【 Brief 】 A Wholly-owned Subsidiary Of Hua Can Capital Increase, Sanxiong Aurora And Mingjiahui Release 2018 Performance Forecast

- Jan 11, 2019-

The wholly-owned subsidiary of hucan capital increase is 400 million yuan

Yesterday (10), the company announced that the company intends to use its own funds to the wholly-owned subsidiary of huachan photoelectric (zhejiang) co., LTD. (hereinafter referred to as the "zhejiang subsidiary") to increase the capital of 400 million yuan, after the increase of capital of zhejiang subsidiary registered capital of 1.35 billion yuan, the company holds its 100% equity.

Hua can said that the capital increase for the zhejiang subsidiary is based on its operational needs, which is conducive to enhancing its capital strength, further reducing its asset-liability ratio, meeting its operational and development needs, and meeting the company's long-term planning and development needs.

Sunhung aurora releases 2018 earnings preview

Yesterday (oct 10), sanxiong aurora announced the 2018 annual earnings forecast, 2018 annual profit is expected to be 166 million yuan - 192 million yuan, down 25 percent -35 percent year-on-year.

Sanxiong aurora said, the report period, the company to increase market development and marketing investment, sales revenue slightly increased year-on-year;

At the same time, marketing and related sales expenses also increased significantly, and the growth rate is higher than the growth rate of sales revenue.

In addition, due to intensified market competition and rising prices of some upstream raw materials, the gross margin of the company's products declined year on year.

Mingjiahui releases 2018 earnings forecast

Yesterday (oct 10), mingjiahui announced the 2018 annual earnings forecast, 2018 annual profit is expected to be 173 million yuan, up 78.51 percent year-on-year -96.36 percent.

Mingjiahui said that during the reporting period, the net profit attributable to the shareholders of the listed company increased significantly compared with the same period last year, and the main reasons for the substantial increase in performance were as follows :(1) the industry development situation of the company continued to be good, and the urban landscape lighting industry ushered in the "blowout" outbreak period;

(2) large-scale events in the city provide a catalyst for the sustainable development of landscape lighting. In 2018, the company won the bid for the lighting project in shenzhen, Qingdao and other regions.

(3) 2016 non-public stock issued completed in May 2018, in April 2018 to raise funds to the account, the company operating funds to guarantee, the company depends on the construction, design, production integration ability as well as many large and medium-sized engineering case to form brand influence to further expand, the company continued to enhance the core competition ability;

(4) performance growth brought by the company's acquisition of 55% equity of zhejiang yongqi lighting engineering co., LTD. (hereinafter referred to as "yongqi lighting") in 2018. The company merged the financial statements of yongqi lighting in May 2018.