Time Interconnect Technology Limited announces financial results for the nine months ended 31 December 2023. During the period, the Company achieved revenues of approximately HK$48.26 million, pre-tax profit of HK$3.42 million, profit for the period of approximately HK$2.78 million and consolidated income for the period of approximately HK$2.3 billion. Basic earnings per share were HK14.24 cents. THE COMPANY PROPOSES A FINAL DIVIDEND OF HK$0.7 CENTS PER ORDINARY SHARE, TOTALING APPROXIMATELY HK$1362.2 MILLION. The capital commitment will be used for the purchase of property, plant and equipment of approximately HK$2519.2 million. In terms of key customer revenue contribution, Customer A (from the Cable Components and Server segment) contributed approximately HK$7.94 million and Customer B (from the Server segment) contributed approximately HK$6.13 million. The...Show More

Time Interconnect Technology Limited announces financial results for the nine months ended 31 December 2023. During the period, the Company achieved revenues of approximately HK$48.26 million, pre-tax profit of HK$3.42 million, profit for the period of approximately HK$2.78 million and consolidated income for the period of approximately HK$2.3 billion. Basic earnings per share were HK14.24 cents. THE COMPANY PROPOSES A FINAL DIVIDEND OF HK$0.7 CENTS PER ORDINARY SHARE, TOTALING APPROXIMATELY HK$1362.2 MILLION. The capital commitment will be used for the purchase of property, plant and equipment of approximately HK$2519.2 million. In terms of key customer revenue contribution, Customer A (from the Cable Components and Server segment) contributed approximately HK$7.94 million and Customer B (from the Server segment) contributed approximately HK$6.13 million. The revenue of each business segment was HK$17.29 billion for cable components, HK$8.6 billion for digital cables and HK$22.31 billion for servers. THE RESULTS OF EACH BUSINESS SEGMENT WERE: CABLE COMPONENTS APPROXIMATELY HK$2.37 MILLION, DIGITAL CABLES APPROXIMATELY HK$2750 MILLION AND SERVERS APPROXIMATELY HK$1.46 MILLION. The total assets of the company are approximately HK$61.62 million and total liabilities are HK$47.89 million. Bank borrowings of approximately HK$12.47 million, contributions to retirement benefits schemes of approximately HK$6398 million, and government grants of HK$435.5 million. Deferred tax liability of HK$9175.7 million and lease liabilities of HK$6501.7 million. Under the 2023 Stock Option Plan, 1183.6 million new options were granted to employees and directors. The main financial instruments consist of approximately HK$9.58 million in secured bank deposits and approximately HK$3.38 million in cash and cash equivalents. Inventories are approximately HK$13.1 million, trade and other receivables are HK$23.14 billion, trade and other payables are HK$16.35 million, contract assets are HK$2027.9 million and contractual liabilities are HK$305.5 million.