Shenzhen Transsion Holdings, known as the king of African smartphones, expected to realize a net profit of 1,670,371,200 to 1,882,602,200 yuan in 2019, a year-on-year increase of 154.110% to 186.31%, according to a company filing on Thursday.
The company estimates that the net profit after deducting non-recurring gains and losses in 2019 will be RMB 1.4644424 million to RMB 161.817774 million, a year-on-year increase of 14.87% to 32.16%.
According to Transsion, in 2019, the company continued to maintain strong profitability in the African market, while operating in the Indian market also showed a good trend.
The company's purchase of foreign exchange forward contract products in 2018 resulted in a loss of 779,732,200 yuan, which had a large impact on the net profit attributable to the owners of the parent company in 2018.
After years of development, Transsion is known as the King of Africa's smartphones. In 2018, Transsion's African market share was as high as 48.71%, and India's market share was 6.72%.
