IPO restart LED companies only 3 will be

Bankruptcy, bankruptcy, boss on foot, such words appear in the LED industry news. 2013, Guangdong, a large number of LED companies closed down, Shenzhen is one hundred million yuan level LED companies collapsed. 2013 for LED companies, is a difficult year.

After the IPO restart in 2014, so that LED companies to see the light, can be linked to the capital through this effective path IPO, get huge financing. But at the same time, LED listed companies on suspicion of false IPO listed news also heard. IPO this road for LED companies seem more bumpy and tortuous. The face of the temptation of capital, more LED companies in the hope of IPO may choose three new board, mergers and acquisitions and other capital operation path.

Capital temptation

According to relevant statistics, as of February 21st, there are 20 LED companies successfully listed, occupy half of the gem, the proportion reached 42.22%.

2011, almost overnight, LED companies collectively landed capital markets. Lehman photoelectric, honglitronic, alto electronics, Chau Ming technology, Ruifeng photoelectric, photoelectric and KingSun these LED enterprises are successfully listed in 2011. But in 2012 continued this wave of LED companies listed boom, successful listing is allring technology, Riyadh, Jufei, rectangular lighting, Jiawei shares, HC semitek, South photoelectric.

"After we went public, we didn't have much scenery. The office is still in such a remote place, the day is not very good. LED a listed company secretaries told this reporter, said to raise a little money, performance is not the question of a lot of voices.

In the face of IPO temptation, these LED business or seek a shortcut around beyond the pale landing in the capital market. In fact, the 20 LED listed companies raised the total amount of money raised a total of $11 billion 700 million, the average single financing amount of $585 million. However, the total market capitalization of these 20 LED listed companies up to 118 billion 700 million yuan, which is the first to raise the total amount of funds of 10 times.

How to look at the phenomenon of listed companies sprint LED? LED industry is a high-end manufacturing industry looks, ordinary actual threshold is very low, many companies rely on "financial skills" and subsidies to create profits, and capital market integration, but is a new profit model, in order to cash. Shanghai, a private person in an interview with reporters, said.

For these listed LED companies, the funds are still in short supply. In an interview with reporters, said the industry, the current scale of LED listed companies is relatively large, to raise funds to start making up the short board lighting, industrial integration. LED industry is in a state of excess capacity, will face a major reshuffle.

However, LED company is still a hot chase capital, a Jinsha River investment in March 2009 set up a scale of 400 million yuan of LED fund industry, enterprises focus on investment in Jinsha River of Nanchang LED Industrial Park located in Nanchang City, to promote the development of the LED industry.

"LED's largest market lighting market has started, the industry has a lot of space in the future, but the LED industry concentration is low, the competition is very intense, there will certainly be a big reshuffle. Can be listed is the best, the acquisition will be the main way. Shenzhen, a PE who told reporters that the investment in the future of LED there is a lot of integration of M & a space. Currently, the PE people are investigating a LED project.

Above Shenzhen area PE people believe that mergers and acquisitions fast, the annual income is not necessarily low. IPO investment cycle is long, not necessarily on.

Where is the way out

SFC latest statistics show that as of February 13, 2014, the termination of the termination of the review of the enterprise, the Shanghai Stock Exchange IPO queuing enterprises to declare 173, the Shenzhen Stock Exchange IPO queuing enterprise reporting 285.

In February 13th, the basic information update Commission published the declaration of enterprises is as follows, 383 companies in the trial, 195 enterprises of the state for the implementation of feedback, 36 companies have been pre disclosure, only 9 companies have passed the trial. Thousands upon thousands of horses and soldiers single plank bridge, always a few happy tears. Qinhuangdao port, Poly Culture Group, Huizhou Merchants Bank and the new media, the 4 companies in the suspended state of review. Dongjia group, Yikang biology, biology, Pearl River Bridge LINKFAIR group these 4 companies but sad IPO this bridge has been terminated.

It is not optimistic that there are still hundreds of companies are still lined up in the market, then the LED industry will be listed in this industry will be difficult to increase the difficulty? In the first announcement will be over 83 enterprises, the LED would have passed only 3 enterprises, respectively Shenzhen city aibisen Au Optronics Co, Limited by Share Ltd, Guangdong Linsen Wright electrical Limited by Share Ltd. It is worth noting that there is a subtle difference is that only aibisen photoelectric sprint gem, and Wright were Linsen sprint small plates.

Compared with previous years, the distribution of industrial enterprises from the line, LED companies are not in a state of madness. Despite the experience of IPO lake, IPO has opened the door to LED companies, but the market outlook is still worrying, not so optimistic.

"LED enterprise has not listed two years ago so crazy, most of the companies in the rally, ready for the next year or the year after continued listing. In an interview with the industry on the number of listed companies LED sprint this year is pessimistic, not more than 5 a year, in front of the queue so long, the direction of reform is not clear. 2014 LED business as a whole is still good, some in the profitable stage.

"In the early stages of expansion, including loans, listing fees