[Source: Gaogong LED 's " LED Research Review" magazine April issue reporter / Tang Zikai]
On April 5, NVC Lighting (02222.HK) issued a notice stating that the current chairman of the company has resigned as chairman, non-executive director and member of the remuneration committee due to the need to focus on other business matters, and said that the board does not exist. different opinions.
At the same time, Wang Donglei, the chairman of Dehao Runda (002005.SZ), who was just selected as a non-executive director of NVC, was elected as the new chairman of NVC Lighting. The above changes took effect on April 3.
Starting from the investment LED, Wang Donglei sang all the way and continued to publicize his grand blueprint to the outside world. Until now, he took the position of the chairman of the traditional lighting giant NVC Lighting and staged a reverse drama.
"All kinds of interest disputes and contradictions are entangled. On the one hand, it shows that Dehao Runda's situation on LED chips is becoming more and more dangerous. On the other hand, it shows that LED chips have become a concept of Dehao Runda playing with the capital market." Guoxin A new energy analyst of the securities said this.
Wang Donglei became the chairman of NVC Lighting, and on the surface found a stable and powerful seaport for the production capacity of Dehao Runda. However, from the actual actions of Dehao Runda in recent years, the speed of its capital increase is not proportional to the growth of LED chip sales. “Does Dehao Runda use NVC lighting to lay the channel, or use it as a scorpion to play with the capital market?
We are not aware of the right and wrong of these capital games. The head of a chip manufacturer believes that Dehao Runda is still insisting on playing capital games. The LED industry is always an unknown number, but the chips are getting bigger and bigger.
Frequency play
In the past five years, Dehao Runda has been constantly in the LED industry, constantly releasing its rumors, continuously raising funds, and constantly changing its technical team. Some netizens have raised questions on Gaogong LED Weibo. Dehao Runda has also had funds, technical teams, factories, and equipment. It can be said that everything is ready, but why LED chips have not made achievements. ?
For the capital increase case, an insider of Dehao Runda once told reporters that he is not optimistic about the company's return on investment in the LED industry, and some industry insiders who know DHL Runda also said that they are not optimistic.
Not for good reasons, on the one hand is the technical team of Dehao Runda, on the other hand, some insiders pointed out that Dehao Runda is doing real things, really want to do the LED industry?
There have been rumors that Dehao Runda has experienced the problem of shareholders cashing in the process of increasing capital. Judging from the use of funds, Dehao Runda raised its capital twice and raised about 3 billion yuan to invest in the LED field.
As we all know, the most expensive in the LED industry is that Dehao Runda claims to order 200 sets of equipment, but in fact only 80 units are currently available. According to the purchase price of 12 million yuan per unit, the total MOCVD price is 9.6. 100 million yuan. In addition, Dehao Runda ordered MOCVD to receive a subsidy of 10 million yuan per government.
Then, where did the funds raised by Dehao Runda’s billions of dollars in additional issuance go?
Very little income
Regardless of the intention of financing, Dehao Runda’s revenue from LED chips in recent years is not satisfactory. In 2011, the company's chip revenue was only over 14 million yuan, and in the first half of 2012 it was more than 26 million yuan.
Comparing the revenues of Dehao Runda and Sanan Optoelectronics, Ganzhao Optoelectronics, Shilan Mingxin and other chip companies in recent years, it can be seen that Dehao Runda’s LED chip production capacity ranks second, but LED chip revenues in the past two years have Far less than peers.
The number of MOCVD machines that can be mass-produced by Huacan Optoelectronics is 29 units. In the first half of 2012, the number of machines that can be mass-produced by Dehao Runda is more than 20 units. However, the revenue of LED chips and epitaxial wafers of Huacan Optoelectronics is much higher than that of Dehao Run. Up to several times. Similar to Sanan Optoelectronics, Ganzhao Optoelectronics, Silan Mingxin and other enterprises.
