Changfang Lighting (300301) released its 2014 annual report on the evening of April 6. The company achieved operating income of 921 million yuan last year, an increase of 13.32% year-on-year; the net profit attributable to ordinary shareholders of listed companies was 50,673,100 yuan, an increase of 84.36%.
The company said that the LED industry is in the stage of rapid development, especially with the improvement of LED luminous efficiency and the gradual decline of cost, the development prospect of LED lighting market is particularly broad. Huizhou Changfang, a wholly-owned subsidiary of the company, has completed the construction of some basic frameworks. After the Huizhou Changfang plant is put into use, the production capacity of the company's applied products will further increase. At the same time, the company's major asset restructuring was approved by the CSRC during the reporting period. Changfang Lighting will acquire 60% of Kangmingsheng in cash and by way of issuing shares.
Changfang Lighting expects to achieve a profit of 6.8 million yuan - 7.5 million yuan in the first quarter of 2015, a decrease of 7.03% to 15.71%. The company said that the strategic adjustment of the product structure affected the production and sales of some products, resulting in a decline in the company's first quarter 2015 results.
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