[High- tech LED reporter Hu Yanling reports from Guangzhou] On August 16, 2012, the 1st meeting of the 2nd G20-LED Summit was successfully held at the Westin Guangzhou Canton Fair. More than 20 public financial media such as "High-tech LED", "New Industry", CCTV Financial Channel, China Securities Journal, Securities Times, Economic Observer, Daily Economic News, and several industry media participated in G20-LED Summit press conference.
At the meeting, various media expressed strong interest in the performance of LED companies in the capital market. Since the second half of last year, the LED industry has begun to fall into a downturn. The performance of listed companies is generally not very good. Is there some caution in raising funds? In the process of financing, the non-listed company has excessive financing costs and affects the normal operation of the company? A series of financing issues for LED companies have been answered by the members of the summit.
Listed companies need to strictly control the scale of financing
At this stage, it is very difficult to find a company with a long-term development plan in the LED industry, which is really strong in strength and has a very healthy daily operation. It has long-term development plans in terms of products, technology, management, market and sales. In the early stage of the industry development, some listed companies used government subsidies to paint brilliant performance. The hunger and thirst for funds has also caused many listed companies to continue to issue additional funds in the capital market or issue corporate bonds to raise funds.
"When these companies are expanding, I don't think they have adjusted according to the real situation of the industry and the pace of industry development, which ultimately led to their consumption of funds in advance," said Dr. Zhang Xiaofei, secretary general of the G20-LED Summit.
However, when a reporter questioned the slow progress of the investment projects of LED listed companies, whether it was caused by the downturn in the industry, Gong Weibin, chairman of Ruifeng Optoelectronics, said that the progress of the investment in the funds raised may be a large number of companies listed in the previous years. “Because they have more funds, they will invest in the upstream or downstream of the industrial chain, even in areas that they are not familiar with.â€
Gong Weibin believes that the amount of financing for companies listed on LEDs as their main business IPO is not particularly large, so there will not be too many problems. “Ruifeng Optoelectronics does not have the problem of slow investment in raised funds, because the company itself has less funds to raise funds.â€
Financing promotes non-listed companies on the right track
As an emerging industry, LED is an intellectually intensive and capital-intensive industry, especially when faced with competition from Taiwan, South Korea, and European and American companies. Capital demand has become very prominent, so financing is a development of emerging companies in previous years. One of the most important tasks.
Yan Chunhui, chairman of Yaweilang, pointed out that in addition to equity financing, Chinese companies have another great advantage to have great potential to mobilize banking resources. He suggested that the mobilization of bank resources needs to be controlled to a certain extent. As for the financing costs, it must be related to the size of the enterprise.
In the initial stage of the enterprise, because fixed assets and net assets are not high, it is relatively difficult to obtain bank loans. Dr. Zhang Xiaofei gave some enterprises a trick: “Enterprises can guarantee interest-free loans through the government. Early enterprises can also consider accepting venture capital. If the development process, the company’s profitability is very strong, and at the same time, it does not want the company’s equity to be diluted too much. At this time, you can do it through banks and guarantee companies."
Zhang Ming, chairman of Xinli Light Source, revealed that in 2008, Xinli Light Source was short of money, bank loans were also due, and other funds could not enter, but in a desperate way, they accepted a PE financing. "Now from the cost point of view, this investment is correct. Although we cut the meat, but let the company go to formalization, the financing costs have also come down."
Zhang Ming pointed out that the LED companies that are now listed are richer in funds. If it is facing a bigger market challenge, funding is still not enough. In terms of financing, first of all, enterprises must have forward-looking, technical reserves and accurate predictions on the market.
At the meeting, various media expressed strong interest in the performance of LED companies in the capital market. Since the second half of last year, the LED industry has begun to fall into a downturn. The performance of listed companies is generally not very good. Is there some caution in raising funds? In the process of financing, the non-listed company has excessive financing costs and affects the normal operation of the company? A series of financing issues for LED companies have been answered by the members of the summit.
Listed companies need to strictly control the scale of financing
At this stage, it is very difficult to find a company with a long-term development plan in the LED industry, which is really strong in strength and has a very healthy daily operation. It has long-term development plans in terms of products, technology, management, market and sales. In the early stage of the industry development, some listed companies used government subsidies to paint brilliant performance. The hunger and thirst for funds has also caused many listed companies to continue to issue additional funds in the capital market or issue corporate bonds to raise funds.
"When these companies are expanding, I don't think they have adjusted according to the real situation of the industry and the pace of industry development, which ultimately led to their consumption of funds in advance," said Dr. Zhang Xiaofei, secretary general of the G20-LED Summit.
However, when a reporter questioned the slow progress of the investment projects of LED listed companies, whether it was caused by the downturn in the industry, Gong Weibin, chairman of Ruifeng Optoelectronics, said that the progress of the investment in the funds raised may be a large number of companies listed in the previous years. “Because they have more funds, they will invest in the upstream or downstream of the industrial chain, even in areas that they are not familiar with.â€
Gong Weibin believes that the amount of financing for companies listed on LEDs as their main business IPO is not particularly large, so there will not be too many problems. “Ruifeng Optoelectronics does not have the problem of slow investment in raised funds, because the company itself has less funds to raise funds.â€
Financing promotes non-listed companies on the right track
As an emerging industry, LED is an intellectually intensive and capital-intensive industry, especially when faced with competition from Taiwan, South Korea, and European and American companies. Capital demand has become very prominent, so financing is a development of emerging companies in previous years. One of the most important tasks.
Yan Chunhui, chairman of Yaweilang, pointed out that in addition to equity financing, Chinese companies have another great advantage to have great potential to mobilize banking resources. He suggested that the mobilization of bank resources needs to be controlled to a certain extent. As for the financing costs, it must be related to the size of the enterprise.
In the initial stage of the enterprise, because fixed assets and net assets are not high, it is relatively difficult to obtain bank loans. Dr. Zhang Xiaofei gave some enterprises a trick: “Enterprises can guarantee interest-free loans through the government. Early enterprises can also consider accepting venture capital. If the development process, the company’s profitability is very strong, and at the same time, it does not want the company’s equity to be diluted too much. At this time, you can do it through banks and guarantee companies."
Zhang Ming, chairman of Xinli Light Source, revealed that in 2008, Xinli Light Source was short of money, bank loans were also due, and other funds could not enter, but in a desperate way, they accepted a PE financing. "Now from the cost point of view, this investment is correct. Although we cut the meat, but let the company go to formalization, the financing costs have also come down."
Zhang Ming pointed out that the LED companies that are now listed are richer in funds. If it is facing a bigger market challenge, funding is still not enough. In terms of financing, first of all, enterprises must have forward-looking, technical reserves and accurate predictions on the market.
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