Dongshan Precision released the first half of 2012 performance report, the company achieved a total operating income of 688 million yuan, an increase of 14.27% over the same period of the previous year; net profit attributable to shareholders of listed companies was 33.568 million yuan, down 45.59% over the same period of the previous year.
According to the company, in the fourth quarter of 2011, the first phase of the LED business in the company's precision electronics manufacturing was put into production. As the yield has to be improved, it has affected the net profit in the first half of 2012. Since the second quarter of 2012, the LED business has reached production and sales revenue. And the gross profit has achieved rapid growth.
Dongshan Precision has made a number of investments and is engaged in the extension of precision manufacturing of downstream electromechanical equipment and LED lighting manufacturing. However, due to the short investment time, the subsidiaries are still in the construction period or market development period, which causes the newly established subsidiaries to temporarily lose money, thus affecting the net profit of the consolidated statements.
Looking forward to the second half of 2012, with the company's one-stop service capability for customers, the company will continue to improve its R&D and innovation capabilities, strengthen its core strengths in precision manufacturing services, and implement precision metal manufacturing and precision electronics manufacturing. The development strategy of two-wheel drive, continuous improvement of process innovation, strengthening of cost accounting, and gradually establishing a refined management system to enhance the company's core competitiveness.
According to the company, in the fourth quarter of 2011, the first phase of the LED business in the company's precision electronics manufacturing was put into production. As the yield has to be improved, it has affected the net profit in the first half of 2012. Since the second quarter of 2012, the LED business has reached production and sales revenue. And the gross profit has achieved rapid growth.
Dongshan Precision has made a number of investments and is engaged in the extension of precision manufacturing of downstream electromechanical equipment and LED lighting manufacturing. However, due to the short investment time, the subsidiaries are still in the construction period or market development period, which causes the newly established subsidiaries to temporarily lose money, thus affecting the net profit of the consolidated statements.
Looking forward to the second half of 2012, with the company's one-stop service capability for customers, the company will continue to improve its R&D and innovation capabilities, strengthen its core strengths in precision manufacturing services, and implement precision metal manufacturing and precision electronics manufacturing. The development strategy of two-wheel drive, continuous improvement of process innovation, strengthening of cost accounting, and gradually establishing a refined management system to enhance the company's core competitiveness.
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