Vertical International Holdings Limited (8375.HK) gains 37.6% revenue growth in 2021 driven by increased sales of self-manufactured aluminum electrolytic capacitor products
Vertical International Holdings Limited, stock code 8375.HK (“Vertical International” or “The Group”) reported 2021 Annual Results for the year ended 31 December 2021. The Group’s 2021 total revenue was HK$132.5 million, a rise of 37.6%, from approximately HK$96.3 million in 2020. Sales of the Group’s self-manufactured aluminum electrolytic capacitor products increased substantially from approximately HK$78.2 million in 2020 to approximately HK$105.0 million in 2021. The 2021 gross profits grew by 53.3% or HK$8.1 million year on year to approximately HK$23.3 million.
Vertical International derived its 2021 revenue mainly from sales of manufactured aluminum electrolytic capacitors and sales of trading electronic components. The growth of sales revenue was also attributable to the Group’s business expansion with key and new customers and its aggressive pricing strategy to enlarge its market share. The Group will continue to carefully and extensively review the current situation about costs and resources deployment and will consider tightening its control over the operating costs effectively to maximize its profits.
The Group Chairman and Chief Executive Officer Mr. Henry Boon said, “We achieved a solid financial performance in 2021 particularly growing sales volume in China – our largest customer market due to improved and recovered economy in China in favor of its successful multiple measures and reliefs in the context of the Covid-19 pandemic.”
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