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Ultra cold inquiry Jiawei solar lighting market in the road

The raised liquidity shortage, the self? Jiawei solar lighting announced in April 20th the "prospectus", the company the first fund-raising plans to invest an annual output of 40 million sets of solar lawn lamp, solar garden lights, photovoltaic power semiconductor lighting system of industrial projects and photovoltaic lighting R & D center projects, the remaining proceeds will be used for the other associated with the main business of operating funds. And in its disclosure of the prospectus, the amount raised.

In May 11th, the LED industry has a company called "Jiawei solar lighting company" companies to join the ranks of listed companies, which brings a breath of fresh air for the first half of tepid, increasing the stabilization of the LED market. But hidden behind the Jiawei stock issue has attracted the attention of digital.

And in its disclosure of the prospectus, raise the amount of money on the program supplementary operating funds from the list of funds raised in the project but no trace.

In May 11th, Jiawei shares announcement lists Yankon, KingSun, honglitronic, Lehman photoelectric country and the stars can compare 5 listed companies main business similar. These companies in 2011 the average price earnings ratio of 37.4 times (the lowest honglitronic 28.

27 times, the highest is 55.08 times that of Lehman photoelectric), and in accordance with the Jiawei shares 11 yuan / share issue price, issue price earnings ratio of 27.5 times, significantly lower than the similar LED lighting has been listed on the company.

However, for the issue of the amount of shares has long been identified as not more than 35 million shares of Jiawei shares, the price also means to raise the amount can not meet the demand. Because, in the issuance of 35 million shares estimated, Jiawei shares starting to raise funds will be 385 million yuan, did not reach the actual demand of fund of 430 million yuan, the insufficient part will be resolved by the company by way of self.

LED companies in the beginning of the listing, the issue is a super universal phenomenon. Take KingSun, the actual net proceeds of 1 billion 56 million 815 thousand and 400 yuan of funds raised over 593 million 382 thousand and 100 yuan, the ground on the raised part used to temporarily add liquidity (part of the repayment of bank loans).

But Lehman photoelectric at the beginning of the issue, also raised 500 million yuan in cash, up 131.5 times the earnings release margin of He Jiawei photovoltaic lighting will snub? Some analysts believe that the main reason is the solar photovoltaic industry suffered from trauma and questioned since the market is not optimistic about the end of last year, A shares also Jiawei competitor (as above LED lighting companies) are not optimistic about the earnings expectations to meet the eye everywhere, is a major factor in the market worries.

The retreat, Jiawei or I think, but will accumulate steadily, not only in the Jiawei solar lighting solar photovoltaic industry, in fact, photovoltaic lighting is divided into three parts, one for the solar panels, which is part of the power system; a light source part, the current trend is LED; three as part of the lamp.

Jiawei solar lighting is actually loaded LED lighting solar cell system, so the author Jiawei solar lighting LED lighting business location. So if the market to understand the positioning of the company, or will be optimistic about earnings expectations.

I also learned that has been engaged in photovoltaic lighting product development, production and sales of Jiawei shares, is a pioneer in global solar commercial applications, the global photovoltaic lighting industry pioneer, is the first batch of China scale solar products export enterprises, its business scope covers the solar photovoltaic and ancillary products most of the two, lighting, and lighting the Jiawei solar photovoltaic materials and equipment stripping, mainly in the photovoltaic lighting lamp based (in fact, exactly LED lighting).

Jiawei shares most of the market from the North American lighting. The advantage of the depth of integration of the industry chain is reflected in three aspects: the first is as a maker of photovoltaic energy and cultivators, Jiawei has nearly 20 years of industry experience, the upstream photovoltaic equipment scale and manufacturing cost advantage; two is the LED package, as the United States Silicon Valley Jiawei technology leading LED package the enterprise LEDengin shareholders, mastered the technology advantage in depth, so as to control the cost of the lamp has a very strong competitive price and technology; third is the roots of the European market, with photovoltaic LED lighting product line expansion, Jiawei can also rely on the strong channels of overseas market and gain a foothold, can be said to have Jiawei many of the domestic LED lighting companies dream of overseas market share and distribution channels.

Therefore, the capital market is not to be mean the whole LED industry look bad or lack of Jiawei future capital road is bumpy.

On the contrary, I was very optimistic about the strong rebound in the late Jiawei solar lighting.

There are still worries, Jiawei should also be cautious of course, in the law of the development of the development trend of LED lighting industry and industry in recent years, Jiawei like there are worries.

First of all, Jiawei is an almost on the export market to occupy all performance reports LED lighting company, which at present similar LED listed companies is the only one.

Fluctuations in the export market, the European debt crisis continues to spread will be a big test. Secondly, the lighting industry has a very strange phenomenon, we do good business to cultivate the domestic market, mostly frustrated, or that the domestic market and the enterprise of a war is not much success, need to go through a series of twists and turns.

The author analyzes the reason, the most important reason is the complexity associated with the domestic market and occupation managers bring enterprise at the helm of the idea transformation, selection, marketing team management and market operation mode brought very big challenge, namely the The climate does not suit one.

LED queuing listed companies still ruguojiangzhiji.

However, you must also be clear that the current capital market is snobbish and realistic, LED and photovoltaic technology is no longer a non hi tech industry. Therefore, the listing is not just a broker thing, seize the opportunity to market, enhance the core competitiveness of enterprises in order to improve the overall bargaining power.

The author of this paper is Liu Jun, a senior commentator of Guangya network, which belongs to the lighting industry of. Please indicate the source and author of the copyright. Contact: lj@alighting.)

. Copyright statement: This article is from the Aladdin lighting network, if any infringement, please contact the station staff, we received immediately after the deletion, thank you!


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