LED triangle debt spread to the upstream the fire spread of fluorescent powder

"Now, even we do this upstream fluorescent materials are owed money. When it comes to LED industry triangular debt, Li Yi (a pseudonym) hated: talk about the business when you say very readily, the goods on the payment, but once the goods to the customer there, there are a bunch of reasons to stall. "

Li Yi is a general manager of LED phosphor materials company, a few years ago, the rapid development of the industry has brought huge profits to the company, the company in recent years is still planning the listing matters. But recently, the industry of triangular debts continue to spread, Li Yi's company is already extremely urgent.

"Equipment factory and lamps factory accustomed to longer terms, but we are in the habit of money before the material factory in a short period of time, we buy rare earth materials is basically use the cash to buy, if the downstream owed money, we can not timely recovery of cash, cash flow is difficult to continue. "Li Yi told the Securities Times reporter, the phosphor material producers affected by the price of rare earth, and most of the cash transaction, if the downstream manufacturers credit is serious, no interest is equal to the enterprise customer support working capital, but also bear the risk of rare earth prices. For the weak financial strength of SMEs, especially prone to strand breaks.

Triangular debt problem is a cancer of the industry. A LED industry executives said that customers are in arrears with payment application manufacturers, manufacturers in the application of packaging goods, packaging manufacturers to default on the upstream chip and auxiliary material factory for normal industry chain has become a risky debt chain.

In fact, the risk of this debt chain has been exposed. By the end of 2011, Shenzhen junduoli Southern China region represented by a group of LED display enterprises went bankrupt one after another because of funding strand breaks. In November this year, hibo photoelectricity closed after the incident exposed, about 20000000 payment default supplier surfaced, Southern China, East China, many listed companies have temporarily unable to recover loans.

At present, the company involved in the LED industry chain has innumerable, debt spread. Only from the information disclosure of listed companies, as of the three quarter of this year, with LED as the 21 listed company accounts receivable balances a total of up to 5 billion 519 million yuan, accounts receivable balance reached 3 billion 483 million yuan, the company's total accounts receivable has accounted for 89.13% of total revenue in the first three quarters.

LED chip leader Sanan optoelectronics as an example, the company accounts receivable from the beginning of 352 million yuan soared to 707 million yuan at the end of the three quarter, an increase of 100.92%, an increase of 591.39% over the year also notes receivable. The company explained that a substantial increase in bills receivable is mainly due to the sale of bills to settle accounts.

It is understood that the current domestic LED chip companies account period is generally five or six months, accounts receivable and revenue was close to 1:1, but some part of the listed companies accounts receivable do commercial bills, so to see from the earnings accounts receivable amount is lower.

The company knows the credit funds of the poor, psychological well aware of supplier delivery. Many downstream manufacturers have no cash payments to suppliers. Suppliers also have no way, do not continue to supply means inventory backlog and Book loss. A domestic chip companies responsible person reluctantly said.

Insiders pointed out that the current LED enterprises are facing shortage of funds, mainly for the payment difficulties, from raw materials to intermediate products to end consumer products, any one link in the chain appear a little delay, will have an impact. Once the capital chain tension of some small and medium-sized enterprises, under the payment due to upstream suppliers or reminders, likely usurious loans increased, pawning property, business owners run away even chain collapse phenomenon.