LED companies get together and go public. Many IPOs encounter traffic jams

by:ALLTOP      2019-12-26
If the IPO is delayed, our planned investment project will be ruined. A person in charge of an enterprise planning the listing of the company complained to the Securities Times reporter. Today, the-share IPO barrier lake is huge, 830 companies to be listed are in a long line, and LED companies mired in overcapacity are facing a dilemma. According to the Securities Times report, the past few years have been good, the performance has been rising, the financial report looks beautiful, in line with the high growth indicators, and the earnings per share is high, the stock can also sell a good price. At present, the industry is entering an adjustment period, and it is difficult for listed companies to guarantee performance growth, let alone high growth for companies like us that do not have financial advantages. This is what the boss of the LED company said. In recent years, with the promotion of the government's energy conservation and emission reduction policies, local governments have launched energy conservation projects one after another, thus the LED industry has gained a share. LED enterprises, large and small, have sprung up all over the country. Some powerful enterprises have taken advantage of the opportunity to land in the capital market. The LED sector in the-share market has grown rapidly. However, in the past year or two, due to the overheated investment in the early stage, fierce homogenization competition and price wars, the whole industry has entered an era of low profits. Most LED enterprises began to see a downward trend in profits, and even some companies ran away from their bosses and closed down due to the break of their capital chains. Even for listed companies with relatively strong financial strength, the situation is not optimistic. According to statistics from the Institute of High-tech LED industry, among the 25 key LED listed companies, 15 saw a year-on-year increase in revenue in the third quarter of this year, accounting for of the total, down from the first half of this year. 83; Net profit increased by only 10, accounting for 40% of the total. Among the above-mentioned 25 listed companies, the most serious decline in performance is for upstream chips and downstream display application companies, and the overall performance of midstream packaging companies has also declined slightly, only LED lighting application in the industrial chain can achieve profit growth. At present, the CSRC has disclosed that there are about 5 LED enterprises in the queuing stage, most of which are LED downstream application manufacturers. In addition, there are a number of strong enterprises that have completed the restructuring and are in the counseling period. Reporters recently participated in an LED industry conference, and more than half of the more than 300 LED enterprises attending the conference were joint-stock companies. An industry insider believes that according to the current situation, many LED enterprises will find it difficult to land in the-share market in the next few years. However, the impact of listing on individual enterprises and the industry as a whole is not completely consistent, even contradictory. On the one hand, under the circumstance of industry homogenization and fierce competition, only when the individual enterprise continuously expands its own production capacity to form a scale advantage can it be in an invincible position. At this time, it is the only way to expand production by raising funds through listing; On the other hand, enterprises raise funds through listing to expand production, which leads to the expansion of the overall production capacity of the industry and further intensifies competition. Judging from the current market situation, whether it is the capital market or the company's fundamentals, LED companies are not a very good time to go public. Judging from the investment situation of the project, the LED industry is now in oversupply from upstream chips to packaging, which is also conducive to the healthy development of the industry. Zheng Tiemin, general manager of Shandong Langchao Huaguang Co. , Ltd. , said that industry mergers and acquisitions may be a lower-cost alternative to IPO development. Of course, companies seeking listing status are not entirely for money. For example, the relevant person in charge of Yuanhui Optronics, who is planning to go public, told the Securities Times that the company's brand has influence in overseas markets and its overseas business turnover is relatively high. The company plans to go public in the mainland to expand its brand influence, seek a place in the domestic market.
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