Industry reshuffle into the deep water period, the number of LED industry's top ten closed down debts

[Text|High-tech LED Zhao Hui] closed down! See you again!

In September, during the golden ball harvest season, the LED industry broke the huge arrears, and Foshan Tovey owed 180 million people to be surrounded by suppliers and employees.

At 22:20 on the evening of September 17, Foshan Tovey Environmental Lighting Project Limited (hereinafter referred to as “Foshan Tovey”) company gathered a large number of people, including suppliers, company employees, and police.

A supplier representative told Gaogong LED. "A total of 180 million yuan is owed, and we are only 2.6 million." According to the supplier, there are more than 500 suppliers who are owed by Towe, of which more than 80 are owed more than 1 million. The biggest "victim" was owed 12 million. In addition to the supplier's money, Foshan Tovey also owed employees 3-6 months of salary.

The news that Foshan Tovey was blocked was quickly spread throughout the LED industry, causing widespread concern and heated discussion. Gaogong LED issued the "[High-tech exclusive] arrears of 180 million? Foshan Tovey urgently needed to take over the news" news in just 12 hours, the reading volume exceeded 290,000 times.

In the first half of 2015, the LED lighting industry has changed from “blue ocean” to “red sea”. The survival situation of enterprises is not optimistic, and the tide of mergers and acquisitions has been one after another. The “price war” is filled with smoke. International companies such as Osram and Philips Sulphur are selling and searching. Buyers, domestic companies are willing to fight for a way out.

Judging from the semi-annual report released by LED listed companies, the LED industry is still in a serious “incremental increase”. According to the TGII, the number of LED application companies in 2014 was 13,300. By 2015, this number will drop to 12,300. The sheer volume of application-oriented enterprises also means that about 1,000 application companies will face a crisis of bankruptcy in the coming year. In this case, the middle and upper reaches of the enterprise can not be avoided.

"LED general lighting is in the golden period of development, the industry is in a period of rapid integration, and there will be more and more mergers and acquisitions and elimination enterprises. The competitive pressure of non-listed downstream application enterprises will be greater, and the elimination of industry competition is accelerating." Dr. Zhang Xiaofei believes.

At the 2015 CEO Conference of the G20-LED Lighting Summit held recently, the guests at the meeting all said that the market performance in the first half of the year was not as expected.

“Our intuitive experience is that suppliers are becoming less, peers seem to be gradually decreasing, customers are also decreasing, and the entire industry chain is playing less and less together.” Gong Wen, general manager of Jingtai Co., Ltd. in G20-LED lighting The 2015 CE CEO closed meeting said.

It is not just the Jingtai shares that have this feeling. Gaogong LED found in the company's visit that many companies have similar confusions. Who hasn't seen the family recently?

Lin Jiyao, general manager of the Mulinsen LED lighting business unit, is quite helpless: "The (our) lighting industry's shipments have risen very fast this year, but the profits have not grown much.

In the view of Dr. Zhang Xiaofei, the reduction of suppliers, peers and even customers is not a bad thing. This is the stage in which the industry is mature. “Customers are decreasing, but their volume is increasing,” he believes, which is more conducive to the growth of quality customers.

Gaogong LED counts the cases in which LED companies have closed down and owed money since 2012, and listed the top ten bankruptcies and arrears.

NO.1 Kellett Optoelectronics Liabilities 5.6 billion Taiwan dollars (equivalent to RMB 1.1 billion) July 2013

At the end of July 2013, Xili Optoelectronics Co., Ltd., an LED chip factory in Taiwan, was shut down. The chairman, general manager and directors and supervisors all resigned, leaving about 5.6 billion Taiwan dollars in debt.

It is reported that Kellett Optoelectronics encountered the competitive pressure and debt pressure of the low-end chip products in the Chinese mainland market. In recent years, Keli Optoelectronics has been affected by the poor performance of the mainland market. In 2012, the company experienced debt problems.

NO.2 Juliang Optoelectronics: Arrears of 200 million yuan in December 2014

On December 6, 2014, Liu Liangyong, the boss of Juliang Optoelectronics, lost the connection and took away the purchase price of more than 200 million yuan from the supplier. According to informed sources at the time, "Liu Juyong and Liu Geliang ran away. More than 100 suppliers were trapped at the door of their factory. Several suppliers have already owed more than 10 million yuan."

