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Huagong Genuine Optics Co.,Ltd(HGG)revenues grew by 29% YoY H1 2016 Especially high speed transceivers revenues grew by 160%

2016-10-24

(2016.8.12)Huagong Tech Co., Ltd (SZSE:000988)announced financial report of the first half of 2016 last night. Revenues grew by 30.43% YoY,Net profits grew by 31.87% YoY, the growth mainly came from optical module and laser processing.

Optical module business came from HGG.According to the report, optical module business revenues was 614 million RMB,grew by 29% YoY,thanks to the LTE in China. Partner with Nokia and Ericsson,international business reached about double grow than the same period last year.

In the first half of the year,transceivers for 10Gbps sales grew significantly,the pace of the import customer of new products speed up, market share was in the lead,high speed transceivers sales grew by 160% YoY, homemade BOSA has been mass production. In addition,optical components business achieved transformation,topographic application and communication gradually has been becoming new source of growth.