A few days ago, three days ago, Sanan Optoelectronics said in an interview with reporters: "As of the third quarter of last year, the reason why the company's profit growth did not grow faster than the main business is that the current government subsidies decreased compared with the previous period." However, it is frankly From the commissioning progress of the company's Wuhu project to the full production capacity, the production capacity can be further improved, and the second phase of the Wuhu project has been reported to the CSRC and is still under review.
A few days ago, Sanan Optoelectronics said in an interview with reporters: "As of the third quarter of last year, the company's profit growth did not increase the main business growth because the current government subsidies decreased compared with the previous period." However, it is frankly, currently, from the company The production schedule of the Wuhu project will be counted, and the production capacity will be further improved until the equipment is fully produced. The second phase of the Wuhu project has been reported to the CSRC and is still under review.
However, while its active capacity expansion, the LED industry in which the company is located has encountered a cold winter, and it is doubtful whether the future production capacity can be digested. Since the listing in 2008, the company has continued to raise funds for expansion.
Low-price strategy leads to a decline in gross profit margin
In 2010, Sanan Optoelectronics' Wuhu project construction plan was announced at the first place, which attracted the pursuit of the capital market. In the one month from the end of 2009 to the beginning of 2010, Sanan Opto's share price doubled.
According to the plan, the total investment of the project is about 12 billion yuan, of which 200 sets of MOCVD equipment (LED epitaxial wafer production equipment) with world advanced level are purchased. The project is implemented in phases, with a phase of investment of 6 billion yuan, of which 100 units of MOCVD equipment are purchased; The total construction period of the project is 4 years, and we strive to complete the project construction in 3 years.
This is based on the market's good expectations for LED projects. However, in 2011, due to the continued downturn in the global economy and the uneven development of the LED industry chain, LED market demand slowed down.
With the gradual commissioning of the Wuhu project of Sanan Optoelectronics, the market competition has become increasingly fierce. Although the current domestic labor costs are relatively cheap, Sanan Optoelectronics' products are still competitive in the market, but its gross profit margin decline is an indisputable fact.
It is reported that since last year, Sanan Optoelectronics has continuously accelerated the production of MOCVD at the Wuhu plant, and has been recognized by downstream packaging manufacturers with aggressive low-cost strategies.
Industry insiders told reporters that the listed companies in China are basically using Sanan Optoelectronics products. The market is mainly concentrated in the Pearl River Delta and the Yangtze River Delta.
However, with the low price strategy, the company's gross profit margin has declined. Sanan Optoelectronics' 2011 annual report shows that the gross profit margin of the company's leading product chip sales has dropped sharply from 46.26% in 2010 to 26.15% in 2011.
In addition, the company's other business high-light concentrating solar business business losses in 2012, which is one of the reasons for the decline in gross profit margin in 2012. A related person from Sanan Optoelectronics said that in 2013, the company will strive to break even this business, which will also increase the gross profit margin of the entire product to a certain extent.
Capacity expansion encounters industry winter
"At present, the Wuhu project has already produced about 90 units of production capacity." The Sanan Optoelectronics said that with the further increase in production capacity in 2013 and the full production of the Wuhu project, capacity is expected to increase further.
Since the listing of Sanan Optoelectronics in 2008, 19 Tianjin projects and 22 MOCVD equipments have been put into production. In 2010, the Wuhu project launched a project of 12 billion yuan. The first phase of 103 units was gradually put into use. At present, the company has a total of 144 MOCVD. Equipment, production capacity is gradually expanding. Sanan Optoelectronics said that the current gross profit margin of the company's LED products is 20% to 30%.
The industry said that "the high-margin era of the LED chip business has passed, which means the end of the industry reshuffle, and the competitive landscape tends to be stable." Yin Yan-Tech believes that the future does not rule out the possibility of the company using its own funds to increase 10-20 MOCVD equipment. .
However, in recent years, the domestic investment boom in the LED industry has caused LED industry, such as wind power and photovoltaic industry, to have a serious overcapacity. As a result, the price of LED upstream and downstream industry chains has fallen sharply in 2011. In the current global LED market downturn, upstream chip companies are faced with problems such as repeated fluctuations in raw material prices, high operating costs, and patent barriers in overseas markets.
Frequent financing after backdoor listing
In order to expand production capacity, Sanan Optoelectronics has frequently raised financing since its listing in 2008.
In February 2009, Sanan Optoelectronics announced that it will not issue more than 50 million shares in non-public offerings and raise no more than 800 million yuan for the LED chip industrialization project of Tianjin Sanan Optoelectronics.
On March 16, 2010, Sanan Optoelectronics announced the issuance of a private placement plan. It plans to issue no more than 53 million shares, and the net proceeds will not exceed 2.98 billion yuan for the implementation of the Wuhu Optoelectronics Industrialization (Phase I) project. The total investment of the project is 6.662 billion yuan.
In 2011, Sanan Optoelectronics announced the third time that it plans to issue no more than 210 million shares, and the total amount of funds raised will not exceed 8 billion yuan, all of which are used in Wuhu Optoelectronics Industrialization (Phase II) project and LED application products of Anhui Sanan Optoelectronics Co., Ltd. For the industrialization project, the total investment of the two projects is about 9.125 billion yuan. The issuance plan was approved by the shareholders meeting in May 2011.
The company has repeatedly announced major investment and “high-transfer†programs to help its annual refinancing to be implemented smoothly.
However, the company's 2011 financing plan has not been passed. On December 5 last year, Sanan Optoelectronics announced that several executives collectively increased the company's stock by about 620,000 shares. Some insiders said that the company’s executives are escorting the planned increase.
