TIDMKADA

RNS Number : 5963V

Kada Technology Holdings

16 January 2013

 
 Press Release   16 January 2013

Kada Technology Holdings Limited

("Kada", the "Company" or the "Group")

Board Change

Kada Technology Holdings Limited (AIM:KADA), the China-based provider of components and devices for the IT industry and consumer electronics, today announces that due to personal reasons Lee Kheng Yam will step down from his position as Chief Financial Officer and as a director of Company with effect from 31 January 2013. Mr. Lee was an instrumental part of the team that achieved admission of Kada's shares to trading on AIM and the management would like to thank Mr. Lee for his efforts during his time with the Group. Mr. Lee's functions will be subsumed by two new financial controllers employed by the Group in both China and Hong Kong.

As detailed in the announcement of 30 October 2012, management expects that revenue for the year to 31 December 2012 will have increased year on year. Profit before tax is anticipated to be US$10 million.

- Ends -

For further information:

 
 Kada Technology Holdings Limited 
 Paul He Xuebo, Chief Executive Officer   Tel: +44 (0) 20 7398 
                                                          7702 
                                               www.kada-ir.com 
 
 
 finnCap Limited 
 Geoff Nash / Christopher Raggett   Tel: +44 (0) 20 7220 
                                                    0500 
                                         www.finncap.com

Media enquiries:

 
 Abchurch Communications Limited 
 Henry Harrison-Topham / Jamie Hooper     Tel: +44 (0) 20 7398 
                                                          7702 
 henry.ht@abchurch-group.com            www.abchurch-group.com

Notes to Editors

Kada was founded in 2004 and provides solutions for electronic devices, systems and media platforms (the "Solution Packages Business"). The Group also distributes and sells electronic components and provides technical support (the "Electronic Component Business"). Kada is headquartered in Shenzhen with offices in Hong Kong, Beijing, Zhuzhou and Mianyang in China, as well as Kuala Lumpur in Malaysia.

Kada's Distributorship Division distributes and trades a multitude of electronic components, predominantly Integrated Circuits ("ICs"). Kada sources electronic components from a number of suppliers that are based locally as well as from countries including PRC, Taiwan, Hong Kong and the USA. Many of Kada's electronic components are used in the manufacture of consumer electronics, internet terminals and routers as well as communication devices and media players.

The Company's Solutions Business involves the design, development and sale of solutions packages for electronic devices (such as netbooks, Netbox, handheld/tablet PC, electronic media kiosk). Solutions packages include product definition, structural, mechanical, visual and circuitry design, prototype testing, underlying software development, pilot production and production support. Solutions packages are either commissioned by customers or conceptualised in-house. The solutions packages offered by the Company are flexible ranging from designs of motherboard, to the development of a complete electronic device. Kada is currently expanding downstream into the provision and operation of a wireless media solution that incorporate small display terminals, mounted on a taxi's front passenger headrest that disseminates multimedia information and advertising programs for passengers. Taxis on the road will receive uploads of real-time information and data (for example local attractions, history, news highlights, public services information and simple interactive games and animations), via 3G or WiFi network, which are automatically displayed to the taxi passengers. Kada has rolled out the wireless taxi media solution in Mianyang city, Sichuan Province, PRCin late 2011, as a marketing showcase to demonstrate its wireless media technology capability.

For the year ended 31 December 2011, Kada reported audited revenue and profit before tax of US$82.4million and US$13.6 million respectively.

For further information on the Group, please visit Kada's investor relations website at www.kada-ir.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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