On the 30th, Mingjiahui (300506) announced a plan to raise funds of no more than 1.7 billion yuan, which is only 6 months away from the company's IPO in late March this year.
Masters announced on September 30 that the 2016 non-public offering plan will not exceed 70 million shares, and the total amount of funds raised will not exceed 1.7 billion yuan. After deducting the issuance expenses, it plans to invest in three projects, namely, supplement lighting project. Supporting funds, LED landscape art lighting R & D and production base and experience display center construction, contract energy management working capital, the amount of funds to be used for the proposed use of funds is 1.3 billion yuan, 200 million yuan, 200 million yuan.
1. The company plans to issue no more than 70 million shares in a non-public offering, and the total amount of funds raised shall not exceed 1.7 billion for supplementing the project supporting project funds and the LED landscape art lighting R&D and production base and experience display center construction project.
2. The company has newly signed more than 30 lighting project construction projects, the total amount of the project is large, and the project reserve scale continues to grow. In order to meet the needs of future business development, the company needs large-scale financial support. Supplementary project supporting funds projects will meet the company's funding needs.
3. The LED landscape art lighting R&D and production base and experience exhibition center construction project can form an annual production capacity of 12,000 sets of custom landscape art lamps, 30 sets of urban landscape art sculptures and 6000 sets of smart street lamps, providing landscape art for the company's construction business. Lighting products support; at the same time, the project will be built into an experience display center, which will help customers to experience the effects of the company's products more realistically.
The main business of Mingjiahui is lighting engineering business and related lighting engineering design, lighting product research and development, production, sales and contract energy management business.
The company was listed on the GEM on March 24, 2016. At that time, the total amount of funds raised was 27.5 million yuan, and the actual net proceeds raised was 227.071 million yuan. As of June 30, 2016, the company has invested a total of 160,430,800 yuan (including Replace the self-owned funds with an advance investment of 137,782,100 yuan).
It is worth noting that in the last three years, from 2013 to 2015, the operating income of famous Huihui was 205,262,700 yuan, 234,195,900 yuan, 247,523,400 yuan, and the net profit was 4,959,750 yuan, 4,762,200 yuan and 4,977,000 yuan respectively.
Although the company's revenue and net profit increased slightly in 2014 and 2015, the company's accounts receivable (net) increased rapidly. From 2013 to 2015, the accounts receivable were 94.075 million yuan and 136.595 million yuan respectively. , 18,082,560 yuan.
On June 30, 2016, the company's accounts receivable exceeded 200 million yuan, reaching 205,528,700 yuan.
The listing of the famous Huihui is planned to be refinanced in only half a year, and the total amount of funds to be raised far exceeds the initial raised funds. Why is the company's refinancing so urgent and why is the amount so high? In 2014 and 2015, the company's revenue and net profit increased slightly. Why did the company's accounts receivable (net) increase rapidly? The company's net receivables account for a higher proportion of current assets. What are the countermeasures? For the above questions, the Public Securities and Financial Network reporters sent a letter to the famous family on the 30th, but as of press time, the company has not yet responded.
On the 30th, Mingjiahui released the 2016 third quarter results forecast. It is estimated that the net profit for the first nine months of 2016 will be 4,110,300 yuan - 50,856,200 yuan, an increase of 30%-60% over the same period of the previous year.
According to the company, during the reporting period, the company's business scale increased steadily, the project landed smoothly, and operating income increased steadily, achieving a continuous increase in net profit.
In fact, it is not only the famous collectors who are eyeing the LED landscape lighting market. Enterprises like Tongfang Lighting, Mingwei Electronics and Liard are also licking this “fatâ€.
Jiang Guangjun, deputy general manager of Heshan Tongfang Lighting Domestic Center, said: "Over the entire year, the sales of Heshan Tongfang Lighting LED landscape lighting is close to 100 million. From the current market situation, I believe that there is no big problem in doubling in 2016."
Why is he so emboldened? This is because compared to indoor lighting, the LED landscape lighting profit margin is even higher than the indoor commercial, the return is better, and the customer base is more stable.
