Dongshan Precision revised 2012 performance forecast for future growth

Dongshan Precision released the announcement of the 2012 annual performance forecast amendment. The announcement stated that due to the company's shareholding in the US SolFocus., Inc. has a large loss and future earnings. There is certain uncertainty. For the sake of prudence, the company should invest in it. The receivables were impaired, resulting in a decrease in the company's profit this year.

From the relevant data, Dongshan Precision has always been in the leading position in the field of precision sheet metal manufacturing. The company's main business income continues to be considerable. In 2011, its main business income reached 116,162,570 yuan, and the overall market situation was weak in 2012. Next, the income from the main business in the first half of the year remained stable at 67.704 million yuan. Compared with Guangdong Hongtu, which is also a metal structure manufacturing industry, it seems to be basically flat.

     Dongshan Precision's main business is the manufacture and service of precision sheet metal parts and precision castings. In April 2012, just two years after the listing, the company has thrown a fixed plan. It plans to issue no more than 62 million shares in a non-public offering of not less than 17.39 yuan/share, and raise the capital limit to 1.081 billion yuan. Expansion of four projects including LED devices and precision modules. After the implementation of the company's 2011 annual profit distribution and capital reserve fund transfer plan, the additional reserve price was adjusted to 8.65 yuan/share, and the issue amount was adjusted to not exceed 124.97 million shares.

From the perspective of investment projects, Dongshan Precision plans to use more than 500 million yuan to expand LED devices and precision module projects. According to the data, Dongshan Precision LED products are in the downstream part of the LED industry chain. The products mainly include LED devices, LED backlight modules, LED lighting and other products with application properties. Suzhou Dongkui Lighting Co., Ltd. was established in 2011 with a registered capital of 20 million yuan. It is a holding subsidiary of Dongshan Precision Co., Ltd., mainly engaged in the design, research and development, manufacturing and sales of LED lighting. The 2012 semi-annual report showed that the company had a loss of 4 million yuan.

In August 2010, Dongshan Precision signed a “Intent to Purchase SolFocus, Inc D Series Convertible Preferred Stock” with SolFocus., Inc. (hereinafter referred to as “Solfocus.,inc”) with a total investment of US$20 million. Purchase about 10% of the company's equity, the source of funds is the company's over-raised funds. According to the data, Solfocus., Inc. was registered in Delaware, USA in 2005, and is mainly engaged in the development and production of concentrating photovoltaic solar power generation equipment with tracking technology.

Based on the attention of Dongshan Precision, since Dongshan Precision was listed on the Shenzhen Stock Exchange on March 19, 2010, the companies that have invested and participated in the company have been involved in LED, intelligent transportation, photovoltaic, electrical, semiconductor equipment and software outsourcing industries. With the continuous investment adjustment and the gradual reflection of the company's industrial layout, Dongshan Precision Diversified Investment is gradually entering the harvest period. In addition to the SolFocus order, on April 11, 2012, Dongshan Precision signed a contract with Fujifilm Semiconductor Co., Ltd. under the Foxconn Group to sell precision semiconductor equipment structural parts to Fujimai. It is estimated that the sales in 2013 will be 186 million yuan, and in 2014 it will be 248 million yuan. On May 28, Dongshan Precision signed a supply agreement with Jucan Optoelectronics, and the contract planned by Jucan Optoelectronics from May 2012 to May 2013 The total amount of LED lighting fixtures for energy projects is about 200 million yuan; on June 14, Dongshan Precision received the letter of acceptance from Huawei's antenna project, with a total business volume of 61.13 million yuan...

According to industry insiders, from the perspective of the development of precision castings, the company has maintained steady development in recent years. In addition, the demand for precision castings in the future of automobiles, communication equipment, and electromechanical equipment is expanding. The expected growth value of Dongshan Precision Industry is full of expectations.

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