Conceal the production capacity and market price of the South photoelectric alleged fraud listed

Recently, the media disclosed the original South photoelectric Xu Xin shareholders set up a new company with his old club "warning message, South photoelectric on the matter has not been explained, but insiders broke the news, said the South photoelectric in order to complete the listing and financing, even in the prospectus to conceal the actual capacity, beautification of equity investment the prospects for the project, what is more is that the equity investment products in the market price has a huge market prospects decline, the turning point occurred, but the prospectus did not mention in the book.

South photoelectric disclosed in the prospectus, "to raise funds to invest in this high pure metal organic compounds (i.e. MO) industrialization projects, the project put into operation the new three methyl gallium production capacity of 22.5 tons, the main products of the project greatly alleviate the serious shortage of production capacity of three methyl gallium (annual production capacity of 5.5 tons). "

However, to understand the situation is, South light electric equity investment projects and two have achieved a three methyl gallium annual production capacity of 10 tons, according to the South photoelectric original plan, the three phase of the project can be put into operation in October 2011 originally, but because the market situation is bad, but because the project will be raised major capital investment, deliberately slow progress. Insiders revealed that the current three phase of the project has been completed the installation of the main workshop, the workshop is also waiting to be installed after the installation of the operation.

The above to the three phase of the project will increase the annual production capacity of 25 to 30 tons, far more than the South photoelectric prospectus raised in 2014 to reach the target of 22.5 tons raised investment projects. Thus, even if it is not listed fund-raising, the south of the current large amount of its own funds are basically enough, its intention to market worth pondering.

In addition, since the second half of 2011, the market is not good sales of gallium based three, the product sales price fell from 42 million yuan per ton to about $25 million, a decrease of nearly 60%. While the South photoelectric data given in the prospectus before 2011 three quarter prices, and real sales prices keep from talking about.

Although the layman is difficult to understand the actual price of three methyl gallium, but according to the engineering LED Industry Institute (GLII) data show that as of the end of November 2011, the new MOCVD is only 300, but less than 1/3 of real operation, the upstream raw materials MO source demand inhibited greatly.

Liu Gang, deputy general manager of the same shares had previously told the media, said: this year due to the lack of MOCVD operating rate, so the price of MO source will definitely drop slightly. "Vice president of photoelectric invenlux Shen Guang also said that 2012 MO source does not appear in short supply, prices will fall by about 10% at least.

The insider described, the price of the price is three yuan per gram of gallium methyl gallium 2.5-2.8 dollars, equivalent to the price of 1600-1800 yuan per ton excluding tax. While the South photoelectric in the prospectus made no mention of this, when raise investment projects put into operation, the market has turned to surplus, how to digest the huge production capacity, has been steadily declining market price? Investors more money will no doubt face "dashuipiao".

Nanjing is located in southern Jiangsu, the proposed 12 million 570 thousand shares, the total issued share capital of 50 million 270 thousand shares, to be listed on the Shenzhen Stock Exchange gem, mainly engaged in R & D, production and sales of new optoelectronic materials MO source.