Honglitronics Income to Drop First Three Quarters

Honglitronics released their report for the first three quarters 2013, stating that gross profit margin for affiliated listed company shareholders for Jan.- Sept. 2013 was RMB27.1412 million - RMB36.1882 million, a drop of 20-40 percent since last year.

The company’s report stated that gross revenue for Jan.- Sept. 2013 was RMB474.9334 million - RMB514.5111 million, a growth from last year of 20-30 percent; earnings per share are usually RMB0.1106 - RMB0.1474 dipping 20-40 percent since last year.

Honglitronics says that factors that caused gross profit margin for affiliated stock holders to drop compared with last year include:
1. Large drop in LED product sales price compared to last year caused gross profit margin to fall as well.
2. Rise in new industrial park operation fees

The report for the first three quarters 2013 was compiled by the company’s finance department which estimates that the revenue first three quarters for 2013 will not be the usually RMB4 million. Full statistics can be found in the company’s first three quarters 2013 report.

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