At the same time, LED supply chain company Mingwei Electronics will also focus on landscape lighting in 2016.
Li Zhaohua, general manager of Mingwei Electronics, said: "2016 Mingwei Electronics' products are mainly locked in three directions, landscape lighting, LED lighting and display screen. Among them, landscape lighting and display screens strive to win 70-80% of the market. "Ming Microelectronics is actively promoting the application of linear ICs in landscape lighting.
At the moment of diluting profits, low-price competition, and product homogenization, a series of changes have taken place in the LED display market. The market division of labor has gradually become more refined, and some enterprises have begun to shift their development focus to landscape lighting.
Leading LED display company Liard has strengthened its development in landscape lighting through its wholly-owned subsidiary Jinda Lighting.
First of all, Jinda Lighting announced the establishment of a Jinda Lighting Investment Fund with a total scale of 1 billion yuan, intending to stage a capital drama; secondly, in order to further improve the development speed of Jinda Lighting, expand the market and business scale, Liad to Gold Daguang Lighting has invested 70 million yuan.
At the same time, another LED display company, Alto Electronics, plans to purchase 300 million Huizhou lighting, and layout landscape lighting.
It is understood that Qianbaihui Lighting is mainly engaged in the construction of urban landscape lighting projects and the overall planning and design of landscape lighting projects and the development, production and sales of lighting products. Through the acquisition of Qianbaihui Lighting, Alto Electronics officially extended its business to the enviable landscape lighting field.
In the "Red Sea" wave of traditional lighting, the advantages of high gross profit and high return of landscape lighting are bound to become the focus of more and more LED companies.
With the acceleration of urbanization, it is believed that in the next few years, whether it is a prosperous city or a second- and third-tier city, landscape lighting can develop rapidly and gradually become the branch of LED lighting application area next to indoor lighting.
The landscape lighting market has great prospects, as the market where the current industry has not yet become a hedge, or will play a booster for the industry.
At the Forum on Outdoor Road Landscape Lighting Symposium jointly organized by the High-tech Research Institute LED Research Institute (GGII) and the Incentive Testing, Dr. Zhang Xiaofei, Chairman of the High-Technology Research Institute, said that the global landscape lighting market will continue to expand in 2016.
Benefiting from the promotion of policy promotion in various countries and regions around the world, the penetration rate of landscape lighting market is continuously improving. According to GGII statistics, the global landscape lighting market will reach 218 billion yuan in 2015. It is estimated that the global landscape lighting market will reach 233.5 billion yuan in 2016. .
For example, in 2016, indoor lighting, commercial lighting, municipal engineering lighting, outdoor lighting, tourism landscape lighting and other market segments will continue to deepen. Driven by positive fiscal policy and loose monetary policy, the real estate market gradually stabilized in 2016, and the real estate landscape lighting market developed rapidly.
At the same time, cities along the high-speed rail and tourism and cultural cities have attached more importance to landscape lighting, and the urban landscape lighting market has continued to expand. The most important advantages of LED landscape lighting will become the integrated development of enterprise management, products, design and engineering.
“In 2016, the trend of M&A in the landscape lighting industry will be dominated by listed companies. The vertical merger of industry chain will accelerate. Intelligent lighting, creative lighting, landscape lighting will become the main target of M&A, and M&A will go international, domestic enterprise market. The status ushered in a rapid increase." Dr. Zhang Xiaofei said.
On September 30th, Mingjiahui also issued an announcement on signing the cooperation framework agreement, the lighting of the “Lighting + Cultural Tourism†project in Yumen City, Gansu Province, lighting, landscape lighting, road lighting, VR tourism project All-round strategic cooperation has carefully created a domestic and even world-class lighting night landscape and China's leading VR tourism lighting show project.
The company and the Yumen Municipal People's Government of Gansu Province signed the Cooperation Framework Agreement on September 28, 2016. The total amount of the agreement is estimated to be RMB 300 million.
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