A domestic medium mistakenly reported that China’s LED light source component and lighting application company Mason Technology has cheated on gross profit and had bad financial results. The truth is that the report has falsely cited the financial data of Yantai Valiant Fine Chemicals (whose Chinese name is the same with that of Mason Technology) who has nothing to do with Mason Technology.

The wrong report says, “From the procurement data of raw material for the first half of 2010 released in the prospectus of Mason Technology (actually Yantai Valiant Fine Chemicals), the raw materials that are bought with over RMB 10mn are mainly tetrahydrofuran, phenol and methylbenzene, the money for the purchasing for the half year being RMB 13.5656m, RMB 12.4445m and RMB 10.8618m respectively.”

In fact, according to the financial report of Mason Technology, the main business of the company covers LED light source component, LED application lighting products and IR receiver. The raw materials are mainly LED chip and support, not tetrahydrofuran, phenol or methylbenzene mentioned in the wrong report.