Zhen Mingli lost nearly 500 million yuan in fiscal year 2012
Recently, Zhen Mingli announced its financial year results for the year ended March 31, 2013. During the announcement period, the revenue was 827 million Hong Kong dollars (about 654 million yuan), down 23.69% from the previous year; the after-tax loss was 617 million Hong Kong dollars (about 488 million yuan), and the loss per share was 65.7 Hong Kong cents (about 0.52 yuan). Among them, LED decorative lighting business lost 289 million Hong Kong dollars, LED general lighting loss of 145 million Hong Kong dollars.
According to the announcement, due to the weak global demand and fierce competition in the LED lighting industry, the LED lighting business's turnover and gross profit margin have both declined. It is expected that the financial year ending March 31, 2013 will result in a substantial loss of Ruth, making the company Significant impairment losses on property, plant and equipment.
Zhen Mingli said that the 2012 market has not yet fully opened. At present, the entire LED industry is in a crisis of structural excess. In recent years, the Group's business development in China and overseas markets and R&D R&D investment have been developed. Due to the worsening economic environment, the company decided to Non-performing assets are sorted out and provisioned, so the operation will still show a loss last year.
According to the announcement, due to the weak global demand and fierce competition in the LED lighting industry, the LED lighting business's turnover and gross profit margin have both declined. It is expected that the financial year ending March 31, 2013 will result in a substantial loss of Ruth, making the company Significant impairment losses on property, plant and equipment.
Zhen Mingli said that the 2012 market has not yet fully opened. At present, the entire LED industry is in a crisis of structural excess. In recent years, the Group's business development in China and overseas markets and R&D R&D investment have been developed. Due to the worsening economic environment, the company decided to Non-performing assets are sorted out and provisioned, so the operation will still show a loss last year.
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