LED companies get together and go public. Many IPOs encounter traffic jams2

The IPO has been delayed, and our planned investment projects will be ruined. A person in charge of a company that is planning a company's listing has complained to the Securities Times reporter. Today, the-share IPO barrier lake is huge, 830 companies to be listed are in a long queue, and LED companies with overcapacity are facing a dilemma. According to the Securities Times, the past few years have been good, the performance has been rising, the financial report looks beautiful, in line with high growth indicators, and the earnings per share are high, the stock can also sell a good price. Now 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. The CEO 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-saving projects, and 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, and the LED sector in the-share market has grown rapidly. However, in the past one or two years, due to the overheated investment in the early stage, the fierce homogenization competition, and the price war, the whole industry has entered the era of low profit. Most LED enterprises began to show 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 if the listed companies with relatively strong financial strength, the situation is not optimistic. According to the statistics of the high-tech LED Industry Research Institute, among the 25 key LED listed companies, the revenue in the third quarter of this year increased by 15, accounting for 60% of the total, down 10% from the first half of the 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 companies 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. The reporter recently participated in an LED industry conference, and more than half of the more than 300 LED companies attending the conference were joint-stock companies. An industry insider believes that according to the current situation, many LED companies will find it difficult to land in the-share market in the next few years. However, the impact of listing or not on the individual enterprise and the overall industry is not completely consistent, or even contradictory. On the one hand, under the circumstance of fierce competition of industry homogenization, only by continuously expanding its own capacity to form scale advantage can an enterprise 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 for expansion through listing, 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, the listing of LED companies is not a very good time. 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 Inspur 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 Optoelectronics, who is planning to go public, told the Securities Times reporter that the company's brand has influence in overseas markets, and the overseas business turnover is relatively high. The company plans to list in the mainland to expand the brand influence. seek a place in the domestic market.