Chinese LED manufacturer Elec-Tech released their 3Q financial report on October 29th, 2013. Revenue for 3Q reached RMB 916 million (US $150 million), a growth of 27.15 percent compared to 3Q last year, a gross profit margin of RMB 2.44 million for shareholders, a yearly increase of 97.36 percent with each stock EPS declined RMB 0.0002 each. Combined revenue from the first three quarters in 2013 was RMB 2.27 billion, a yearly growth of 16.69 percent. Gross profit margin of RMB 50 million for shareholders, which was a yearly decrease of 56.45, EPS of RMB 0.04 for each stock.
According to the company's financial report, combined gross profit margin for company stockholders for Jan.-Sept. 2013 was RMB 50 million, lower than last year's RMB 115 million by 56.45 percent during the same period due to decrease in government subsidiary and large increase in financial expenses. Elec-Tech's financial report also revealed the company only received RMB 87.65 million in government subsidiary compared to last year's RMB 163 million.
Elec-Tech non-business income for Jan.-Sept. this year had a larger drop than the same period last year, having declined to RMB 88 million this year from RMB 164 million in 2012 . Stock prices for 1Q-3Q13 are RMB 0.04, a dip of 60 percent compared with 1-3Q12 stock prices of RMB 0.1.
From the perspective of Elec-Tech upstream wafer production capacity, Wuhu Elec-Tech and Yangzhou Elec-Tech 3Q had a combined shipment total of 92 MOCVD equipment. Among these, 54 units are already in mass production, two are used in R&D and the remaining equipment is currently in the debugging and installation process. Industry insiders expect that Elech-Tech could continue increases in MOCVD equipment this year.
