Tiantong Holdings LED sapphire substrate has not been mass-produced

Tiantong Holdings Co., Ltd. announced the first-quarter 2012 pre-loss announcement on April 14. According to preliminary estimates by the company's financial department, it is estimated that the company's net profit attributable to owners of the parent company in January-March 2012 will be reduced by 32 million. Yuan or so. The company's net profit attributable to owners of the parent company from January to March 2011 was 18.7 million yuan, and basic earnings per share was 0.032 yuan.

Tiantong Holdings said that the main reasons for the loss of Q1 are:
1. Magnetic materials: (1) Since the European debt crisis affected the global economic downturn in the second half of last year, the company's orders in the first quarter of this year have declined overall; (2) The company's industrial strategic shift, the new base capacity has not been released.
2. Solar photovoltaic industry: Due to the overcapacity of global photovoltaic production, the entire market is still in a downturn.
3, LED sapphire substrate material: has not been mass-produced.
4. The holding subsidiary Tiantong Jicheng Machine Technology Co., Ltd. was affected by the economic environment and the order failed to meet expectations. The performance decreased significantly compared with the same period of last year, which also had a great impact on the company's first-quarter performance.

Tiantong Holdings pointed out that this performance forecast has not been audited by certified public accountants. The performance forecast has been confirmed by the company's management. The specific data will be disclosed in detail in the first quarterly report of 2012.

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