An optical three top big shake-up, LED stock crisis continueson November 17th, 2011 at 2:05 AM
Overcapacity in the industry led the context of the crisis spread to the stock sprint all the way to the domestic leading enterprises in three optical LED.
Recently, three optical announcement that, due to personal reasons, resigned as director of applications for Chuang Linke, general manager and board committees related duties. Company decided to act as general manager by the Lin Zhiqiang, Lin Zhiqiang replaced by the relevant Board committees duties.
Interestingly, the identity of Forestry Chuang An optical three is not only simple, general manager, he was three optical chairman Linxiu Cheng’s son, also increased in recent years, three optical myth one of the founders. The break took over the location of Forestry Lin Zhiqiang, but Linxiu Cheng’s son, after Ren Sanan Optoelectronics vice president.
“Now three optical and Wuhu in Tianjin MOCVD equipment (LED wafer production equipment) have been put into production, but sales are sluggish, the formation of a large inventory.” Xiamen LED industry an insider yesterday, “First Financial Daily” after Lin Zhiqiang mainly in charge of the three optical photovoltaic business, and Linke break in charge of the LED manufacturers, current stock crisis or three optical staged a “son abdicated, his son would take” scene of the reasons.
In this regard, An optical three areas there is no response.
An optical three in the third quarter results, the first three quarters of its revenue 11.69 billion yuan, up 92%, net profit of 585 million yuan, an increase of 112%. The reporter discovered that three optical stocks also soared all the way to the fourth quarter, three optical inventory only 3.1 billion in the first quarter of this year has grown to 4.81 million in the second quarter increased again to 6.7 million, the third quarter surged to 933 million yuan more.
An optical three years, according to which earnings figure is calculated, the first three quarters this year, three optical inventory turnover rate (number of inventory turns) 1.12, and 2.27 for the same period last year. Inventory turnover ratio reflects the efficiency of enterprise sales and inventory efficiency. Inventory turnover fell, illustrating the slow inventory turnover, the company’s sales reduced ability to take up working capital will be in the amount of inventory on more.
These figures also indicates that, at least three optical an inventory crisis worries. A three optical sources within the last year, customers are lined up waiting for the three optical shipments this year is the three optical in other customer orders.
“An optical three LED chips shipped mainly to small and medium-power-based, but the domestic small and medium-power LED chip production has a serious surplus.” Career Chinese company, a middle that since the end of the domestic LED industry market expectations of high domestic LED , led to the LED chip manufacturers blind production. This year, the production of small and medium-power LED chips can do less than 50% of the lamps, and LED lamps can really sell to the hands of users, but less than 50%.
In addition, Samsung’s LED-backlit TV earlier this year on expectations too high, the formation of a large number of LED chip stocks, this is now part of Samsung’s LED-backlit stock sales to China, adding to overcapacity in the domestic LED chip plight.
Expansion of risk
In the domestic LED industry overcapacity, the three optical of MOCVD equipment is constantly put into production. This year, Tianjin has been successfully put into operation three optical, three optical Anhui has 30 sets of MOCVD officially put into operation.
“MOCVD equipment already in operation generally can not stop, once the MOCVD stop again to resume production at least three or four months of the commissioning period.” An LED industry professionals that can alleviate the three optical current crisis is in stock around LED lighting in exchange for investment of municipal projects.
In late September, three optical Anxi County, Fujian Province, signed a contract with the photoelectric industrial park, Quanzhou, Fujian investment of 2.5 billion. As a return on investment, An optical three state-owned assets from the Urban Construction Investment Co., Ltd. Quanzhou Anxi County, and State-owned Assets Investment Co., Ltd. won 16 million LED lamps and other lighting products, orders, contracts to implement a 4-year limit.
Earlier, An optical three in the same way to obtain $ 600 million in Wuhu LED spotlights orders received 450 million yuan in Huainan City LED tube lamps orders. An optical three semi-annual report also shows that the first half of this year from Wuhu and Huainan municipal lighting sales revenue of 182 million yuan, accounting for LED applications up to 97% the proportion of total revenue, accounting for three optical proportion of total revenue has reached 25%.
There are concerns about the industry, I do not know An optical three orders of government subsidies and local business growth and create the good old days how long, from the present situation, if the three optical inventory can not be effectively resolved the crisis, its future business will be significant impact and may even run out of cash shortage problems.
An optical three announcements, in April this year three optical decision to not target specific public offering funds raised 8 billion yuan investment in Anhui three optical applications such as two industrial projects, in early September, the total funds to be raised has been 80 billion, down $ 6.3 billion. However, the additional approval of the program is still being.