Policy with investment bubble LED lighting industry to re launch the listing tide

2011 after the collapse of the tide, LED lighting industry began to integrate shuffle period, not willing to fall in the last few minutes before dawn, many LED companies have sought listing financing. Although the industry to conceal the quality defects, but frequently issued dividend policy gradually, LED lighting to usher in a new round of listing tide. It is reported that since November 4th last year, the NDRC and other departments announced the elimination of incandescent roadmap since China, such as open LED street lamp procurement tender, semiconductor lighting in 12th Five-Year and other relevant favorable policies frequent. Recently, the State Council executive meeting to discuss the adoption of the national basic public service system, 12th Five-Year plan, which arranged 2 billion 200 million yuan subsidy funds to promote energy-saving lamps and LED lights. Driven by the dividend policy, the capital market to extend the olive branch to the LED lighting industry. The 1 quarter of 2012, the official launch of the LED, the 2 will be off, which involves LED lighting companies have a total of 5. However, the hot money caused by the bubble effect is also followed, LED industry was completely fried up, it is difficult to quell the overheated investment in commercial real estate bubble. This situation is bound to accelerate the integration of industry, director of the Institute of high LED Zhang Xiaofei said: LED lighting industry in 5 years there will be a battle of the three major segments of the industry will be divided." Under the policy of "listing tide" on the introduction of energy-saving lamps and LED lamps for 9 days before the 2 billion 200 million yuan subsidy policy in May 16th the State Council, the Ministry of science and technology of semiconductor lighting technology development "released" 12th Five-Year special "(Draft)", the period of industry reached 500 billion yuan, foster 20~30 mastered the core technology, with more independent intellectual property rights, independent brand enterprises, support 40~50's innovative and high technology enterprise, industrial base built 50 "ten city lights" pilot city and 20 strong innovation ability, distinctive. In addition to the national development and Reform Commission previously announced "Chinese out incandescent roadmap" and three ministries of the state organization of the 2012 semiconductor lighting products financial subsidies to promote the project tender policy, Everbright Securities analysts said, to the end of the first quarter, LED industry boom has to rise, backlight and lighting needs in large numbers, the visibility of orders back to two a month or so, improve the chain operating rate, leading enterprises even close to full load. With the introduction of the 12th Five-Year plan and policy subsidies continued, LED boom will rise further. Driven by the policy, the capital market to the LED lighting industry reached an olive branch. The 1 quarter of 2012, the official launch of the LED, the 2 will be off, which involves LED lighting companies have a total of 5. According to the "daily economic news" reporter statistics, 2012 5 listed companies involved in LED lighting industry, Mason technologies (002654, SZ) to raise 220 million yuan to invest in new high efficiency chip LED project and LED project green energy-saving lighting production; rectangular lighting (300301, SZ) to raise 260 million yuan for LED lighting and the lamps expansion; Jufei (300303, SZ) to raise 310 million yuan expansion LED backlight device and lighting device LED; HC semitek (300323, SZ) intends to raise 900 million yuan to build third LED epitaxial chip project; Riyadh (300296, SZ) to raise 280 million yuan for the application of LED Industrial park construction project. The importance of listing and financing will soon appear one after another. Shenzhen leaguer venture Qingyuan Cci Capital Ltd President Liu Jianyun had said in an interview, "after the listing of the company will usually extend to the upstream and downstream industries to bring pressure on non listed enterprises, at the same time as the LED industry has the characteristics of capital intensive enterprises, the success of the IPO has more advantages, so as to accelerate the industry consolidation." Consultant senior researcher He Zaihua told the "daily economic news" reporter the interview said, "listing tide to raise more funding for the LED industry advantage, contrarian expansion in the industry downturn, the implementation of vertical integration strategy, upstream and downstream to get through the whole industry chain. This can not only play the synergy of the industrial chain, reduce operating costs, improve economic efficiency, but also can improve the industry concentration, expand their market size, occupy a place in the field of LED." "The tide is already listed external listed LED company to extend to the upstream and downstream industry chain is forcing the unlisted companies seeking financing channels, the internal cause is the catalysis in the past few years of national policy, the LED industry is booming, the beautiful performance of the company. In the future LED industry overcapacity may occur, profit growth in the case of decline, is currently a good time to market LED companies." He added. In addition, the LED listed companies behind the domestic and foreign manufacturers LED long-term optimistic about the domestic LED lighting industry, thereby speeding up the pace of mergers and acquisitions in the industry to accelerate the adjustment of the whole industry chain layout to achieve integration of resources. He Zaihua said: "from the already listed LED lighting enterprises listing and financing, is a broad road. First of all, to raise funds, the protection of the new investment project operation; secondly, reduce the rate of assets and liabilities, so as to reduce the financial risk; finally, with the capital market transparency standardized regulation to improve the governance structure and management system of enterprises, improve the overall quality of enterprises." However, it is understood that in 2012 has been listed on the 4 LED lighting companies share price performance is not satisfactory. Mason technologies in May 17th hit a new low since listing 15.55 yuan; Jufei 26.05 yuan of the latest closing price of a listed day high of 29 yuan is still over 10% decline; Riyadh stock has dropped from 24.98 yuan on the first day of listing