Sanan Optoelectronics LED chip business three major customers are actually affiliates

There are many problems in the street lamp business. What about the chip business of Sanan Optoelectronics? Sanan Optoelectronics' revenue from chip sales in 2011 was 1.02 billion yuan. The sub-item data was not disclosed in the 2012 annual report.

In December 2012, the reporter interviewed nearly 20 domestic LED packaging and application mainstream enterprises, and investigated the downstream use of Sanan Optoelectronics chips. The results were surprising. As an LED chip leader, Sanan Optoelectronics said that most of the packaging companies in the interview said that they rarely purchase the chips they produce.

The mainstream packaging companies purchase not many Sanan optoelectronic chips, so who is the Sanan photoelectric LED chip sold to?

The reporter's investigation found that in recent years, the top three customers of Sanan Optoelectronics chip business are actually affiliated companies, while the company announcement stated that the "relationship with the company" is "non-related parties."

Among the top five customers of Sanan Optoelectronics, in addition to the Wuhu Housing Construction Committee, the Huainan City Construction Committee and the newly acquired Quanzhou and Anxi Guotou, which have been purchased by local government street lamps, the three companies with the highest frequency are Shenzhen Anpu Optoelectronics Technology Co., Ltd. (hereinafter referred to as "Amp Optoelectronics"), Shenzhen Tiandian Optoelectronics Technology Co., Ltd. (hereinafter referred to as "Tiandian Optoelectronics") and Cinda Optoelectronics.

The reporter found that some of the shareholders of the three companies lived in Xiamen. Most of them were Anxi fellows of Lin Xiucheng, the chairman of Sanan Optoelectronics, and they had intricate relationships with Sanan Optoelectronics.

Cinda Optoelectronics is a joint venture of Sanan Group

Since 2009, Cinda Optoelectronics has been ranked as the largest customer of Sanan Optoelectronics chip business for a long time.

Cinda Optoelectronics was incorporated in Xiamen in October 2007 and was established by Xiamen Xinda and Xiamen Langxing Optoelectronics Co., Ltd. (hereinafter referred to as “Langxing Optoelectronics”). The shareholders of Langxing Optoelectronics are Chen Yunan and Li Shangwu.

According to the information obtained by the reporter, in 2007, members of Cinda Optoelectronics Board were Zhou Kunshan, Lin Zhiqiang, Chen Shuzhao, Du Shaohua, Liao Mingyue; Zhou Kunshan was the chairman of the company and Lin Zhiqiang was the company manager. Lin Zhiqiang is the son of San Xia Optoelectronics' actual controller Lin Xiucheng and is now the general manager of Sanan Optoelectronics.

Information from a shareholder meeting of Cinda Optoelectronics in January 2008 showed that all shareholders of Xiamen Xinda and Langxing Optoelectronics attended the meeting, excluding Lin Zhiqiang, Liao Mingyue and Chen Shuzhao as directors, and by-election Liu Hong, Sun Huizhong and Fan Dan as directors Liu Hong is the general manager. Since then, two shareholders of Langxing Optoelectronics Chen Yunan and Li Shangwu have not appeared again. Lin Zhiqiang, who has ceased to be the general manager since January 2008, signed the signature "Lin Zhiqiang" in the column of the person in charge of the financial statements in December 2008.

According to media reports, Langxing Optoelectronics is a wholly-owned subsidiary of Sanan Optoelectronics' major shareholder Fujian Sanan Group Co., Ltd. (hereinafter referred to as “Sanan Group”), formerly Sanan Electronic Application Division, which was independently registered after business development.

The reporter's field investigation found that Langxing Optoelectronics and Sanan Optoelectronics are only one road apart. In the courtyard where Langxing Optoelectronics is located, there are some office areas of Anmei Optoelectronics and Sanan Group. According to an employee of the Sanan Group in the hospital, Langxing Optoelectronics is the Sanan Group; another former employee who worked in Sanan Optoelectronics and Langxing Optoelectronics also said that Sanan Group actually owns Langxing Optoelectronics. .

According to the latest employee list of the Sanan Group received by the reporter, Li Shangwu is the general manager of the Sanan Group.

One of the shareholders of Amp Optoelectronics, the financial staff of Sanan Group

Amp Optoelectronics is another major customer of Sanan Optoelectronics chip business. According to the data, there have been many changes to the shareholders of Amp Optoelectronics. In 2011, the company's founding shareholders Li Laiquan, Zhang Jinyan, and Lin Quan successively withdrew, and the two new shareholders were Huang Yuming and Wu Xianghui.

Among them, Li Laiquan, who was the largest shareholder of Amp Optoelectronics before the exit, was Anxi. The address shown on the ID card was No. 1 Datong Road, Fengcheng Town, Anxi County, and this is the seat of Anxi County Government.

