On November 25th, Qinshang Optoelectronics was finally listed on the Shenzhen Stock Exchange. According to the reporter's understanding, the initial public offering of shares increased by 46.835 million shares at an issue price of 24 yuan. Up to now, the number of LED concept stocks listed on the domestic and overseas markets has reached 43. The topic of LED corporate listing has once again become the focus of attention in the industry.
The LED policy continues to be positive. According to the National 12th Five-Year Plan for Technology Development, it is proposed that in 2015, LED accounted for more than 30% of the domestic general lighting market, with an output value of 500 billion yuan; five ministries and commissions decided to gradually ban the import and sale of incandescent lamp plans, which will be phased out in 2016. Incandescent lamp. The 12th Five-Year Plan for the development of energy-saving and environmental protection industries will soon be introduced; LED lighting terminal subsidies have already been put on the agenda. The industry generally believes that LED lighting will soon enter the fast lane of development.
On the 7th to 18th of December 2009, the Copenhagen World Climate Conference, which received much attention, was held in Copenhagen, the capital of Denmark. Negotiators from 192 countries convened a summit to discuss the follow-up plan for the expiration of the first-phase commitment of the Kyoto Protocol, namely, the global emission reduction agreement from 2012 to 2020. In early 2009, in order to promote the development of China's LED industry and reduce energy consumption, the Ministry of Science and Technology of China launched the “Ten City Million†semiconductor lighting application demonstration city plan. The plan covers 21 domestically developed cities including Beijing, Shanghai, Shenzhen, and Wuhan. 'Ten City Wanxie' will bring a huge market for China's LED industry, but will also promote the development of the LED industry from all levels. Driven by the national policy, there has been a domestic war for the high ground of the LED industry. At the same time, LED has become a green passport for corporate listing. In order to be able to fast forward, investment institutions have focused on the LED lighting industry.
LED companies need funds to promote their development
All companies that are related to LED and have a certain reputation in the industry have almost become prey for major investment institutions. Take Qinshang Optoelectronics as an example, there are more than 20 investment institutions settled in this spectacular scene. According to an LED executive from Zhejiang, sometimes his company received calls or e-mails from more than a dozen investment agencies within a day. Compared with the enthusiasm of investment institutions, all small and medium-sized LED companies are relatively low-key and pragmatic. Guo Huaguo, chairman of Zhongshan Citizen Optical Technology Co., Ltd., told reporters that SMEs need more foreign funds to accelerate development. This is an indisputable fact, but everyone should also see that many small and medium-sized LED companies are currently concentrated in the middle and lower reaches of the industrial chain. The technical content is not high, and the sales channels have not basically been built up. Everyone is fighting for prices, and the profits of the industry are getting slimmer. Without sufficient profit, the listing of companies is not so easy.
It is worth mentioning that many small and medium-sized LED companies still have many problems in their operations, such as taxes and labor services. According to the owner of a LED company in Zhongshan, the company’s total sales revenue has been more than 100 million yuan, but the actual scene reflected less than 50 million yuan. Once it is packaged and listed, it will be taxed. If it can be successfully listed, then Fortunately, if you are afraid that your tax will not be paid, your company may be in a very difficult position. This is one of the main reasons why many LED business owners are not in a hurry to go public.
LED companies how difficult road to market
On July 27th, Mulinsen Co., Ltd. has passed the audit of the appraisal committee, and it is worth noting that three months have passed and so far, Mulinsen has not yet obtained the listing approval. The difficulty of listing small and medium LED companies is evident.
