Ruifeng photoelectric third quarter net profit fell by 5 million 960 thousand year on year of 69%

REFOND released in October 26th third quarterly report, the reporting period, the company achieved revenue of 229 million yuan, down 17.49%, attributable to ordinary shareholders of listed companies net profit of 5 million 967 thousand and 300 yuan, down 68.97%. For reasons of revenue and net profit reduction, the report shows that the economic environment is bad, the size of the LED backlight market demand decline, lighting LED sales decline, sales revenue and gross margin decreased.

In addition, the company believes that LED packaging industry has attracted all kinds of social capital into a number of LED packaging enterprises increased year by year, and with the LED listed companies raise investment projects put into production, production capacity will continue to release, exacerbated the domestic packaging industry competition.

In order to seize the opportunity of industry mergers and acquisitions, the company intends to acquire Shenzhen yega Technology Co., Ltd. the remaining 85% stake, into the small size LCD backlight LED segments, the acquisition still needs to be approved by the SFC China.

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