Xi'an Haitian Posted 197% Growth in H12008 Profits

(Business News & Technology News, 1 Aug 2008)

Chinese telecommunication antenna manufacturer Xi'an Haitian Antenna Technologies has announced its unaudited interim results for the six months ended 30 June 2008. The company's turnover increased 43.5 percent to Rmb98.6 million, and net profit was up 196.8 percent to Rmb10.57 million over the last year.

"During the review period, the Group is able to broaden our income sources and achieve encouraging results. The significant increase was mainly attributed to the increase in sales revenue, in particular, generated from export sales and from high-end remote electrical tilt antenna which boosted the overall earnings," says Xiao Liangyong, Chairman & Chief Scientist, Haitian Antenna.

The company has focused on exploring the India market with significant progress where it cooperated with Motorola and Nortel. It became the major source of growth in the company's turnover with the contribution of export sales revenue to turnover increased from approximately 55 percent to 70 percent.

The company is currently producing large volumes of 3G products including TD-SCDMA, WCDMA, and CDMA2000 antennas, in order to capture the market opportunity presented by 3G.