Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Retech Technology Co., Limited    RTE   AU000000RTE9

RETECH TECHNOLOGY CO., LIMITED

(RTE)
  Report
SummaryChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Retech Technology Co Ltd Half Year Financial Update

share with twitter share with LinkedIn share with facebook
share via e-mail
08/30/2018 | 05:16pm EDT

Half Year Financial Update

Beijing, China (ABN Newswire) - Retech Technology Co. (ASX:RTE) ('Retech' or 'the Company') a leading Shanghai based E-Learning online platform and courseware technology solutions company, is pleased to provide the following financial update to accompany it's Half Year FY2018 report.

Highlights

- Strong growth delivered across all divisions, expected to continue into 2H2018

- Net profit after tax increases by 50%, to RMB17.04 million (A$3.4 million - see Note below) as compared to RMB11.34 million (A$2.27 million) in the previous corresponding six- month period

- Net revenue of RMB48.65 million (A$9.7 million) delivered, up 21% compared to RMB40.1 million (A$8 million) for the same period in FY17

- RTE continues to target new clients across Asian markets and has a strong sales pipeline for the remainder of 2018

Financial Update

For the six-month period ended 30 June 2018, Retech delivered net profit after tax of RMB17.04 million (A$3.4 million), up 50% from RMB11.34 (A$2.27 million). Net profit before tax was RMB20.36 million (A$4.1 million), an increase of 29%, compared to the previous corresponding six-month period.

Net profit after tax was driven by increased revenue, up 21%, to RMB48.65 million (A$9.7 million) from RMB40.1 million (A$8 million). Retech's Chinese subsidiaries benefited from a preferential tax rate as a result of their 'New Technology Enterprise' status.

Retech's increase in revenue resulted from strong demand for enterprise online training solutions across mainland China, most notably within the finance, auto and high-tech industries.

Operational Update

Strong growth was delivered across all divisions especially within E-learning solutions, as a result of client acquisitions and streamlined operations.

The Company continues to target and engage with new customers across all industries as it builds its sales pipeline to support its expansion across the Asian and Australian markets. As an example Retech signed a software supply agreement with Bank of China in Q2 2018, for the provision of a bespoke online training platform to support the development of its employees in China.

Further to this, the Company is actively developing its online learning operations within Australia

Liu Cheng, Chief Executive Officer Commented:

"I am pleased to be able to report a strong financial result for the Half Year. We continue to focus on expanding our customer base through the optimisation of cutting edge business processes".

Note: A$ 1 - RMB 4.99 (29 August 2018)

To view the Half Year Report, please visit:
http://abnnewswire.net/lnk/0553VH75



About Retech Technology Co Ltd:

Retech Technology Co Ltd (ASX:RTE) is one of the largest technology solutions providers in China and provides solutions to companies that enable them to deliver corporate training online. The Company delivers solutions to a diversified and established user base via three channels: E-Learning Solutions, E-Training Partnership and E-Course Direct.



Source:

Retech Technology Co Ltd



Contact:

Corporate Enquiries
Elly Yu
Retech Technology Co., Ltd
T: +86-2-5566-6166
E: yufz@retechcorp.com

Media Enquiries
Alex Liddington-Cox
Media & Capital Partners
T: +61-474-701-469
E: alex.liddingtoncox@mcpartners.com.au
 

© ABN Newswire 2018
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on RETECH TECHNOLOGY CO., LIM
2019RETECH TECHNOLOGY LTD (ASX : RTE) Pitt Street Research Report
AQ
2019RETECH (ASX : RTE) Completes Strategic Acquisition of 51% of the XJS Coaching Sc..
AQ
2018Retech Technology Co Ltd Half Year Financial Update
AW
2018Retech Technology Co Ltd June 2018 Quarter Update
AW
2018Retech Technology Co Ltd Strengthens Board with New Board Appointment
AW
More news
Financials
Sales 2019 168 M 23,6 M 23,6 M
Net income 2019 53,8 M 7,56 M 7,56 M
Net cash 2019 92,8 M 13,1 M 13,1 M
P/E ratio 2019 8,75x
Yield 2019 -
Capitalization 90,8 M 63,0 M 12,8 M
EV / Sales 2018 2,71x
EV / Sales 2019 2,26x
Nbr of Employees -
Free-Float 5,03%
Chart RETECH TECHNOLOGY CO., LIMITED
Duration : Period :
Retech Technology Co., Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts
Average target price
Last Close Price 0,39 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers
NameTitle
Shun Gang Ai Co-Chairman & President
Ern Lee Cheng Co-Chairman
Yan Lin Chief Financial Officer
Qing Liu Independent Non-Executive Director
Jiu Ping Lu Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
RETECH TECHNOLOGY CO., LIMITED-6.02%61
MICROSOFT CORPORATION17.25%1 405 666
ZOOM VIDEO COMMUNICATIONS, INC.229.03%63 121
ATLASSIAN CORPORATION PLC52.45%45 286
SEA LIMITED118.97%41 047
SPLUNK INC.26.18%30 023