Nantian
Nantian's principal activities are in ATMs and other specialised financial equipment including electrical products, software and systems integration. The Group's major products include small open mode machines used by bank systems, financial terminal systems, specialized bankbook printers and ATM machines.
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Nantian core-business profit up 90 percent
Nantian has announced its revised prediction for 2008 annual profits will be RMB 98.27 million, an increase of around 200 percent compared to 2007.
This increase partly comes from the disposal of a property in the first quarter of 2008 for RMB 36.88 million. However net profit from the core business increased by 90 percent, due to an expansion in sales and an increase in margins of its core business.
Nantian is now the world’s second largest producer of bank account book printers. In China, bank accounts are mainly operated using an account book system, which ATM like machines automatically update.
Nantian’s domestic market share of bank printing systems is 60 percent. Its automatic account management machines and bankcard readers both have over 40 percent of the market. Margins for these products, however, are fairly low since critical parts are imported.
The company is expanding its ATM business which provides a huge market and larger margins. By mid-2009, the company will have the capacity to produce 3,000 ATMs a year.
Established more than 20 years ago, Nantian is an old company by Chinese standards. It is the leader in its Chinese market, where there still a good deal of room for growth. The global average number of financial electronic devices per million capita is 204 China, compared to over 500 in developed countries.
Nantian will also now benefits from a reduced rate of income tax after being named a key software enterprise and by the State Planning council in November.
