In 2011, Crystal Optoelectronics achieved operating income of 433 million yuan, an increase of approximately 30.51% over the same period of last year. The total profit reached 148 million yuan, an increase of 37.60% over the same period of last year. The net profit attributable to shareholders of listed companies was 122 million yuan, compared with last year. The increase was 30.23%.
In 2011, due to fluctuations in demand in the LED industry and expansion of production capacity, the price of long-crystal raw materials for LED sapphire substrates decreased significantly, with a drop of more than 50%, resulting in a certain price loss for the company's inventory. The company expects to achieve a 40%-60% increase in target sales for the full year of 2012, and a net profit of 30%-50%.
Crystal Optoelectronics expects that the net profit attributable to shareholders of listed companies will be greater than 50% from the same period of the previous year in January-March 2012. It is expected that the company's sales revenue in the first quarter of 2012 will not decrease, but the performance will drop significantly. There are the following points:
(1) In the first quarter of last year, the industry's off-season was not weak, sales were strong. In the first quarter of this year, the relative off-season, plus the Spring Festival employees' holiday time was older than the previous year, the sales revenue did not reach the expected target, resulting in a decline in the company's performance.
(2) Due to the high turnover rate of employees in the year, in order to strengthen the stability of employees, the company adjusted the production hours in the first quarter of this year, which reduced the labor intensity of employees. At the beginning of this year, the number of new employees increased to a certain extent. Some reserves, in view of the lack of proficiency of new employees, lead to inefficient labor.
(3) With the expansion of the company's scale and the investment of new products, the company's corresponding fixed costs continue to rise. At the same time, in the second half of last year, the company increased the implementation of the “530 Project†talent plan, which increased the labor reserve cost and led to an increase in costs.
(4) With the continuous upgrading of the technology of terminal consumer electronic products and the continuous improvement of new product technologies, the requirements for the company's products are getting higher and higher. In the first quarter, the company has more new models and new specifications, and the yield level is high. Some fluctuations have occurred, resulting in a decline in performance.
(5) As the wholly-owned subsidiary Jiangxi Crystal Photoelectric Co., Ltd. has just started production in the first quarter of this year, all aspects of production and management of the new factory are still in the running-in period, and the production capacity and efficiency have not been fully utilized.
In 2011, due to fluctuations in demand in the LED industry and expansion of production capacity, the price of long-crystal raw materials for LED sapphire substrates decreased significantly, with a drop of more than 50%, resulting in a certain price loss for the company's inventory. The company expects to achieve a 40%-60% increase in target sales for the full year of 2012, and a net profit of 30%-50%.
Crystal Optoelectronics expects that the net profit attributable to shareholders of listed companies will be greater than 50% from the same period of the previous year in January-March 2012. It is expected that the company's sales revenue in the first quarter of 2012 will not decrease, but the performance will drop significantly. There are the following points:
(1) In the first quarter of last year, the industry's off-season was not weak, sales were strong. In the first quarter of this year, the relative off-season, plus the Spring Festival employees' holiday time was older than the previous year, the sales revenue did not reach the expected target, resulting in a decline in the company's performance.
(2) Due to the high turnover rate of employees in the year, in order to strengthen the stability of employees, the company adjusted the production hours in the first quarter of this year, which reduced the labor intensity of employees. At the beginning of this year, the number of new employees increased to a certain extent. Some reserves, in view of the lack of proficiency of new employees, lead to inefficient labor.
(3) With the expansion of the company's scale and the investment of new products, the company's corresponding fixed costs continue to rise. At the same time, in the second half of last year, the company increased the implementation of the “530 Project†talent plan, which increased the labor reserve cost and led to an increase in costs.
(4) With the continuous upgrading of the technology of terminal consumer electronic products and the continuous improvement of new product technologies, the requirements for the company's products are getting higher and higher. In the first quarter, the company has more new models and new specifications, and the yield level is high. Some fluctuations have occurred, resulting in a decline in performance.
(5) As the wholly-owned subsidiary Jiangxi Crystal Photoelectric Co., Ltd. has just started production in the first quarter of this year, all aspects of production and management of the new factory are still in the running-in period, and the production capacity and efficiency have not been fully utilized.
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