Telecom products and services distributor mDR Limited turns losses into profits

Singapore telecom products and services distributor mDR Limited achieved a net profit of RMB 5.327,000 in the second half of last year, reversing the net loss of RMB 25.621,000 in the same period of the previous year.

mDR released its results on the evening of Friday (February 28). The company achieved revenue of 110.86 million yuan in the second half of the 2024 fiscal year ended December last year, a year-on-year decrease of 9%, and annual revenue of 232.03 million yuan, a year-on-year increase of 8%.

The net profit for the full year of fiscal year 2024 was 5.476,000 yuan, reversing the net loss of 42.476,000 yuan in the previous year. The company recommends paying a new dividend of 0.23 per share.

mDR said in its performance comments that the annual revenue increase was due to the growth of the mobile device distributor business and investment sectors. Among them, the distributor business's revenue increased by 8% to RMB 188.1 million in fiscal year 2024, thanks to the increase in mobile phone sales. Although the decrease in in-store purchases has limited further revenue growth to some extent, the increase in mobile virtual network service solutions of telecom company ZYM Mobile has offset the negative impact to some extent.

The revenue of the after-sales service business fell 25% year-on-year to RMB 16.2 million, mainly due to the decrease in repair orders and the decline in parts revenue.

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