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In just over a year, there have been three billion-level LED companies in the company, such as Duo Duoli, Bolunte and Vision Optoelectronics, which closed their doors due to financial problems, and now there is a case of Haobo Optoelectronics falling into a business crisis. Shenzhen Haobo Photoelectric Co., Ltd. had an operating income of 200 million yuan last year. In just one year, the news of the company’s suspension of production was reported on the market. Yesterday, Shenzhen Business Daily reporter found that the entire LED industry is still in the winter.
What problems does the company encounter at present? Mainly due to funding issues. Mr. Wang said that he learned that the company delayed paying wages in September this year, and in October the company had a problem with the capital chain. The funds could not be transferred and no materials could be purchased. Mr. Wang believes that the main cause of the company's capital chain break is management confusion and financial confusion, which is the result of business problems leading to the break of the corporate capital chain. According to reports, the orders of Haobo Optoelectronics have been sufficient, the main reason for the factory shutdown is that the company defaulted on the supplier's payment, which led to the collective supply of suppliers.
Is there a return to work? Mr. Wang said: Most of the workers have gone, and the company has not resumed work for the time being. At present, the company has to wait for the introduction of new investors to make new progress.
Mr. Wang said that he is very optimistic about the LED industry. From the performance of Haobo Optoelectronics in recent years, the LED development trend is also very benign. Once the company restarts, he is confident that the company will gradually repay the arrears of suppliers.
How much will it make Haobo Optoelectronics work? About 10 million to 20 million yuan. Mr. Wang introduced that the company's equipment is in the market, and the influence in the industry is still there. As long as these operations are good, Haobo Optoelectronics will not be able to make a comeback.
The reporter found that from September to October, after Haobo Optoelectronics fell into a crisis of operation, when it was urgently seeking financial assistance, it had heard the news of the involvement of Baishi Optoelectronics. It was said that the company had placed a number of orders after contact with Haobo Optoelectronics. Haobo Optoelectronics resumed operations and hopes to take over its production line.
Shenzhen Commercial Daily reporter connected Wang Peng, deputy general manager of Baishi Photoelectric Technology Co., Ltd. Wang Peng revealed that he had planned to intervene in early November. At that time, he had opened a supplier conference and also joined some suppliers to send a batch of orders to Haobo Optoelectronics, in order to maintain its normal operation. However, due to the unification of the opinions of several shareholders of Haobo Optoelectronics, Baishi Optoelectronics has officially withdrawn at the end of November.
There are many reasons for the withdrawal, but it is not difficult to see that the funding problem of the shareholders of the company is complicated. There are not only bank loans, but also triangular debts such as suppliers’ arrears. How much is it currently owed? What is the accounts receivable and accounts payable? When the reporter was investigating, he did not know the most answer.
According to informed sources, there have been four billion-dollar LED companies that have encountered financial problems. This is just a situation that has surfaced. In fact, there have been many LED small businesses that have closed down due to funding problems in a year. These enterprises quietly closed their doors and shut down their business. The impact was not great. Therefore, the media did not report it and it was difficult to be known to the society. And LED companies are experiencing a wave of bankruptcies.
Where are the core issues of the LED industry? Mainly due to overcapacity. In the interview, most companies pointed out. The huge market potential of LED has attracted many companies to enter the LED industry blindly. Some securities companies introduced in the research report. It is predicted that during the 12th Five-Year Plan period, the LED industry is expected to achieve the goal of quadrupling. By the end of 2015, China's LED lighting penetration rate reached 20, and the industry is generally estimated to be more optimistic.
According to the data, the LED industry, one of the three major breakthroughs in the development of strategic emerging industries in Guangdong, is developing rapidly.
As far as Guangdong Province is concerned, there are more than 20 LED listed companies. The companies such as Qinshang Optoelectronics and Hongli Optoelectronics have successively landed in the capital market, with a total market value of more than 20 billion yuan. The total investment of five provincial LED industry bases in Huizhou, Dongguan, Jiangmen, Nanhai and Zengcheng exceeded 50 billion yuan. Among them, Huizhou Career, Zhoulei Technology, Zhongjing LED Chip Project, Guangzhou Zengcheng LED Epitaxial Chip Project and other heavyweight industrial investment projects have a total investment of more than 20 billion yuan. Other industry giants are also eager for the LED industry. Statistics show that BYD, Tsinghua Tongfang, Rainbow Group, Changhong, China Electronics Group, Skyworth, etc. have also entered this field.
A rush to the top led to overcapacity. In particular, the global economic downturn has caused domestic LED companies that rely mainly on exports to make profits, and the domestic market has not yet opened, which has made LED companies difficult. Yesterday, the reporter looked through the third quarter report of a number of LED listed companies and found that the profit decline of LED companies was very strong.
Winter will last for more than half a year and we are in the winter. Wang Peng, deputy general manager of Baishi Optoelectronic Technology Co., Ltd. believes that it takes six months to one year for the LED industry to get out of the winter. To change this dilemma, Wang Peng believes that there are only two ways: First, digest production capacity, let the funds and enterprises that make quick money in the industry withdraw from the industry, and the rest of the enterprises that have been polished by the alchemist in the market; The industry is deleveraging. When funds no longer have high leverage for the LED industry, such industries can become benign development enterprises.
When investigating LED companies, the reporter found an interesting phenomenon, that is, the entire LED industry, including listed companies, is short of money. In terms of listed companies, in 2011, Zhou Ming Technology's accounts receivable were 42.92 million yuan, accounting for 8.06 million yuan of operating income; Liard was 118 million yuan, accounting for 23.47 percent of operating income. As of September 30 this year, Zhou Ming Technology, Liard Lianchuang Optoelectronics' accounts receivable are still at a high level.
Listed companies lack money, and enterprises that have exceeded 100 million yuan are also short of money. When an industry insider talked about the operation status of Haobo Optoelectronics' display, it was very frank: the display was generally arrears of delivery, and after delivery, half of the money recovered was not available. According to the introduction, according to the payment practice of the LED industry: For downstream customers, they are required to pay 30 deposits first, and then pay some of the money after the display is shipped from the factory. After the final acceptance, the final payment will be cleared. On the supplier side, the whole machine will be assembled and manufactured. The account period of the enterprise is 60 to 90 days.