Net profit 267 million! Hua photoelectric 2016 turnaround

Hua photoelectric February 26th evening annual report, the company achieved revenue of 1 billion 582 million yuan in 2016, an increase of 65.62%, net profit of $267 million, a loss of $95 million 963 thousand and 900 for the same period last year, basic earnings per share of $0.35. The company intends to send 0.5 yuan (including tax), 10.

Specifically, in 2016, the number of chip sales growth of 130.96% over the previous year, while the acquisition of aquamarine technology to further enhance the overall revenue, operating income 1 billion 582 million 307 thousand yuan, representing an increase of 65.62% over the same period last year. At the same time, epitaxial film production efficiency and product performance to further enhance the export of South Korea epitaxial film has a substantial growth, export revenue grew by 217.60% over the previous year. The gross profit margin of export products is higher than that of domestic products.

According to the announcement, in 2016 compared with the same period last year net profit increase is due to: during the reporting period, with the upgrading of the completion of the project, increase the scale of production and marketing, the company LED chip production growth of 93.95% over the previous year, the capacity to enhance the company's sales volume and sales revenue compared with the same period last year has increased significantly the company scale, benefit gradually reflected, costs will be reduced, become one of the main sources of corporate profit growth this year. Actively promote the budget management, strictly control the cost, the beginning of the foreign debt and foreign currency payments to hedge risk management measures, the company in 2015 this year than the actual financial expenses decreased. On the other hand, according to the company business development plan to continue to achieve government subsidy income large, 2016 year impact of non recurring gains and losses on the company's net profit amounted to 241 million 681 thousand and 800 yuan, a year earlier Huacan Au Optronics Co 2016 annual report of 2 billion 294 million 695 thousand and 100 yuan, net profit growth contribution.

In addition, the company expects first quarter 2017 profit of about 76 million yuan -8100 million, up losses. During the reporting period, the company's LED chip production increased by more than 90%, the company achieved large government subsidies, the impact of non recurring gains and losses on net profit of $242 million.

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