Text / Senior Engineer LED Industry Research Institute senior analyst Ye Xiaoli
On July 11, the China Securities Regulatory Commission announced that the IPO initial application of Shenzhen Lianjian Optoelectronics Co., Ltd. had been first reviewed by the CSRC and was scheduled to be reviewed on July 15.
Listing has clearly become the most important channel for LED companies to expand their scale and accelerate their development. It is also a new goal for more enterprises to go to the capital market to ring the market. And Lianjian Optoelectronics will increase its growth through IPO financing.
Gross profit margin fell year-on-year
From the prospectus, Shenzhen Lianjian Optoelectronics Co., Ltd. is a system solution provider for mid-to-high-end LED full color display applications. From 2008 to 2010, the company's revenue was 184 million yuan, 255 million yuan and 350 million yuan respectively, and net profit was 21.78 million yuan, 36.17 million yuan and 40.42 million yuan respectively.
However, during the reporting period, the company's consolidated gross profit and main gross profit margin were unstable. From 2009 to 2010, the company's comprehensive gross profit margin and main gross profit margin showed a year-on-year decline. See Table 1
As can be seen from the table, in 2009-2010, the consolidated gross profit margin and gross profit margin of the main business decreased by 0.58% year-on-year; 1.28%.
Mainly due to the increase in costs caused by the increase in raw materials, the gross profit margin has declined. Inflationary pressures remain severe this year, and the company's gross margin is still expected to continue to decline.
Large-scale operation investment, the company's comprehensive expenses have greatly increased
The costs of Lianguang Optoelectronics in 2009 and 2010 are shown in Table 2:
Gaogong LED Industry Research Institute believes that the expansion of Lianjian Optoelectronics' business scale is accompanied by an excessive increase in financial risks. If the expansion of business scale cannot quickly realize the scale economy of enterprises, it will not only weaken the competitiveness of enterprises, but even fall into financial Dilemma.
New fundraising projects have big hidden concerns
The fundraising company intends to publicly issue 18.4 million ordinary shares of RMB to the public, accounting for 25.01% of the total issued share capital, all of which are invested in the following projects (see Table 3).
![]()
However, the company's investment in LED application product industrialization project construction period is two years; LED innovation technology research and development center project construction period is one year. Excessive product investment and technology research and development are greatly detrimental to the company's future earnings.
On July 11, the China Securities Regulatory Commission announced that the IPO initial application of Shenzhen Lianjian Optoelectronics Co., Ltd. had been first reviewed by the CSRC and was scheduled to be reviewed on July 15.
Listing has clearly become the most important channel for LED companies to expand their scale and accelerate their development. It is also a new goal for more enterprises to go to the capital market to ring the market. And Lianjian Optoelectronics will increase its growth through IPO financing.
Gross profit margin fell year-on-year
From the prospectus, Shenzhen Lianjian Optoelectronics Co., Ltd. is a system solution provider for mid-to-high-end LED full color display applications. From 2008 to 2010, the company's revenue was 184 million yuan, 255 million yuan and 350 million yuan respectively, and net profit was 21.78 million yuan, 36.17 million yuan and 40.42 million yuan respectively.
However, during the reporting period, the company's consolidated gross profit and main gross profit margin were unstable. From 2009 to 2010, the company's comprehensive gross profit margin and main gross profit margin showed a year-on-year decline. See Table 1
Table 1: Trends in the consolidated gross profit margin and main gross profit margin of Lianjian Optoelectronics
As can be seen from the table, in 2009-2010, the consolidated gross profit margin and gross profit margin of the main business decreased by 0.58% year-on-year; 1.28%.
Mainly due to the increase in costs caused by the increase in raw materials, the gross profit margin has declined. Inflationary pressures remain severe this year, and the company's gross margin is still expected to continue to decline.
Large-scale operation investment, the company's comprehensive expenses have greatly increased
The costs of Lianguang Optoelectronics in 2009 and 2010 are shown in Table 2:
Gaogong LED Industry Research Institute believes that the expansion of Lianjian Optoelectronics' business scale is accompanied by an excessive increase in financial risks. If the expansion of business scale cannot quickly realize the scale economy of enterprises, it will not only weaken the competitiveness of enterprises, but even fall into financial Dilemma.
New fundraising projects have big hidden concerns
The fundraising company intends to publicly issue 18.4 million ordinary shares of RMB to the public, accounting for 25.01% of the total issued share capital, all of which are invested in the following projects (see Table 3).
See Table 3: Lianjian Optoelectronics Investment Project
Among the above projects, the total investment of LED application product industrialization project was RMB 145,350,100. As of the end of September 2010, the company has used self-raised funds to invest RMB 45,524,400. This part of the investment company will not use the raised funds for replacement. After the funds to be raised are in place, the company will invest 149,248,700 yuan in Huizhou Jianhe for the project construction, and preferentially replace the project investment from the company from October 2010 to the current public offering of shares. For the LED innovation technology R&D center project, the company plans to invest all of it with raised funds.However, the company's investment in LED application product industrialization project construction period is two years; LED innovation technology research and development center project construction period is one year. Excessive product investment and technology research and development are greatly detrimental to the company's future earnings.
Authentic AIVONO Aim Pro Disposable Vape Pen E Cigarette Device With 1000mAh Battery 6.5ml Pod 1500 Puffs Vaporizer Kit
Specifications Capacity: 1000mAh
Capacity: 6.5ml
Puffs: 1500 est
Level: 5%
Package: 1pc a box, 10pcs a display box
Note: Purchase of E-Cigarette and accessories by the underaged is banned
If you need more detail pictures, please feel free to contact us!
Welcome your label logo OEM customization!
Aivono,disposablevape,ecigarette,aivono aim stick.
Hongkong Onice Limited , https://www.ousibangvape.com