Shenzhen billion-level LED enterprises closed down and workers waited for the boss in the hot sun

Shenzhen, the sun in July, is somewhat sinister. At the factory, the gate was locked and about 20 workers were sitting in the shade of the trees. "We are ordinary workers, waiting for wages here," one of them said.

As rumored, the vision light electronics closed down, and the company's major shareholder Xing Yi was missing. Xing Yi, also has an identity - was once one of the two founders of Zhou Ming Technology (300232, SZ), the company listed on the GEM last year. This identity was once unknown to everyone. Xing Yi’s indebtedness is somewhat embarrassing.

Shi Weili, a senior person in the domestic LED industry, said that the LED display industry, the problem of triangular debt is very serious, and most companies that are unable to finance are suffering.

Multi-factor detonation of the capital chain

Xing Yi once sent a short message to the outside world: "Because of the serious shortage of funds, and the ignorance of Guohong Property, the factory was in trouble."

“We are ordinary workers, waiting for wages here.” A worker waiting at the factory gate revealed that the company’s employees were less than two months old, and many of them had not received wages for half a year. The total number of employees in the factory was 100. There are many.

The above employees pointed out that the company's products are mainly sold to Europe and the United States. Due to the poor foreign environment, it can be said that there is no class to add.

The reporter learned from people in the industry that the best time for the domestic LED display industry is from 2005 to 2006. “Actually, this industry was still very brilliant in the previous year.” Shi Weili believes that the domestic LED display market has reached its peak after more than a decade of development, and there is almost no profit margin.

Shi Weili also pointed out that in this industry, the situation of the triangular debt is very serious, not only now, but also over the years. In the past, it was also possible to raise funds through bank loans, etc., and now there is no money, so most companies are very painful. Except for a few large listed companies, other companies will not work.

Vision Electronics' financial director once said that the reason for the company's failure is largely due to the difficulty of SME loans. They once got a loan from Hangzhou, but the difficulties and twists and turns encountered during this period are unimaginable.

While LED display companies are difficult to finance through banks and other channels, external funds are not as hot as LED lighting. The industry is only short-lived at the Olympics and Shanghai World Expo.

Shi Weili believes that this may not be related to the government's support for the sub-sector. The government has introduced some policies, but it is too inoperable, but some simple big policies have been introduced.

Be alert to LED lighting investment risks

Faced with the glorious reality of the LED display market, many domestic LED companies have focused their attention on the lighting field. LED lighting has also become a key word in the information of LED listed companies. However, some industry observers pointed out that the idea that only LED lighting can make the LED industry flourish is wrong. In the future, it is very likely that everyone will die in a pool of stagnant water.

According to statistics, among the many LED-related companies listed in 2012, Wanrun Technology raised 220 million yuan to invest in new high-efficiency SMD LED projects and LED green energy-saving lighting production projects; Changfang Lighting raised 260 million yuan for LED lighting Light source and lighting expansion; Jufei Optoelectronics raised 310 million yuan to expand production of backlight LED and lighting LED.

"But now there is no good speculation in LED lighting. If you want to go public, it will be very difficult." Shi Weili said. Shi Weili said that many listed companies now add lighting to their display screens. In general, LED lighting products are more profitable than displays.

Relevant data show that the gross profit margins of LED display and LED lighting related products of listed companies such as Chau Ming Technology, Lehman Optoelectronics, Changfang Lighting and Qinshang Optoelectronics in 2011 were 23.8% and 35.83%, respectively; 32.13%, 27.71%; 27.54 %, 34.91%; 31.21%, 37.62%.

Some insiders pointed out that in general, the gross profit margin corresponding to 20% of gross profit margin is less than 5%.

Shi Weili believes that "in fact, the gross profit margin of many traditional LED products is still above 30%, but everyone has not seen it. Moreover, due to local protection and other factors, although there are policy support, the gross profit margin of LED lighting is no longer good. It is."

News person

Xing Yi was one of the two founders of Zhou Ming Technology

“Xing Yi was also working for others. Later, the current chairman of Zhou Ming Technology founded Zhou Lei Electronics, which is the predecessor of Zhou Ming.” Shi Weili spoke of another identity that Xing Yi did not know about the public.

Zhouming Technology's prospectus shows that the company's predecessor was Shenzhen Zhoulei Electronics Co., Ltd., which was established on October 26, 2004. On May 19, 2008, Zhoulei Electronics was renamed as “Shenzhen Zhouming Technology Co., Ltd.”.

The above prospectus also shows that Zhou Lei Electronics was jointly funded by natural persons Lin Yifeng and Xing Yi. Lin Yifeng invested 325,000 yuan, accounting for 65%. Xing Yi invested 175,000 yuan, accounting for 35%. Lin Weifeng is the current major shareholder, chairman and general manager of Zhouming Technology.

In September 2006, Xing Yi intentionally transferred 35% of his equity. After negotiation, he decided to transfer 35% of the capital contributed by Lu Delong to Xing Yi. Among them, 2.5% is Lu Delong's investment share, and the remaining 32.5% is Dai Linyi. Hold, held in the name of Ludron.

Why did Xing Yi withdraw from Zhou Lei Electronics, what kind of story has happened, and what kind of person is it? The reporter tried to get an answer by communicating with Zhou Ming Technology. However, as of press time, the other party has not received a response.

It is worth noting that Vision Light Electronics' industrial and commercial materials show that the company was established on December 5, 2005. At that time, Xing Yi had not transferred the 35% equity of Zhou Lei Electronics to Lin Weifeng and others.

A Shenzhen LED industry insider told reporters that it is not convenient to evaluate Xing Yi at this time, but the problem of company funds has an important relationship with him. The recent divestment of two shareholders is the key.

According to the data, there have been four shareholding changes since the establishment of Vision Optoelectronics, which were May 30, 2008, October 20, 2008, June 3, 2009 and July 4, 2011, except for Xing Yi, other shareholders. Change frequently.

Function: The Cob Work Light has 1-5 modes;

Feature: The COB Work Light usually higher power and super bright than Led Work Light;

Trait: The products are waterproof, shockproof;

Method of application: Simple on/off push button operation;

Range of application: The COB Work Light for emergency events, camping, outdoor activities and indoor;

Adervantages: Our products are saled with factory price, and the quality can guarantee, lastly we provide warranty for 1 year.


COB Work Light

Cob Work Light,Cob Led Work Light,Cob Led Flashlight,Cob Flashlight

Ningbo Henglang Import & Export Co.,Ltd , https://www.odistarflashlight.com

Posted on