BDO Q1 net profit fell 4 billion 155 million yuan in revenue last year

The 29 announcement on 2014 earnings, the company achieved operating income of 4 billion 155 million yuan, up 32.74% over the previous year.

Management believes that is mainly due to the reporting period, small home appliances business growth of 20.26% over the previous year, operating income of LED products due to an increase of 46.27% over the previous year, net profit attributable to shareholders of listed companies, the basic earnings per share were 112.22% higher than the previous year, 111.13%; cash flow from operating activities was 334 million 235 thousand and 600 yuan, up 25.14% over the previous year.

According to the announcement, LED lighting products due to Wuhu, Bengbu, Zhuhai three bases and increase the capacity to release the shipping channel NVC production and sales have increased significantly.

Notice that the company holds a 27.03% stake in NVC Holdings Limited, is the largest shareholder. NVC for the company's investment in the joint venture, NVC using the equity method of accounting. NVC in April 16th, it issued a "delay to publish and distribute the annual results for the year ended December 31, 2014 and suspended" announcement, is expected to be released in May 10, 2015 by the 2014 annual performance audit, the company did not disclose the main financial data.

In addition, Elec-Tech also disclosed a quarterly reporting period, net profit attributable to shareholders of listed companies -9329.23 million yuan, down 161.61% over last year, mainly during the reporting period, gross profit margins fell sharply, down 20.51% from the same period last year to 12.47% during the period.

Elec-Tech said the main reasons are as follows: gross margin decline (1) LED industry due to fierce competition in the market, LED chip, lighting products prices decline over the same period last year. (2) LED chip and lighting products production in the first quarter of 2015 has been fully released, but a quarter sales season, low capacity utilization, resulting in fixed costs is not diluted, the manufacturing cost of the product is higher than the level of the previous year. (3) changes in product mix. Display products LED high gross margin of the proportion of total operating income decline, down 14.68% from the same period last year to 3%; the LED chip products of small household electrical appliances, lower gross margin accounted for the proportion of sales revenue increased by 66% over the same period last year to 71%.

For more information about LED, please click on China LED network or pay attention to WeChat public account (cnledw2013).