LED business performance is weak, Depp Technology's annual net loss expanded to 272 million yuan

Among them, LED segment turnover decreased by approximately 25.4% year-on-year to RMB 138 million. The decrease in turnover of the LED lighting segment was mainly attributable to the decrease in sales of LED lighting products and accessories. This was mainly attributable to the fierce competition between LED lighting manufacturers and the unfavorable market environment, which ultimately led to the price of LED lighting products and accessories. Depp Technology released its 2016 annual results, with a year-on-year increase of 5.9% to 233 million yuan (under the unit) Same); net loss increased by 41.4% year-on-year to 272 million yuan; loss per share was 4.14 points. Among them, LED segment turnover decreased by approximately 25.4% year-on-year to RMB 138 million. The decrease in turnover of the LED lighting segment was mainly attributable to the decrease in sales of LED lighting products and accessories. This is mainly due to the fierce competition between LED lighting manufacturers and the unfavorable market environment, which ultimately led to a decline in the price of LED lighting products and accessories. The decrease in turnover of the LED lighting segment was narrowed by the increase in service revenue from energy efficiency projects. With the completion of energy efficiency projects, service revenue increased by approximately 115.6% to 20.7 million yuan. The Group has started to provide maintenance services for one of its own projects, enabling the Group to maximize project revenue. All project contracts will last for 16 years and will contribute to stable income and cash flow for the Group. The group is still working with other cities to find the feasibility of energy efficiency projects. In addition, based on the sale and purchase agreement for the acquisition of FCSM on May 18, 2015, if the FCSM reached a cumulative condition in each of the financial years ending June 30, 2016 and June 30, 2017, the seller promised to pay the company. The total amount of up to 3 million euros (equivalent to about RMB 14.808 million). On June 30, 2016, all the accumulated conditions have been fulfilled and the seller has paid the company a contingent consideration of €1.5 million. Since FCSM is currently ranked 10th in the B-League, the FCSM is likely to be in Group B for the next 2017 to 2018 season. The company is confident that it will reach full accrued conditions for the year ended June 30, 2017 and is expected to receive a final contingent consideration of €1.5 million. The turnover of the professional football club segment accounted for approximately 40.9% of the Group's total turnover in 2016. Rebate revenue, match day ticket revenue, and sponsorship and advertising revenue increased by approximately 171.2% year-on-year to 91.4 million yuan due to full-year revenue in 2016 and 6-month income in 2015. As the performance and ranking of football clubs in 2016 improved compared to 2015, the income of football clubs in all categories increased.

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