LINYANG, a tycoon in smart meter business, has announced the investment of RMB 50 million to set up LINYANG OPTO for LED business on 14th December.
“We now have some preliminary agreements on Qidong new administration building lighting project, New Zone streetlight application and other municipal engineering near Qidong,” said Cen Rongrong. “If those orders could be accomplished, a revenue of RMB 50 million will be generated for LINYANG in the first quarter of 2013.”
The LED application market is relatively more accessible for the manufacturers. On top of that, emphasis should be put on the sustainability of business orders, said Zhang Hongbiao, director of GLII.
90% of LINYANG’s revenue comes from smart meters, including the data gathering. The revenue and net profit margin for the first three quarters of 2012 is RMB 1.304 bn and RMB 176 million, up by 23.48% and 102.30% respectively than last year’s equivalence.
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