2015 is still suffering IPO LED enterprise

According to statistics, in 2014 the global total of 1206 IPO, financing amounted to $256 billion 500 million, compared with 2013, an increase of 35% and 50%, respectively. In the global history of the largest IPO of Alibaba (IPO) ($25 billion), China listed companies driven by the global IPO market performance in 2014 is the best year since 2010. In 2014 a total of 252 IPO, financing amounted to $42 billion 200 million, compared with 2013, an increase of 95% and 89%, respectively. The total number of IPO cases in all the stock exchanges in the Greater China region accounted for 21% of the world, accounting for the world's total financing of $16%.

However, for the LED industry, many enterprises have not LED lighting a tear, a bitter history, 2014 LED industry of new ocean Abby and Wang Zhaoming is the most typical example, it is no wonder that aibisen chairman Ding Yan Hui in the cocktail party to complain "". When it comes to the IPO market, 2014 has been listed in the queue and audit of listed companies to LED is really mad, but was still in the next prick, look at the 2015 IPO tortured LED enterprise!

1, OPPLE lighting suffered questioned suffering"

In the period of traditional lighting, OPPLE lighting is a stand the test of the market a gilded signboard. However, the original from lighting enterprises have suffered in the listing after suffering from "query" and "suffering", several major financial media is exposed fall over each other repeatedly on the black list of OPPLE lighting products, product quality has been questioned.... all of this, people can not help but sigh "OPPLE, this is how? "A few questions about media content, although the myriads of changes, but eventually, it boils down there are two important reasons.

The quality of the products into the blacklist "stumbling block"

Incomplete statistics, in the past 3 years, OPPLE lighting at least 4 times in the relevant departments around the spot was traced to substandard products, the media called black list regulars". This is not difficult to understand, the big companies in the quality mark mashiqianti why? In fact, in the lighting industry, especially under the trend of LED lighting sweeping the world, in the terminal market, in the end of the distribution of any enterprise if you really want to pursue, are able to escape the quality problem. OPPLE has repeatedly been concerned, mainly because it is on the cusp of listing.

False sales data anomalies ferocious"

OPPLE lighting abnormal data ferocious, it is reported that the company in 2012 net profit of up to 187.92% of the substantial growth. In this regard, the company explained that in 2011 net profit is low, mainly due to the controlling shareholder of the company to implement the equity transfer of equity ownership of the management of the company and the formation of the management fee of 167 million yuan. 2011 base is low, resulting in a surge in net profit growth in 2012.

And on the channel, OPPLE lighting official show: at present, OPPLE has more than and 30 offices in the country, the domestic terminal sales channels of more than 30000 kinds of channels. In December 2012, the company has given the data is: 37 offices and all over the country's more than 5 thousand stores, sales outlets of the more than 10 thousand. A former OPPLE marketing official also said: with all the hardware store is likely to reach 30000, but some are fit, not strong and strong liquidity. "

In addition it is reported that OPPLE lighting in recent 3 years of steady growth in revenue, 2013 revenue of about 3 billion 390 million yuan, net profit of about 478 million yuan, an increase of 8.3% and 11.1% respectively; 2012 revenue of 3 billion 130 million yuan, an increase of 16.7%, while net profit rose 187.9%, compared to 2011 has a larger increase, the company explained that in 2011 the company shareholders equity transfer the formation of management costs.

May let you question these data, but OPPLE nearly three years of household lighting revenue accounted for the main business income ratio was 37.62%, 37.66% and 43.52%. OPPLE lighting in the electricity supplier to do particularly well, only in 2014, double eleven day turnover exceeded 94 million 500 thousand yuan, which may have proved that the data in the past is virtual or real.

2, listed on the road "hard state lighting"

According to the Commission released the latest "IPO audit work and the application situation of the enterprise, Hengdian group tospo lighting Limited by Share Ltd (hereinafter referred to as the" state lighting ") on the Shanghai Stock Exchange intends to apply for listing, currently in the already accepted state.

Significant related party transactions not disclosed

From the prospectus, the Dongyang subsidiary of state lighting state was established in July 9, 2008, is the state of lighting and PHILPS set up a joint venture, a total investment of 188 million yuan, registered capital of 143 million 200 thousand yuan, of which state lighting invested 107 million 400 thousand yuan, accounting for 75%, in the holding position, PHILPS invested 35 million 800 thousand yuan, accounting for more than 25%. As of June 30, 2014, the total assets of the state of Dongyang was 382 million 188 thousand yuan, net assets of $193 million 231 thousand and 800. Relevant data show that the Dongyang state during the reporting period for state lighting contributed a lot of achievements, which in 2013 achieved operating income of 582 million 438 thousand and 200 yuan, net profit of 24 million 160 thousand and 500 yuan; 2014 1~6 months, achieved operating income of 235 million 195 thousand and 900 yuan, net profit of 13 million 260 thousand and 600 yuan.

In Dongyang state at the beginning of the establishment of investment, the two sides agreed on the Dongyang state is the purpose and scope of the development and production of compact energy saving lamps and its components, to supply to the international market in Chinese and exclusive resale and distribution of PHILPS or its affiliates, and engage in other business activities for the purpose., including provide pre-sales and customer service service. From this point of view of the relationship, if the state lighting can be listed successfully, for PHILPS