Heertai test LED lighting insolvent wall equity transfer of 0 yuan subsidiary

In April 24th, Shenzhen heertai intelligent control of Limited by Share Ltd (hereinafter referred to as the "Thai") released a quarterly in 2017, 2017 1~3 month operating income 400 million yuan, an increase of 43.76%, the electronics manufacturing industry average revenue growth rate of 24.46%; attributable to shareholders of listed companies net profit of 36 million 889 thousand and 300 yuan, an increase of 49.77%.

However, although the performance of growth, but the Thai water 6 years LED lighting business has encountered difficulties. In early April 8th, the Thai announcement said, decided to 0 yuan price to a natural person Qiu Guimei transfer subsidiary heertai lighting 60% stake, after the transfer, the company only holds 10% stake in Thai lighting.

"Chinese business newspaper" reporter noted that since its inception in 2011, the Thai lighting has been at a loss. At present, its net assets of -1702.35 million, has been in a state of insolvency. But the Thai company said in response to reporters, the company is currently in a quiet period, they will not easily transfer issues related to the Thai lighting.

Reporters learned that in the crashed out of the LED lighting business, and Thailand began in the field of intelligent controller frequently layout, has built a number of investment and fund-raising project. But its original plan is scheduled to start in September 2015, completed by the end of 2016, the two phase of the project, due to the suspension of the construction and extension.

Test the water LED six years dismal performance

Enter the LED market after six years, the Thai began to opt out.

In April 8th, the Thai announcement, to decide the price of 0 yuan to a natural person Qiu Guimei transfer subsidiary heertai lighting 60% stake, after the transfer of the company only holds 10% stake in Thai lighting.

As early as May 2011, when the LED value and the Thai industry huge market scale and broad market prospects, the use of raised funds invested in a wholly owned subsidiary of the Thai lighting, the registered capital of 10 million yuan. Announcement shows that the Thai lighting will be based on the high-end market, high-end customers, high-end products, the company based on the original intelligent controller applications, open up new business growth point.

At that time, the layout of the key is the implementation of the "modern Thai lighting LED lighting products research and development and industrialization project". According to the investment plan, the project total investment of 100 million yuan, focusing on LED modern lighting products for R & D direction, the ultimate realization of modern lighting products LED industrial management. Heertai plans invested 10 million yuan in advance, the remaining 90 million yuan will be based on the development and operation of the company, investment gradually before December 31, 2013.

However, the Thai lighting not to follow the inputs, and after two consecutive transfer of equity, "LED modern lighting product development and industrialization project" of the more uncertain prospects.

Before the transfer, it has sold part of the Thai lighting business equity. In May 2015, the Thai and Dong Xiaoyong 14 individuals signed the equity transfer agreement, will be a wholly owned subsidiary of the Thai lighting company holds 30% of the equity transfer price of 3 million yuan to the natural person, company to sell shares after the Thai lighting stake from 100% to 70%.

Heertai chairman Liu Jianwei earlier in an interview once confident: "intelligent control industry company is a fully competitive industry, in the field of LED lighting, we will as in the past, hope that by virtue of its own strength in the industry to become a respected" regular army "and leader." However, over the past 6 years, the Thai lighting to produce transcripts rather bleak.

Since its establishment, the Thai lighting has been at a loss. The data in recent 3 years, 2014, 2015, 2016 and the Thai lighting annual revenues were 26 million 930 thousand yuan, 44 million 980 thousand yuan, 32 million 80 thousand yuan, while net profit for 3 years but were a loss of 5 million 20 thousand yuan, 6 million 340 thousand yuan, 1 million 530 thousand yuan. By the end of December 31, 2016, the Thai lighting assets amounted to 25 million 852 thousand and 100 yuan, total liabilities of 42 million 875 thousand and 600 yuan, net assets of -1702.35 million yuan, has been in a situation of insolvency, the transfer of 0 yuan seems to be upset.

The reason for the continued loss of lighting and the Thai, Thai in silent period in on the grounds, to the reporter failed to respond on related issues.

However, from the current state of development of domestic LED market, the transfer of the Thai lighting business, perhaps some act with undue haste.

According to the Institute of LED Institute of statistics, more than 75% of the world's LED application products focused on China's production, in 2016 China's LED indoor lighting output value of 223 billion 100 million yuan, an increase of 32.1%. On the one hand, the domestic LED industry in the price war vortex, small and medium-sized enterprises reshuffle; but on the other hand, the current LED industry is also accelerating the process of segmentation, intelligent lighting, automotive lighting, industrial lighting and other fields still have good market prospects. Heertai intelligent controller itself as a production enterprise, can rely on its own intelligent control technology, a breakthrough in this segment in the field of intelligent lighting.

Raised investment projects postponed

With the LED business stagnant compared heertai intelligent controller industry in the past 3 years the development of rapid expansion.

Heertai display data according to the annual report in 2016, 2016, and Thailand to achieve revenue 1 billion 346 million yuan, net profit of 120 million yuan, an increase of 21.21% and 59.66% respectively, the intelligent automobile electronic controller, intelligent controller of electric tools products rapid income growth year-on-year growth of 85%, 47%, the traditional home appliances intelligent controller has maintained steady growth, annual revenue growth of 14.14%.

Perhaps fancy the development prospects of intelligent controller, as early as 2016 1