320.HK) announces the annual results for the financial year 2021/22

Resilient business performance amid macroeconomic uncertainty

Revenue grew 16.4% year-over-year for HK$4,184.8 million

Net profit increase of 3.5% year-over-year for HK$84.2 million

Financial Highlights

For the year ended March 31

FISCAL YEAR 2022

million HK dollars

FY2021

million HK dollars

To change

Revenue

4,184.8

3,596.7

+16.4%

Gross profit

537.3

465.8

+15.4%

Profit attributable to owners of the Company

84.2

81.4

+3.5%

Basic earnings per ordinary share (HK cent(s))

10.01

9.69

+3.3%

HONG KONG, July 5, 2022 /PRNewswire/ — A leading technology, brand and manufacturing company and an enabler of smart, sustainable livingComputime Group Limited (the “Company” or “Computime”, together with its subsidiaries, collectively the “Group”; stock code: 320.HK) is pleased to announce its annual results for the financial year ended March 31, 2022 (the year”).

Overview of results

The Group delivered excellent performance despite severe supply chain disruptions as well as soaring raw material prices due to COVID-19 recurrence. Benefiting from the resilient commercial performance and sales growth in the Group’s two operating segments, revenue for the Year increased by 16.4% year-on-year (“YoY”) to reach c. HK$4,184.8 million (financial year 2021: HK$3,596.7 million). The Group has also taken active measures to manage rising raw material prices and production costs, with gross profit margin maintained at 12.8% (full year 2021: 13.0%) and gross margin increased to c. HK$537.3 million (financial year 2021: HK$465.8 million). Along with stringent cost control measures, the Company’s profit for the year attributable to owners showed a steady year-on-year increase of around 3.5%, from around HK$81.4 million last year at HK$84.2 million This year. In appreciation of shareholder support, the Group has also proposed a final dividend of 4.75 HK cents per ordinary share (financial year 2021: 5.95 Hong Kong cents).

Overall, the Group reacted quickly to market developments and managed to mitigate the worst impacts. The satisfactory financial performance during the year reflected its operational resilience, the increase in its market share and the expansion of its customer portfolio and its order book in a very complicated market.

Sector review

During the year, the Group continued its commitment to advancing smart and sustainable living through its two key operating segments, namely the Smart Solutions (“SS”) segment and the Contract Manufacturing Services (“ CMS”), providing high-end and value-added products. solutions to its international customers.

SS segment revenue was approximately HK$1,281.4 million (financial year 2021: HK$1,092.3 million), an increase of 17.3% year-on-year, mainly due to the increase in orders attributable to the growing consumer awareness of household energy savings. As for the CMS segment, the Group recorded segment revenue of approximately HK$2,903.5 million (financial year 2021: HK$2,504.4 million), a 15.9% year-on-year increase, attributable to strong customer order demand throughout the year.

Its branded business, Salus Controls, also performed strongly during the year despite increased competition in the market.

Operational Highlights

Fiscal 2022 marked a pivotal year in Computime’s transformation to universalize smart, sustainable living through technologies, products and manufacturing solutions.

In particular, the Group took an important step towards sustainability by purchasing an additional 62.9998% stake in Braeburn Systems LLC (“Braeburn”), a US branded technology and products company focused on energy saving technologies. energy and intelligent HVAC controls, for a consideration of $10.3 million. At closing, the group held a combined 90% interest of the Members in Braeburn. Given its unique positioning and capabilities, the investment is expected to expand the group’s customer reach and product portfolio, increase its regional market penetration, generate economies of scale and, most importantly, strengthen its software as a as a service (“SaaS”) and Platform as a Service (“PaaS”) capability so that it can provide customers with better solutions and a better user experience. These, in turn, should increase margins and ensure long-term business visibility and sustainability.

To meet the growing demand for orders while supporting its service and geographic development, the Group has also made significant efforts to diversify and expand its global industrial footprint. In addition to his China presence, the Group has continued to grow until Asia Pacific with sites in Malaysia and Vietnam. During the Year, the Group also set up its first manufacturing plant in Mexico and laid the foundation for the development of a center of excellence (an engineering center) in Romania.

Mr. AUYANG Pak Hong Bernard – Chairman and CEO of Computime Group Limited, said: “Despite the headwinds in the market, we are delighted to see Computime firmly evolving into a smart and sustainable technology, brand and manufacturing company as well as a tool for living. Going forward, the Group will continue to invest in new technologies and platforms, including Artificial Intelligence, Machine Learning, AIoT, robotics, cloud computing, etc., to develop smarter, more environmentally friendly and interconnected solutions for our brand partners and our end customers, our company, our people, our mindset and our innovation, so that we can create greater and lasting values ​​for our stakeholders.”

About Computime Group Limited

Computime Group Limited is a leader in smart and sustainable living, offering custom, turnkey design and manufacturing solutions to its established and diverse list of customers. With its bespoke intellectual property, strong research and development capabilities, and established brands, technology and manufacturing platforms, the group has also launched its own line of exclusive products under the SALUS brand on the European and North American market.kits.

(PRNewsfoto/金宝通集团有限公司)

SOURCE Computime Group Limited

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