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November 2, 1999

Legend Sees First-Half Profit Up 63%

By CBR Staff Writer

Legend Holdings Ltd, the Hong Kong-listed arm of China’s top PC maker the Legend Group, has reported a 63.45% year-on-year jump in first-half profit to HK$173.54 ($22.25m) on revenue up 41.31% at HK$7.33bn ($939.7m). Vice chairman Li Qin said Legend brand PCs reported 64% sales growth in the first half giving the company a market share of more than 20% in the six months to September 30. The sales growth also propelled the Legend brand to top spot in the Asia Pacific region outside of Japan for the first time.

Sales of Legend PCs accounted for 49% of the company’s revenue in the first half of the year, up from 45% in the six months to March 31. Distribution of brand-name products from companies such as Hewlett-Packard, Toshiba and Cisco Systems made up 34%, systems integration accounted for 8% of sales and motherboards for 6%. Li said the company’s motherboard business, which lost more than HK$10m in the first quarter, returned to profitability in the second quarter and should be in the black for the rest of the year. Legend uses about 20% of the motherboards it produces and exports the rest.

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