The bankruptcy, bankruptcy, and bosses’ roads have appeared in the LED industry news many times. In 2013, a large number of LED companies in Guangdong closed down, and Shenzhen’s billion-dollar LED companies collapsed. 2013 is a difficult year for LED companies.
After the IPO restart in 2014, let LED companies see the bright future, and they can get a huge amount of financing through the effective path of IPO and capital. But at the same time, news about LED listed companies suspected of IPO fraudulent listings is not overwhelming. The IPO road seems to be more bumpy and tortuous for LED companies. Faced with the temptation of capital, more LED companies may choose the capital operation path of the New Third Board, mergers and acquisitions, etc. after the IPO is hopeless.
Capital temptation
According to statistics, as of February 21, 20 LED companies have successfully listed, occupying half of the GEM, with a proportion of 42.22%.
In 2011, almost overnight, LED companies collectively landed in the capital market. Lehman Optoelectronics (300162.SZ), Hongli Optoelectronics (300219.SZ), Alto Electronics (002587.SZ), Chau Ming Technology (300232.SZ), Ruifeng Optoelectronics (300241.SZ), Lianjian Optoelectronics (300269. SZ) and Qinshang Optoelectronics (002638.SZ) have successfully listed in 2011. In 2012, this wave of LED companies went on the market. The successful listings include Wanrun Technology (002654.SZ), Liard (300296.SZ), Jufei Optoelectronics (300303.SZ), and rectangular lighting (300301). .SZ), Weiwei (300317.SZ), Huacan Optoelectronics (9300323.SZ) and Nanda Optoelectronics (300346.SZ).
"After our listing, there is no such thing. The office is still in such a remote place, and the days are not very good." An LED listed company secretary-general said in an interview with this reporter that it raised some funds, the performance is not good, the voice of doubt a lot of.
Faced with the temptation of IPO, these LED companies are still taking shortcuts to find a way to land in the capital market. In fact, the total amount of funds raised by these 20 LED listed companies reached 11.7 billion yuan, and the average single financing amount was 585 million yuan. However, the total market value of these 20 LED listed companies is 111.8 billion yuan, which is 10 times the total amount of funds raised.
How to see the phenomenon of LED companies sprint listing? “The LED industry is a general manufacturing industry that looks high-end and has a low actual threshold. Many companies rely on “financial technology†and subsidies to create profits, which are combined with the capital market, but it is a new profit model, in order to cash out.†Shanghai A private equity person said in an interview with this reporter.
"For these LED companies that have already been listed, the funds are still in short supply." Gao Xiao LED CEO Zhang Xiaofei said in an interview with this reporter that the current LED listed companies are relatively large, and the funds raised have begun to make up for the short board of lighting. Industrial integration. The LED industry is in a state of overcapacity and will face a major reshuffle.
However, LED enterprises are still the hotspot of capital chasing. Jinshajiang Venture Capital also established a LED industry fund with a scale of 400 million yuan in March 2009, focusing on investing in enterprises located in Nanchang Jinshajiang LED Industrial Park to promote the LED industry in Nanchang. development of.
"LED's largest market lighting market has started, there is a lot of room for this industry in the future, but the concentration of LED industry is very low, the competition is very fierce, there will definitely be a big reshuffle. It is the best to be listed, the acquisition will be It is the main way.†A PE person from Shenzhen told this reporter that there is a lot of integrated M&A space for investing in LED in the future. Currently, the PE person is investigating an LED project.
The above-mentioned PE people in Shenzhen believe that the merger and acquisition is fast, and the annualized income is not necessarily low. The IPO investment cycle is long and may not be able to go up.
Where is the way out?
According to the latest statistics of the China Securities Regulatory Commission, as of February 13, 2014, except for enterprises that terminated the review, there were 173 IPOs in the Shanghai Stock Exchange, and 285 companies in the IPO of the Shenzhen Stock Exchange.
