Zhejiang Shenghui Lighting terminated IPO review

As the IPO came to an end in the self-examination phase of the audit of corporate financial special inspections, the queuing enterprises also experienced a peak of “withdrawal”.

According to the latest list of declared companies by the China Securities Regulatory Commission, a total of 123 IPO queuing companies have been terminated since 2013, and 75 of them were terminated last week. The reporter found that among the 75 “withdrawal” companies, Shengdi Optoelectronics Technology Co., Ltd. (Shenghui Lighting), which applied for the IPO of the GEM, was among them.

At the beginning of April, in the Wuhe Minhe Industrial Park in Zhejiang, the reporter saw the hot construction scene at the start of the project of Shengdi Optoelectronics Technology Co., Ltd. This annual production of 4 million sets of high-efficiency and high-power LED fluorescent lamp construction projects is a government-supported new energy industry project with a total investment of 145 million yuan and an area of ​​about 68.38 mu.

“From project declaration to official start, the project promotes a green light all the way.” Zhao Hongliang, the person in charge of the project, expressed his excitement in words. He said, “After the completion of the project, it is estimated that the annual sales will be around 500 million yuan. By 2016, our sales will be The goal is to exceed 1 billion yuan."

"The European debt crisis has severely hit export-oriented Chinese manufacturing, so it is less likely that companies with dominant overseas business will go public," a securities analyst told the "High-tech LED" reporter.

The reporter learned that Shengdi Optoelectronics was established in 2004, mainly producing traditional light sources and lamps, and then transformed LED lighting. However, the transformation of Shenghui Lighting still faces severe market challenges. Due to the high production cost of LEDs, it is difficult for products to enter ordinary people's families. At present, Shenghui Lighting's sales revenue of more than 500 million yuan per year, the domestic market only accounts for about 10%, and the foreign dependence is too high.

However, the LED lighting export market in 2012 has undergone major changes. The successive improvement of the EU and US import product standards has added to the LED lighting industry, which means that the export of nearly 10,000 LED companies nationwide is difficult. The "encirclement and suppression" of technical barriers in Europe, America, and Japan, the insufficiency of demand, and the dilemma of porridge.

At the same time, the competition in the domestic LED industry has become increasingly fierce. In this situation, LED manufacturers need to come up with their own methods to compete for the market, and the price war has begun to spread. Many manufacturers' sales strategies are tilted toward price, and many manufacturers follow suit.

In 2012, many companies including Changfang Lighting, Mulinsen, Zhenmingli and Dehao Runda participated in the price war. Among them, an LED lamp of the rectangular lighting has been reduced from 70 yuan to 50 yuan, and the price has dropped to 30 yuan later, opening the price war of the LED lighting industry.

"This verification is to squeeze the water for the IPO barrier lake. I want to pass the verification to let the non-compliant enterprises with serious performance declines actively withdraw the materials, and then release the high-quality enterprises." A brokerage company said.

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