Crystal Optoelectronics released 2014 Q1 performance report net profit increased by 34%

Crystal Optoelectronics released its first quarter 2014 results report, achieving operating income of 169 million yuan, an increase of 37.61% over the previous year's 123 million yuan; net profit attributable to shareholders of listed companies was 31.158 million yuan, compared with 23.202 million yuan in the previous year. The growth was 34.14%; the basic earnings per share was 0.08 yuan, down 11.11% from the previous year's 0.09 yuan.

According to Crystal Optoelectronics, operating income increased by 46.293 million yuan compared with the same period of the previous year, an increase of 37.61%, mainly due to the increase in sales of related components and LED sapphire substrates for smart phones.

Crystal Optoelectronics pointed out that in October 2013, the company began planning to acquire the 100% equity of Zhejiang Fangyuan Night Vision Reflective Materials Co., Ltd. in cash and issue A shares. The relevant proposal was approved by the third board of directors of the company. It was reviewed and approved at the 10th meeting and the first extraordinary shareholders meeting in 2014. At present, the cash issue of shares to purchase assets and raise matching funds has been approved by the China Securities Regulatory Commission Supervision Committee, and was officially approved by the China Securities Regulatory Commission on April 23, 2014. As of the disclosure date of this report, the merger and acquisition is still in progress.

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