In a release on
Operating profit rose by 41.2 percent year-on-year to approximately
During the year under review, revenue from the Group's video product business declined by 10.6 percent to
According to a research report by
For video products business, the Group's video disc player business has long lost its sharpness because of the decreasing average selling price of DVD players. Nevertheless, to cope with the changes, the Group gave its advantages in technology, production and supply chain full play. The Group will continue to enhance its software development capability and raise the efficiency of its R&D, and gradually shift the business segment's focus to the media boxes.
For audio products business, the Group capitalized on the trend by actively developing new types of audio products. In 2013, it developed 48 product series which comprised 248 products in conjunction with new types of audio products, thus achieving satisfactory audio product sales during the year. In particular, sales of conventional audio products such as HTS and Micro & Mini speakers continued to grow rapidly. Meanwhile, sales of new types of audio products reached a higher level than ever, which included wireless speakers, soundbars and dockings. With the prospective development of wireless technologies, smart TVs and smart mobile telecommunication, the Group expected the proportion of audio product segment in its turnover to rise further.
For other business, the Group won tenders for the project of "Bringing Villages Under Satellite Coverage" and 6 projects of "Bringing Households Under Satellite Coverage", thus becoming a leading ABS-s supplier in the country. Sales of the Group's ABS-s rose by 40.9 percent to
In order to satisfy its future business development, the Group began constructing a new production plant in 2011 in
For its R&D, the Group will enhance its technology and capabilities of designing intelligent ancillary products and strive to develop drivers and speakers of higher standard and strengthen its research in electro-acoustic technologies in focus of clients' requirements by enhancing technological pre-research. During the year, R&D expenses were approximately 3.5 percent of the Group's turnover, which was higher than industry average in order to enhance its capacity for product development and its overall competitiveness.
Looking ahead, the Group will enhance its technology and capabilities of designing intelligent ancillary products. Meanwhile, the Group continues to establish its globalized operation capability, industrial capability and technical capability upon the solid customer base, in a view of broadening its client base and enriching its product portfolio.
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In a release on