Absen Opto Revenue Slid 35%-45% in 1H15

In its latest fiscal report for first half of 2015, Absen Opto announced its net profit declined compared to the same period a year before.

During the first half of 2015 (from Jan. 1, 2015 to June 30, 2015) Absen announced its net profit dropped 35% to 45% YoY to reach RMB 42.67 million to 50.43 million.

According to Absen Opto, the company’s revenue performance during the reporting period was mostly affected by revenue declines compared to the same period a year ago. The company’s revenue during the first half of 2015 declined, due to increased costs. Absen Opto attributed the growing costs to increased international sales investments and costs; escalating investments in new oversea establishments; escalating R&D expenditures; rising operating costs in Huizhou manufacturing base; and limited stock option offered to employees during first half of 2015 cost the company RMB 9.3 million.

The company’s non-recurring profits for first half of 2015 was RMB 5.81 million, and included profits from the company products and government subsidiaries.

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