The development of the "small horse-drawn cart" style is not a dream for Sanan Optoelectronics (600703.SH).
The main income is only 500 million yuan, and the total assets of only 2 billion yuan, Sanan Optoelectronics now has to complete the investment of billions of yuan through financing.
On September 17, Sanan Optoelectronics said that the private placement project has been approved by the China Securities Regulatory Commission and can be started at any time. In October last year, the company has raised 800 million yuan through private placement.
According to the previously announced plan, Sanan Optoelectronics plans to raise no more than 2.98 billion yuan, which will be used for its wholly-owned subsidiary Anhui Sanan Optoelectronics to implement Wuhu Optoelectronics Industrialization (Phase I) project, with a total investment of 6.662 billion. yuan. For Sanan Optoelectronics, which has limited financial strength, its huge investment of tens of billions of dollars has made the market exciting and worried.
On the issue of information disclosure on company investment and related cooperation, Sanan Optoelectronics is still questioned by the market, and even suspected of information disclosure violations. The announcement on the “$1.18 billion big order†is still considered to be “clear.†".
Fuzzy disclosure
On September 8th, the 14th China International Fair for Investment and Trade held in Xiamen uploaded a news about Sanan Optoelectronics' acquisition of hundreds of millions of large orders: the 80 billion yuan bill signed by the Anhui delegation and domestic and foreign merchants. In the meantime, Fujian Sanan Optoelectronics Co., Ltd. has monopolized the high-concentration solar system and component production project of Wuhu City with a price of 1.18 billion US dollars.
However, the matter has not been announced, the market questioned the company deliberately concealing major news, suspected of information disclosure violations. In this regard, Sanan Optoelectronics issued a clarification announcement on September 14, indicating that after consulting Sanan Optoelectronics management, controlling shareholders and actual controllers, the company did not sign a large order of 1.18 billion US dollars on September 8.
In the announcement, Sanan Optoelectronics said that the two shareholders Fujian Sanan Group and the Wuhu Economic and Technological Development Zone Administrative Committee signed the "Investment Letter of Intent", Sanan Group plans to invest 8 billion yuan in the development zone to produce steel structural parts and high Low-voltage switchgear and other equipment are also planned to produce the above equipment for the Wuhu ground application high-concentration solar power generation system and component projects.
According to a series of announcements made by the company last year, the reporter found that as the leader of domestic LED enterprises, the main body of cooperation and investment with Wuhu City has been Sanan Optoelectronics listed company. Sanan Group has not appeared before, but this time it suddenly took the front desk.
In addition, in the series of announcements that have been announced, Sanan Optoelectronics has been ignorant of investment and large-scale projects. As announced on August 3, Sanan Optoelectronics said that it will invest US$18 million and US EMCORE Corporation (investment of US$12 million) to jointly establish a joint venture, Sanke Photovoltaic Co., Ltd. to expand the photovoltaic market. The joint venture company is located in the Wuhu Economic Development Zone and will produce a third-generation photovoltaic product, a high-concentration solar cell. In addition, Sanan Optoelectronics and EMCORE Corporation also signed the “Investment Cooperation and Discussion on Ground Application High-concentration Solar Power System and Component Project†with the People's Government of Wuhu City.
“What is the cooperation content of this high-concentration solar power generation system? We are ignorant of how much revenue we can bring to the company.†An investor told the China Business News that the announcement said So vague, it is impossible to make valuable judgments based on this.
On September 8, Sanan Group signed a contract with relevant departments to invest 8 billion yuan in the Wuhu Economic and Technological Development Zone to build a factory to produce steel structural parts and high and low voltage switchgear and other equipment. Such a major information company has not disclosed it in time, and the industry believes it is a clear violation.
The reporter learned from the Investment Promotion Bureau of Wuhu Economic and Technological Development Zone that the above investment and cooperation agreements are limited to the stage of cooperation and have not yet reached any substantive content. "They have not submitted an application report yet."
"This investment is apparently made by the parent company, but it is actually closely related to the listed company." Zhu Zhiyong, an analyst at Aijian Securities, pointed out that related technologies and production capacity are mainly concentrated in Sanan Optoelectronics, and Sanan Group will definitely rely on listed companies. The production line will definitely have an impact.
According to industry sources, the relationship between Sanan Optoelectronics and Sanan Group belongs to the pattern of “big companies, small groupsâ€, and the main assets are concentrated at the level of listed companies.
