BYD Group’s lighting business saw considerable growth last year, despite the group’s reported revenue decline, according to a cnledw report.

The group reported revenues grew 10.25% Year-On-Year (YoY) to RMB 58.29 billion (US $9.31 billion), while its net profits dropped 20.82% to RMB 438 million.

Despite the revenue dip, BYD’s LED business revenue met 2014 targets of RMB 514 million, which was up 40.05% YoY compared to the same period in 2013, said BYD Marketing Director Xiao Zhiyong.

The Chinese automotive company established its optical business in 2003, and manufactured optical related products including camera lens, LED package products, and LED flash.

BYD later established its lighting brand in late 2010, and invested a total of RMB 1.5 billion in the LED industry. The company has vertically integrated its supply chain, epiwafers, LED package and other application products.

As the LED lighting industry entered a high growth phase in 2013, the company established a subsidiary in Guangdong province to provide a “one stop” EMC service station to support large scale energy efficiency renovation projects.

In the following year, the company released LED headlamp applications, and begun to focus on developing smart lighting solutions.

As for BYD’s LED business plans for 2015, the company aims to keep revenue targets above RMB 500 million in 2015, said Xiao. The company is still planning its new business strategies this year.