Lianchuang Optoelectronics (600363)'s private placement plan was submitted to the shareholders' meeting on February 27 for consideration. The four proposals agreed that the proportion of votes was almost 2/3 of the red line. Regarding the obvious differences between shareholders, the company acknowledged that it was related to the fundraising project and expressed confidence in doing it well.
Four proposals go through the dangers
On February 27th, Lianchuang Optoelectronics held a general meeting of shareholders to consider the proposal related to the revised private placement plan. There were 219 shareholders with voting rights, and only 5 people attended the on-site meeting. Most of them participated in the online voting.
There are four proposals in the motion, which are respectively the “Proposal on Adjusting the 2011 Non-Public Issuance of A Shares Planâ€. The voting results showed that the agreed votes of the four proposals were 39.526 million shares, 38.999 million shares, 38.62 million shares, and 38.929 million shares, accounting for 69.82%, 68.18%, 68.22%, and 68.18% of the valid voting shares. Since the proposal requires the approval of 2/3 (66.67%) of the shareholders who have absolute voting rights in the shareholders' meeting, the above results can be described as thrilling.
Fixed price increase twice
In fact, Lianchuang Opto's fixed-income program has undergone two revisions. At the time of the first revision, there were many shareholders who voted against and abstained.
The reporter noted that Lianchuang Optoelectronics's plan for the increase was launched on July 8, 2011. The company intends to issue no more than 63 million shares to a specific investor of no more than 10 including the controlling shareholder Jiangxi Electronics Group. The issue price is 10.10 yuan/share, and the total amount of funds raised is not more than 636 million yuan. The infrared monitoring system uses four projects such as LED epitaxial materials, chip and device industrialization.
Unexpectedly, on November 7, 2011, Lianchuang Optoelectronics revised the fixed-increasing plan. In the amendment, the additional issue price was reduced from “10.10 yuan/share†to “8.00 yuan/shareâ€, and the number of issuances increased from “no more than 63 million shares†to “no more than 79.53 million sharesâ€. The reason for the adjustment was “the market situation occurred†Variety".
On February 9, 2012, Lianchuang Optoelectronics once again revised the issuance plan based on the “change in market situationâ€: the issue price was reduced from “8.00 yuan/share†to “6.31 yuan/shareâ€, and the number issued was “notâ€. More than 79.53 million shares were raised to "not more than 100.8 million shares." After the revision, there will be a vote on February 27. After two revisions, the additional price of Lianchuang Optoelectronics dropped from the initial 10.10 yuan/share to 6.31 yuan/share, and the additional price was equivalent to a 40% discount.
Digging people to improve the technical level
How can there be such a big difference in the fundraising project of Lianchuang Optoelectronics? The program shows that the "semiconductor lighting source industrialization project" mainly produces LED street lamps, tunnel lights, etc., to realize the industrialization of LED road lighting and LED Indoor Lighting sources; "LED device industrialization project for semiconductor lighting sources" is for the production of semiconductor lighting Hi-Power structure, TOP structure high-brightness chip LED device; "Power-type infrared monitoring system LED epitaxial material, chip and device industrialization project" is mainly to form an LED device with an annual output of 2 billion power-type infrared monitoring system ability.
The outside world pointed out that LED street lights and tunnel lights mainly rely on government procurement; the price of LED fluorescent lamps is several times that of ordinary fluorescent lamps, and it is difficult to industrialize in the short term. Domestic companies do not have the competitive advantage of chips and epitaxial wafers. Wu Changjiang, chairman of NVC Lighting, once said that Lianchuang Optoelectronics will not invest in LED chips because it is an international giant. The "LED device industrialization project for semiconductor lighting sources" belonging to the package has a low threshold, low gross profit margin and fierce competition.
The related personnel of Lianchuang Optoelectronics did not agree with Wu Changjiang's views, and pointed out that it is only a matter of time before LED lights replace incandescent lamps, and they are confident that they will do a good job in fundraising projects. To this end, the company also invited an expert from other listed companies, from Shenzhen, will be the technical director in the future, but it is not convenient to disclose the name of the expert.
