Dongshan Precision released its 2012 annual report net profit dropped by 301%

Dongshan Precision released the 2012 annual report, the company's operating income was 1.816 billion yuan, an increase of 54.33% over the same period of the previous year; operating profit was -130 million yuan, down 39.927% over the previous year; net profit attributable to shareholders of listed companies was -110 million Yuan, down 301.45% over the same period of the previous year.

Dongshan Precision said that the main reasons for the sharp decline in the company's operating profit and net profit are: (1) the receivables of Powerwave Technologies, Inc. and its subsidiaries and the company's shareholding company SolFocus., Inc. Provision for bad debts of accounts was 29.087 million yuan;

(2) According to the net realizable value, the provision for depreciation of the inventory purchased by Powerwave Technologies, Inc. and its subsidiaries and the company's shareholding company, SolFocus., Inc., was RMB 21,151,500;

(3) Provision for impairment of long-term equity investments and recognition of large investment losses of 151 million yuan. Among them: due to the large loss of the US SolFocus., Inc. and the uncertainties in the future profitability, the company has accrued a long-term equity investment impairment reserve of RMB 75,936,332.35 after confirming the investment loss of RMB 16,227,284.80 for its long-term equity investment. .

Dongshan Precision said that during the reporting period, the company has expanded from a single manufacturer of precision metal structural parts to a precision precision manufacturing service for precision metal manufacturing related to passive devices and precision electronics manufacturing related to active electrical devices. At present, the company's various business developments are progressing in an orderly manner, further enhancing the company's core competitiveness in the field of precision manufacturing. During the reporting period, the bulk shipment of the company's LED backlight products drove the rapid growth of the company's sales revenue. In terms of LED lighting products, with the gradual release of the company's production capacity in the second half of 2012, the company's LED lighting has made certain progress in the development of contract energy management (EMC), engineering lighting and brand channel construction.

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