Honglitronic LED Lighting Market Gross Profit Declined YoY

LED lighting market gross margin index for LED manufacturer Honglitronic is more stable, but will experience slight decline year-on-year, as reported in the company’s Shenzhen Stock Market investor relations activities record.

The company’s net profit for the past three quarters reached RMB 36.5 million(US $6 million), 19.3 percent decrease year-on-year mainly due to fierce competition in the LED lighting market, continual drop in product prices, and other factors that lead to gross profit decline.

The company’s investor relations activities record contains investigations by Bejing Huaqing Huigu Investment Consulting, Zhongshan Securities, Hua Chuang Securities and other financial institutions released on December 26th.

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