Refond 3Q13 Revenue Up

Shenzhen Refond Optoelectronics (Refond) recently reported large increases in LED sales led to revenue growth of 26.76% in 3Q13.

The Chinese company reported revenues reached RMB 207 Million (US$ 34.04 million) in 3Q13 compared to the same period in 2012. Net profit was up 17.88% to RMB 19.23 million. The company’s recognized revenue soared 47.64 percent to RMB 502 million, while net profit increased 25.42% compared to the same period in 2012.

Refond noted strong demands in commercial lighting and interior lighting was spurred by government LED lighting policies in 3Q13. Backlight LED light sources for mid-large sized LCD TV also benefited from popularization of LCD TV and increased sizes. Product gross profit has declined due to the company’s expanding R&D; soaring human resource, stock options and office costs; and intensifying industry competition. Net profit is growing at a rate much lower than sales revenue.

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