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united credit ratings raised ofilm’s credit rating to aa

recently, ofilm received the credit rating letter and the tracking report of rating issued by united credit ratings co., ltd, in which the company's long-term credit rating and the credit rating of "17 ofilm 01" bond were raised from "aa" to "aa ".

what does the long-term credit rating "aa "represent?

in general terms, the domestic bond market rating is a standardized business. the company's long-term credit rating including nine levels represented by aaa, aa, a, bbb, bb, b, ccc, cc and c. among them, except the aaa, ccc, cc and c level, each credit rating can be fine-tuning with" " "-" symbols to represent a slightly higher or lower level than the original one. the higher the rating stands for the higher anti-risk capability, stronger profitability, and the lower cost of debt financing. long-term bonds (including corporation bonds) credit rating symbols and definitions consistent with the company's long-term credit rating.

aa rank is only second to aaa, means the company’s the debt paying ability is strong, the investment risk is very small, and it is the object that the capital market chases and competes for. according to incomplete statistics, there are 841 domestic companies were identified as "aa ", mostly are the government financing platforms and state-owned enterprises. now, ofilm successfully get on the "aa " level list has significant meaning.

why does ofilm's credit rating can raise to a higher level?

the last time united credit rating co., ltd. rated ofilm is on september 5, 2016. why does the company's credit rating can raise to a higher level in 9 months? the tracking report of rating from united credit rating co., ltd explained the reasons.

in 2016, as a leading enterprise of domestic tp display industry, ofilm has strong advantages in the industry status, technical level, capacity scale, etc. through public issuances of shares, its capital strength has been further improved.

micro-camera module products and sensor products have a substantial increase in production capacity, which also drove a substantial growth in operating income;

the constant net inflow of cash in the company's operating activities strengthened its debt paying ability.

in the future, the company intends to vigorously develop the smart car business. with the continuous optimization of the company's product structure, its product capacity will continue to release;

with the integration of the acquisited enterprises and the continuous improvement of the technical level, the company is expected to strengthen its industry competitiveness, expand its income scale and improve the profitability.

there are 3 most important points among them

no.1, the company's business level is in the leading position of the industry.

no.2, the company has good operation capacity.

no.3, the company's business continues to expand and its competitiveness is enhancing constantly.

1, business ability

ofilm has experienced 15 years of development, business scope has been extended from touch screen to many other product categories such as mobile phone camera, fingerprint identification, film sensors, display screen and mobile phone cover etc. the company maintains the world's no.1 shipments position in the fields of tp, ccm, fpm and other etc.

according to the statistics of sunraise big date, in may of this year, the company's fingerprint module shipments ranked no.1, far ahead of no.2. among the domestic fingerprint module factories in 2016, the top five including ofilm, primax, truly, jiangsu kaier and qtechglobal. their market shares accounted for 76%, and the market is highly concentrated. the national fingerprint module industry basically formed a market structure with ofilm dominate in it.

as for the traditional competitive product - touch screen, a few days ago, the sq bg touch screen products successfully passed the customer's verification, started mass production and the official shipments.

in addition, in early april of this year, ofilm completed the stock equity delivery of the acquisition of sony southern china, and the business has been operating normally since the end of april. the acquisition enhanced the company’s technical processes in the field of camera module and optimized the customer structure, which is conducive to further improve the company's camera module manufacturing technology and management services.

2, operating conditions

in 2016, benefit by the pre-cultivated micro-camera and fingerprint identification products are gradually get into the harvest period, the company's main business income increased 44.76% over the previous year, reached 26.464 billion rmb. the net profit is 7.17 billion rmb, raised 49.85% over the previous year.

from january to march of 2017, the company's main business income is 6.16 billion rmb , raised 47.09% over the same period last year. the net profit (including minority interest income) is 191 million rmb.

3, smart car industry

on july 12th, secretary of the jiangsu provincial committee and director of the standing committee of the provincial people's congress, li qiang led his troops to the ofilm suzhou park for inspection. after view our car networking project, secretary li speak highly about ofilm’s develop orientation and technologies. he encouraged us insisting on independent research and development, meanwhile, seizing the opportunity to buy foreign high-end r&d institutions, and further develop into a bigger, stronger and better enterprise.

at present, the company has established a twin-engine development strategy of "photoelectric products plus smart car" to make the smart car industry to become a new engine of business growth. according to the first quarter performance report of this year, the smart car products accounted for 1.26% of operating income, which is ever-increasing.

in the future, the company intends to vigorously develop the smart car business. with the continuous improvement of the product structure c, its product capacity is releasing constantly. with the integration of the acquisited companies and the continuous improvement of the technical level, the company is expected to strengthen its industry competitiveness, expand its income scale and improve the profitability.

ofilm will continue to maintain and strengthen leading edge of the touch screen, camera module, fingerprint identification module and other business. meanwhile, the company will actively promote the smart car project and the coordinated development of business structure, impel enterprise upgrades with technological innovation and business model innovation, and ultimately become the leading enterprise of the high-tech platforms in mobile internet industry and intelligent automotive field.