March 25, 2020 / 4:43 AM / 14 days ago

BRIEF-AAC Technologies Holdings Inc Posts FY Net Profit RMB2,222 Million

March 25 (Reuters) - AAC Technologies Holdings Inc :

* PROPOSED NOT TO DECLARE A FINAL DIVIDEND FOR FY 2019

* GROUP DID NOT SEE ANY SIGNIFICANT ADVERSE IMPACT ON SUPPLY OF RAW MATERIALS AND MACHINERY SINCE COVID-19 OUTBREAK

* REVENUE CONTRIBUTION FROM ANDROID CUSTOMERS WILL INCREASE SIGNIFICANTLY IN 2020.

* UNFORESEEABLE GLOBAL EVENTS SUCH AS PROLONGED COVID-19 OUTBREAK MIGHT DELAY NEW PRODUCT LAUNCHES BY SMARTPHONE COS

* SEES REVENUE, GROSS PROFIT & NET PROFIT OF Q1 TO BE ADVERSELY IMPACTED DUE TO EXTENDED WORK SUSPENSION AFTER CHINESE NEW YEAR

* MOST OFFICES AND PRODUCTION PLANTS HAVE GRADUALLY RE-OPENED IN FEB IN CHINA

* SEES Q1 REVENUE, GROSS PROFIT & NET PROFIT IMPACTED DUE TO REDUCTION OF REVENUE FROM DAMPENED CONSUMER SENTIMENT FOR SMARTPHONES

* AS OF TO DATE, GROUP HAS ALREADY RESUMED A NORMAL OPERATION ACCORDING TO PRODUCTION PLAN

* WEAK CONSUMER SENTIMENT & DAMPENED SMARTPHONES DEMAND TO ADVERSELY IMPACT SHORT TO MEDIUM-TERM FINANCIAL PERFORMANCE OF GROUP

* IN GOOD PROGRESS TO ESTABLISH PRODUCTION FACILITIES FOR MANUFACTURING CAMERA MODULES, TARGETING SHIPMENT BY MID-2020

* TO NOT DECLARE FINAL DIVIDEND TO MAXIMIZE LIQUIDITY IN LIGHT OF UNPRECEDENTED CIRCUMSTANCES AMIDST COVID-19 OUTBREAK Source text for Eikon: Further company coverage:

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