LED news: Abison Q1 net profit decline, Australia Shunchang signed a strategic agreement

Abison Q1 net profit fell 22%-28%

Abison April 8th evening released first quarter results notice, the company in the first quarter of 2016 attributable to shareholders of listed companies net profit of 21 million 720 thousand yuan -2354 million, down 22%-28%.

The reason for the change in performance, notice that there are two, 1, company LED display sales orders year-on-year growth of about 40%, but due to the delivery of orders and supply of raw materials, operating income over the same period last year rose only slightly, but the gross margin year-on-year rise. 2, the company continued to increase investment in the market, especially investment in overseas sales increased significantly, resulting in cost of sales increased; due to the factors of foreign exchange rate changes, the company's first quarter foreign exchange earnings fell sharply from the previous year; due to growth in the amount of accounts receivable, the company accrued depreciation reserve volume over the same period last year. The company's first quarter non recurring gains and losses affect the amount of net profit of about 100 thousand yuan, mainly for financial products revenue; non recurring gains and losses over the same period last year, the amount of net profit of $4 million 250 thousand. Therefore, the company's performance decreased compared with the same period last year.

Australia Shunchang and Societe Generale Securities signed a "strategic cooperation agreement"

Australia Shunchang April 8th evening announcement, the company ("a") on April 8, 2016 and Societe Generale Securities Limited by Share Ltd (hereinafter referred to as "Societe Generale Securities" or "B") signed a "strategic cooperation agreement", the two sides through friendly consultations, mutual benefit and achieve win-win goal, establish strategic partnership. Party B as of 2013 and 2014 non-public issuance of bonds issued by the Switching Company sponsor and lead underwriter for party a solid metal logistics business LED and realize strategic business transformation, has played a positive and important role. As a strategic partner, Party A will be the preferred choice of Party B as brokerage services and capital operation, capital operation, B in the range of national policies, laws and regulations, make full use of resources, to carry out multi-level, multi field, and a full range of capital operation in terms of cooperation, and constantly upgrade to do service for Party A.

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