Four proposals go through the dangers
On February 27th, Lianchuang Optoelectronics held a general meeting of shareholders to consider the proposal related to the revised private placement plan. There were 219 shareholders with voting rights, and only 5 people attended the on-site meeting. Most of them participated in the online voting.
There are four proposals in the motion, which are respectively the “Proposal on Adjusting the 2011 Non-Public Issuance of A Shares Planâ€. The voting results showed that the agreed votes of the four proposals were 39.526 million shares, 38.999 million shares, 38.62 million shares, and 38.929 million shares, accounting for 69.82%, 68.18%, 68.22%, and 68.18% of the valid voting shares. Since the proposal requires the approval of 2/3 (66.67%) of the shareholders who have absolute voting rights in the shareholders' meeting, the above results can be described as thrilling.
Fixed price increase twice
In fact, Lianchuang Opto's fixed-income program has undergone two revisions. At the time of the first revision, there were many shareholders who voted against and abstained.
The reporter noted that Lianchuang Optoelectronics's plan for the increase was launched on July 8, 2011. The company intends to issue no more than 63 million shares to a specific investor of no more than 10 including the controlling shareholder Jiangxi Electronics Group. The issue price is 10.10 yuan/share, and the total amount of funds raised is not more than 636 million yuan. The infrared monitoring system uses four projects such as LED epitaxial materials, chip and device industrialization.
Unexpectedly, on November 7, 2011, Lianchuang Optoelectronics revised the fixed-increasing plan. In the amendment, the additional issue price was reduced from “10.10 yuan/share†to “8.00 yuan/shareâ€, and the number of issuances increased from “no more than 63 million shares†to “no more than 79.53 million sharesâ€. The reason for the adjustment was “the market situation occurred†Variety".
On February 9, 2012, Lianchuang Optoelectronics once again revised the issuance plan based on the “change in market situationâ€: the issue price was reduced from “8.00 yuan/share†to “6.31 yuan/shareâ€, and the number issued was “notâ€. More than 79.53 million shares were raised to "not more than 100.8 million shares." After the revision, there will be a vote on February 27. After two revisions, the additional price of Lianchuang Optoelectronics dropped from the initial 10.10 yuan/share to 6.31 yuan/share, and the additional price was equivalent to a 40% discount.
Digging people to improve the technical level
How can there be such a big difference in the fundraising project of Lianchuang Optoelectronics? The program shows that the "semiconductor lighting source industrialization project" mainly produces LED street lamps, tunnel lights, etc., to realize the industrialization of LED road lighting and LED Indoor Lighting sources; "LED device industrialization project for semiconductor lighting sources" is for the production of semiconductor lighting Hi-Power structure, TOP structure high-brightness chip LED device; "Power-type infrared monitoring system LED epitaxial material, chip and device industrialization project" is mainly to form an LED device with an annual output of 2 billion power-type infrared monitoring system ability.
The outside world pointed out that LED street lights and tunnel lights mainly rely on government procurement; the price of LED fluorescent lamps is several times that of ordinary fluorescent lamps, and it is difficult to industrialize in the short term. Domestic companies do not have the competitive advantage of chips and epitaxial wafers. Wu Changjiang, chairman of NVC Lighting, once said that Lianchuang Optoelectronics will not invest in LED chips because it is an international giant. The "LED device industrialization project for semiconductor lighting sources" belonging to the package has a low threshold, low gross profit margin and fierce competition.
The related personnel of Lianchuang Optoelectronics did not agree with Wu Changjiang's views, and pointed out that it is only a matter of time before LED lights replace incandescent lamps, and they are confident that they will do a good job in fundraising projects. To this end, the company also invited an expert from other listed companies, from Shenzhen, will be the technical director in the future, but it is not convenient to disclose the name of the expert.
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