LED industry needs to make good use of capital 'double-edged sword'

by:ALLTOP      2020-03-31
Raising funds, issuing stocks, venture capital companies, stock price turmoil, and additional issuance plans in the LED lighting industry, with more and more listed companies, the taste of capital has become more and more intense. If you don't see it, Op lighting, one of the three masters of traditional lighting, is also eager to embark on the journey of listing this year, which shows the charm of capital. Take Huacan Optoelectronics Co. , Ltd. as an example. Despite the poor market performance in the first half of this year, operating income fell by as much as 40. 42, and in the lighting listed companies in the first half of the year, revenue growth is on the verge of the bottom position. But in the capital market, it is still the true darling. It is reported that this company, which was established at the end of 2005 and listed in 2012, has attracted more than a dozen PE investment institutions to compete for shares in just six years. Since its establishment in 2005, Huacan Optoelectronics has accepted investment from 11 venture capital institutions including IDG, Zhejiang Huaxun, Jinshi investment, initial growth, Tianfu Huaneng, Guofu Yongqin and Jinzhi Huifu through PE. Among them, IDG has also set up two separate funds for participating in Huacan Optoelectronics: JingTianI and JingTianII. IDG has invested in Huacan optoelectronics for three rounds, amounting to more than 0. 1 billion yuan. According to analysis, Huacan Optoelectronics was established with a registered capital of 40 million yuan, and the first phase was only 2. 2 million yuan. According to Huacan Optoelectronics's total share capital of 0. 3 billion shares, 9. According to the calculation of 05 yuan, Huacan Optoelectronics currently has a market value of 2. 7 billion yuan. It is undeniable that at this stage, capital plays a very important role in the development of LED listed companies. Because of the rich capital, LED listed companies can have the ability to grasp more development opportunities, which also makes many small and medium-sized lighting companies envy and hate. For example, on the evening of September 10, Guoxing Optoelectronics disclosed the fixed increase plan, and the company proposed 6. The reserve price of 96 yuan/share will increase by no more than 90. 55 million shares, raising about 6. 0. 3 billion yuan will be used for Guoxing semiconductor epitaxial chip project (Phase II)And supplement the Company's liquidity. Industry veterans predict that this move will be of great benefit to the improvement of the future industrial chain and the improvement of comprehensive competitiveness of Guoxing Optoelectronics. Industry analysis shows that the abundant capital of listed companies will assist in all aspects of product research and development, manufacturing, marketing, channels, brands, promotion, services, talents, etc, especially in the key time window of LED development, the role of capital will become more and more prominent and important. 12 capital is actually a double-edged sword, capital is not omnipotent. As a listed company, while enjoying some conveniences and advantages in the process of capital operation, it also faces many troubles, such as where to find money, who to find money, how to use the money, how to report to the investors, and so on. At present, although the majority of investors are still very optimistic about the development prospects of LED and LED lighting, the wave of bankruptcy has also made capital more cautious when injecting. Nowadays, more and more listed companies are beginning to maintain a calm and rational attitude towards capital, and there are also a large number of investors and investors who are calm. Taking shilanwei as an example, in middle August, shilanwei sent a total of 97 institutions and individuals a 'subscription invitation', including 20 fund companies, 10 securities companies and 5 insurance companies. However, within the time limit stipulated in the invitation for subscription, shilanwei underwriters only received 10 valid quotations from Shengyu investment, Dacheng Fund, life insurance management and Shanghai Zendai investment. In the end, the issue price of shilanwei was determined to be 4. 80 yuan/share, the number of issues was reduced from the original 170 million shares to 91. 2 million shares. At the same time, the details of the use of capital by LED listed companies have become nowhere to hide under the spotlight of the media, and they need to accept some doubts at all times. And due to the turmoil in the stock market, investors are more concerned about the actions of the capital of the listed companies. Taking Dehao Runda as an example, it was recently exposed by the financial media that 'Dehao Runda's 51 million development expenditure is hard to turn the performance decline'. According to the Dehao Runda semi-annual report, Dehao Runda's development expenditure at the end of the first half of 2013 reached 1. 4. 9 billion yuan, an increase of 51 million yuan from the end of last year, accounting for of the total expenditure on research and development projects in this period. 57. It is reported that the amount of development expenditures since the listing of companies in the same industry has been very small. As a result, Dehao Runda was revealed that the company was suspected of over-capitalizing R & D expenditures to adjust performance, but it is still difficult to turn performance. Xiamen Cinda recently announced that the company intends to issue no more than 80 million shares in private, with a reserve price of 9. 72 yuan/share, raising no more than 0. 7 billion yuan to invest in Anxi LED packaging new project, Xiamen LED application product expansion project, RFID product design and production line expansion project. Although Xiamen Cinda is full of confidence, the market does not buy it. After the announcement, the company's share price continued to fall, and the intraday decline exceeded 6. It can be seen that for capital, lighting listed companies also need to be cautious and cautious.
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