OVC firms release quarterly reports

The automated workshop of Wuhan Raycus Fiber Laser Tech Co based in OVC. [Photo/WeChat account of Optics Valley of China]

Many companies based in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) recently announced their quarterly performance results. The valley's two major industries – the "optics, IC, displays, terminals and internet" cluster, and the life and health industry – maintained strong growth momentum.

YOFC achieved quarterly revenue of 2.98 billion yuan ($443.42 million) yuan and 204 million yuan in net profits, a year-on-year increase of 141 percent. The impressive performance is the result of the company's continuous efforts to consolidate its main businesses and make new breakthroughs in promoting globalized products.

On April 27, HGTECH reported net profits of 226 million yuan, up 98.73 percent on a yearly-basis, its best-ever quarterly performance, according to an official at the company, who also highlighted the role of the company's three core businesses – connection, sensing and smart manufacturing - in laying a solid foundation for annual sales growth.

Wuhan Raycus Fiber Laser Tech Co said that during the first three months of this year, orders have doubled. Humanwell Healthcare Group Co posted 20.44 billion yuan in total revenue last year and 5.16 billion yuan in the first quarter of 2022.

The output of TCL China Star Optoelectronics Technology Co over the period stood at 4.24 billion yuan. "TCL's investments since 2014 for three production lines in Wuhan have exceeded 75 billion yuan. Last year, the firm's sales revenue totaled 18.1 billion yuan," said a senior official of TCL.