Since the beginning of the listing, Foshan Lighting, which has been called “cash cow†for its long-term dividends to shareholders, has been listed for a long time after its major shareholder changed its foreign share status to Osram Prosperity Holdings Co., Ltd. (hereinafter referred to as Osram Prosperity). The high dividend policy that is maintained may change. In the opinion of some insiders in the industry, after the entry of foreign shareholders, the industrial status of Foshan Lighting’s original “China Light King†may gradually be marginalized as an OEM machine for multinational companies in the world.
A few days ago, due to Osram Yuchang’s vote on the allocation of 5 yuan for every 10 shares of Foshan Lighting in 2006, the Shenzhen Stock Exchange issued a letter to pay attention to the violation of the share reform commitment.
The support of major shareholders is limited?
According to the share reform commitment of Osram Prosperity at the time, in the four years after 2006, Osram Prosperity will propose a profit distribution proposal at the company's annual general meeting and vote in favor.
"It is not excluded that this incident reflects the conflict of interest between shareholders and the differences in the development of the company between shareholders and management." A researcher said in an interview with the Financial Weekly reporter.
“Because there are still some projects invested in the follow-up, and the listed company has already stated that it has not financed for three years in the share reform commitment, therefore, from a financial point of view, the best solution is internal non-distribution.†Another researcher is accepting financial management. The weekly reporter said this in an interview. However, the share reform commitment also has provisions for dividends, so the researcher also admitted that "the breach of the promise of abstaining from the vote is indeed inadequate, the company may first open a shareholders meeting to discuss."
Regardless of how to understand the abstention of major shareholders, the image of listed companies in the capital market "preferably send less, pay dividends" has been damaged to a certain extent. It is worth noting that the vote on May 23 this year is only the first vote since the major shareholder promised. In the next three years, Osram Prosperity, the major shareholder, will move further on the relevant commitments such as dividends and financing.
Future actions cannot be judged. However, Zhang Hongdao, an analyst at Huatai Securities, is worried in the research report that Osram’s entry did not bring the market’s expected changes. Osram will be the big Buddha photo brand or the frozen Buddha photo brand. The focus of attention.
"(Foshan Lighting) is only a asset allocation for Osram, it is a profitable asset, but after all, it is not a wholly-owned 'Osram China', and does not rule out the re-establishment of Osram," said an insider. According to public information, Osram has set up branch offices in Beijing, Shanghai and Chengdu, respectively, and Osram's color display special light source and LED products with high technical content and high added value are all distributed in the wholly-owned subsidiaries in East China.
Obviously, the future status of Foshan Lighting is very uncertain. Despite this, the above-mentioned people still said that although Foshan Lighting's growth space is limited, it is still possible to maintain a "stable" growth in the next few years. "Osram will not be near Foshan even if it opens a new factory, because it will form internal competition. This is a game about balance. The management and major shareholders will not break. For investors like us, naturally do not like it. Such low growth," he said.
1 2 Next Page
303/304/501 Switch Lines,Data Transmission Line,Usb To Micro Charging Line,Usb-C Charging Line
ShenZhen Puchen Electronics Co., Ltd. , https://www.szpuchen.com