[Text / Gaogong LED Zhao Hui] The news that the registration system will be launched in March this year not only inspires companies that have not yet started the IPO process, but also has a significant impact on companies that have already completed the IPO filing process.
According to the disclosure information of the official website of the China Securities Regulatory Commission, as of January 7, 23 companies have suspended IPO review, and 7 of them have suspended the review because the issuer has requested to suspend the review. This also includes LED companies Zhejiang Shengdi Optoelectronics and Shenzhen Rejing Optoelectronics.
Brokers who do not want to disclose their names believe that the voluntary suspension of these companies may be waiting for the implementation of the registration system.
According to the data, Zhejiang Shengdi Optoelectronics has disclosed the “IPO Prospectus†on June 20, 2014, and plans to list on the main board of the Shanghai Stock Exchange. The data shows that Zhejiang Shengdi Optoelectronics' main business income in 2011-2013 was 676 million yuan, 768 million yuan and 1.186 billion yuan respectively, and the net profit was 4,195,000 yuan, 26,479,900 yuan and 45,242,900 yuan respectively.
According to the prospectus, Zhejiang Shengdi Optoelectronics' main business is mainly for the export of halogen lamps and LED lighting products, and its export destinations are mainly in developed markets such as Europe and America. The proportion of export revenue to total revenue is as high as 90%. In 2011, 2012, and 2013, the company's export sales amount was 609,356,400 yuan, 708,600,100 yuan, and 1,010,068,100 yuan, accounting for 90.39%, 92.73%, and 93.08% of the main business income of the current period. Working with major customers is the ODM model. The company's customers are mainly large-scale lighting companies and chain retailers around the world.
The halogen lamp product is one of the important products of Shengdi Optoelectronics. From 2011 to 2013, the operating income of halogen lamps was 156,390,900 yuan, 1,758,148,800 yuan and 243,403,400 yuan, accounting for 23.28%, 23.01% and 20.58% of the main business income respectively.
It is understood that Shengdi Optoelectronics originally planned to use IPO to raise funds to invest in two annual fixed assets investment projects of “28 million sets of high-efficiency energy-saving LED lighting products†and “annual output of 4 million sets of high-efficiency high-power LED fluorescent lampsâ€. After the completion of the above projects, the company will increase the production capacity of LED light sources by 26 million units, the production capacity of LED lamps by 2 million units, and the production capacity of LED fluorescent lamps by 4 million units.
Regent Optoelectronics, which also discontinued the IPO review, also disclosed its initial prospectus at the end of May 2014, and plans to list on the GEM of the Shenzhen Stock Exchange.
The data shows that Regent Optoelectronics was established in 2004 with a registered capital of 62.67 million yuan, specializing in the research and development, production and sales of LED display and lighting products. The company has a packaging division, a display division and a lighting division. The company's main products cover a full range of LED indoor and outdoor full color display, LED lighting and lighting fixtures. Among them, the display has up to eight series and more than 80 varieties.
According to the prospectus, Regent's main business income mainly includes LED full color display and LED full color display module. The high-, medium-, and low-pixel full-color display and full-color display modules constitute the main part of the main business income. From 2011 to 2013, these four types of products accounted for 89.65% of the main business income during the reporting period. 89.79% and 89.52%.
Data disclosure shows that Regent's main business income from 2011 to 2013 was 289 million yuan, 299 million yuan and 305 million yuan respectively, and net profit was 31.896 million yuan, 34.78 million yuan and 38.837 million yuan respectively.
Regent's original plan to raise funds is also focused on its main business LED package and display. It is expected to invest 134 million yuan for LED packaging and display production base construction projects, and another 37.158 million yuan for research and development base construction.
Earlier, the 18th meeting of the Standing Committee of the 12th National People's Congress voted to pass the "Decision on Authorizing the State Council to Adjust and Apply the Relevant Provisions in the Reform of the Issuance of the Stock Issuance System (Draft)", since March 1, 2016 From the date of implementation, the authorization period is two years.
The authorization decision of the National People's Congress provides a clear legal basis for promoting the reform of the stock issuance registration system. The CSRC also said that the formal adoption of this decision marks a clear legal basis for promoting the reform of the stock issuance registration system, a major progress in the construction of a basic system for the capital market, and a major measure to improve the top-level design of the capital market.
A spokesman for the Securities and Futures Commission, Deng Wei, said that it is necessary for the State Council to make relevant institutional arrangements for the reform of the registration system and issue corresponding documents. The CSRC will, in accordance with the institutional arrangements determined by the State Council, formulate the relevant departmental regulations and regulatory documents such as the Measures for the Administration of the Registration of Public Offerings of Stocks.
It is reported that the drafting of relevant rules and regulations of the CSRC is currently being carried out in an orderly manner. After all the conditions are mature, it will be open to the public for comments. Before the formal implementation of the registration system, the CSRC will continue to do a good job in the issuance of stock issuance in accordance with the requirements of the current approval system. At the same time, the CSRC will make a good plan for the transition of the issuance review work to the registration system, and make reasonable arrangements for the issuance review work to ensure the smooth connection of the issuance review work. Relevant programs will be announced to the public in a timely manner.
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