Solomon Systech Wins Enterprise Award of the DHL/SCMP Hong Kong Business Awards 2004
(Hong Kong – 2 December 2004) – Leading flat panel display integrated circuit (“IC”) solution provider Solomon Systech (International) Limited (“Solomon Systech”; SEHK: 2878) has won the Enterprise Award of the DHL/SCMP Hong Kong Business Awards 2004. A milestone for the Group, this award recognizes its excellence in business growth and market development.
Commenting on winning the award, Solomon Systech’s Managing Director, Mr. Humphrey Leung, said, “Winning the Award means a lot to the Group. While the many industrial awards we won in the past few years honored our outstanding products and technologies, this business award recognizes the Group’s success as an outperforming enterprise with innovative products, successful market development and excellent financial performance. We are delighted that our efforts and business successes are being acknowledged.” Mr. Leung continued, “Since our listing in April this year, the Group has migrated into a new stage of growth, this award is certainly a due encouragement to all our staff. I would like to take this opportunity to thanks our dedicated colleagues for helping the Group to achieve such unparalleled successes.”
The annual Hong Kong Business Awards established by DHL International (Hong Kong) Ltd. and the South China Morning Post in 1990 is to acknowledge publicly the vital contributions made by individuals and by companies in maintaining and expanding the economic viability and international stature of the territory. In particular, the Enterprise Award pays tribute to the winning company for outstanding achievement in business development and corporate management. The winner would also have demonstrated success in delivering innovative products and penetrating new markets.
Since its establishment in 1999, Solomon Systech has extended its footprint over a global brand clientele. In FY2003, Solomon Systech recorded a turnover of US$109.3 million and profit of US$22.7 million, with more than 70 million display ICs shipped, most of which for use in cellular phones. In the first half of FY2004, the Group maintained its growth momentum. Its turnover reached US$110.0 million and profit US$22.9 million, exceeding those in the full year of FY2003. During the period, 65 million units of display ICs were shipped, which constituted about 16% of the global market shipment.
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