Shiyida released the first quarterly report for 2015. During the reporting period, the company achieved operating income of 116 million yuan, a year-on-year increase of 15.26%; the net profit loss attributable to shareholders of listed companies was 176,600 yuan, an increase of 77.59%.
The reason for the change in performance was: During the reporting period, the company actively adjusted the EMS business structure and stopped the EMS order business of the subsidiary Wuxi Shiyida Electronics Co., Ltd., which had a poor profitability, resulting in an increase in management expenses due to the companyâ€™s asset impairment loss during the reporting period. In addition, although the LED lighting business has improved compared with the same period last year, the contribution to the performance is not obvious; the company's planned transformation of the Internet business is still in the investment period.
The company expects net profit of 100-228 million yuan in the first half of 2015 (June-June), down 11%-61% year-on-year.
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