Snow Wright restructuring prospects by the LED industry reshuffle welcome transformation

Considering the advantages of LED as a new generation of lighting products is better than that of incandescent lamps, fluorescent lamps and other traditional lighting sources, such as low power consumption, long service life, no pollution, fast reaction speed, high purity of color, with the promotion of city development and environmental protection, lighting, LED industry has been rapid development in recent years. According to statistics, in 2020 China's LED lighting actual demand reached 138 billion 600 million yuan.

Such a broad market space led to a large number of enterprises in the LED industry influx, resulting in overcapacity and low industry concentration and other second photovoltaic industry status quo, the trend of the industry reshuffle irreversible. Since 2014, many LED related listed companies in a merger or a major reorganization of the suspension period, including the acquisition of Jiawei shares on lighting, honglitronic acquisition smalite optoelectronics.

In this industry, "Metamorphosis" occupied the endogenous growth this year is mainly Wright, officially launched the extension merger development model, Fushun strategic restructuring of optoelectronics, the effective integration of resources which not only help Wright realize the market, brand, sales channels, technology research and development, will further consolidate its application in LED products the field strength of the overall competition. After the successful reorganization of snow Wright, net profit and earnings per share is expected to achieve multiple growth, open a new strategic pattern.

The first half of 2012, Fushun implementation of photoelectric 2013 and on 2014 revenues were 182 million yuan, 227 million yuan and 146 million yuan; net profit was 30 million 710 thousand yuan, 33 million 920 thousand yuan and 23 million 880 thousand yuan, the company's overall operating situation is very optimistic.

No doubt, the acquisition of Fushun optoelectronic will help the rapid growth of snow wright. In the first half of this year, for example, snow Wright, the first half of 2014 net profit attributable to shareholders of the parent company was 10 million 640 thousand yuan, if the successful acquisition of Fushun xuelaite photoelectric, the first half of this year the consolidated net profit will reach 33 million 740 thousand yuan, 3.17 times before the reorganization of listed companies net profit. Although the total share capital after the issuance of Wright will be increased from 184 million shares to 241 million shares, but due to increased net profit of listed companies restructuring to enhance the rate is much higher than equity, Wright's earnings per share will also be greatly improved, is expected from the original 0.06 yuan / share rose to 0.14 after the reorganization yuan / share, the growth rate of nearly 140%.

In addition, including Chen Jianshun, Fushun photoelectric 12 shareholders also made a commitment to Fushun photoelectric 2014-2016 performance: not less than 45 million 400 thousand yuan, 54 million 500 thousand yuan, 64 million 700 thousand yuan, three years and net profit of not less than 165 million yuan. Actual controller Chen Jianshun further commitment: Fushun photoelectric 2017 net profit of not less than 74 million 500 thousand yuan, if the net profit is lower than the value of the above commitments, the individual will be the difference between the part of the cash to make up.

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