Sanan Optoelectronics: Non-net profit increased by 90% in the first half of the year

Sanan Optoelectronics today announced its first-half performance forecast. The net profit for the first half of the year is expected to be between 450 million and 470 million yuan. In the same period of last year, the company’s net profit was approximately 460 million yuan, net profit after non-recurring gains and losses was 156 million yuan, and earnings per share was 0.32 yuan.

According to the company, the production capacity of Anhui Sanan Optoelectronics Co., Ltd., a wholly-owned subsidiary of the company, was released in the first half of the year, and its main business income increased. In the first half of 2012, net profit after deducting non-recurring gains and losses increased by more than 90% over the same period of last year.

It is also known that Anhui Sanan Company was announced in early 2010 to establish an optoelectronic industrialization project for the company to invest and build in Wuhu City. In 2010, the company's non-public issuance of shares to raise capital was implemented and the net proceeds raised were nearly 3 billion. All of them were invested in Anhui San'an LED Industrialization (Phase 1) project construction. As of the end of 2011, some of the above-mentioned project equipment has been put into production. The company achieved a main business income of 1.55 billion yuan and a net profit of 330 million yuan. Most of the rest of the equipment has been installed and commissioned. After the auxiliary facilities are operating normally, the company will gradually put in surplus equipment and the benefits will be gradually reflected.