The IPO Lake LED great fear of misappropriating public bathing

IPO delays floodgates, our planned investment projects may be wasted. Scheming Companies is a matter of business executives to the Securities Times reporter complained. Today, A shares of IPO lake, 830 listed companies long queues, and excess capacity in the LED enterprises are facing a dilemma.

According to reports, a few years ago, good performance, high performance, earnings look beautiful, in line with the high growth of the index, and high earnings per share, the stock can also sell a good price. Now the industry is entering a period of adjustment, has been listed companies are difficult to guarantee the performance of growth, such as we do not have the financial advantage of the enterprise, not to mention the high growth. The LED business executives said.

In recent years, under the government's energy-saving emission reduction policies, the local governments have launched energy-saving projects, LED industry thus share a cup of soup. The country of large and small enterprises such as LED emerged like bamboo shoots after a spring rain, part of the strength of the enterprise is to visit the capital market, the rapid growth of A stock market LED plate.

However, in the past one or two years, due to the pre investment overheating, homogenization of fierce competition, price wars, the whole industry into the era of meager profit. The majority of LED companies began to decline in earnings momentum, and even some of the company also broke the chain of funds because of the boss on foot, business failures and other conditions.

Even more powerful financial strength of listed companies, the situation is not optimistic. According to statistics, 25 LED key listed companies, the first quarter of this year, revenue grew by 15, accounting for a total of $60%, down by $10.83% in the first half, net profit grew by only 10, accounting for the total number of 40%. The 25 listed companies, the performance decline is more serious than the upstream and downstream enterprises to display chip applications, the overall performance of midstream packaging companies also dropped slightly in the industrial chain, only LED lighting application of this link to achieve earnings growth.

Currently, the Commission is listed in the queue to disclose the stage of the LED enterprise is about 5, most of the downstream manufacturers LED. In addition, there are a number of strong enterprises to complete the restructuring, is in the counseling period. Reporters recently participated in a LED industry conference, the participants of the more than and 300 LED companies more than half of the joint-stock companies. An industry believes that, in accordance with the current situation, many LED companies in the next few years it is difficult landing A shares market.

However, the impact of listed companies or individuals on the industry as a whole is not entirely consistent, and even contradictory. On the one hand, in the homogenization of the industry competitive situation, only individual enterprises to expand its production scale advantages, can be in an invincible position, at this time through the listing of fund-raising expansion is the only proper course to take; on the other hand, the enterprises for the expansion through the listing prospectus, resulting in overall industry capacity expansion, further intensified competition.

From the current market situation, whether it is the capital market or the fundamentals of the company, LED listed companies are not a very good time. From the point of view of the project investment, and now the LED industry from the upstream chip to the packaging are oversupply, put aside is conducive to the healthy development of the industry. Zheng Tiemin, general manager of the Shandong wave Huaguang Limited by Share Ltd said that industry mergers and acquisitions may be lower cost alternative IPO development.

Of course, the enterprise to seek the listing is not entirely to money". For example, is planning a listing of the Yuan Hui photoelectric responsible person told the Securities Times reporter, the company's brand influence in overseas markets, overseas business accounted for a relatively high turnover, the company intends to expand the brand influence in the mainland market, the domestic market to seek a space for one person.