Silan Forecasts Net Profits Plummet 60% in 1H16

Chinese LED manufacturer Silan Microelectronics (Silan) announced Thursday the company’s preliminary financial results for first half of 2016 plunged more than 60% year-on-year to RMB 64.42 million (US $9.66 million), reported Sinai.

The LED EPI-wafer manufacturer stated that its production output declined, impacting its fixed costs the most, there is still loss incurred from operations.

Additionally, the company reported large investment income in 2015, following its investments in Youwang Electronic and selling its financial assets. The company did not acquire any investment income in 2016, causing steep decline in net profits this year. Moreover, the company investment income nosedived in the same period. The company’s other business operations returned to norm.

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