About 7000000 dashuipiao rectangular lighting power supply of IC project termination

China LED Reuters] All Pro Pro, may not have a good end". Rectangular lighting time-consuming LED lighting IC into the drive power supply project, and ultimately to about seven million yuan for naught.

A few years ago starting lighting driver IC rash and too much in haste, but now a paper announcement that the termination. The evening of May 25th rectangular lighting announcement that the board of directors approved "on the termination of the project raised funds over LED lighting IC driver power supply project and the remaining project funds add liquidity perpetual motion", plans to terminate the LED lighting power supply of IC project and the remaining funds will be permanently add liquidity. The project to raise the total funds promised investment of 25 million yuan, the actual use of funds raised over 7 million 468 thousand and 600 yuan, the remaining funds raised over 17 million 531 thousand and 400 yuan (the actual amount of liquidity of capital account to the actual total amount of interest.). In order to improve the efficiency of the use of funds raised to meet the company's liquidity needs, the company plans to use the remaining funds of 17 million 531 thousand and 400 yuan for the project to supplement the working capital.

Back in September 18, 2012, when the rectangular lighting board approved investment "on the use of raised funds of IC driver bill", the company agreed to use the raised funds invested 25 million yuan IC drive power project. While the original rectangular lighting why invest their own IC drive power is: for the completion of the project will further expand the company's existing production capacity, improve the industrial chain, saving power purchase cost, improve the company LED lighting products market competitiveness, improve the added value of products, and optimize the company in the field of LED lighting products line, expand the lighting market, improve the cost, enhance the company's profitability.

Ultra raised funds project LED lighting IC power supply project plan investment details (as of March 31, 2015, has invested 7 million 468 thousand and 600 yuan)

Ideal fullness. Rectangular lighting mentioned in the announcement, with the government's strong support for the LED lighting products, energy saving and environmental protection and green LED lighting products, LED lighting market development space is huge, the company gradually into the LED lighting market, and the core components of IC LED lighting power supply design assembly project is one of the core factors to enhance the company's LED lighting products the market competitiveness. The company began the development and design of LED lamps integrated IC power project in May 2011, in the beginning, the power supply costs accounted for 30% of the cost of the whole lamp power supply, high cost of procurement on the market at that time, the average cost of about 6 yuan / month to 8 yuan / month, integrated IC power project investment company, at that time the average cost of only about 1.5 yuan / month, compared with the purchasing power, it can save power cost 75%IC.

But the reality is very skinny. Now two and a half years ago, rectangular lighting did not receive the desired results. Rectangular lighting said, with the gradual popularization of the use of LED lighting products, industry technology upgrading speed, the technical level of IC power supply has undergone great changes, the cost has been reduced, and the cost of the power supply not much difference between us, and can be suitable for all LED lamps, to power the company's advantage is not obvious. At the same time, the IC power project investment funds mainly for the development of IC, and high power 1W power supply can not produce LED compatible, the power of our new production technology can not fully grasp in a short period of time, considering all the factors, continue to invest in new power technology doesn't save our cost, and improve the LED Lighting Company lighting product market competitiveness is not obvious, so the purchasing power supply of IC is more economic considerations. At the same time, LED industry development momentum in recent years, with the continuous expansion of production scale of the company, the company in the purchase of raw materials, market development, laying channels and brand promotion, the greater demand for liquidity and liquidity needs based on the rapid development of the company, the company has to banks and other institutions for financing, resulting in the company pays a higher financial costs, to a certain extent affected the company's operating efficiency. In view of this, the termination of the project raised funds over LED lighting IC driver power supply project and the remaining project funds for a permanent supplement working capital, the company can improve the efficient use of funds raised, and ease the pressure on liquidity, enhance business efficiency, realize the maximization of the interests of the company and shareholders.

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