LED chip price drop Huacan Optoelectronics 2013 net profit decreased by 79%

Huacan Optoelectronics released its 2013 performance report. During the reporting period, the company achieved operating income of 316 million yuan, a decrease of 4.19% over the same period of the previous year; operating profit was -921.132 million yuan, a decrease of 384.66% over the same period of the previous year; total profit was 42.499 million Yuan, a decrease of 60.56% over the same period of last year; net profit was 18.063 million yuan, a decrease of 79.32% over the same period of last year; basic earnings per share was 0.06 yuan, a decrease of 81.47% over the same period of the previous year.

Huacan Optoelectronics said that the main reason for the decline in operating results: In 2013, the demand for LED chips continued to grow. However, the consequences of irrational price competition in the market led to the low price of chips, which was a significant drop from the same period last year. This phenomenon is particularly prominent in the first half of the year. Therefore, although the production and sales volume of the company's chips has significantly exceeded last year, the sales amount has not increased correspondingly, and the net profit is lower than the previous year.

In the second half of the year, as the market demand accelerated, the price of the chip narrowed down. The company's sales, product gross profit, operating profit and other indicators showed a quarter-on-quarter rebound. The Suzhou subsidiary's investment expansion in the second half of 2012 was effective until the beginning of the fourth quarter of 2013. Some of the production capacity of the Suzhou subsidiary began to be released. The company's production capacity was tight and the supply shortage to customers was improved.
Introduction

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