Chinese smartcard solutions supplier Eastcompeace (002017.SZ) has announced it expects Q1 profits to grow 100% to 120% YoY.
Eastcompeace is one of China Mobile's (NYSE: CHL; 0941.HK) first core suppliers of TD-SCDMA SIM cards, and has started to deliver a small number of cards. According to the firm it will use this opportunity to restructure in step with the growth of next generation telecommunications technology and actively fight for a larger market share.
Eastcompeace saw operational income of RMB 772 mln in 2007, up 41.5% YoY. SIM cards accounted for RMB 496 mln of this, up 43.6%. It is number one in mainland China in terms of SIM card volume manufactured and total market share.
Editor's note: Guangdong-based Eastcompeace, a subsidiary of China Putian (Potevio), was established in 1998 and listed in Shenzhen in 2004. It offers the following smartcard products and related solutions: microprocessors and memory cards for various uses, including wireless communication (SIM cards), government (identity/health), payment systems (ATM, Visa, Mastercard), and loyalty of membership programs; middleware server solutions, such as over-the-air provisioning and in-house personalization; and professional services, such as smartcard project consulting and training support.