According to the investigation, Gaogong LED has found that some suppliers with large amounts of arrears include more than 10 million yuan for each of the two fixed-crystal equipment manufacturers, more than 10 million yuan for a testing equipment supplier, and more than 4 million yuan for a fluorescent powder enterprise. Nearly 8 million yuan, a glue company 2 million yuan and a circuit board enterprise 2 million yuan.

NO.3 Foshan Tovey: Arrears of 180 million yuan September 2015

It is understood that the amount of money that Foshan Tovey owes to suppliers is like snowballing. "A total of 180 million yuan is owed," said one supplier representative. "We are just 2.6 million." According to the supplier, Toto owed There are more than 500 suppliers, of which more than 80 are owed more than 1 million, and the largest “victim” is owed 12 million. In addition to the supplier's money, Foshan Tovey also owed employees 3-6 months of wages.

NO.4 Ten party photoelectric arrears 80 million yuan August 2013

In August 2013, Shenzhen Shifang Optoelectronics Co., Ltd. (hereinafter referred to as “Shifang Optoelectronics”) was in arrears of bankruptcy for 220 employees who were in arrears due to fraudulent suppliers of 80 million yuan.

Shenzhen Shifang Optoelectronics Co., Ltd. was established in July 2010 with a registered capital of 1 million yuan. The legal representative is Deng Junguo, mainly engaged in LED light-emitting diodes, LED dot matrix modules, LED display and lighting.

NO.5 Fengguang Legend owes 70 million yuan in October 2014

On October 22, 2014, the legendary Fengguang boss was exposed and lost more than 70 million yuan from suppliers and distributors.

This year's high price, please Phoenix Legend for its endorsement lighting companies in the high-value brand promotion and channel construction costs did not receive the actual results, and finally fell.

NO.6 Big Eyes Optoelectronics owes more than 70 million yuan in November 2012

The big-eye optoelectronic suppliers are nearly arrears of nearly 70 million yuan, involving a total of more than 100 suppliers. The culprit that really leads to a crisis in the big eye is actually the excessive use of financial leverage.

NO.7 Dongguan Yongxing Electronics defaulted on payment of 8 million yuan and bank loans and private loans nearly 30 million yuan September 2014

According to the person in charge of a supplier of Yongxing Electronics, Yongxing Electronics currently defaults on the supplier's payment of about 8 million yuan. In addition, Yongxing Electronics still owes loans to three banks, including 10 million yuan by Industrial Bank, 1.5 million yuan by Guangfa Bank and 12 million yuan by China Merchants Bank. The arrears of China Merchants Bank have been repaid by the guarantee company and converted into usury. At the same time, Yongxing Electronics also has five non-government loan sharks of RMB 3.7 million, RMB 1 million, RMB 250,000, RMB 350,000 and RMB 700,000 borrowed from friends.

When Yongxing Electronics was founded, it mainly produced LED package brackets, mainly based on straight-in brackets, and positioned the low-end market. At the beginning of 2008, the transformation of lighting began, mainly producing street lamps.

NO.8 Xiongji Lighting owes more than 30 million yuan in July 2013

On July 2, 2013, Xie Yingxiong, the owner of the LED low-end finished product in Zhongshan Guzhen, “running the road”, left only 300 unpaid employees and a bunch of unpaid cash coupons.

Gaogong LED interviewed on the spot, about 60 parts suppliers were arrears of payment by Xiongji Factory, totaling more than 30 million yuan, and more than 4 million yuan of suppliers with the most arrears could not be returned.

NO.9 Haobo photoelectric arrears 25 million yuan November 2012

Haobo Optoelectronics owed employees about 2 million yuan in salary and arrears from suppliers for about 25 million yuan. In the shortage of funds of Haobo Optoelectronics, the fuse is in its sluggish LED lighting business. Haobo Optoelectronics, which is mainly engaged in LED display, invested heavily in the lighting market in 2011, but it has not improved, and ultimately dragged down the main display business.

NO.10 Jiahao Optoelectronics owes 18 million yuan in December 2012

In December 2012, Dongguan Jiahao Photoelectric Co., Ltd. was seized by the local people's court in Dongguan due to the arrears of suppliers' payment of 18 million yuan. It is reported that Jiahao Optoelectronics actually has less than 7 million yuan in total assets, and its chairman Sun Yiyang has already run.

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