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China-based LED packaging service provider MLS has upward adjusted estimated net profit for January-September 2016 from CNY192-210 million (US$29.2-31.9 million) to CNY285-325 million which grows 14.15-30.58% on year, while fellow maker Foshan Nationstar Optoelectronics posted January-September revenues of CNY1.676 billion and net profit of CNY131 million, increasing 25.64% and 6.59%, respectively.
In addition, China-based LED epitaxial wafer and chip maker Sanan Optoelectronics has reported revenues of CNY1.707 billion and net profit of CNY529 million for the third quarter of 2016, respectively rising 6.70% and 3.98% on quarter. As a result, the company had January-September revenues of CNY4.486 billion and net profit of CNY1.496 billion increasing 24.55% and 3.39% respectively on year.
MLS has raised additional paid-in capital of CNY2.348 billion to expand production capacity and will expand annual SMD LED packaging capacity by 51 billion LED chips. Foshan Nationstar has also expanded LED packaging capacity by over 40%.
According to LED industry sources in China, China-based LED makers generated total production value of CNY212.7 billion in the first half of 2016 and the total production value for the whole year is estimated at CNY457.6 billion, growing 15.35% on year.
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