Technology International Holdings Limited
Encouraging Results For The First Half Of 2000
August, 2000, HONG KONG) - Excel Technology International
Holdings Limited ('Excel'
or the 'Company', together with its subsidiaries, the 'Group'; stock code:
8048) is pleased to announce its interim results for the six months ended
June 30, 2000.
the six months ended June 30, 2000, the Group achieved a turnover of approximately
HK$ 70,870,000, representing about 92.6% increase as compared to the same
period in the previous financial year. Profit attributable to shareholders
amounted to HK$ 6,260,000 as compared to a loss of HK$ 2,385,000 over the
same period in 1999. Basic earnings per share was HK$0.88 cents.
the first half of 2000, the Group successfully regained profit from last year's
loss. Strong growth in turnover was mainly attributable to increased sales
in the Group's enterprise software, custom development projects and resale
of hardware and software immediately after the Y2K freeze. Also, the Group
had concluded a contract to develop the iTreasury project which would be a
corporate treasury bidding system on the Internet with income to be derived
from development fee equity earnings.
Group's ASP associated company, i21 has signed up two broker consortia for
offering their member brokers the iStock21 service, and has also signed up
two major local banks for providing the iHR21 service to the banks' customers
for human resource administration including payroll processing and mandatory
provident fund contribution.
the period under review, the Group has completed the development of its enterprise
software in the e-commerce area. This new enterprise software, referred to
as "eSAM", is an electronic supply chain management system tailored for the
Group's geographic expansion plan is well on track. A wholly owned subsidiary
in each of Singapore and Guangzhou of China had been set up to start business
in these two countries.
forward, the Directors maintain an optimistic view on enterprise software
business in Hong Kong. With the passage of Y2K problem, the banking and financial
sector has been actively looking for new application solutions and new computer
system. The sales in enterprise software packages, custom development projects
and resale of hardware and software are expected to have significant growth.
Excel was short-listed for a major custom development project for a treasury
system by a regulatory body in Hong Kong. The Directors are confident that
with the Group's experience in the banking and financial sector, it will be
able to secure the contract.
about the geographical expansion plan of the Company, Ms Peggy Chan, CEO of
the Group, 'With the establishment of offices in Singapore and Guangzhou and
a software development centre in Shenzhen, we are now actively pursuing joint
ventures and reseller appointments as an entry strategy for our geographical
our ASP business, i21 will launch iHR21 in early September 2000. We are now
considering the fourth ASP service, a financial accounting system, which will
be developed by the Group's development centre. Also, the management of i21
is actively devising the possibility in developing the ASP market in Taiwan.
The initial feedback from the local financial institutions was positive. She
concluded, 'Given the favourable market environment in Hong Kong and our years
of experience and unique expertise in banking and finance sector, the Group
is aiming at becoming the leading business application solutions provider
in Hong Kong and in Asia Pacific regions by developing advanced enterprise
software, the operation of ASP, IT consultancy and etc. Last but not least,
we will strive to bring the best returns to our shareholders
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