Investigation or tip of the iceberg

FSL (13.29,0.00,0.00%) board of directors infighting derived from LED battle?

Recently, with FSL (000541) of the two senior executives receive confirmation of Guangzhou Securities Regulatory Commission to investigate the issue, the market for FSL's performance even more attention. Especially on the day of the announcement of the investigation, that is, in August 13th, FSL's share price was once limit.

However, known as the "energy-saving lamp king", "cash dividend cows" FSL has always been the darling of investors, and FSL in new energy lithium into the army, but increased its weight in the market. Today, the executives involved in insider trading scandal, can not help but let the market for a heated discussion.

Internal operation is still the former chairman of the board?

Public information, the current company executives are held in this year after the general meeting of shareholders of the company, that is, in May 27, 2010 formally took office. As the new chairman Zhuang Jianyi, chairman of Hongkong Chang Chang lighting equipment Co., Ltd., and Yu Chang lighting equipment Co., Ltd. is the second largest shareholder of FSL.

In fact, the internal operation, or the former chairman Zhong Xin said. "A source close to the company told the" Securities Daily "the reporter said, according to him, Zhongxin once said in the board meeting may be retired, and the company in general meeting of shareholders, and a researcher at Huaxia Securities, has proposed that" let the old clock to continue to believe the chairman". However, after the board of directors, Zhong Xincai did not retire, or served as general manager of the company.

"The company is involved in a foreign capital, and the largest shareholder is the German OSRAM. "The source said," and FSL's LED technology is to prepare for the introduction of OSRAM technology, however, although OSRAM is the major shareholder of FSL, but FSL has not given this technology. "

Moreover, according to the source said that at present, there are few well-known companies in the world to master the technology of LED, including OSRAM. At that time, chairman Zhong Xincai also said, 'no, we want other ways'. "

For the LED technology competition seems to become a major shareholder and the company's delicate relationship between.

Major shareholders to protect the technology to find new technologies

In August 3, 2010, FSL announced that the company in July 31, 2010 reached a preliminary cooperation agreement with the United States Prius company, cooperation in production and sales of high lumen LED bulb, lamp. This one, by providing the Prius patented high lumen LED light source module, cooling and drive technical support, combined with the company's LED bulb, lamp series products production technology, R & D cooperation LED application products. In some sales conditions, using the products supplied to FSL Prius to provide solutions in the Chinese.

It is reported that the company entered the LED industry has been planning for more than a year. The company began to actively seek cooperation with domestic and foreign LED epitaxy, chip manufacturers from the beginning of 2009, has been in contact with the country and the United States, Japan and some other LED epitaxy, chip manufacturers, will reach a hand in hand with the United States company puri.

As the controlling shareholder of OSRAM, as one of the most innovative lighting company in the world, with a number of world leading patent, has become one of the two largest lamp manufacturers in the world, why FSL also looks out for the technical support of LED? Or will it be looking for a new major shareholder?

"This is not to say that the United States would be due to OSRAM Prius holdings, not to the technology, is no way. The source said. According to his analysis, some analysts believe that the practice of FSL, "is to put the 'border' OSRAM disc break". OSRAM does not give the technology this approach is likely to want to get the final control of FSL". And all this infighting, or "let Youchang light Zhuang Jianyi to become the chairman of Yuwengdeli".

However, as the first batch of approved in 1993 in Guangdong A, B shares of listed companies, FSL's growth is obvious. The company is relatively stable, institutional investors are more willing to invest in such companies. Because the company's main business is relatively stable, fully capable of creating a new energy industry chain, coupled with the company is also actively developing the main industry, to promote new LED technology, the company's development should be good. "The source said.

It is reported that after the filing of the announcement, the second trading day August 16th, FSL closed at $13.20, up slightly by 1.53%.