On the evening of January 14 , "G20-LED Summit member company" Qinshang Optoelectronics (002638) released the 2013 annual performance forecast amendment announcement. According to the announcement, the company reported in the third quarter of 2013 that the net profit attributable to shareholders of listed companies in 2013 was 1.05 to 136 million yuan.
After the performance revision, the company expects the net profit attributable to shareholders of listed companies in 2013 to be 89.443 million yuan to 121.0131 million yuan, a change of -15% to 15% over the same period of the previous year.
Qinshang Optoelectronics said that the reason for the revision of this performance forecast is that in the fourth quarter of 2013, the company developed a number of new products, which led to an increase in research and development expenses. In 2013, the LED market competition further intensified, resulting in the company's fourth quarter gross profit margin in 2013. Further decline; in order to further seize the market and grasp the timing of the LED industry, the company's market expansion and promotion expenses in the fourth quarter of 2013 further increased; the company's accounts receivable payment is not as expected, which will lead to an increase in the company's provision for bad debts, and correspondingly reduce profits.
After the performance revision, the company expects the net profit attributable to shareholders of listed companies in 2013 to be 89.443 million yuan to 121.0131 million yuan, a change of -15% to 15% over the same period of the previous year.
Qinshang Optoelectronics said that the reason for the revision of this performance forecast is that in the fourth quarter of 2013, the company developed a number of new products, which led to an increase in research and development expenses. In 2013, the LED market competition further intensified, resulting in the company's fourth quarter gross profit margin in 2013. Further decline; in order to further seize the market and grasp the timing of the LED industry, the company's market expansion and promotion expenses in the fourth quarter of 2013 further increased; the company's accounts receivable payment is not as expected, which will lead to an increase in the company's provision for bad debts, and correspondingly reduce profits.
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