Million yuan street order 20 billion market three optical truth

"Securities market weekly" six months after the survey found that nearly 5 times the market value in KingSun Optoelectronics (6000903.SH) since the backdoor listing has been not only more than half of the profits from the government subsidies, the LED lights, LED chip, gold and other metal scrap recycling business in three main problems of heavy, large customers are non affiliated association with Tianjin and Wuhu also allegedly inflated investment projects.

Sanan optoelectronics is mainly engaged in a full-color high brightness LED wafer, chip, compound solar battery, high concentrating photovoltaic products R & D, production and sales of the company, the headquarters is located in Xiamen industrial base, distributed in multiple areas of Xiamen, Tianjin, Wuhu, Huainan, Quanzhou etc..

Since 2010, Wuhu, Huainan, three optical from Quanzhou and Anxi and other places of the hands of the government, to obtain orders LED street a total of up to 2 billion 650 million yuan. In the contract, the company all stressed that the company design and production ", according to the" securities market weekly "reporter survey found that almost all lights are an optoelectronic XinDa purchased by photoelectric; price of nearly a million above the market price 3 times the price sold to the government. In addition, all of these sources of government orders, not through the government procurement bidding procedures, alleged violation of the People's Republic of China government procurement law enforcement regulations and other laws.

Not only that, there are also a large number of three optical non RPT, employees or managers to become shareholders of the customer.

Public information: in 2011 the company's main business sales revenue from the LED chip was 1 billion 20 million yuan, in the annual report in 2012, the breakdown of the data is not disclosed. However, the "stock market weekly" interview with nearly 20 domestic LED packaging and application investigation of mainstream companies, three optical chips used in the downstream, surprising results. Sanan optoelectronics as a LED chip enterprises, the majority of packaging company said in an interview with little purchasing its chips. So the company LED chip sold to whom?

"Securities market weekly" survey, in recent years, three optical LED chip business top three customers for related enterprises, and the company's announcement is called "relationship with the company" to "non related parties". In an optoelectronic top five customers, in addition to the local government procurement street Wuhu Construction Committee, the Huainan Urban Construction Committee and has just won the Quanzhou and Anxi investment, there is the highest frequency of three companies - Shenzhen An Puguang Photoelectric Technology Co. Ltd. (hereinafter referred to as "amp light"), Shenzhen tiandian photoelectric science and technology limited company (hereinafter referred to as "sferic photoelectric") and photoelectric XinDa. The three part of the company's shareholders living in Xiamen, most of them is an optoelectronic chairman Lin Xiucheng Anxi fellow, and there is a perplexing relationship Sanan optoelectronics.

In addition, scrap sales is the company's third main business, but also an important source of business. Company announcement: three optical materials, scrap sales gross margin up to 90%, and in recent years the rapid growth in revenue, earnings, increased from 5 million 940 thousand yuan in 2008 to 230 million yuan in 2012. 2012, the business contribution of up to 26.4% of the company's main business gross profit. This part of main business partner Kunming yinpeng Ltd., on January 2013 due to boiling water pollution problem has been shut down, Kunming Xishan District environmental protection departments after shutting down, still do not know how to deal with three optical.

If cautious investors observe the company's profits over the years -- often cut non "government subsidies" to cut "million street order" to "profit", cut to support by the related parties "chip business, finally cut off has been shut down" the material waste recycling business, profit and Optoelectronics how many?