GRGBanking Revenue Up 21% to US$ 320 Million

GRG Banking Equipment Co., Ltd. (SZSE: 002152) released annual financial result on Feb 24, 2012. The company will officially released annual report in March 29 and the annual financial result is for reference only.

According to the report, the company's 2011 revenue was 2,089 million RMB (US$331.59 million), increasing 21.18% year-on-year; sales profit rose 10.81% to more than 502.9 million RMB. Total profit witnessed 13.12% increase, reaching the amount of 594.5 million RMB (US$94.36million). Compared with the same period of 2010, GRGBanking net profit attributable to shareholders grew 6.54% to 506.1 million RMB (US$80.35 million).

ATM business was still the key of GRGBanking. ATM can provide high-end financial service to customers of the banks and save cost for the banks, which was regarded as the strategic focus in 2011. The ATM business operated well in some big cities of China.

GRGBanking is a leading provider of currency recognition and cash processing solutions in the global market with great potential and rapid development. GRG specialize in the development/ manufacturing of Automatic Teller Machine (ATM) for financial institutions and retailers, Automatic Fare Collection (AFC) devices for railway or underground systems, as well as other currency recognition and cash processing equipment, modules and systems for over 20 years. Besides, GRG’s various Multi-Channel Software Solutions and Services cover the needs of the financial industry, retail, transportation, payment, self-service, cash automation, cash management outsourcing and managed services, customized for different customers around the world.

Established in 2009, GRGHK is in charge of all global business operation of GRGBanking. With branches and representative offices in Hong Kong, United States, Mexico, Australia, South East Asia, Dubai and CIS region, GRGHK’s marketing and service network has expanded all over the world.