Founder Technology net profit falls 31% in H1

Aug. 19, 2009 (China Knowledge) - Founder Technology Group Corp<600601>, China's second largest personal computer maker, posted RMB 62.78 million of net profit in the first half this year, representing a year-on-year decline of 31%.

According to the company's interim financial report, total revenues in the first half were RMB 3.6 billion, same as those in the corresponding time of 2008. The firm's PC business generated RMB 3 billion of revenues in H1 2009, down 2.54% from a year earlier.

Founder Technology said that its PC business in the first quarter of this year expereicned a downturn due to the global financial crisis, however, the stimulus package along with other preferential policies launched by the central government helped boost sales of the firm's PC in the second quarter.

Founder Technology's printed circuit board project went into operation in Chongqing in the first half, which generated RMB 556.5 million of sales revenues and RMB 59 million of net profit for the firm during the reporting period.