Big shareholder “fleeing” from Qianzhao optoelectronics to raise 1.5 billion yuan to build new projects

The year-on-year expansion of losses, the arrival of warning letters and regulatory letters, and the intensive reduction of major shareholders Qianzhao Optoelectronics (300102. SZ) is entering an eventful period. In the first three quarters of this year, Qianzhao optoelectronics achieved revenue of 862 million yuan, a year-on-year increase of 22.73%, net profit loss of 241 million yuan, a year-on-year drop of 383.87%; the company’s performance has declined in 2018, net profit loss of 280 million yuan, a year-on-year drop of 255.55%. In the evening of December 18, Qianzhao optoelectronics announced that as of December 18, Zhengde Xinsheng, the company’s shareholder with more than 5% shares, had reduced its holdings by 21.22 million shares, accounting for 2.9993%. According to the previous announcement plan, the company’s major shareholders, Zhengde Xinsheng and Zhengde Yuansheng, will reduce their total holdings of no more than 42.45 million shares, accounting for 6% of the company’s total share capital. Prior to this, nanyie industry, the company’s major shareholder, has reduced its holding of 28.15 million shares, accounting for 3.98% of the company’s total share capital; and Zijin No.15 Zhuo fengzeng, the person acting in concert with the major shareholder, said in response to an interview with China Business Daily that the reduction of the major shareholder is its own arrangement, and the company has no right to intervene. If there are relevant changes and reduction plans, the company will disclose them in time . The fixed increase of 1.5 billion yuan is mainly invested in the new mini / micro and high luminous efficiency LED chip R & D and manufacturing projects, but the plan may still be delayed or changed. < / P > < p > previously, Qianzhao optoelectronics released its annual report for the first half of the year, showing a net profit loss of 178 million yuan, down 3666.41% compared with the same period last year. However, after the release of the semi annual report, the company’s share price soared by 110.17% in two weeks, which also made Qianzhao optoelectronics receive the attention letter from Shenzhen Stock Exchange. < p > < p > on September 4, 7 and 8 after the release of the semi annual report, Qianzhao optoelectronics continuously raised its limit. At the same time, the major shareholders of Qianzhao optoelectronics began to reduce their holdings on a large scale. < / P > < p > on the evening of September 8, Qianzhao optoelectronics issued two announcements on reducing its holdings. Zijin No.15 Zhuofeng, the shareholder, increased its holdings of the collective fund trust. On the same day, Zhuofeng reduced its holdings by 14.3 million shares through centralized bidding, accounting for 2.02% of the total share capital of the company, and cleared all the shares it held within one day. Nanyie industry, the largest shareholder, reduced its holdings by 28.15 million shares through block trading on September 8, accounting for 3.98% of the total share capital of the company. < / P > < p > 10 days later, Zhengde Yuansheng and Zhengde Xinsheng, which respectively hold 8.48% and 6.18% of Qianzhao optoelectronics, announced that they would reduce their holdings by no more than 42.45 million shares, accounting for 6% of the total share capital of the company. On September 24, Qianzhao optoelectronics disclosed again that Fujian Zhuofeng, which holds 4.99% of the company’s shares, and Zijin No. 15, which is entrusted by Fujian Zhuofeng, reduced its total holding of 35375813 shares, accounting for 5% of the total share capital of the listed company. < / P > < p > it is worth noting that Zhengde Yuansheng, Zhengde Xinsheng and Fujian Zhuofeng are the concerted action persons of nanyie industry and Zijin 15, the largest shareholders of the company. < / P > < p > the reporter noticed that in February this year, due to the change of stock price, Qianzhao optoelectronics had received the attention letter from Shenzhen Stock Exchange. On November 24, the company received a regulatory letter from Shenzhen stock exchange due to illegal holding and untrue information disclosure. According to the third quarterly report, Qianzhao optoelectronics achieved revenue of 862 million yuan in the first three quarters, a year-on-year increase of 22.73%; the net profit loss attributable to shareholders of listed companies was 241 million yuan, a year-on-year decrease of 383.87%. Among them, there was a loss of 62.9 million yuan in the third quarter, which was narrower than that in the first half of the year, but larger than that in the same period of last year. Basic earnings per share was -0.34 yuan, down 383.59% year on year.

