On November 22nd, Guangdong Ganhua issued a notice saying that the company continued to publicly transfer 100% equity and creditor's rights of Deli Optoelectronics. After considering the situation of Deli Optoelectronics and the market reaction of the previous three listings, the company plans to reduce the starting price of Deli Optoelectronics 100% and the company's 230 million yuan credit to 300 million yuan.
Guangdong Ganhua said that the business performance of Deli Optoelectronics has caused a heavy burden on the company's financial status and operating results. With its current operating conditions, it is unlikely that the subsequent year will turn losses. If the company sells 100% equity and related creditor's rights of Deli Optoelectronics at a lower than the evaluation price, it will generate a certain degree of loss, but it can avoid the long-term adverse impact of Deli Opto's continued loss on the company.
In addition, the company has clearly defined the direction of business transformation in the field of big health, and Deli Optoelectronics cannot produce synergies with the company's strategic planning. The company's sale of 100% equity and related creditor's rights of Deli Optoelectronics is conducive to further focusing on industrial transformation and development.
It is understood that in 2011, Guangdong Ganhua, which is mainly engaged in the production and sales of sugar, pulp and paper biochemical products, has entered the LED field with “high-profileâ€. Guangdong Ganhua said in its 2013 annual report that the products produced by Deli Optoelectronics are high-brightness and ultra-high-brightness LEDs, which are the main part of LED growth in the future and have good market prospects. In the future, the company will be based on LED epitaxial wafers and chip production projects, and gradually build LED industry chain to enhance the company's industry position.
However, the company's LED business development has not been as smooth as imagined. In recent years, the operation of Deli Optoelectronics showed that the LED epitaxial wafer production project started production in the second half of 2014 did not reach the planned progress in the first year. Since January to June 2015, the large-scale production of Deli Optoelectronics has been stopped by listed companies. In 2014 and 2015, Deli Optoelectronics' net profit was -20,754,400 yuan and -53,393,900 yuan respectively. In 2016, the annual operating income was 63.421 million yuan, but the net profit loss increased to 92.821 million yuan. In the first half of this year, although the business situation has improved, it still has a loss of 16.446 million yuan.
At this stage, the concentration of LED industry is getting higher and higher. The market share of enterprises such as Huacan Optoelectronics, Mulinsen, Honglizhihui, Guoxing Optoelectronics and Sanxiong Aurora has been increasing year by year, and the status of the industry has become more and more consolidated. What followed was the collapse of many companies and business restructuring. This year, Qinshang shares set up a semiconductor business, focusing on the education industry, and companies such as Landing International, Polyfluoride and Guangdong Ganhua have divested their LED business. As the concentration of the LED industry continues to deepen, more and more competitive LED companies will be eliminated.
Judging from the current development trend of the LED lighting industry, for a group of listed companies with small LED business and low growth rate or even negative growth, cross-border and stripping LED business has become a helpless choice that has to be faced. . At the same time, this also confirms that the LED lighting industry is entering a new era.
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