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world's largest manufacturer of lighting products xin fly reported third-quarter results this year

Release time: 06 Jan,2023

Benefit from the European market demand increase, xin's flying performance is positive in the third quarter.

Recently, the world's largest manufacturer of lighting products xin fly reported third-quarter results this year. Company to achieve sales of 1.912 billion euros (RMB 13.8 billion), up 16.3%; Net profit of 112 million euros (RMB 810 million), an increase of nearly twenty percent.

Xin fly said, although the Chinese market weakness in the third quarter, but its growth, including the European market sales. In the third quarter, the company's sales of 546 million euros in Europe (RMB 3.94 billion), up 17.4% from a year earlier.

Affected by the conflict between Russia and Ukraine this year, the flow of Russian gas to Europe slashed, Europe's energy supplies. Since late August, Europe's natural gas price and electricity price record highs, driven LED lighting products such as demand rose.

Compared to incandescent lamp and other traditional lighting products, LED is more energy-saving and environmental protection. In the third quarter of this year, sales of LED proportion reached xin nuo fly 83% of revenue scale. In view of the current European energy prices soared, xin fly is expected, in the fourth quarter of energy-saving lighting solutions such as demand will continue strong.

Xin nuo fly global senior vice President and President of northeast Asia Wang Yun reporters recently to the interface, although affected by the epidemic factors, in the Chinese market this year, business is affected, but the stylistic fly remains bullish on the Chinese market.

China, he thinks, the comprehensive advantages of stronger, with complete industry chain and leading lighting technology has surpassed even abroad. At the same time, the LED lighting in China still has a large market demand.

Wang Yun, said in the past few years, despite the many domestic cities have LED lighting, but now there are still seventy percent of China's urban road use traditional street lamps.

According to its expected, China about 13% of the total power consumption of lighting, equivalent to about 6% of the country's energy consumption. If from a nationwide smart + connected the LED street lamp renovation, to save electricity as much as 9 billion yuan a year, is expected to reduce carbon dioxide emissions of 15 million tons.

In July, xin nuo fly has announced upgraded to multinational companies in Asia Pacific regional headquarters in Shanghai headquarters, improve management level and innovation. Wang Yun said the company production base in China in the future also will continue to expand overseas exports, to expand the overseas market share.