Rectangular Group: 2017 net profit increased by 158% year-on-year

The Changfang Group announced its 2017 annual report on the evening of February 28. During the reporting period, the company achieved a total operating income of RMB 1,750,407,487.37, an increase of 9.22% over the previous year of 1,602,616,921.65 yuan; operating profit of RMB 118,660,239.78, compared with the previous year of -40,039,567.72 Changfang Group February On the evening of 28th, the 2017 annual report was released. During the reporting period, the company achieved a total operating income of RMB 1,750,407,487.37, an increase of 9.22% over the previous year of 1,602,616,921.65 yuan; operating profit of RMB 118,660,239.78, an increase of 396.36% over the previous year of -40,039,567.72 yuan; attributable to shareholders of listed companies Net profit was 36,238,438.46 yuan, an increase of 157.76% over the previous year -62,744,686.37 yuan. During the reporting period, as the price war came to an end, the LED industry's integrated reshuffle and upgrade accelerated, and many small-scale and inefficient LED companies were eliminated by the industry, and industry competition stabilized. In addition, the “13th Five-Year National Strategic Emerging Industry Development Plan” issued by the State Council proposes to upgrade the core basic hardware supply capacity, upgrade the key chip design level, and develop chips for new applications. In addition to the national level, the Guangdong Provincial Government has also issued the "Guangdong Province System to Promote the Annual Innovation Reform Test Action Plan", which is to position LED lighting as a new pillar industry. At the beginning of the relocation of the company's production line, the performance declined. During the reporting period, the company carried out refined management, optimized production line configuration, reduced cost, and all operations were on track, and the company turned losses into profit. During the reporting period, the company continued to strengthen its investment in LED lighting technology research and development center projects, and continued to strengthen research and development capabilities, and innovation to help business growth. The company insists on consolidating its competitive position in the packaging market. At the same time, it actively extends the industrial chain, accelerates resource integration, and strives to achieve rich business forms and optimization of upstream and downstream industrial chains. The company intends to purchase the minority shareholder of Kangmingsheng, a holding subsidiary, in cash, and continuously expand into new sub-areas. The two parties will jointly create a new era of off-grid lighting and continuously reduce the impact of lighting systems on the ecological environment. The Changfang Group also released its first quarter results for 2018. The company expects net profit attributable to shareholders of listed companies in the first quarter of 2018 to be 2.8 million yuan to 3.4 million yuan, an increase of 31.26% to 59.38% over the same period of the previous year of 2,133,200 yuan.

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