FSL investment 400 million to expand energy production capacity

Washington FSL plans to invest 400 million yuan of its own funds, expand T8, T5 fluorescent lamp and energy-saving lamp production scale. FSL said that after the two projects put into operation, the company can lay a good foundation for the next 3 to 5 years, and can increase the annual sales revenue of $550 million. In addition, FSL intends to introduce the production of ceramic metal halide lamp technology and equipment construction, while interested in joint venture with Taiwan enterprises to produce LED products. Among them, FSL intends to invest 300 million yuan, the expansion of T8 fluorescent lamps and energy-saving lamp production workshop of 70 thousand square meters. After the expansion, T8 new production line 10, from the current annual output of 200 million, an annual output of up to 300 million; energy saving lamps from the current annual output of 60 million, an annual output of up to 120 million. At the same time, FSL intends to invest 100 million yuan to buy the T5 production line of the, and the construction of a plant of 20 thousand square meters, T5 fluorescent lamp production capacity of the existing production line by the annual production of 15 million units, an increase of up to 55 million. In addition, FSL semi annual report shows that copper, heavy oil, oil and other prices continue to rise and exports affected by the appreciation of the renminbi, to bring pressure on the company's production and operation. In the first half of this year, sales revenue compared with the same period last year, a certain increase, but the main business profits but failed to rise simultaneously. Main business income 695 million yuan, an increase of 14.94%; net profit of $297 million, an increase of 155.6%. Net profit growth is mainly due to a substantial increase in investment income.

Source: Securities Star