The company shares were quoted up 91% at
The company, which listed on AIM in
It said that due to the Chinese government's promotion of green energy, domestic public sector LED work orders grew significantly in street lights, tunnel lights and lighting projects. In addition, the development of urban and rural construction, especially in some mountainous provinces, led to a high demand for highway and street lighting.
Looking ahead Gowin said its expects continued growth in profits and revenues this year. It said at the end of the first quarter 2014, total sales, gross margins and net pretax profit grew year-on-year, fuelled particularly by local government contracts.
Despite its performance, the company said it will not pay a dividend.
"In line with the group's residual theory dividend policy, where dividends will only be paid after business opportunities are financed, the board is recommending no dividend payment for the year," Gowin said.
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