Last updated at: (Beijing Time) Friday, April 12, 2002
Great Wall Technology's Turnover Down Nine Pct in 2001
Great Wall Technology Company Limited (stock code: 74) reported Thursday turnover for the year 2001 at 5.815 billion yuan RMB (709 million U.S. dollars), representing a nine percent decrease over the previous year.
Great Wall Technology Company Limited (stock code: 74) reported Thursday turnover for the year 2001 at 5.815 billion yuan RMB (709 million U.S. dollars), representing a nine percent decrease over the previous year.
It also reported loss attributed to shareholders was 135 million yuan RMB (17.3 million dollars).
The company's sales in PCs declined in 2001 attributed to sluggish IT market, intensified competition and corporate internal restructuring.
However, growth sustained in sales of monitors and power supply which registered a 36.7 percent and 21.1 percent increase respectively over the previous year.
In 2001, the company entered into a strategic alliance with Korean Hansol Electronic Inc. to jointly produce middle-to-high end monitors carrying the brand of "Golden Great Wall - Hansol".
The company said it will concentrate on networks, develop value- added services, adopt customer-oriented policy and further strengthen the R&D of assembly technology.
It also said the future business development will be focused in 10 major cities to minimize cost and raise subscription rate.