Recently, Nanda Optoelectronics released its 2016 annual report. According to the annual report, in 2016, the company achieved operating income of 101 million yuan, down by -16.09% year-on-year; net profit attributable to shareholders of listed companies was 0.08 billion yuan, down -82.01% year-on-year.
As for the main reason for the decline in performance, Nanda Optoelectronics explained that the LED industry and the MO source segment industry are highly competitive in the market, and the inventory depreciation reserve and the loss of the operating profit of Quanjiao Nanda Optoelectronics. The average sales price of the company's main products decreased by approximately 34% compared with last year, resulting in a significant decline in sales revenue and gross profit.
The company is mainly engaged in the R&D, production and sales of high-purity metal organic compounds (ie MO sources) and is the world's leading producer of MO sources.
The demand for MO source market in the first half of last year is still growing, but the price competition caused by oversupply of products is still very fierce. At that time, the company's product sales increased by about 13% year-on-year, but the company's operating income decreased by 20.72% year-on-year due to the year-on-year decline in product sales price.
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