Sichuan Huiyuan Optical Communications (SZSE:000586) released audited financial results for 2007 on April 22 in the company's annual report.
According to the report, the company's 2007 revenue was RMB 501.31 million, down 29.99% year-over-year; net income dropped 3,643.20% to RMB 54,63 million, and EPS was RMB -0.279, decreasing of 2,890.00% compared with the same period of 2006.
Sichuan Huiyuan Optical Communications Co., Ltd. is primarily engaged in producing and selling optical fibers and cables. The Company is also involved in export and import business, the provision of communication equipment and system integration services, as well as optoelectronic components. The Company's optical fiber products include common optical cables, electrical optical cables and plastic optical fibers. During the year ended December 31, 2006, the Company obtained approximately 50% of its total revenue from optical fibers and cables and 36% from export and import business. The Company distributes its products in the domestic market and to overseas markets. In 2006, approximately 65% of the Company's total revenue was from the domestic market. As of December 31, 2006, the Company had six major subsidiaries. The Company is headquartered in Chengdu, Sichuan Province, China.