On February 13, the information on the basic information of the declared enterprises announced by the China Securities Regulatory Commission was as follows: 383 enterprises were in the preliminary review, and the status of 195 enterprises was implemented. 36 companies had pre-disclosed, and only 9 companies had Pass the trial. Thousands of troops have passed through the wooden bridge, and there are always a few happy families. The four companies, Qinhuangdao Port, Poly Culture Group, Huishang Bank and Xinli Media, are in a state of suspension of censorship. The four companies, Dongjia Group, Yikang Bio, Zhujiang Bridge Bio and Lingfeng Group, have been saddened by the IPO, which has been terminated.
It is not optimistic that there are still hundreds of companies still queued for listing, so will the difficulty of listing the LED industry, which is worrying about earnings, increase? Among the 83 pre-announced enterprises announced in the first batch, there were only three LED companies that had already passed, namely Shenzhen Ai Bisen Optoelectronics Co., Ltd., Mulinsen Co., Ltd., and Guangdong Jinlaite Electric Co., Ltd. It is worth noting that there is a subtle difference. Only Ai Biesn Optoelectronics sprints on the GEM. Both Mulinsen and King Wright are sprinting small and medium-sized boards.
Compared with previous years, from the industry distribution of queuing companies, LED companies are not in a state of madness. Despite the IPO barriers, the IPO door has been opened to LED companies, but the listing prospects are still worrying, not so optimistic.
"LED companies are not as crazy as they were in the previous two years. Most companies are regrouping and are ready to go public next year or next year." Zhang Xiaofei is pessimistic about the number of LED companies sprinting this year, no more than five in the whole year. It will take so long that the direction of reform is not clear. In 2014, LED companies as a whole are still improving, and some are in the profit stage.
"In the early stage of a certain degree of expansion, including loans, listing fees, etc., these LED companies will be more difficult to go public. Previously there was a problem of profit improvement. After the IPO was suspended, the pace of listing of the company was disrupted, and the new board could be launched." Zhang Xiaofei Explanation.
The LED industry insiders interviewed widely believe that the LED industry will usher in a big reshuffle in 2014. In fact, listing is not the only way to connect with capital. The listing of new three boards, mergers and acquisitions and other capital operation paths will also become a retreat for some LED companies.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
After the IPO restart in 2014, let LED companies see the bright future, and they can get a huge amount of financing through the effective path of IPO and capital. But at the same time, news about LED listed companies suspected of IPO fraudulent listings is not overwhelming. The IPO road seems to be more bumpy and tortuous for LED companies. Faced with the temptation of capital, more LED companies may choose the capital operation path of the New Third Board, mergers and acquisitions, etc. after the IPO is hopeless.
Capital temptation
According to statistics, as of February 21, 20 LED companies have successfully listed, occupying half of the GEM, with a proportion of 42.22%.
In 2011, almost overnight, LED companies collectively landed in the capital market. Lehman Optoelectronics (300162.SZ), Hongli Optoelectronics (300219.SZ), Alto Electronics (002587.SZ), Chau Ming Technology (300232.SZ), Ruifeng Optoelectronics (300241.SZ), Lianjian Optoelectronics (300269. SZ) and Qinshang Optoelectronics (002638.SZ) have successfully listed in 2011. In 2012, this wave of LED companies went on the market. The successful listings include Wanrun Technology (002654.SZ), Liard (300296.SZ), Jufei Optoelectronics (300303.SZ), and rectangular lighting (300301). .SZ), Weiwei (300317.SZ), Huacan Optoelectronics (9300323.SZ) and Nanda Optoelectronics (300346.SZ).
"After our listing, there is no such thing. The office is still in such a remote place, and the days are not very good." An LED listed company secretary-general said in an interview with this reporter that it raised some funds, the performance is not good, the voice of doubt a lot of.
Faced with the temptation of IPO, these LED companies are still taking shortcuts to find a way to land in the capital market. In fact, the total amount of funds raised by these 20 LED listed companies reached 11.7 billion yuan, and the average single financing amount was 585 million yuan. However, the total market value of these 20 LED listed companies is 111.8 billion yuan, which is 10 times the total amount of funds raised.
