NVC 2017 sales revenue of over 4 billion, China is still the main battlefield"

Yesterday (22) evening, NVC (hereinafter referred to as "the company") released 2017 annual report, as of December 31, 2017, the company achieved sales revenue of 4 billion 63 million yuan, an increase of 6.7%, of which LED lighting products to achieve sales revenue of 3 billion 166 million yuan, an increase of 17.4%; sales gross profit 1 billion 173 million yuan, an increase of 14.9%, gross margin from 26.8% to achieve 28.9%; the parent company owner should take profits 314 million yuan, an increase of 108.2%.

By products, lighting products to achieve sales revenue of 2 billion 882 million yuan, 918 million yuan of lighting products, lighting electrical products 263 million yuan; according to the division of the market, the company achieved domestic sales revenue of 2 billion 810 million yuan, the sales income of 1 billion 253 million yuan.

According to announcements, during the reporting period, lighting products sales growth of 9%, mainly due to the company's commercial lighting and lighting Home Furnishing double channel business model of successful transformation, commercial lighting and lighting products sales Home Furnishing steadily; lighting products sales fell 2.6%, mainly due to the traditional lighting products market capacity gradually narrowed, and sales prices continued due to lower sales growth of 19.8%; lighting electrical products, due to the reporting period, increase the non NVC brand LED lighting appliances product development and market resources, the main international customer non NVC brand LED lighting appliance products sales increased steadily.

Secondly, LED lighting products sales growth of 17.4%, non LED lighting products sales fell 19.1%, mainly the company to seize the favorable opportunity of LED lighting industry and consumer demand rising market penetration, by continuing to strengthen the LED lighting product development, channel development and market resources, successfully seize market share of LED lighting products and LED lighting by fierce competition; the influence of traditional products, lighting products sales decline, both showing the shift in the trend.

In addition, during the reporting period, lighting product gross margin increased from 30.9% to 34.5%, mainly R & D company continued to reduce cost, purchasing cost reduction, manufacturing cost reduction and cost reduction of four artificial cost reduction measures have achieved positive results, and the camp part lighting products high price; light source product gross margin decreased from 16.2% to 12.5%, mainly due to a LED light source products for the stability of the international market order resources and give the main customers higher prices; on the other hand, traditional light source products affected by the LED light source products competition showing volume and price down situation, resulting in the overall decline in product gross margin and light source; lighting appliance product gross margin increased from 23.3% to 24.7%, mainly high margin LED lighting electrical products on the market and achieved good results, and cost measures to implement the company overall reduction and exchange rate fluctuations Influence

In addition, the domestic sales gross margin rose from 30.6% to 34.6%, mainly due to the company's overall cost reduction measures to achieve positive results, some products trading price improved and the influence of product structure change; and international sales generated gross margin decreased from 18.4% to 15.9%, mainly during the reporting period, the main customers for the stability of the international market the share of orders and give higher price concessions, and a company operating in the international market of the Affiliated Companies by the local exchange rate fluctuations resulting in gross margin decline.

On the same day, NVC also announced the announcement, Ms. Yang Jianwen (Ms. Yang) to devote more time to their other affairs, has resigned as non-executive directors of the company, the audit committee members and members of the independent commission of inquiry, the resignation with effect from March 22, 2018.

NVC said, Ms. Yang resigned after the company's audit committee, only two members, the number is less than the minimum requirements specified in the rules of procedure of the audit committee of the company. We are as soon as possible to identify and appoint a suitable person to fill the vacancy of the company's audit committee.

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