China’s LED lighting company Everfine announced the revised first quarter financial results which states that its profit is expected to fall between RMB 7.73mn to RMB 13.53mn, a drop of 30%-60% from a year earlier.

As a result of the change in macro-economic environment and industrial development, the less-than-expected industrial recovery and the underestimate to the impact of long 2013 Lunar New Year holidays, the company further lowered the forecast of 2013 Q1 financial results.