On August 27, Dajin Oriental Lighting Holdings Co., Ltd. (515) announced its interim results for the six months ended June 30, 2013.
During the reporting period, Dajin Dongfang Lighting turned a profit, and the net profit attributable to shareholders of the listed company was approximately HK$1.71 million, compared with a loss of approximately HK$25.95 million in the same period last year. Basic earnings per share was approximately 0.39 HK cents, compared with a basic loss per share of 5.87 HK cents in the same period last year. The Board of Directors does not recommend the payment of an interim dividend as of June 30, 2013.
The report showed that the Group's gross profit decreased by 4.0% to approximately HK$44.3 million during the period, compared with HK$46.19 million in the same period last year. The gross profit margin increased from 10.6% in the same period last year to 12.7% in the period. The gross profit margin of LED lighting and PCB was 31.7% and 10.3% respectively. The increase in gross profit margin was mainly attributable to the increase in operational efficiency through the optimization of the operational progress and management structure of the PCB business.
During the period, the Group's turnover was approximately HK$348 million, a decrease of 20.0% compared with approximately HK$435 million in the same period last year. The weak global PCB demand has negatively affected the sales of the Group's double-sided PCB. However, during the period, the Group successfully improved the profit contribution of the business to the Group by optimizing the operation of the PCB business. The decline in LED lighting revenue was due to our rigorous risk assessment of potential LED lighting contracts. About 70% of the new and completed LED contracts have to be repaid within one year, which has a positive effect on the liquidity of the LED business.
During the reporting period, Dajin Dongfang Lighting turned a profit, and the net profit attributable to shareholders of the listed company was approximately HK$1.71 million, compared with a loss of approximately HK$25.95 million in the same period last year. Basic earnings per share was approximately 0.39 HK cents, compared with a basic loss per share of 5.87 HK cents in the same period last year. The Board of Directors does not recommend the payment of an interim dividend as of June 30, 2013.
The report showed that the Group's gross profit decreased by 4.0% to approximately HK$44.3 million during the period, compared with HK$46.19 million in the same period last year. The gross profit margin increased from 10.6% in the same period last year to 12.7% in the period. The gross profit margin of LED lighting and PCB was 31.7% and 10.3% respectively. The increase in gross profit margin was mainly attributable to the increase in operational efficiency through the optimization of the operational progress and management structure of the PCB business.
During the period, the Group's turnover was approximately HK$348 million, a decrease of 20.0% compared with approximately HK$435 million in the same period last year. The weak global PCB demand has negatively affected the sales of the Group's double-sided PCB. However, during the period, the Group successfully improved the profit contribution of the business to the Group by optimizing the operation of the PCB business. The decline in LED lighting revenue was due to our rigorous risk assessment of potential LED lighting contracts. About 70% of the new and completed LED contracts have to be repaid within one year, which has a positive effect on the liquidity of the LED business.
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