Chinese LED manufacturer Leyard’s estimated net profits had shoot up 90% to 110% in 2014 to RMB 152 million to RMB 162 million (US $24.45 million to US $26.06 million), according to a Chinese-language Panorama Network report.

In 2013, the company’s net profit was a mere RMB 80.22 million.

The company attributed the exponential growth to small pitch LED display orders, which soared 103% in 2014 compared to 2013. Additionally, oversea orders neared RMB 350 million, climbing up 75% in comparison to 2013.

The positive impact from Leyard’s acquisitions of Jinda Lighting and Leyard Display also became evident in 2014, with both companies meeting their profit targets in 2014. Furthermore, Leyard received more than RMB 30 million worth of subsidies from the Chinese government, which also contributed to its high revenue and net profit growth this year.