Article 67 of the Securities Law clearly stipulates that “a major event that may have a significant impact on the stock trading price of a listed company, when the investor has not known, the listed company shall immediately report the situation of the major event to the State Council Securities Supervision and Administration. The agency and the stock exchange submit an interim report and make an announcement, stating the cause of the incident, its current status and the possible legal consequences."
Funds are stretched
Sananguang Electric Electric Co., Ltd. has several billion yuan, and the tens of billions of large-scale investment has attracted strong attention from the capital market. It once caused the stock price to surge several times last year and became one of the big bull stocks of the year.
At the beginning of 2010, Sanan Optoelectronics announced that it had decided to invest in the construction of LED industrialization base in Wuhu Economic and Technological Development Zone. The agreement stipulated that the total investment of the project was about 12 billion yuan. This is another big step after the company's private placement last year raised 800 million yuan to build a northern LED production and R&D base in Tianjin.
On September 8, the company announced that the shareholder Fujian Sanan Group and the Wuhu Economic and Technological Development Zone Administrative Committee signed the "Investment Letter of Intent". Sanan Group plans to invest 8 billion yuan in the development zone to produce steel structural parts and high and low pressure. Switchgear and other equipment are also planned to produce the above equipment for the Wuhu ground application high-concentration solar power generation system and component projects.
As a return on investment, the company signed the “LED Application Product Sales Contract†with the Wuhu City Housing and Urban-Rural Development Committee on January 15th. The committee decided to purchase high-power LED street lamps from the company, totaling 600 million yuan.
The accumulated investment of more than 20 billion yuan is not easy for Sanan Optoelectronics, whose total assets are only over 2 billion yuan. The 2010 semi-annual report released recently showed that in the first half of the year, Sanan Optoelectronics achieved operating income of 365 million yuan, a year-on-year increase of 69.18%; realized operating profit of 121 million yuan, an increase of 101.04%; net profit of 202 million yuan, an increase of 257.19%.
Although the growth situation is gratifying, the profit of 202 million yuan is huge compared with the investment of more than 20 billion yuan.
"The company's financial pressure is indeed very large, which may be the reason why 8 billion yuan invested in the group rather than the listed company." Zhu Zhiyong said that after eliminating various government subsidies, the company's profit is not large.
The capital chain of Sanan Group seems to be very tense. According to public information, Sanan Group raised funds through the equity of Sanan Optoelectronics held by the mortgage twice within half a year.
On September 6th, Zhongrong-Zhongan Optoelectronics A-share equity income right investment (Phase I) collective fund trust plan was established. Zhongan Optoelectronics' controlling shareholder Sanan Group successfully raised 150 million yuan. On March 18 this year, Sanan Group raised 200 million yuan in the same way. In just half a year, Sanan Group has financed 350 million yuan through trust.
On August 11, Sanan Group pledged 23.08 million shares of Sanan Optoelectronics to Zhongrong Trust, which is the share of the above trust plan for mortgage. Based on Sanan Optoelectronics' closing price of 48.51 yuan on September 15, the market value of 23.08 million shares is 1.12 billion yuan, far exceeding the financing amount of 150 million yuan. According to the information, the trust has a maturity of 23 months and the expected annual rate of return is 6.5% to 7%.
Earlier in 2009, Sanan Optoelectronics' major shareholder Sanan Electronics signed two stock pledge contracts with Suzhou Trust on September 18, 2009, and collectively pledged 14.32 million shares of Sanan Optoelectronics to Suzhou Trust.
“The issuance of financing through listed companies is the most important way to solve the problem of Sanan Optoelectronics' funds.†A private equity analyst analyzed that the adoption of the private placement plan is only the first step of huge financing, and the follow-up capital investment also depends on the capital market. Financing. However, whether you can find enough institutional subscriptions will be a difficult problem in front of Sanan Optoelectronics. According to the company's additional issuance plan in March this year, the additional price is 55.77 yuan, far higher than the current secondary market price of 48 yuan.
- The Description of TV Antenna
-
In the cable TV system, the task of the antenna is to receive the open channel TV signal or satellite TV signal in the air, and send it to the system for processing, transmission and distribution. Among them, the antennas receiving VHF and UHF open-circuit TV signals are called TV receiving antennas.
- TV receiving antenna is an important part of wireless TV signal receiving, and it is the gate for radio waves to enter the CATV system. There are two kinds of antenna: passive antenna and active antenna. The active antenna can make the antenna system realize high gain and high signal-to-noise ratio receiving.
The Picture of TV Antenna
TV Antenna Outdoor,TV Antenna Indoor,TV Antenna at best buy,TV Antenna Booster,TV Antenna Amazon
Yetnorson Antenna Co., Ltd. , https://www.yetnorson.com