(Yicai Global) Aug. 29 -- Chinese electronics maker Shenzhen Longood Intelligent Electric Co. [SHE:300543] posted operating income growth of 20 percent and net profit growth of 15 percent in the first half.

Shenzhen Longood said yesterday in its 2017 interim report that as it increased research and development spending and actively expanded its business to corner market share, it achieved operating income of USD72 million (CNY485 million) and net profit of USD6.05 million (CNY40.56 million).

The group continued to focus on the electronic intelligent controller business, while scaling its environmental protection business and energy saving modules in the first half.

With the rising penetration rate of intelligent controllers, enhanced product performance and added value, and the trend of division of labor in downstream industries, the market demand of intelligent controllers will go up steadily in the next few years, Shenzhen Longood said.

Shenzhen Longood is a high-tech firm mainly engaged in research and development, production and sale of electronic intelligent controller products. Its products are used in household appliances, power tools, and light-emitting diode and high-intensity discharge lamp lighting power supplies.