Elec-Tech's Third Quarter Financial Report Indicates Decline in Stock Value

On October 29, 2013, Chinese LED manufacturer Elec-Tech reported a 27.15% increase in third-quarter revenue, reaching RMB 916 million (approximately US $150 million) compared to the previous year. However, the company experienced a significant decline in gross profit margin, dropping to RMB 50 million for the first three quarters, a 56.45% decrease year-over-year, primarily attributed to reduced government subsidies and rising financial expenses. Non-business income also fell sharply, from RMB 164 million in 2012 to RMB 88 million this year. Additionally, stock prices saw a steep decline, down 60% from the previous period. Despite these challenges, Elec-Tech’s production facilities have successfully shipped 92 MOCVD units, indicating continued investment in equipment expansion.

Elec-Tech’s Third Quarter Financial Report Indicates Decline in Stock Value

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