explained covid-19, which is mainly responsible for the performance losses. The company’s price of LED chips continued to decline and gross profit margins dropped significantly. The financial cost of Nanchang chips increased year by year while the government subsidies received during the reporting period were reduced. < / P > < p > the reporter noticed that among the 270 listed electronic components companies, the net assets and total market value of Qianzhao optoelectronics ranked 118 and 188 respectively, while the net profit, gross profit margin and roe ranked 262, 265 and 265 respectively in the same period. < p > < p > under the background of the continuous decline of LED chip market price and the continuous loss of the company’s performance, Qianzhao optoelectronics also put forward a fixed increase plan of 1.5 billion yuan and continued to build new projects. On the evening of November 18, Qianzhao optoelectronics announced that it plans to raise no more than 1.5 billion yuan. According to the announcement, the investment projects of Qianzhao optoelectronics include the R & D and manufacturing projects of mini / MI cro and high luminous efficiency LED chips, as well as supplementary working capital, with the planned investment amount of 1.15 billion yuan and 350 million yuan respectively. < / P > < p > among them, the R & D and manufacturing projects of mini / micro and high luminous efficiency LED chips will take Jiangxi Qianzhao optoelectronics Co., Ltd. as the main body, mainly producing microled chips and high luminous efficiency LED chips, mainly including plant construction, purchase of equipment required for the production of Mini / micro and high luminous efficiency LED chips, etc. According to Qianzhao optoelectronics, the first phase of Nanchang led blue-green chip production base was put into production last year, but it is still in a state of loss due to the gradual release of production capacity. < / P > < p > for the purpose of this raising investment, Qianzhao optoelectronics said that in the face of the rapid growth of downstream application fields, in order to seize the market opportunity and meet the customer’s demand for high-end LED chip product R & D and production capacity, it is necessary for the company to expand the production capacity of high-efficiency LED chip, and through strengthening R & D investment, lay out Mini / microled chip to seize the development opportunity of high-end LED industry. < / P > < p > it is worth noting that Semiconductor R & D and production projects such as dry photovoltaics VCSEL and high-end LED chips started in Xiamen in mid June. Qianzhao photoelectric told reporters that the construction period of the project is two to three years, and the project is still under construction as planned. < / P > < p > this also means that these two new projects will continue to invest in construction in the next few years, and it is difficult to generate profits. At the same time, continuous capital investment is needed, which is undoubtedly heavy pressure on the continuous loss of dry photo. “This is also an important reason for the company to launch the 1.5 billion yuan fixed increase plan at this time.” The industry analysts said. < / P > < p > “in recent years, LED chip manufacturers continue to expand production, resulting in overcapacity, intensified competition in the industry, serious product homogenization, and significant decline in the net profit of manufacturers in the industry. At present, both inside and outside the industry are competing intensively for the layout of Mini / micro projects, and the future market demand is still unknown.” The above industry analysts told reporters that the large-scale investment in the layout of mini / MI cro project at this time is an important measure for the company’s forward-looking layout and seizing the opportunities of high-end LED industry, but the risks of the industry and market are also large, especially for dry photo, which is under great financial pressure. < / P > < p > according to relevant financial reports, as of September 30, 2020, the asset liability ratio of Sanan optoelectronics, the industry leader, was 24.27%, while that of Qianzhao optoelectronics was 61.95%. < / P > < p > Disclaimer: the purpose of this article reprinted by CNFC is to convey more information, and it does not represent the opinions and positions of CNFC. The content of this article is for reference only, and does not constitute an investment proposal. Investors operate on this basis at their own risk. < p > < p > Chinanet is a state key news website under the leadership of the Information Office of the State Council and the management of China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website publishes information 24 hours a day. It is an important window for China to carry out international communication and information exchange.