Yuanfang Optoelectronics' net profit for the first three quarters increased by 13% over the same period of 60.39 million yuan.

Yuanfang Optoelectronics announced that the company's operating income in the third quarter of 2013 was 52.716 million yuan, an increase of 24.15% over the same period of the previous year; the net profit attributable to shareholders was 20,836,400 yuan, an increase of 27.22% over the same period of the previous year. In the first three quarters of 2013, the company achieved operating income of 133,234,300 yuan, down 2.01% from the same period of last year; net profit attributable to shareholders was 60,391,900 yuan, up 12.96% over the same period of last year.

Yuanfang Optoelectronics said that during the reporting period, the company actively promoted the “annual production of 1500 sets of LED photoelectric testing equipment expansion project”, “research and development center construction project”, “sales service network construction project” and other fundraising projects and the use of over-raised funds of 1.9 million yuan. Established the construction of projects such as the Taiwan office, and identified the “Investment in the establishment of a wholly-owned subsidiary in the Xiaoshan Economic and Technological Development Zone and the implementation of the R&D and production base for color and photoelectric testing equipment” and the establishment of a wholly-owned subsidiary project in the United States. The implementation of “establishing a wholly-owned subsidiary project in Hong Kong”, although the project has fully demonstrated the feasibility of the project in the early stage of the project, but as the industry, market and company gradually develop and change, the fundraising project may not be planned. There are certain risks associated with completing or failing to achieve the expected return.

According to Yuanfang Optoelectronics, the company will further analyze and research the fundraising projects under construction according to the actual situation at the current stage and the future development needs of the company, and fine-tune the construction content, schedule and targets of the fundraising projects under construction in a timely manner to better adapt. The future development trend will reduce the risk that the project will not play its due role.