LED industrial environment not avoid blind expansion

February 9th, the Commission's latest disclosure of listed companies to display information, involving materials, chips, packaging, applications and other industrial chain 16 LED companies waiting for IPO. China's LED industry has thousands of companies, but a single enterprise annual sales of more than 1 billion yuan a few, most of them hovering around $100 million, while the main reason for the impact of large-scale enterprises is the lack of funds. After Lehman photoelectric, honglitronic other successful listing in the last year, this year allring technology again opened the LED industry financing tide gate. But experts pointed out that the current LED industry environment has shrunk, the relevant enterprises should not blindly IPO, need to consider the risk of industry.

16 intends to re IPO investment boom

In recent years, the development of LED industry Chinese is raging like a storm, let a person ", one of the biggest features too busy to attend to all" is the landing of the capital market enterprises to speed up the pace. "Swarming" has become the main theme throughout the year. In January 2011, Lehman photoelectric officially listed; in May, domestic LED packaging enterprises honglitronic successful landing on the Shenzhen gem; June, alto electronics and Chau Ming technology has successfully landed on the capital market; in July, REFOND joined the LED camp in October, listed companies; photoelectric also officially listed; in November, KingSun listed in the Shenzhen stock exchange.

According to the statistics released by the Institute of Engineering LED industry show that in 2011 China's LED industry output value of 154 billion yuan, an increase of 22%, production grew by more than 50%. The pace of development makes many enterprises "drool with envy".

This year, China's LED industry is still a continuation of last year's listing tide. Shenzhen Wan run the first landing of the capital market, in February 8th held the first public offering of shares in the ballot Yaohao ceremony, the release of the network under the success of the ballot number and placement results.

February 9th commission to disclose the latest disclosure of listed companies information display, involving LED companies have 16. Among them, the small board listed 6 companies, including wood Linsen, Shenzhen maoshuo power supply, Ningbo Hualong, Shenzhen Electronic Science and technology, click Guangdong jinlaite electric appliance, marine science and technology Wang Zhaoming. To be listed on the gem has 10, including a semiconductor, Riyadh, Jufei etc..

Obviously, the new listing tide has been formed, companies have been imminent, had hair". Xu Huai, Secretary General of the China Lighting society in an interview, said: in recent years, the LED industry investment is too fire, some of the supporting enterprises such as power control companies are seeking listing. From the list of listed companies to be listed, we can easily find that these enterprises are mostly small and medium enterprises.

One hundred million yuan enterprises mostly poor money is the main reason

Needless to say, the listing is a tool to break through the bottleneck of funds, leveraging the leverage of enterprise development. This is particularly important for Chinese LED companies. Orient Securities analyst Zhou Jun said in an Chinese "electronic newspaper" interview with reporters, the large number of China's LED industry, up to thousands, but the enterprise scale is small, the 2010 is not more than 1 billion yuan sales revenue of enterprises, 2011 is also one of the few, the annual sales income of 500 million yuan to 1 billion yuan is also one of the few, the annual sales income of more than 300 million yuan in the basic hovering around 100 million yuan.

For small and medium-sized LED companies, the listing brings the advantages of capital, brand advantage, corporate governance norms, the company bigger and stronger to provide a good foundation. Said Li Mantie, chairman and general manager of Shenzhen Lehman photoelectric Polytron Technologies Inc.

In addition to financing, listed companies are also conducive to building a comprehensive strength. It is understood that both the epitaxial chip, or heat, optics, materials, Chinese LED related small-scale enterprises, the lack of core technology, and professional LED enterprise in the channel and brand does not have the advantage, so the funds to raise the ability to enhance the company in research and development, management, brand promotion etc..

In addition, listed companies can also increase the ability to take risks. For example, in 2011 China has many LED companies collapse, there is weak, small scale, market competition, terminal market growth fell and other factors, which also lack is due to the expansion too fast, funding strand breaks collapse.

"Before LED related enterprises listed for confidence is weak, the first listed in 2010, nationstar changelight, especially at the beginning of 2011 Lehman photoelectric market success, bring great confidence and inspiration to later LED related enterprises listed, and enhance the enterprise market confidence, then there is more LED IPO preparing for the restructuring of enterprises. Therefore, to raise funds through IPO, is conducive to the rapid expansion of the scale of the enterprise, the majority of Chinese listed companies related to the LED are used for the purchase of new production lines and equipment. Zhou Jun said.

However, the listing is a double-edged sword. Zhou Jun added: listed to strengthen our understanding of the industry, to the enterprise, but also exposed many deficiencies, the reality is not like how to boast technology listed, leading to product quality than the international standards of the class. Therefore, with the increasing number of LED listed companies, people on the LED industry to deepen the understanding of the follow-up to LED related companies will be more stringent listing requirements. Li Mantie also believes that because of the listing, the company is more transparent information, social responsibility is also more important to accept various types of regulation will be more stringent.

Avoid low-level repeat expansion need to be cautious

As a result of investment overheating, as many as LED companies in china. In Foshan, for example, 5 years, the number of companies to do LED from the development of the current figure of more than and 300 to the number of two, 80%