On April 18 last year, Sanan Optoelectronics announced that the resolution for the public offering will be extended for one year. Whether this extension can wait for the market to improve is not known.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
On April 18 last year, Sanan Optoelectronics announced that the resolution for the public offering will be extended for one year. Whether this extension can wait for the market to improve is not known. An Optoelectronics related person said in an interview with reporters: "As of the third quarter of last year, the reason why the company's profit growth did not grow faster than the main business was that the current government subsidies decreased compared with the previous period." However, it is frank that it is currently in operation from the company's Wuhu project. According to the progress, the production capacity can be further improved until the equipment is fully produced, and the second phase of the Wuhu project has been reported to the CSRC and is still under examination and approval.
However, while its active capacity expansion, the LED industry in which the company is located has encountered a cold winter, and it is doubtful whether the future production capacity can be digested. Since the listing in 2008, the company has continued to raise funds for expansion.
Low-price strategy leads to a decline in gross profit margin
In 2010, Sanan Optoelectronics' Wuhu project construction plan was announced at the first place, which attracted the pursuit of the capital market. In the one month from the end of 2009 to the beginning of 2010, Sanan Opto's share price doubled.
According to the plan, the total investment of the project is about 12 billion yuan, of which 200 sets of MOCVD equipment (LED epitaxial wafer production equipment) with world advanced level are purchased. The project is implemented in phases, with a phase of investment of 6 billion yuan, of which 100 units of MOCVD equipment are purchased; The total construction period of the project is 4 years, and we strive to complete the project construction in 3 years.
This is based on the market's good expectations for LED projects. However, in 2011, due to the continued downturn in the global economy and the uneven development of the LED industry chain, LED market demand slowed down.
With the gradual commissioning of the Wuhu project of Sanan Optoelectronics, the market competition has become increasingly fierce. Although the current domestic labor costs are relatively cheap, Sanan Optoelectronics' products are still competitive in the market, but its gross profit margin decline is an indisputable fact.
It is reported that since last year, Sanan Optoelectronics has continuously accelerated the production of MOCVD at the Wuhu plant, and has been recognized by downstream packaging manufacturers with aggressive low-cost strategies.
Industry insiders told reporters that the listed companies in China are basically using Sanan Optoelectronics products. The market is mainly concentrated in the Pearl River Delta and the Yangtze River Delta.
However, with the low price strategy, the company's gross profit margin has declined. Sanan Optoelectronics' 2011 annual report shows that the gross profit margin of the company's leading product chip sales has dropped sharply from 46.26% in 2010 to 26.15% in 2011.
In addition, the company's other business high-light concentrating solar business business losses in 2012, which is one of the reasons for the decline in gross profit margin in 2012. A related person from Sanan Optoelectronics said that in 2013, the company will strive to break even this business, which will also increase the gross profit margin of the entire product to a certain extent.
Capacity expansion encounters industry winter
"At present, the Wuhu project has already produced about 90 units of production capacity." The Sanan Optoelectronics said that with the further increase in production capacity in 2013 and the full production of the Wuhu project, capacity is expected to increase further.
Since the listing of Sanan Optoelectronics in 2008, 19 Tianjin projects and 22 MOCVD equipments have been put into production. In 2010, the Wuhu project launched a project of 12 billion yuan. The first phase of 103 units was gradually put into use. At present, the company has a total of 144 MOCVD. Equipment, production capacity is gradually expanding. Sanan Optoelectronics said that the current gross profit margin of the company's LED products is 20% to 30%.
The industry said that "the high-margin era of the LED chip business has passed, which means the end of the industry reshuffle, and the competitive landscape tends to be stable." Yin Yan-Tech believes that the future does not rule out the possibility of the company using its own funds to increase 10-20 MOCVD equipment. .
However, in recent years, the domestic investment boom in the LED industry has caused LED industry, such as wind power and photovoltaic industry, to have a serious overcapacity. As a result, the price of LED upstream and downstream industry chains has fallen sharply in 2011. In the current global LED market downturn, upstream chip companies are faced with problems such as repeated fluctuations in raw material prices, high operating costs, and patent barriers in overseas markets.
Frequent financing after backdoor listing
In order to expand production capacity, Sanan Optoelectronics has frequently raised financing since its listing in 2008.
In February 2009, Sanan Optoelectronics announced that it will not issue more than 50 million shares in non-public offerings and raise no more than 800 million yuan for the LED chip industrialization project of Tianjin Sanan Optoelectronics.
On March 16, 2010, Sanan Optoelectronics announced the issuance of a private placement plan. It plans to issue no more than 53 million shares, and the net proceeds will not exceed 2.98 billion yuan for the implementation of the Wuhu Optoelectronics Industrialization (Phase I) project. The total investment of the project is 6.662 billion yuan.
In 2011, Sanan Optoelectronics announced the third time that it plans to issue no more than 210 million shares, and the total amount of funds raised will not exceed 8 billion yuan, all of which are used in Wuhu Optoelectronics Industrialization (Phase II) project and LED application products of Anhui Sanan Optoelectronics Co., Ltd. For the industrialization project, the total investment of the two projects is about 9.125 billion yuan. The issuance plan was approved by the shareholders meeting in May 2011.
The company has repeatedly announced major investment and “high-transfer†programs to help its annual refinancing to be implemented smoothly.
However, the company's 2011 financing plan has not been passed. On December 5 last year, Sanan Optoelectronics announced that several executives collectively increased the company's stock by about 620,000 shares. Some insiders said that the company’s executives are escorting the planned increase.
On April 18 last year, Sanan Optoelectronics announced that the resolution for the public offering will be extended for one year. Whether this extension can wait for the market to improve is not known.
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