china fiber optic network sy (3777) Snapshot

China Fiber Optic Network System Group Ltd. reported unaudited consolidated revenue results for the first quarter ended march 31, 2013. For the quarter, the company reported revenue of RMB 310,014,000 against RMB 278,220,000 a year ago.

China Fiber Optic Network System Group Ltd. reported consolidated earnings results for the full year ended December 31, 2012. For the year, the company reported revenue of RMB 1,494,223,000 compared to RMB 1,257,034,000 a year ago. Profit before tax was RMB 328,321,000 compared to RMB 298,810,000 a year ago. Profit for the year was RMB 272,172,000 or RMB 0.224 per basic and diluted share compared to RMB 253,251,000 or RMB 0.242 per basic and diluted share a year ago. The Group's revenue surged 18.9% to RMB 1,494,223,000, mainly driven by increase of 26.1% in sales of fiber optic patch cords in the domestic market, while export sales declined by 9.4%. Net cash flows from operating activities were RMB 379,709,000 compared to RMB 298,925,000 a year ago. The Group incurred capital expenditures of RMB 105,769,000 for the year ended December 31, 2012, which were mostly related to construction of production facilities and purchasing of equipments and machinery to expand its production capacity. For 2013, the Group expects to earmark additional capital expenditures of roughly RMB 200,000,000 to further increase production capacities of soft optical cables, establish component workshops, transform production lines of fiber optic patch cords, and construct passive optical communication technology engineering laboratory and other projects. These capital expenditures will be funded by cash generated from operations and bank financing. The Board has recommended a final dividend of 1 cent per share to be paid on June 20, 2013, to the shareholders whose names appear on the register of members of the company on June 7, 2013. The proposed final dividend will be voted by shareholders at the annual general meeting to be held on May 30, 2013.

China Fiber Optic Network System Group Ltd., Annual General Meeting, May 30, 2013., at 16:30 China Standard Time. Location: The Hong Kong Banker Club, 43rd Floor. Agenda: To receive and consider the audited financial statements and the reports of the directors and auditors of the company for the year ended December 31, 2012; to declare a final dividend; to re-elect the retiring directors of the company and to authorise the board of directors of the company to fix the remuneration of the Directors; to re-appoint auditors and to authorise the Directors to fix their remuneration; to consider and, if thought fit, pass with or without amendments, the following resolution as an ordinary resolution to allot, issue and deal with additional shares in the capital of the company; to add the number of shares purchased by the company pursuant to the general mandate referred to in resolution 6; and to transact any other business.