Sales boom LED to big profit gain
Print Edition
SAN’AN Optoelectronics Co, China’s biggest LED chip vendor, posted a 57 percent jump in net profit in the first six months year on year as its sales boomed, the Shanghai-listed firm said yesterday.
In the first half, San’an earned a net profit of 1.5 billion yuan (US$221 million). Its revenue surged 46 percent to 4.07 billion yuan from a year ago amid increasing sales and a full swing in production capacity.
The LED (light emitting diode) is a key component in several devices covering street lamps, automotive lights and advertising boards. LED also embraces environment friendly energy efficient features. LED component is also set to be used in smart devices like handsets and connected cars with the coming 5G and the Internet of Things era.
New energy lighting is expected to have strong market demand over the long term in China, said China Merchants Securities in a report, which rated San’an a “Buy.”
San’an has also invested in upstream semiconductor materials manufacturing, which will start production and generate income by the end of this year.
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