Elec-Tech States that Its MOCVD Equipment will not Reach 110 Units by the End of June in Announcement

Elec-Tech International Co., Ltd. (hereinafter referred to as Elec-Tech) released announcement on June 20 to clarify, it was stated in the announcement that income data reported in media reports only is the judgment of Donglei Wang based on his personal opinion about the development prospects of LED lighting industry, not budget data and earnings forecasts of Elec-Tech and NVC.

Recently, it has been reported that Donglei Wang said in an interview that NVC's sales revenue in this year will be more than $ 6 billion Yuan, and the total revenue of NVC and Elec-Tech in next year is expected to be 10-12 billion Yuan, as long as the LED business maintains an annual growth of 30% -50%, the revenue will reach 35 billion Yuan within five years.

In this regard, Elec-Tech said that the specific sales data of Elec-Tech and NVC in 2013 and 2014 are unpredictable. Speculated according to the current situation, the sales revenue of NVC in 2013 will not reach 60 billion in 2013, and the total income of Elec-Tech and NVC will not amount to 10-12 billion Yuan.

The annual revenue of Elec-Tech in 2012 is 2.758 billion Yuan, while the annual revenue of NVC in 2012 is 3.546 billion Yuan. Elec-Tech achieved operating income of 705 million Yuan in the first quarter of 2013, and its net profit is 43 million Yuan. Elec-Tech expects that the net profit attributable to shareholders of listed companies in the first half of 2013 would be between 50 million to 87 million Yuan, a decrease of 30% to 60% year-on-year.

Elec-Tech stated that as of now, 92 sets of MOCVD equipment has arrived in Elec-Tech, 45 sets have been debugged, 5 units for R & D, the remaining devices are in installation and commissioning. According to the arrive progress predicated by Elec-Tech's equipment procurement sector, its MOCVD equipment will not reach 110 units by the end of June of 2013.

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