[High-tech LED reporter report] On January 31, Ruifeng Optoelectronics released the 2011 annual results forecast. The company expects that the net profit attributable to shareholders of listed companies from January 1, 2011 to December 31, 2011 will be profit of RMB 28,955,500 - 37,734,100, a decrease of 15% - 35% over the same period of the previous year.
Regarding the reasons for the change in performance, the announcement indicated that the LED industry investment grew in a large scale in 2011, and the growth of the terminal application market was far less than expected due to the international financial situation, resulting in an imbalance between supply and demand. In addition, the market competition is fierce, and the gross profit of product sales declines. At the same time, in order to improve competitiveness, the company continues to increase R&D investment and lead to an increase in management expenses. The above reasons have led to a decline in the company's current performance.
Regarding the reasons for the change in performance, the announcement indicated that the LED industry investment grew in a large scale in 2011, and the growth of the terminal application market was far less than expected due to the international financial situation, resulting in an imbalance between supply and demand. In addition, the market competition is fierce, and the gross profit of product sales declines. At the same time, in order to improve competitiveness, the company continues to increase R&D investment and lead to an increase in management expenses. The above reasons have led to a decline in the company's current performance.
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