According to the disclosure of Mulinsen's prospectus, the company’s operating income increased from 38539.09 million yuan in 2008 to 814.7763 million yuan in 2010, with a compound growth of 45.4%, and the net profit attributable to shareholders of the parent company increased from 17.0547 million yuan in 2008. The 10193.7 million yuan in 2010, the compound growth rate is as high as 144.48%. However, the dazzling profit growth capability cannot conceal the objective risk of the purchase of the main raw material chips from being too dependent on the two Taiwanese companies, although Mullinson vowed to “enhance the procurement of domestic chips and reduce the reliance on imported Taiwan chipsâ€. As well as the 'established cooperation relationship with domestic chip manufacturers for the procurement of chips', the objective result that investors can see is that the amount of raw materials that Mulinsen purchased from Jingyuan Optoelectronics and Guanglei Technology both accounted for the total amount of raw materials from 2008. From 4.97% to 14.61% in 2009, and to 20% in 2010, the dependence on raw materials clearly shows an increasing trend year by year. This undoubtedly became a hurdle for the public listing of Mulinsen.
Like Mu Linsen, QinShang Optoelectronics went awry on the market. With 12 gambling sessions with investment institutions, people had to look at the dedication and firmness of Li Xuliang, Chairman of the board of directors, at the same time, and made us really understand the hardships of its listing.
Although Timothy and Qinshang Optoelectronics are all over the thorns, they have at least succeeded. It is understood that at present, there are no less than 100 small and medium-sized LED companies that are queuing up for listing. Among these, how many have successfully obtained listing tickets? We are still not aware of this.
Small and medium-sized LED companies are not a dream
For most of the small and medium-sized LED companies, it is difficult to imagine how difficult it is to operate independently. Mulinsen bought shares of companies such as Greenman, Dibo, Willisen, Angoson, Saiwei Vision, and successfully met on July 27th. The listing of small and medium-sized LED companies has become almost a reality. As a result, the call for LED companies to go on the market was a wave higher than a wave.
Although some industry media and investment agencies hold great hopes for this, but after visiting many small and medium-sized LED companies, the author discovered that the design of small and medium-sized LED companies to go public is still difficult. On the one hand, most of the accounts of SMEs are unclear, and it is difficult to accurately estimate. After the reorganization, the distribution of the company's interests is extremely delicate and difficult to balance. On the other hand, the vast majority of SME owners are not willing to work again, but once they are successful. On the market, most of them are only one of the executives of listed companies. The control and control of enterprises are not in their hands. This is their most difficult reality to accept.
The LED policy continues to be positive. According to the National 12th Five-Year Plan for Technology Development, it is proposed that in 2015, LED accounted for more than 30% of the domestic general lighting market, with an output value of 500 billion yuan; five ministries and commissions decided to gradually ban the import and sale of incandescent lamp plans, which will be phased out in 2016. Incandescent lamp. The 12th Five-Year Plan for the development of energy-saving and environmental protection industries will soon be introduced; LED lighting terminal subsidies have already been put on the agenda. The industry generally believes that LED lighting will soon enter the fast lane of development.
On the 7th to 18th of December 2009, the Copenhagen World Climate Conference, which received much attention, was held in Copenhagen, the capital of Denmark. Negotiators from 192 countries convened a summit to discuss the follow-up plan for the expiration of the first-phase commitment of the Kyoto Protocol, namely, the global emission reduction agreement from 2012 to 2020. In early 2009, in order to promote the development of China's LED industry and reduce energy consumption, the Ministry of Science and Technology of China launched the “Ten City Million†semiconductor lighting application demonstration city plan. The plan covers 21 domestically developed cities including Beijing, Shanghai, Shenzhen, and Wuhan. 'Ten City Wanxie' will bring a huge market for China's LED industry, but will also promote the development of the LED industry from all levels. Driven by the national policy, there has been a domestic war for the high ground of the LED industry. At the same time, LED has become a green passport for corporate listing. In order to be able to fast forward, investment institutions have focused on the LED lighting industry.
