Ganzhao Optoelectronics estimates that the net profit in the first three quarters of this year will decrease by about 30%.

Ganzhao Optoelectronics released the results forecast for the first three quarters of 2012. The company expects the net profit attributable to shareholders of listed companies in the first three quarters to be 98.421 million yuan – 85.287 million yuan, or 25%-35% lower than the previous year's 131.2287 million yuan.

According to the company, the decline in performance was due to the fact that the sales volume of LED chips in the first three quarters of 2012 increased by about 30% year-on-year. However, the sales price of chips in this period has a large decrease compared with the same period of last year. The gross profit margin of the chip has dropped significantly. Profits have also fallen.

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