The hottest lighting industry in January major eve

A review of major events in the lighting industry in January: opportunities at a low point

in the first month of the new year, many local tycoon enterprises have released expansion plans, among which Zhouming technology invested 2.2 billion in the construction of Zhouming Zhongshan intelligent manufacturing base project to layout production capacity in advance, Hongli Zhihui increased its LED + car service by 2billion yuan, and Guoxing optoelectronics increased its next-generation LED packaging devices and chips by 1billion yuan. The total expansion scale of these three enterprises alone has exceeded 5billion yuan

from the perspective of industrial chain, Hongli Zhihui and Guoxing optoelectronics are both in the midstream packaging field. Previously, due to the policy support and the price rise caused by the shortage of supply in the chip field, chip packaging manufacturers in the mainland have been expanding in the past two years. At present, the whole industry has shifted from short supply to overcapacity. International giants have stripped and sold this part of business because of the increasingly fierce competition in the general lighting field, Taiwan factory has also fallen into the problem of maintaining performance stability due to the price decline caused by overcapacity. San'an optoelectronics also fell by the limit due to the media exposure of high inventory and other issues a few days ago. 2019 was predicted by economists as a year of "doom and gloom". The downward trend of the economic environment has become clear. At this time, will the expansion of production further lead to overcapacity

5g commercial Eve the industry's first 5g base station core chip

infrastructure investment, which fell in the first half of the year, is showing a comprehensive recovery trend with the changes in the domestic economic environment. According to statistics, in the last quarter of 2018, the total investment in infrastructure projects across the country approved by the national development and Reform Commission has exceeded trillion, especially rail transit infrastructure, which is favored, and is expected to drive the construction of 5g micro base stations. On January 10, Miao Wei, Minister of industry and information technology, said in an exclusive interview with CCTV that China will carry out 5g commercial promotion this year, some regions will issue 5g temporary licenses, and 5g, 5g I swing angle pad and other commercial products will be used in the second half of the year. On January 24, Huawei officially released the industry's first 5g base station core chip, Tiangang, at a press conference held in Beijing. This chip has made breakthroughs in integration, computing power, spectrum bandwidth and other aspects, achieving a 2.5-fold improvement in computing power. The single chip can be controlled up to the industry's highest 64 channels, supporting 200m operator spectrum bandwidth, and meeting the deployment needs of future networks in one step. In addition to Huawei, many 5g equipment providers have also begun to play a prelude to the scale deployment of 5g

Sanan optoelectronics' 6billion war investment campaign against financial mystery

on January 16, the media published an article entitled "Sanan optoelectronics' reproduction of crisis signals, and the whereabouts of the controlling shareholder's 8.6 billion advance payment is a mystery", questioning the whereabouts of Sanan optoelectronics' advance payment. Later, the media disclosed its high inventory and other issues. Sanan optoelectronics closed at the daily limit, plus the previously questioned false high net profit, The two limit falls have significantly reduced the market value of San'an optoelectronics by more than 10 billion in one month, and the pledge ratio of major shareholders has also been rising due to the decline of share prices, approaching the high-risk line of 80%

in order to fight against the decline of share price and trigger the outbreak of systematic risks of the company, San'an optoelectronics introduced strategic investments of no less than 5.4 billion yuan from three institutions, including industrial trust, Quanzhou financial holding and Anxin fund, and liquidity support of 600million yuan from Quanzhou financial holding, with a total amount of 6billion yuan. This move has had an immediate effect. At present, the share price of San'an optoelectronics has stabilized. The liquidity support of 600million yuan has provided strong support for alleviating the short-term liquidity risk of the controlling shareholders. The availability of subsequent strategic investment funds is even more valuable for boosting market confidence

during the performance forecast period, goodwill has become a lingering nightmare for LED listed companies

January entered the 2018 performance forecast disclosure period, of which the most noteworthy is the provision for goodwill impairment of listed companies due to the non-compliance of the performance of the target enterprises of mergers and acquisitions. Up to now, according to the information received, two companies, teleinfo and Yinxi technology, have stepped on the thunder. Among them, teleinfo said in the performance forecast announcement that the full year net profit in 2018 was a loss of 479 million yuan to 484 million yuan, a year-on-year decrease of 579% - 584%, due to the sharp decline in the performance of the holding subsidiary Zhejiang Weier Technology Co., Ltd., and the provision for goodwill impairment of about 600million yuan; In the performance forecast announcement, Yinxi technology said that the net profit loss attributable to shareholders of Listed Companies in 2018 was 595 million yuan to 600 million yuan, a year-on-year decrease of 372% - 374%, mainly due to the full provision for impairment of the goodwill of 490 million yuan formed by the merger and acquisition of Xingke electronic technology, and the confirmed asset impairment loss of 490 million yuan. The amount of pre loss of the former is the total net profit of the company in the past six years, and the latter also suffered its first loss after listing due to the thunderstorm of goodwill

according to the current economic situation, goodwill will be the biggest thunder of Listed Companies in the next period of time, and these two enterprises will not be the end of the goodwill thunderstorm, but the beginning. It seems not too much to describe it in succession

quietly exit the new third board, which seems to be a hot potato

in early January, juke lighting and Dasen lighting announced their delisting from the new third board one after another. The former Xiangmo Mo seems to have changed overnight and explained in a special or eye-catching way that its use conditions have become a hot potato. According to the data of shell digging, there were more than 1500 enterprises delisted from the new third board in 2018. The growth of the number of enterprises on the new third board throughout the year was negative, and the listing speed was lower than the delisting speed. On the one hand, this mixture also shows good resistance to the media widely used in lithium batteries, which is the high cost of information disclosure. While the new third board will bring various benefits to enterprises, it will also bring more tax and management costs due to the increased transparency and structured structure. If enterprises lack good growth, they will have financial pressure; On the other hand, some enterprises seek new territories or financing channels in order to better finance and cooperate with the long-term development of enterprises

conclusion

generally speaking, the downward trend of the economic environment is obvious, and the development of enterprises is polarized. On the one hand, the reputation thunderstorm caused by mergers and acquisitions occurs frequently, especially in the performance forecast disclosure period and the financial report disclosure period after the year, which will have an impact on Listed Companies in a short time. On the other hand, the government will use funds to help high-quality private enterprises resolve short-term liquidity risks, accelerate the pace of 5g business and increase infrastructure investment at the policy framework level, so as to provide more development opportunities for enterprises. It is also hoped that enterprises can seize this wave of development opportunities to avoid the reappearance of the wrong evaluation of the economic situation, the wrong judgment of policy direction, and the repetition of the problem of blindly leveraging