It is understood that the top five LED packaging companies in China, Ruifeng Optoelectronics, Guoxing Optoelectronics, Hongli Optoelectronics, etc. did not purchase large quantities of LED chips from Dehao Runda. Even the low-end chips purchased by Mulinsen did not come from Dehao Runda. . On the contrary, Sanan Optoelectronics LED chips can not enter the high-end chip market, but basically entered the supply system of the first few major packaging companies in China, occupying a large market share.
A number of LED industry sources have revealed that the reason why the LED chips of Dehao Runda are not selling well is because of the lack of core technology and the quality of the chips.
Among them, several LED packaging manufacturers that have tested the Dehao Runda chip in China have consistently stated that "Gaogong LED" indicates that Dehao Runda's chip voltage is unstable and the illumination is not uniform. They dare not use DHL Runda in large quantities. Chip.
In terms of technology, in recent years, Dehao Runda seems to be in full swing, introducing a number of technical teams in the United States, Europe, and Taiwan, and expects to quickly solve the technical problems of the chip. As for the patent risk of exporting products of concern to the outside world, the company has stated that it has been properly solved by purchasing the patent of EpiValley of Korea.
Everything looks perfect, but it doesn't seem to bring much improvement to the performance of Dehao Runda's LED chips.
According to informed sources, the current LED chips of Dehao Runda are mainly sold to Southeast Asian countries such as Thailand.
Especially in the LED chip industry last year, the overcapacity, the rapid decline in prices and the continued impact of product gross profit, LED chip business has become the "hot potato" of Dehao Runda. Wang Donglei had to work hard on NVC lighting to find a way out for the chip, and also to explain to the capital market.
NVC Lighting has become a rescuer of Dehao Runda because of its huge channel network in China. Previously, in response to the rumor that “Dehao Runda LED product sales will be integrated into the NVC Lighting Operations Centerâ€, Dehao Runda’s response is that the LED light source products produced in the first quarter of this year are entering NVC lighting nationwide. Sales through local channels have been fully rolled out since April.
For Wang Donglei, who has always been arrogant, whether the chip can be recognized by the vast number of consumers, or wait for the market to have the final say.
Some netizens commented that instead of taking the "throne" of NVC Lighting's chairman, they will be able to make consumers pay for their chips.
On April 5, NVC Lighting (02222.HK) issued a notice stating that the current chairman of the company has resigned as chairman, non-executive director and member of the remuneration committee due to the need to focus on other business matters, and said that the board does not exist. different opinions.
At the same time, Wang Donglei, the chairman of Dehao Runda (002005.SZ), who was just selected as a non-executive director of NVC, was elected as the new chairman of NVC Lighting. The above changes took effect on April 3.
Starting from the investment LED, Wang Donglei sang all the way and continued to publicize his grand blueprint to the outside world. Until now, he took the position of the chairman of the traditional lighting giant NVC Lighting and staged a reverse drama.
"All kinds of interest disputes and contradictions are entangled. On the one hand, it shows that Dehao Runda's situation on LED chips is becoming more and more dangerous. On the other hand, it shows that LED chips have become a concept of Dehao Runda playing with the capital market." Guoxin A new energy analyst of the securities said this.
Wang Donglei became the chairman of NVC Lighting, and on the surface found a stable and powerful seaport for the production capacity of Dehao Runda. However, from the actual actions of Dehao Runda in recent years, the speed of its capital increase is not proportional to the growth of LED chip sales. “Does Dehao Runda use NVC lighting to lay the channel, or use it as a scorpion to play with the capital market?
We are not aware of the right and wrong of these capital games. The head of a chip manufacturer believes that Dehao Runda is still insisting on playing capital games. The LED industry is always an unknown number, but the chips are getting bigger and bigger.
Frequency play
In the past five years, Dehao Runda has been constantly in the LED industry, constantly releasing its rumors, continuously raising funds, and constantly changing its technical team. Some netizens have raised questions on Gaogong LED Weibo. Dehao Runda has also had funds, technical teams, factories, and equipment. It can be said that everything is ready, but why LED chips have not made achievements. ?
For the capital increase case, an insider of Dehao Runda once told reporters that he is not optimistic about the company's return on investment in the LED industry, and some industry insiders who know DHL Runda also said that they are not optimistic.
