Raising funds, issuing stocks, venture capital companies, stock price turmoil, and issuing plans in the LED lighting industry, along with more and more listed companies, the taste of capital has become more and more intense. I don't see you. Ou Pu Lighting, one of the three people in traditional lighting, is also eager to embark on the journey of listing this year, showing the charm of capital.
Taking Huacan Optoelectronics Co., Ltd. as an example, despite the poor market performance in the first half of this year, operating income fell as high as 40.42 compared with the same period of last year, and it was at the bottom of the first half of the year. But in the capital market, it is still a darling.
It is reported that this company, which was established at the end of 2005 and listed in 2012, has attracted more than 10 PE investment institutions to compete in the stock in just 6 years. Since its establishment in 2005, Huacan Optoelectronics has received investment from 11 venture capital institutions including IDG, Zhejiang Huaxun, Jinshi Investment, Start Growth, Tianfu Huaneng, Guofu Yongqin and Jinzhi Huifu through PE. Among them, IDG also set up two separate funds for the participation of Huacan Optoelectronics: JingTianI and JingTianII. IDG made three rounds of investment in Huacan Optoelectronics, with an amount exceeding 100 million yuan. According to analysis, the registered capital of Huacan Optoelectronics was 40 million yuan when it was established, and the first phase was only 2.2 million yuan. According to the total share capital of Huacan Optoelectronics' 300 million shares and the calculation of 9.05 yuan per share, Huacan Optoelectronics currently has a market capitalization of 2.7 billion yuan.
It is undeniable that at this stage, capital plays a very important role in the development of LED listed companies. Because of the abundant capital, LED listed companies can have the ability to grasp more development opportunities, which also makes many small and medium-sized lighting companies envy and hate. For example, on the evening of September 10, Guoxing Optoelectronics disclosed the plan for the increase. The company plans to increase the reserve price of 6.96 yuan/share to no more than 90.55 million shares, and raise funds of about 630 million yuan. After deducting the issuance costs, it will be used for the epistar chip of Guoxing Semiconductor. Project (Phase II) and supplement company liquidity. Industry veterans predict that this move will greatly benefit Guoxing Optoelectronics' future industrial chain improvement and comprehensive competitiveness.
Industry analysis, the strong capital of listed companies will help the product development, manufacturing, marketing, channels, brands, promotion, services, talents and other aspects, especially in the key time window of LED development, the role of capital will become more prominent, important.
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Capital is actually a double-edged sword capital is not a panacea. As a listed company, while enjoying certain conveniences and advantages in the process of capital operation, it also faces many troubles, such as where to find money, who to ask for money, how to use money, how to report to investors, and so on. At present, although the investors are still very optimistic about the development prospects of LED and LED lighting, the round of bankruptcy has caused the capital to be more cautious in the injection. Today, more and more listed companies are beginning to maintain a calm and rational attitude towards capital, as well as the vast majority of investors and investors.
Taking Silan Micro as an example, in mid-August, Silan Micro sent a “Invitation Invitation†to 97 institutions and individuals, including 20 fund companies, 10 securities companies and 5 insurance companies. However, within the time limit specified in the “Invitation for Subscriptionâ€, Silan Micro Underwriters only received 10 valid quotations from Shengyu Investment, Dacheng Fund, Life Asset Management and Shanghai Securities Investment. In the end, the issue price of Silan Micro was determined to be 4.80 yuan / share, and the number of shares was reduced from the original limit of 170 million shares to 91.2 million shares.
At the same time, LED listed companies have nowhere to hide about the use of capital in the media under the spotlight, and need to accept some doubts. And because of the turmoil in the stock market, investors are more concerned about the actions of LED listed companies' capital.
Taking Dehao Runda as an example, it has recently been exposed by the financial media that “Dehao Runda’s 51 million development expenditure is difficult to achieve performanceâ€. According to the semi-annual report of Dehao Runda, Dehao Runda's development expenditure at the end of the first half of 2013 reached 149 million yuan, an increase of 51 million yuan from the end of the previous year, accounting for 96.57% of the total expenditure on research and development projects in the current period. It is reported that the same industry The amount of development expenditure since the company's listing has been small. As a result, Dehao Runda was found to be suspected of over-capitalizing R&D spending to adjust its performance, but it is still difficult to achieve performance.
Xiamen Xinda recently announced that the company plans to issue non-public offerings of no more than 80 million shares, issue a reserve price of 9.72 yuan per share, raise funds of no more than 700 million yuan, invest in Anxi LED packaging new project, Xiamen LED application product expansion project, RFID product design and production line expansion project. Although Xiamen Xinda is full of confidence, the market does not buy it. After the announcement, the company's share price continued to fall, and the biggest drop in the intraday price exceeded 6.
It can be seen that for capital, lighting listed companies also need to be careful at all times.
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