A Chinese government drive to use environmentally friendly street lamps helped Chinese LED lighting maker Gowin New Energy to brighten up annual profits.

Gowin, based in Guangdong province, said Beijing's green energy policies and urban and rural development schemes boosted domestic public sector orders for LED street lights, tunnel lights and lighting projects last year.

The company, which listed on AIM last November, said differing product acceptance standards between traditional lighting and LED lighting had caused some forward disruption, but strong co-operation between government and lighting makers should help overcome challenges.

Group revenues in the year to December 31st rose 125% to about £15.2m, with post-tax profits rising to £1.8m from £377,912 a year ago.

Gowin said revenue and profit should increase in 2014 and the first few months of the year had been encouraging.

"We have confidence in a future of sustainable profit improvement in 2014 and beyond," the group said in a statement.


Amur Minerals reported progress on a nickel copper sulphide project in the Russian Far East, but said there would be no drilling this year unless it secures a mining licence.

The group said drilling had found a fifth deposit that would substantially increase resources at its Kun-Marie scheme.

It had also updated resource estimates at four other deposits yielding a substantial increase in mineralised tonnage and containing nickel and copper which could substantially improve the economic potential of the project.

Amur said key tasks going forward include the award of the mining licence for the project, which will cost about $751,000, and an update on the 2007 pre-feasibility study.

But it said it had no plans for drilling this season unless the mining licence is awarded and the weather is good.

"This decision to not drill at this time has been undertaken as the current resource inventory is substantial and capable of sustaining the planned operation," it said.

It added that a technical and economic study of the scheme was ongoing, but costs had risen as a result.

"These higher costs are being utilised to update an internally compiled document for the company," Amur said. "A comprehensive redesign of potential operation is underway and nearing completion. We look forward to releasing the new design, results and plans for advancing Kun-Manie."

The company remained debt free throughout 2013 with cash reserves of about $2.4m at December 31st 2013.

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