SVA Electron 2007 net profit soars 115%

SVA Electron Co Ltd<600602><900901>, China's largest producer of liquid crystal display (LCD) for computer monitors and televisions, said its net profit soared 114.7% from the previous year in 2007 due to the booming LCD TV panel market in the country.

Net income climbed to RMB 26.6 million, with every share winning RMB0.023, said the company in a filing with the Shanghai Stock Exchange yesterday. Sales jumped 53.47% year-on-year to RMB 1.683 billion. Turnover from sales of LCDs and modules advanced to RMB 401 million for the same period, up 20.31% over 2006, with the profit margin leaping 6.54 percentage points.

The company, a Shanghai-listed subsidiary of SVA Group, has been gearing up the construction of the multicolor light filter project, which is scheduled to put into production in the second half of this year, making it the country's first company to mass produce this product.

SVA Group is one of China's leading manufacturers of new photoelectron display products, as well as a provider of network and information services.