At noon on March 31, Ruifeng Optoelectronics released a performance forecast for the first quarter of this year. It is expected that the net profit attributable to shareholders of listed companies will fall by 20% to 0% compared with the same period last year, and the expected profit is 6.8446 million yuan to 8.5558 million yuan.
Regarding the reasons for the change in performance, Ruifeng Optoelectronics stated that since the second half of 2013, the LED lighting market has ushered in opportunities for rapid development with the decline in LED product prices. However, product prices have also dropped rapidly with the fierce competition in the market, and profits have also dropped significantly. In the first quarter of 2014, although the company's overall sales achieved good growth, the growth mainly came from lighting LED products, while medium and large-sized backlight products, which contributed significantly to the company's profits, experienced a slight decline, resulting in a year-on-year decline in the company's overall profits.
In the 2013 annual report released earlier, the growth of Ruifeng Optoelectronics' operating income in 2013 mainly came from lighting LEDs. Ruifeng Optoelectronics' lighting LED revenue in 2013 was 329 million yuan, accounting for 48.30% of total revenue, a year-on-year increase of 159 million yuan, and a year-on-year increase of 92.87%.
It is important to note that Ruifeng Optoelectronics mentioned that the profit of lighting LED in 2013 was 43.4148 million yuan, with a gross profit margin of 13.18%.
ANNA