How to see the phenomenon of LED companies sprint listing? “The LED industry is a general manufacturing industry that looks high-end and has a low actual threshold. Many companies rely on “financial technology†and subsidies to create profits, which are combined with the capital market, but it is a new profit model, in order to cash out.†Shanghai A private equity person said in an interview with this reporter.
"For these LED companies that have already been listed, the funds are still in short supply." Gao Xiao LED CEO Zhang Xiaofei said in an interview with this reporter that the current LED listed companies are relatively large, and the funds raised have begun to make up for the short board of lighting. Industrial integration. The LED industry is in a state of overcapacity and will face a major reshuffle.
However, LED enterprises are still the hotspot of capital chasing. Jinshajiang Venture Capital also established a LED industry fund with a scale of 400 million yuan in March 2009, focusing on investing in enterprises located in Nanchang Jinshajiang LED Industrial Park to promote the LED industry in Nanchang. development of.
"LED's largest market lighting market has started, there is a lot of room for this industry in the future, but the concentration of LED industry is very low, the competition is very fierce, there will definitely be a big reshuffle. It is the best to be listed, the acquisition will be It is the main way.†A PE person from Shenzhen told this reporter that there is a lot of integrated M&A space for investing in LED in the future. Currently, the PE person is investigating an LED project.
The above-mentioned PE people in Shenzhen believe that the merger and acquisition is fast, and the annualized income is not necessarily low. The IPO investment cycle is long and may not be able to go up.
Where is the way out?
According to the latest statistics of the China Securities Regulatory Commission, as of February 13, 2014, except for enterprises that terminated the review, there were 173 IPOs in the Shanghai Stock Exchange, and 285 companies in the IPO of the Shenzhen Stock Exchange.
On February 13, the information on the basic information of the declared enterprises announced by the China Securities Regulatory Commission was as follows: 383 enterprises were in the preliminary review, and the status of 195 enterprises was implemented. 36 companies had pre-disclosed, and only 9 companies had Pass the trial. Thousands of troops have passed through the wooden bridge, and there are always a few happy families. The four companies, Qinhuangdao Port, Poly Culture Group, Huishang Bank and Xinli Media, are in a state of suspension of censorship. The four companies, Dongjia Group, Yikang Bio, Zhujiang Bridge Bio and Lingfeng Group, have been saddened by the IPO, which has been terminated.
It is not optimistic that there are still hundreds of companies still queued for listing, so will the difficulty of listing the LED industry, which is worrying about earnings, increase? Among the 83 pre-announced enterprises announced in the first batch, there were only three LED companies that had already passed, namely Shenzhen Ai Bisen Optoelectronics Co., Ltd., Mulinsen Co., Ltd., and Guangdong Jinlaite Electric Co., Ltd. It is worth noting that there is a subtle difference. Only Ai Biesn Optoelectronics sprints on the GEM. Both Mulinsen and King Wright are sprinting small and medium-sized boards.
Compared with previous years, from the industry distribution of queuing companies, LED companies are not in a state of madness. Despite the IPO barriers, the IPO door has been opened to LED companies, but the listing prospects are still worrying, not so optimistic.
"LED companies are not as crazy as they were in the previous two years. Most companies are regrouping and are ready to go public next year or next year." Zhang Xiaofei is pessimistic about the number of LED companies sprinting this year, no more than five in the whole year. It will take so long that the direction of reform is not clear. In 2014, LED companies as a whole are still improving, and some are in the profit stage.
"In the early stage of a certain degree of expansion, including loans, listing fees, etc., these LED companies will be more difficult to go public. Previously there was a problem of profit improvement. After the IPO was suspended, the pace of listing of the company was disrupted, and the new board could be launched." Zhang Xiaofei Explanation.
The LED industry insiders interviewed widely believe that the LED industry will usher in a big reshuffle in 2014. In fact, listing is not the only way to connect with capital. The listing of new three boards, mergers and acquisitions and other capital operation paths will also become a retreat for some LED companies.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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