2.8 billion fundraising in Wuhu to expand production speed Sanan photoelectric betting market to pick up

A few days ago, Qinshang Optoelectronics announced that it would build 1,000 sales terminals this year. On the evening of May 27, Sanan Optoelectronics announced a plan to restart the Wuhu Optoelectronics Industrialization (Phase II) project. Not only that, on the evening of May 28, Sanan Optoelectronics also announced that it intends to make an extension in the industrial chain. Faced with the recovery of the LED lighting market, Sanan Optoelectronics accelerated its capacity expansion and tried to seize the LED market.

Speed ​​up production

On the evening of May 27, Sanan Optoelectronics issued a plan to increase the number of no more than 10 specific targets, including the Sanan Group controlled by the actual controller Lin Xiucheng, at a rate of not less than 15.82 yuan per share. The price, issued no more than 209 million shares, the total amount of fundraising does not exceed 3.3 billion yuan. Among them, no more than 2.8 billion yuan was invested in the Wuhu Optoelectronics Industrialization (Phase II) project.

As early as 2011, Sanan Optoelectronics announced the issuance plan, and plans to raise funds to invest in the Wuhu Optoelectronics Industrialization (Phase II) project. However, since then, the project has not seen progress. In March of this year, due to changes in the market environment, Sanan Optoelectronics also decided to terminate the issuance. The fundraising means that Sanan Optoelectronics will restart Wuhu Optoelectronics Industrialization (Phase II) project. In contrast, the fundraising method was changed from public issuance to private placement.

A researcher in the industry was interviewed by reporters. Compared with public issuance, there are two advantages to private placement: First, the funds raised can be realized more quickly, and related projects of Sanan Optoelectronics can be launched quickly. It is very advantageous to seize the market opportunity; secondly, the shareholders of the private placement are in line with the interests of the company. In the future, Sanan Optoelectronics' management is relatively easy, and the long-term development of the company will be relatively stable.

According to the announcement, Wuhu Optoelectronics Industrialization (Phase II) project will expand the production scale of blue and green light chips on the basis of the first phase of the project. Sanan Optoelectronics said that after the project is completed, it will produce 12.23 million pieces of LED epitaxial wafers and 25.514 billion blue and green chips. After completion and put into production, it is expected to reach 60% in the first year, 80% in the second year, and 100% in the third year.

According to the data, Sanan Optoelectronics has 141 sets of 2-inch MOCVD equipment, with an effective capacity of about 130 units, which is almost full except for a few technical transformation equipment. Guojin Securities analysts said that if this fixed-increasing plan is implemented smoothly, Sanan Optoelectronics' LED chip production capacity will double. As the Wuhu base plant is ready, some new capacity will even be expected to contribute to this year.

It is worth noting that Sanan Optoelectronics said that before the funds are raised, the company will invest in self-funded funds such as own funds and bank loans according to the actual situation of the project, and will replace them after the funds are raised. It can be seen that Sanan Optoelectronics is facing urgent market opportunities.

Sanan Optoelectronics has made the market unstoppable. One day later, on the evening of May 28, Sanan Optoelectronics announced the announcement of its foreign investment, saying that it plans to cooperate with Weiwei Co., Ltd. in the near future to develop LED application products. This means that Sanan Optoelectronics will try to extend the LED industry chain by cooperating with downstream manufacturers through equity participation.

Bet the market to pick up

Recently, the launch of demand has caused bottlenecks in the supply of LED lighting chips. The stock prices of many LED companies have been all the way. On May 24, Sanan Optoelectronics' stock price also showed a daily limit.

Wang An, the director of Sanan Optoelectronics, said in an interview that it was mainly affected by the surge in the stock price of LED companies in the international market and was transmitted to China. This also shows that the market is very optimistic about the market prospects of LED products. According to its introduction, Sanan Optoelectronics' goal for the next five years is to enter the world's top five LED chips and strive for the top three, so it needs to expand production.

According to information, the first-line manufacturers such as Jingdian, Yuyuan and Sanan are already full, but orders still hang up in May. At the same time, upstream and downstream packaging plants are accelerating expansion based on existing orders. Some industry insiders have judged that in the short term, the intensive chip and the inflection point of LED lighting products have been established.

This also makes the competition in the LED market cake more and more intense. On May 23, Li Xuliang, chairman of Qinshang Optoelectronics Co., Ltd. said at the annual general meeting of shareholders that by taking the lead in price reduction in the LED commercial lighting market, the current supply of LED lighting products is in short supply. Qinshang Optoelectronics wants to build 1,000 sales terminals this year.

However, not everyone is optimistic. Some insiders said that most of China's LED product manufacturers are concentrated in the packaging and application fields in the middle and lower reaches of the industry chain. The industry is facing overcapacity, the competition of low-end products is fierce, and the high-end product technology is not hard. In addition, government subsidies are not sustainable.

In the above researcher's view, the current overcapacity in the domestic LED industry is mainly due to structural overcapacity, and there is no overcapacity in the technology-focused chips. “Sanan Optoelectronics Co., Ltd. expands the production capacity of LED chips. The investment is not the industrial sector with overcapacity in the industry, but the technical link that needs to be developed. Therefore, its development potential is huge. However, Sanan Optoelectronics should also pay attention to the improvement of chip technology, so that Better stabilize the company's industry position."

According to statistics, in 2011, the total output value of China's LED industry reached 156 billion yuan, an increase of 30% over 2010, of which the chip output value increased by 30% compared with 2010. According to the "Semiconductor Lighting Energy Conservation Industry Plan", by 2015, the LED industry's output value will reach 450 billion yuan, and the chip localization rate will be over 80%.

The researcher said that in theory, the LED industry has unlimited potential for future development. Although the problems of structural overcapacity presented by the current LED industry have caused many enterprises to fall into development difficulties, on the other hand, they have also urged enterprises to move toward the correct development path, that is, pay attention to technology and focus on the integrity of the industrial chain. Therefore, in the future, under the premise of continuous innovation of technology, LED will break through the price factor and occupy more shares in the domestic market.

( 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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