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Public company info - China Fiber Optic Network System Group Ltd. , 03777.HK
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China Fiber Optic Network System Group Ltd., 03777.HK - Company Profile
Chairman Zhao Bing
Share Issued (share) 2,144,000,000
Par Currency U.S. Dollar
Par Value 0.001
Industry Telecomm. & Networking Equipment
Corporate Profile Business Summary: The Group was principally engaged in the business of production and sale of fiber optic patch cords and other accessories. Performance for the year: Revenue declined by 12.9% to RMB1,922,962,000; Gross profit margin was down slightly from 30.7% to 28.6%; Profit for the year decreased by 30.9% to RMB293,652,000; Business Summary: Revenue by Product Category In 2015, sales revenue of fiber optic patch cords decreased by 29.7% to RMB1,139,036,000 and connection and distribution products was down by 29.1% to RMB301,299,000, whereas that of equipment room accessories rose 196.1% to RMB482,627,000. The decline in overall revenue was connected to the shift of the Group’s strategic direction during the Year to solidify long term sustainable growth prospect. In particular, the Group is currently undergoing a business transformation process to allocate more resources to the new revenue sharing business through cooperation with telecom operators on constructing and operating FTTH broadband network. Determined to generate positive operating cash flow, the Group had also underweighted doing business with customers who traditionally demand for a longer credit period. Domestic and Overseas Sales Domestic and overseas sales accounted for 86.5% and 13.5% of the Group’s total revenue in 2015, respectively, compared to 88.9% and 11.1% in 2014. The domestic sales of fiber optic patch cord declined by 36.0%. During the Year, the Group had shifted its customer mix to those which accepted a shorter credit period in order for the Group to resume positive operating cash flows in the coming years. The slow down in overseas sales from New Zealand was compensated by the strong growth from the United Kingdom, and the Group is determined to continue to grow overseas sales. Prospects: In 2016, the Group will continue to develop its three major business pillars being the production of passive optical equipment, developing high-end optical interconnect products and operating its broadband internet business. With a diversified business model, the Group is shifting away from relying on telecom operators’ capital expenditures to extend the industry chain and in turn, achieve long-term sustainable development. The Ministry of Industry and Information Technology of the PRC issued an implementation plan with guidance to promote “Internet+” at the end of 2015. The dawning of the “Internet+” era will accelerate the integration of information and communication technologies and industry, promote industrial upgrade to achieve networking and computerization, as well as commence the construction of intelligent infrastructure “cloud computing + big data” to promote big data applications and industrial development. By 2018, it is targeted to offer customized high-end intelligent equipment by establishing certain intelligent plants for key industries, and consolidate the hardware and software technologies and industrial foundation for “Internet+”, including high-performance computers, mass storage systems and network communications equipment. The implementation of such national policy will rely on highspeed broadband network infrastructure construction. According to the three-year implementation plan on “Internet+”, a number of all-fiber network cities will be established in the PRC in 2018. All urban and rural areas will be fully covered by 4G network, of which over 80% of administrative villages will be equipped with Fiber-ToThe-Village network. It is also expected that the average connection speed for broadband users in the municipalities, provincial capitals and major cities will reach 30Mbps. By achieving the goals set out in the national policy on “Internet+” by 2018, it is expected that high-speed broadband network infrastructure will have sustainable demand. The Group will put equal emphasis on three business pillars in the industry chain so as to grasp every development opportunity. The Group is also committed to strengthening its internal financial position and laying a solid foundation for long-term healthy development.

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