LED companies need funds to promote their development
All companies that are related to LED and have a certain reputation in the industry have almost become prey for major investment institutions. Take Qinshang Optoelectronics as an example, there are more than 20 investment institutions settled in this spectacular scene. According to an LED executive from Zhejiang, sometimes his company received calls or e-mails from more than a dozen investment agencies within a day. Compared with the enthusiasm of investment institutions, all small and medium-sized LED companies are relatively low-key and pragmatic. Guo Huaguo, chairman of Zhongshan Citizen Optical Technology Co., Ltd., told reporters that SMEs need more foreign funds to accelerate development. This is an indisputable fact, but everyone should also see that many small and medium-sized LED companies are currently concentrated in the middle and lower reaches of the industrial chain. The technical content is not high, and the sales channels have not basically been built up. Everyone is fighting for prices, and the profits of the industry are getting slimmer. Without sufficient profit, the listing of companies is not so easy.
It is worth mentioning that many small and medium-sized LED companies still have many problems in their operations, such as taxes and labor services. According to the owner of a LED company in Zhongshan, the company’s total sales revenue has been more than 100 million yuan, but the actual scene reflected less than 50 million yuan. Once it is packaged and listed, it will be taxed. If it can be successfully listed, then Fortunately, if you are afraid that your tax will not be paid, your company may be in a very difficult position. This is one of the main reasons why many LED business owners are not in a hurry to go public.
LED companies how difficult road to market
On July 27th, Mulinsen Co., Ltd. has passed the audit of the appraisal committee, and it is worth noting that three months have passed and so far, Mulinsen has not yet obtained the listing approval. The difficulty of listing small and medium LED companies is evident.
According to the disclosure of Mulinsen's prospectus, the company’s operating income increased from 38539.09 million yuan in 2008 to 814.7763 million yuan in 2010, with a compound growth of 45.4%, and the net profit attributable to shareholders of the parent company increased from 17.0547 million yuan in 2008. The 10193.7 million yuan in 2010, the compound growth rate is as high as 144.48%. However, the dazzling profit growth capability cannot conceal the objective risk of the purchase of the main raw material chips from being too dependent on the two Taiwanese companies, although Mullinson vowed to “enhance the procurement of domestic chips and reduce the reliance on imported Taiwan chipsâ€. As well as the 'established cooperation relationship with domestic chip manufacturers for the procurement of chips', the objective result that investors can see is that the amount of raw materials that Mulinsen purchased from Jingyuan Optoelectronics and Guanglei Technology both accounted for the total amount of raw materials from 2008. From 4.97% to 14.61% in 2009, and to 20% in 2010, the dependence on raw materials clearly shows an increasing trend year by year. This undoubtedly became a hurdle for the public listing of Mulinsen.
Like Mu Linsen, QinShang Optoelectronics went awry on the market. With 12 gambling sessions with investment institutions, people had to look at the dedication and firmness of Li Xuliang, Chairman of the board of directors, at the same time, and made us really understand the hardships of its listing.
Although Timothy and Qinshang Optoelectronics are all over the thorns, they have at least succeeded. It is understood that at present, there are no less than 100 small and medium-sized LED companies that are queuing up for listing. Among these, how many have successfully obtained listing tickets? We are still not aware of this.
Small and medium-sized LED companies are not a dream
For most of the small and medium-sized LED companies, it is difficult to imagine how difficult it is to operate independently. Mulinsen bought shares of companies such as Greenman, Dibo, Willisen, Angoson, Saiwei Vision, and successfully met on July 27th. The listing of small and medium-sized LED companies has become almost a reality. As a result, the call for LED companies to go on the market was a wave higher than a wave.
Although some industry media and investment agencies hold great hopes for this, but after visiting many small and medium-sized LED companies, the author discovered that the design of small and medium-sized LED companies to go public is still difficult. On the one hand, most of the accounts of SMEs are unclear, and it is difficult to accurately estimate. After the reorganization, the distribution of the company's interests is extremely delicate and difficult to balance. On the other hand, the vast majority of SME owners are not willing to work again, but once they are successful. On the market, most of them are only one of the executives of listed companies. The control and control of enterprises are not in their hands. This is their most difficult reality to accept.
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