500 million how many LED projects can be driven by cash

In the purchase of Guangdong jianlongda led assets "courage" after 2009, de Ho Runda (002005, shares) began in the country in the name of LED around staking, has declared ready to launch LED project in Anhui Wuhu, Jiangsu Yangzhou, Liaoning Dalian and other places.

Wuhu project funds

In March this year, BDO Runda chairman Wang Donglei said publicly through the media, a total investment of 6 billion yuan in Wuhu Elec-Tech LED industrial project will be launched, Elec-Tech is expected in the next 18 months to build a covering of LED lighting industry chain downstream of the large LED optoelectronic industry base, an investment mainly includes the manufacture and sale of LED chip, package, three lighting project, built to put the annual sales income will reach 3 billion 200 million yuan.

However, the first Financial Daily reporters learned that the reality is not so optimistic imagination.

May 18th, the reporter contacted the Wuhu economic and Technological Development Zone Finance Bureau, a reluctant to disclose the name of the middle-level cadres, asked about the progress of the project in Wuhu de Ho Runda. "This thing (designated to raise funds to the original), said the February and March news, and later said that in April, now in the year of May, there is no news. "

The private placement is October 14, 2009, China announced a non-public offering plan, all to raise funds for the project Elec-Tech Photoelectric Technology Co. Ltd. of Wuhu LED industry. It is reported that the company has Chinese Commission submitted the application for placement, to raise funds 1 billion 500 million yuan, the largest shareholder of Zhuhai BDO appliances, Wuhu Economic Development Zone photoelectric industry investment and Development Co. Ltd., Wuhu city Longwo Lake Development Co. Ltd. and Wuhu ambitious venture investment limited company will be part of the company's stock subscription, the project mainly includes chip, package and application of three sub projects, covering the industry in the downstream.

Aforementioned Wuhu open District Finance Bureau, the cadres reluctantly said that the project has been started, if the issuance can not be adopted, may be a lot of small scale, but also can only slowly put into doing.

According to a quarterly reporter saw, Wuhu project infrastructure projects in the first quarter of only 7 million 500 thousand yuan investment. And a quarterly show Elec-Tech held in the hands of money is not much, only 500 million yuan.

This is the land of Wuhu in February this year, the auction down this year due to the rain and snow weather, the Spring Festival can not start, the festival before entering, we just opened the project EIA meeting, currently in the construction of infrastructure. "In May 20th, Elec-Tech dongmi Dunfee explained to the reporter on the phone.

Dunfee also revealed the latest developments in the issue. Issuance is still in the approval. On the one hand, because in April the China Securities Regulatory Commission in general, queuing enterprises is large; on the other hand, because we used to be a small household electrical appliances, did not do LED, so the Commission is also more cautious, we are on a quarterly report of the materials recently. "

If you can not pass, Dunfee said: there will certainly be some impact on this project in Wuhu, the progress may be slow, but we can also take the form of land mortgage loans to seek the funds. "

"We planned to build a year and a half after the completion of the original, but the current state is not what we can control. Dunfee also said.

Yangzhou, Dalian project has not yet started

If the Wuhu project has been started in the "minor" in Yangzhou and Dalian, and the project has not started.

In December 2009, Yangzhou Runda photoelectricity Co., started the foundation laying ceremony was held in the Hanjiang Economic Development zone. Elec-Tech said Yangzhou base project is an investment of $49 million 800 thousand, registered capital of $25 million, 150 acres of land, mainly for the LED project; the two phase of the project to increase investment of $50 million, registered capital of 20 million dollars, increased 143.5 acres of land, mainly for the MOCVD project.

In May 17th, the newspaper reporter called Elec-Tech Yangzhou project department responsible person, Mr. Zhao said: "I was responsible for sales, now is not responsible for the project construction, the project is still not clear what time to start. If you want a LED product, I can sell it to you. The product is from Guangdong. "

In January this year, Dalian local media said BDO Optoelectronics Technology and technology BDO wind power project in Dalian Development Zone signing ceremony was held in Dalian. The reporter called the Dalian Development Zone Economic and Trade Bureau, the Bureau staff also said. "

In this regard, Dunfee does not deny that Yangzhou and Dalian project has not yet started, we can not blossom everywhere, it is sure to cycle staggered. "

According to the May 11th "Zhongshan daily" said Elec-Tech be in Zhongshan production of lithium iron battery for environmental protection, the introduction of Tsinghua University technology into the new energy industry, development and production of a new generation of environmentally friendly clean energy lithium iron battery, and intends to landing cooperation between Zhongshan and automobile enterprises to promote the project.

"I can only say that what you see in some of the local newspapers is not necessarily true, and that everything is subject to the board of directors' announcement, because all foreign investment must be decided by the board of directors. Dunfee said.

Not optimistic about the LED industry

The country's determination to implement energy-saving emission reduction as well as the trend of low-carbon economy, so that a lot of LED companies to see the hope, and then have staking.

Large shareholders to put on a gorgeous coat Elec-Tech is "the emperor's new clothes", also need time to test, but the future of LED industry is not imagined so optimistic.

A quarterly show Elec-Tech, net profit of only 9 million yuan, though