The reporter obtained information from the Information Center of the Xiamen Public Security Bureau that Li Laiquan came to Xiamen in August 2010 and is still a floating population. The household registration has not moved into Xiamen. There is no property in Xiamen that is also included in its name. The reporter visited the address of Li Laiquan’s registration many times and did not find himself.

The reporter found that Li Laiquan, 49, is the second and third director of the Xiamen Anxi Economic Promotion Association. According to the staff of Xiamen Anxi Economic Promotion Association, Li Laiquan worked at Sanan Group. This has been confirmed in the Sanan Group staff roster, the roster shows: Li Laiquan is the staff of the Sanan Group Finance Department.

At the same time, another shareholder, Lin Quan, is a GaN chip engineer in the engineering department of Sanan Group.

Tiandian Optoelectronics Shareholders and Lin Zhiqiang are “small”

When you sing, I will be on the scene. Amp Optoelectronics will disappear from the top five customers of Sanan Optoelectronics, and Tiandian Optoelectronics will appear. In the first half of 2012, Tiandian Optoelectronics became the second largest customer of Sanan Optoelectronics LED chip business.

Tiandian Optoelectronics was established in Shenzhen in 2007 by Wan Xihong, Luo Long and Lei Yuhou, and then Wu Zhongzhu and Liu Yaode joined two natural persons (Table 6). In 2011, Tiandian Optoelectronics, which registered capital of only 9 million yuan, purchased at least 13.93 million yuan of LED chips from Sanan Optoelectronics. In the 2012 mid-year report, this figure rose to 38.24 million yuan.

Liu Yaode, Wu Zhongzhu and Lin Zhiqiang are both Anxi people and their ages are similar.

According to Liu Yaode himself, he and Lin Zhiqiang were primary school and junior high school students, and they were at the same table. More coincidentally, Liu Yaode is not only a shareholder of Tiandian Optoelectronics, but also a senior executive of Cinda Optoelectronics. Liu Yaode is a classmate of Lin Zhiqiang. Why not go to work in Sanan? According to him, several companies outside have invested in his name and cannot work at Sanan Optoelectronics.

Wu Zhongzhu’s brother revealed to reporters that Wu Zhongzhu and his wife Zhou Jinfang have worked at Sanan Optoelectronics, which is an employee of Sanan Optoelectronics.

The information provided by the reporter on the Sanan Group staff roster and the information provided by the Xiamen Public Security Bureau Information Center showed that Zhou Jinfang was the order assistant of Sanan Optoelectronics Market Management Department; Wu Zhongzhu’s inauguration unit was Fujian Sanan Group, and the employment status was staff.

Broken gold scrap profit source

Scrap sales is the third main business of Sanan Optoelectronics and an important source of profit.

The gross profit margin of Sanan Optoelectronic Materials and Scrap sales business is as high as over 90%, and the revenue growth in recent years is rapid. The financial report shows that it increased from 5.94 million yuan in 2008 to 230 million yuan in 2012. In 2012, the business contributed 26.4% of the company's main business gross profit.

In January 2013, Kunming Yinpeng Industry and Trade Co., Ltd., the main partner of its scrap sales business, was shut down by the environmental protection department of Xishan District of Kunming due to the problem of wastewater pollution.

It is understood that these wastes are mainly precious metals such as gold. Zheng Chao, general manager of another major LED chip manufacturer in China, told reporters that gold scrap is mainly produced in the “evaporation” of LED chips. Enterprises usually use “evaporation” technology to “stick” gold to the chip, but In the evaporating body, gold will fly around, and the gold that does not fall on the chip will become scrap.

Zheng Tiemin added that this part of the gold waste accounts for the vast majority of the entire production line. “The bottom of the furnace needs to be cleaned every 10 days or so. The recovered gold is generally outsourced to a specialized recycling company.” According to its experience, each 1600 KK chip is produced. It takes about 10 kilograms of gold to be consumed. Due to different production processes and specifications, the difference in gold consumption may be about 1 time, about 5-10 kilograms. For every 10 kilograms of gold consumed, about 8 kilograms can be recycled and recycled after purification.

This means that Sanan Optoelectronics will sell the gold for recycling and then re-purchase gold. This practice is rare in the industry.

Another LED industry listed company, the company, has previously revealed that most of the company's gold scrap has been recycled, but there are no specific statistics. In 2011, about 99% of the operating revenue of 137 million yuan of dry photoelectricity was the revenue of chips and epitaxial wafers.

This part of the business, after Kunming Yinpeng Industry and Trade was shut down, it is not known how Sanan Optoelectronics responded.

(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.)

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