Lianovation recently announced its revenue was up 22.14% to RMB 1.96 billion (US $320 million) in 2014.

The company’s net profit had increased 40.32% to RMB 133 million.

The company continued its focus in LED backlight market operations, and has expanded its presence in small to mid-sized LED backlight components for smartphones, as well as in large backlight products such as computers and displays. The company has escalated its mid to large sized backlight business, and its product portfolio now covers high-end smartphones, car displays and other mobile devices. In 2014, the company’s LED backlight revenue had significantly increased compared to last year. The company production is beginning to meet economics of scale and includes LEDs, light guide boards, backlight sources, modules. It has also established a basic backlight supply chain.

The company is also forming an IR LED supply chain and developing GaAs-based IR LED epiwafers and chips. The company is developing mid to high power IR components, package and applications. The company is vying military application markets where there is higher technology and gross margin, while gradually extending its product portfolio in LED components and modules.

The LED lighting market demand has soared following the global incandescent bulb phase out in 2014 to reduce carbon emissions, and China’s low carbon emission policies. This in turn has spurred the global LED supply chain developments, which has allowed the LED industry to maintain good developments. Rising market demands and intensifying competitions has spurred the company to develop traditional products, while expanding its product structure and integrating company resources.