China’s LED lighting company Jiawei announced its financial report for 2012, in which it claims that sales of products had experienced seasonal decrease. The company has achieved gross revenue of RMB 453mn in 2012, a decrease of 25.07% from the year before, and the net profit was RMB 8.1864mn, a year-on-year fall of 85.72%; and EPS was at RMB 0.06, a decline of 89.09% from a year earlier.

According to the prospectus of Jiawei, about 90% of its solar lawn lamp and solar garden lamp are exported to the North American market from spring to summer. Usually, customers place their orders two or three months in advance, so the company’s sales performance is subject to seasonal variations.