiary of the Group, into the Group’s revenue of ancillary products since the first quarter of 2019, and the growth of ancillary product business supplementary to the smart products business, sales revenue of ancillary products rose by approximately 46.7% YoY to approximately HK$170 million for the third quarter in 2019. Sales revenue of the said products in the first three quarters of the year rose by 57.3% YoY to HK$475 million.

Unaudited Sales Revenue (HK$’000)

2019 Q3

2018 Q3

Change

YoY (%)

2019 3Qs

2018 3Qs

Change

YoY (%)

Audio products(1)

1,949,370

1,918,964

1.6%

4,451,949

3,931,722

13.2%

Headphones

223,659

192,809

16.0%

645,133

438,940

47.0%

Video products(2)

42,868

84,940

-49.5%

179,945

347,327

-48.2%

IoT Related products(3)

18,734

39,283

-52.3%

96,412

118,906

-18.9%

Ancillary products(4)

169,939

115,864

46.7%

475,316

302,179

57.3%

Total

2,404,570

2,351,860

2.2%

5,848,755

5,139,074

13.8%

(1)    Mainly include smart voice speakers, wireless speakers, soundbars, home theatres, and mini speakers

(2)   Mainly include DVD players, BD players, OTT set top boxes (STB), and other products

(3)   Mainly include smart plugs, smart gateways and other IoT products

(4)    Mainly include fabric covering for external sales, plastic injection structural parts, speakers, wireless modules, and other components

*Partial IoT Related Products sales in 2018 were reclassified to Video products for the reason of product form adjustment.

Note: The above products do not encompass all of the Group’s business and the information above does not completely reflect the performance of the Group during the period under review. The above information is unaudited.

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