Refond Estimates LED Lighting Performance to Increase 20%-34%

Refond Optoelectronics released their performance report for 2013 on January 14th. The company estimates that market listed company shareholder net profit will reach between RMB 56 million and RMB 63 million (US $9.3 million and US $ 10.4 million), growth of 20-34 percent YoY. Net profit in 2012 was RMB 46.86 million.

The company expanded LED lighting developmental efforts in the stable LED LCD TV market in 2013. Approximately RMB 14 million of the total RMB 27.23 million government subsidy received by the company impacted its current quarter’s income.

LED lighting is welcoming opportunities brought on by rapid development due to continued governmental support from China in the LED field in 2013, limits placed on incandescent applications, and lowered prices for LED lighting products. With traditional lighting companies increasing LED lighting expansion, market share is quickly increasing.

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