AR-201 Light amazes me again

:
Hi please answer this if anyone dare

The
Aluminium White LED Flashlight (AR-201)
From Golden Gadget, i got a couple more for $5
these are cheap but well made, with a japanese bulb inside
really impressive, but how the hell can anmy light with 3 little button type batteries last 12 hours and put out n early as much lightas (or nearly 50 percent) as my
CMG Reactor 2 AA , which lasts about 10 hours if lucky..
this thing puts a great beam, 100-150 feet and spots
but no understanding if it's 1 WAYT 1/2 watt or just a hell of an LED at almost no power drain, doesn't add up with buton cells
i tested it for 8 hours untill it drained down a bit
bright

its project a beam similar to the Inova X1 the side spill is very little to none.

feel very strong built when holding.