The op lighting value most is undoubtedly led project, but from the pressure of domestic and foreign competitors will enter the market insurmountable stumbling block is.
Different from a few years ago in the middle reaches of the industry chain in the beautiful scene of a dash of capital market, wantonly "Misappropriating", nearly two years lighting enterprise application of capital attraction is increasing.
In the recent IPO declaration tour, domestic lighting giant Opple Lighting Co., Ltd. (hereinafter referred to as the "op lighting") is full of twists and turns. In last year's OPPLE lighting is only one step away from the market, due to market turmoil and imbalance between supply and demand, the Commission suspended the process of a number of enterprises IPO. March 9th Securities Regulatory Commission issued a notice, OPPLE lighting IPO first application, the official access to the public offering of shares to raise funds eligibility.
According to A shares prospectus shows that the company intends to issue the number of shares does not exceed 58 million shares, not less than 10% of the total issued share capital, the total issued share capital of not more than. The company raised funds will be used for green lighting production, lighting R & D center building, exhibition center and marketing network construction of 3 projects.
Reporter interviewed the personage inside course of study expresses, "future main home lighting by the real estate market downturn background, Sturm und Drang or growth and difficult to see. At the same time, the enterprises also have company equity is too centralized, year-on-year decline in profits, product quality is not qualified and fund-raising project prospects uncertain, many problems. "
Profit is declining year by year
OPPLE lighting is a collection of R & D, production and sales in one of the integrated lighting enterprises. The company's predecessor can be traced back to August 1996 by the Ma Xiuhui, Wang Yaohai couple was founded only 8 employees of small workshops. After 20 years, the original small workshop has developed into has more than 6000 employees and Shanghai, Zhongshan Industrial Park, Wujiang Industrial Park production base of industry leaders.
According to the reporter, Wang Yaohai, Ma Xiuhui currently directly holding OPPLE lighting 40.97%, two people also held by CO holding Zhongshan OPPLE OPPLE 51.37% of the shares of. In addition, Ma Xiuhui also indirectly holds 0.0035% of the shares of OPPLE lighting. After the listing, Wang Yaohai and Ma Xiuhui couple is still an absolute holding position. But the company's equity is too concentrated, will have a negative impact on the major decisions of the Future Ltd.
Reporter access to the company's prospectus found that the more important issue is that the company in recent years, profits continue to decline. According to the prospectus data show that the company's 2012 to 2014 operating income was $. Compared to 2012, OPPLE's total operating income increased by 22.4% in 2014, but the total profit fell 12%, net profit from 2013 to yuan in 2014 fell 300 million yuan, down 37.2%.
But not all of the lighting business profits are declining. In 2014, the real estate industry growth rate has slowed down and the project continued to decrease, Foshan Lighting 2014 net profit reached 2.66 billion yuan, up 5.63%; the sun lighting 2014 annual net profit of 288 million yuan, an increase of 24.27%.
OPPLE lighting, said the company's profit decline due to the management costs and operating expenses increased. The company's revenue comes mainly from the Ministry of Finance and the national development and Reform Commission to organize the implementation of "national efficient lighting product promotion project" financial subsidies, after 2014 because of the slower in checking subsidies for efficient lighting project, application of 7223 million yuan subsidies has not yet received, resulting in a substantial decrease in revenue.
At the same time, OPPLE lighting to increase overseas business investment in Europe, Brazil, India and South Africa and other places to set up a subsidiary. But in the overseas subsidiaries of OP lighting, in addition to oupudi worship foreign, Op Brazil, Op South Africa, op the Netherlands and op India are loss making state, op the Netherlands two company loss is most serious, losses more than 28.39 million yuan.
OPPLE lighting overseas subsidiaries has not yet profitable, it will drag on the overall performance of OPPLE lighting." LED industry analyst Sun Zhihong told reporters.