Feile Audio's third quarter 2013 net profit increased by 89% year-on-year

Feile Audio released the third quarterly report of 2013. The company achieved operating income of 1.54 billion yuan in the first three quarters, up 10.39% from the previous year's 1.39 billion yuan; net profit attributable to shareholders of listed companies was 36.827 million yuan, compared with 74.847 million yuan in the previous year. The year-on-year decrease was 50.81%; the basic earnings per share was 0.05 yuan.

In the third quarter, the company achieved operating income of 526 million yuan, an increase of 3% over the same period of the previous year; net profit attributable to owners of the parent company was 17.874 million yuan, an increase of 89% over the same period of the previous year; basic earnings per share was 0.02 yuan.

Feile Audio said that on August 27, 2013, the 10th meeting of the 9th Board of Directors of the company reviewed and approved the “Proposal on the establishment of a subsidiary of Shanghai Yaming Lighting Co., Ltd., a wholly-owned subsidiary of the company in South Africa”. The Board of Directors agreed that Shanghai Yaming Lighting Co., Ltd., a wholly-owned subsidiary of the company, contributed US$1.275 million to jointly establish Inesa Lighting Co., Ltd. with South Africa APPLO and South Africa SVA in South Africa (provisional name, subject to South African registration and registration) . And authorized the general manager of the company to sign the relevant documents. The investment is still subject to the approval of relevant Chinese authorities, and has been registered and approved by South Africa for registration. Currently, relevant approval procedures are being processed.

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