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BOE technology return to profit in 2011

Apr. 16, 2012 (China Knowledge) – BOE Technology Group Co Ltd<000725><200725>, the largest liquid crystal display or LCD panel producer in China, announced its net profit attributed to shareholders reached RMB 561 million last year. However, it suffered a net loss of RMB 200 million in 2010.

In a statement filled with Shenzhen Stock Exchange, BOE technology saw its sales revenue for last year surged 58.8% year on year to RMB 12.74 billion, and earnings per share were RMB 0.04. No dividend was declared for last year.

At the first three quarter of last year, the LCD producer suffered a net loss of RMB 2.14 billion due to the lower price of LCD panel in the global market. While, in Oct 2011, the company sold RMB 3.72 billion worth of its Erdos BOE Energy Investment Co shares to Beijing Haohua energy resource Co and Beijing industrial developing investment management Co.

BOE Technology expects its net loss for the first quarter of 2012 would reach RMB 500 to RMB 600 million, source reported.

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