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According to 2016 HGLASER semi-annual report, HGLASER has achieved revenues 30.43% higher than the previous year at RMB 1.644 billion, net profit attributable to parent company rose 31.87% to RMB 117 million, and EPS at RMB 0.13.

The overall revenue growth is as expected. After the re-election of board of directors, the company had new developments. HGLASER is next to Huazhong University of Science and Technology. Its industry sectors cover the scientific frontiers in the fields of intelligent manufacturing, optical communications, sensors, networking, military electronics and quantum communication. The greatest strength of HGLASER lies in the field of laser technology, including energy laser, laser security and laser communication, all of which are in the forefront of the domestic industry, and the downstream market is vast. In addition, the re-election of board of directors took place in June, 2014. The new board of directors’ strategic adjustment began to show its effectiveness, and the company is expected to enter a new growth period.

The high sales growth of laser and optical communication equipments greatly beat market expectations. Laser manufacturing sector achieved sales up at 71.08% to RMB 590 million, and gross margin rising from 3.46% to 29.41%, mainly due to the effect of international market expansion, great enhancement of sales of small and medium power products, and steady promotion of high-power intelligent equipment business. Optical communication sales rose 29.23% to RMB 614 million, compared to the same period last year, mainly results from the quick development of the industry and the new product volume of the company. It is believed that except the industry factors, the main reasons for these two core business segments to grow rapidly should be the approval on the company’s technical strength from the important downstream customers, which is expected to supports its development in the following years.