Subsidiary discontinued, NationStar Optoelectronics is substantially reduced performa
The NationStar Optoelectronics Co., Ltd. today announced, the company expects 2012 net profit will reach to 30.127 million to 4820.3 million yuan (below), a year-on-year decline of 60% to 75%. Previously, the company had forecast in the three quarterly, year 2012 net profit year-on-year variations of only -10% to -30%.
The reason why such a huge change in just two months forecast, mainly because NationStar Optoelectronics proposed equity affiliates Xu Rui Optoelectronics provision for long-term equity investment impairment, specific provision for the amount expected 37 million to 41 million yuan between.
NationStar Optoelectronics view of Xu Rui Optoelectronics is discontinued pending reorganization of the state, and Xu Rui Optoelectronics foreign shareholders SemiLEDs has the long-term equity investment in its 2012 annual report, full provision for impairment . According to the relevant provisions of the SFC, the company plans this year, Xu Rui Optoelectronics provision for long-term equity investment impairment. Because Xu Rui photoelectric book value of long-term equity investment of 64,829,800 yuan, this provision will affect the profit for the year 2012 decreased by 37 million to 41 million yuan.
Information, 2010, SemiLEDs, country star power, brilliance, Zhejiang Beijing Langpohl, Ireland, Italy Di investment, investment in high-tech industries in Nanhai District jointly established Xu Rui Optoelectronics, country star power stake 15 %. Xu Rui Optoelectronics is mainly responsible for the operation, a total investment of over 350 million U.S. dollars, known as the the Foshan largest LED upstream investment projects.
In March 2011, Xu Rui Optoelectronics officially enter the tapeout production stage. However, in 2011 the domestic upstream LED chip suffered a cruel overcapacity pressure, and the resulting long-term low-cost stock market vicious competition. In this situation, Xu Rui optoelectronic 2011, operating income for the year was only 3.94 million yuan, net profit of 65.22 million yuan loss. In the first half of this year, Xu Rui Optoelectronics executive team disbanded, and the factory in a shutdown state. For more information about mr bulbs, you can visit LEDMarketing.com.