Not for good reasons, on the one hand is the technical team of Dehao Runda, on the other hand, some insiders pointed out that Dehao Runda is doing real things, really want to do the LED industry?
There have been rumors that Dehao Runda has experienced the problem of shareholders cashing in the process of increasing capital. Judging from the use of funds, Dehao Runda raised its capital twice and raised about 3 billion yuan to invest in the LED field.
As we all know, the most expensive in the LED industry is that Dehao Runda claims to order 200 sets of equipment, but in fact only 80 units are currently available. According to the purchase price of 12 million yuan per unit, the total MOCVD price is 9.6. 100 million yuan. In addition, Dehao Runda ordered MOCVD to receive a subsidy of 10 million yuan per government.
Then, where did the funds raised by Dehao Runda’s billions of dollars in additional issuance go?
Very little income
Regardless of the intention of financing, Dehao Runda’s revenue from LED chips in recent years is not satisfactory. In 2011, the company's chip revenue was only over 14 million yuan, and in the first half of 2012 it was more than 26 million yuan.
Comparing the revenues of Dehao Runda and Sanan Optoelectronics, Ganzhao Optoelectronics, Shilan Mingxin and other chip companies in recent years, it can be seen that Dehao Runda’s LED chip production capacity ranks second, but LED chip revenues in the past two years have Far less than peers.
The number of MOCVD machines that can be mass-produced by Huacan Optoelectronics is 29 units. In the first half of 2012, the number of machines that can be mass-produced by Dehao Runda is more than 20 units. However, the revenue of LED chips and epitaxial wafers of Huacan Optoelectronics is much higher than that of Dehao Run. Up to several times. Similar to Sanan Optoelectronics, Ganzhao Optoelectronics, Silan Mingxin and other enterprises.
It is understood that the top five LED packaging companies in China, Ruifeng Optoelectronics, Guoxing Optoelectronics, Hongli Optoelectronics, etc. did not purchase large quantities of LED chips from Dehao Runda. Even the low-end chips purchased by Mulinsen did not come from Dehao Runda. . On the contrary, Sanan Optoelectronics LED chips can not enter the high-end chip market, but basically entered the supply system of the first few major packaging companies in China, occupying a large market share.
A number of LED industry sources have revealed that the reason why the LED chips of Dehao Runda are not selling well is because of the lack of core technology and the quality of the chips.
Among them, several LED packaging manufacturers that have tested the Dehao Runda chip in China have consistently stated that "Gaogong LED" indicates that Dehao Runda's chip voltage is unstable and the illumination is not uniform. They dare not use DHL Runda in large quantities. Chip.
In terms of technology, in recent years, Dehao Runda seems to be in full swing, introducing a number of technical teams in the United States, Europe, and Taiwan, and expects to quickly solve the technical problems of the chip. As for the patent risk of exporting products of concern to the outside world, the company has stated that it has been properly solved by purchasing the patent of EpiValley of Korea.
Everything looks perfect, but it doesn't seem to bring much improvement to the performance of Dehao Runda's LED chips.
According to informed sources, the current LED chips of Dehao Runda are mainly sold to Southeast Asian countries such as Thailand.
Especially in the LED chip industry last year, the overcapacity, the rapid decline in prices and the continued impact of product gross profit, LED chip business has become the "hot potato" of Dehao Runda. Wang Donglei had to work hard on NVC lighting to find a way out for the chip, and also to explain to the capital market.
NVC Lighting has become a rescuer of Dehao Runda because of its huge channel network in China. Previously, in response to the rumor that “Dehao Runda LED product sales will be integrated into the NVC Lighting Operations Centerâ€, Dehao Runda’s response is that the LED light source products produced in the first quarter of this year are entering NVC lighting nationwide. Sales through local channels have been fully rolled out since April.
For Wang Donglei, who has always been arrogant, whether the chip can be recognized by the vast number of consumers, or wait for the market to have the final say.
Some netizens commented that instead of taking the "throne" of NVC Lighting's chairman, they will be able to make consumers pay for their chips.
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