Xuming Optoelectronics Q4 net profit -1217.10 million year-on-year decline of 308.44%

Xuming Optoelectronics announced its financial report. The announcement showed that the company's fourth-quarter net profit was -12.17 million US dollars, down 305.84% year-on-year; operating income was 188.30 million US dollars, down 39.69%.

Semileds Corporation was established on January 4, 2005, and the first LED chip sales began in November 2005. The company develops, manufactures and markets LED chips and LED components, both in terms of optical power per watt and cost per lumen.

The company's products were originally used in public lighting, including streetlights and commercial, industrial, and residential lighting.

The company sells MVPLED brand blue, green and UV LED chips for consumers in China, Taiwan and other Asian regions.

The company sells its LED chips to wholesalers and distributors and then sells them to packagers. In addition, the company packages a portion of its LED chips into LED components for distribution to distributors and end consumers in designated markets.

The company's share price fell 3.84% on the day, closing at 3.76 US dollars, turnover of 25,200 shares.


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