On June 19, Fangda Group issued a semi-annual report that the net profit attributable to shareholders of listed companies was 9.2 million yuan to 23 million yuan, a decrease of 50%-80% over the same period of the previous year.
In addition, Shenyang Fangda, a holding subsidiary of Fangda Group holding 64.576% of its shares, has been in a fierce market due to the falling prices of LED products. The development and production of LED epitaxial wafers and chips require a large amount of capital investment. Insufficient capital investment led to the small scale of Shenyang Fangda’s industry and its management has not improved. Fangda Group decided to stop the operation of Shenyang Fangda and authorized the company's management team to dispose of the equity of Shenyang Fangda held by the company and the assets of Shenyang Fangda.
In addition, Shenyang Fangda, a holding subsidiary of Fangda Group holding 64.576% of its shares, has been in a fierce market due to the falling prices of LED products. The development and production of LED epitaxial wafers and chips require a large amount of capital investment. Insufficient capital investment led to the small scale of Shenyang Fangda’s industry and its management has not improved. Fangda Group decided to stop the operation of Shenyang Fangda and authorized the company's management team to dispose of the equity of Shenyang Fangda held by the company and the assets of Shenyang Fangda.
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