The tide of LED integration in 2014 will continue1

In the 18th National Congress of the Communist Party of China, it encourages the development of the capital market, supports mergers and acquisitions, and the relevant support of the State Council. The mergers and acquisitions of emerging industries in 2014 will continue to be hot in 2013. Since the 18th National Congress of the Communist Party of China, economic transformation and upgrading has become a top priority, and emerging industries are undoubtedly urgent for transformation and upgrading. In particular, the listed small and medium-sized board and GEM companies have started the M & A boom based on the capital market, forming an unprecedented M & A peak. Last year, with the rapid increase in the demand for LED lighting, the LED industry also ushered in a peak period of development. Enterprises in all aspects of the upper, middle and lower reaches began to expand production and seize more market share through distribution channels. As one of the convenient and effective roads, mergers and acquisitions have been favored by LED listed companies. Since the second half of last year, almost all LED listed companies have undergone large and small mergers and acquisitions or various forms of strategic collaboration. Under the background that the whole LED industry is weak and strong, listed enterprises with advantages in products, technology and capital are accelerating their development and integration in order to develop rapidly in the LED lighting industry. when the concentration is improved, it has a first-mover advantage. Following last year's acquisition of NVC and Sanan Optoelectronics to acquire Taiwan's Yuanyuan Optoelectronics, this year, Tongfang's shares have been invested in zhenmingli for HK $0. 9 billion, and Jiawei's shares have been 1. Many LED industry mergers and acquisitions such as the lighting industry, which cost more than 2. 3 billion yuan, have taken place. The Battle for the entire industrial chain has become increasingly fierce, and the industry integration drama has gradually reached a climax. The support for mergers and acquisitions in government policies is also constantly improving. Today, the CSRC issued a refinancing method for listed companies on the gem. As for the refinancing of the growth enterprise market, which focuses on the combination of industry and capital market, the measures stipulate that the issuance conditions for the refinancing of the growth enterprise market include profits in the past two years. In the past two years, cash dividends have been implemented as required; There are 6 conditions for the asset-liability ratio to be higher than 45 at the end of the year. Most of the companies listed on the GEM are emerging industries like LED, which are in a period of rapid growth. If they cannot be refinanced for a long time, it is not conducive to the long-term development of enterprises. Some LED listed companies believe that the LED industry is now in an integration period, mergers and acquisitions need financial support, and the introduction of refinancing methods can be described as timely rain. The cost performance of LED lighting products has already had a strong advantage. The outbreak of the lighting market is certain. This year, it is mainly to test whether the performance of LED enterprises can meet market expectations. Zhou Yi, a researcher at Huatai Securities, believes that at present, there are very few LED enterprises with an output value of more than 1 billion yuan. How to become bigger and stronger quickly requires more mergers, acquisitions, restructuring and shares in the LED industry. Recently, the lighting products of the old lighting enterprises have been collected by Jiawei shares, which has attracted the attention of the entire LED industry. According to the announcement, Jiawei shares signed an equity transfer agreement with all shareholders of Zhongshan pinshang Lighting Co. , Ltd. , agreeing to transfer 100 equity of pinshang lighting in cash. The parties to the agreement to the estimated value of the lighting on the goods 1. 22. 5 billion yuan is the initial transfer consideration. The original lighting business of Jiawei Co. , Ltd. is mainly concentrated in overseas markets, and the domestic lighting market will be even greater in the future. As a lighting-based company, it will naturally not be willing to give up the domestic market. Commercial lighting and home lighting are key product lines of Jiawei in overseas markets; Entering the domestic market, these two aspects are still one of our main business areas. Looking for a suitable commercial brand, with relatively high brand management degree, good public praise and ready-made distributor Foundation in the domestic market. these factors and conditions are the premise of mergers and acquisitions we are looking for. The qualifications of the products are in line with the needs of the current development of Jiawei; Moreover, the two sides are highly consistent with the prospects and ideas for future development. Li Wei, president of Jiawei shares, said in an interview with the media. As an established lighting enterprise, pinshang lighting has good resources in channels, brands and other aspects, but in recent years, due to various reasons, the development of the enterprise has stagnated. Although the lighting on the product has increased the transformation of LED, it is still difficult to return to glory. At this point, seeking external force is a good choice. Jiawei and the marriage of the goods are also optimistic about the industry.