Foshan Lighting New Energy Road is still full of thorns

The "Important Announcement" from Foshan Lighting recently stated that Foshan Lighting Co., Ltd. Hefei Guoxuan Gaoke Power Energy Co., Ltd. (hereinafter referred to as Hefei Guoxuan) is planning a backdoor listing and intends to realize the securitization of Hefei Guoxuan. This news has once again brought attention to the new energy projects that Foshan Lighting has decided to cut down. If Hefei Guoxuan is listed successfully, it will bring good benefits to Foshan Lighting. However, industry insiders predict that Foshan Lighting has decided to return to the main industry lighting, and the new energy project has not changed its direction.
Entering new energy As early as 2010, Foshan Lighting sought to transform into new energy, which once attracted investors' pursuit. In 2010, Foshan Lighting first entered Hefei Guoxuan, and spent RMB 160 million to acquire the 20-share stake in Hefei Guoxuan Gaoke Power Energy Co., Ltd. Foshan Lighting’s former chairman, Zhong Xincai, even said that when he entered the new energy strategy in 2010, when you saw the results of new energy, it was the day I left. Its determination to enter the new energy field is evident.
According to the data, Hefei Guoxuan was established in 2006. It is mainly engaged in research, development, production and sales of power battery products, including lithium ion battery materials and lithium iron phosphate cathode materials. It has been used in new energy vehicles and electric bicycles. , wind and solar complementary street lights, large energy storage base station applications. At the beginning of its establishment, the controlling shareholder was Zhuhai Guoxuan Trading Co., Ltd., holding 58.
After joining Hefei Guoxuan, Foshan Lighting began to deploy in the new energy field. In the same year, Foshan Lighting and Hefei Lixin Energy Materials Co., Ltd. jointly established Qinghai Foshao Lithium Battery Co., Ltd., Foshan Lighting invested RMB 25.5 million, and subscribed for 25.5 million shares, accounting for 51% of the total share capital.
The road to new energy spreads throughout the city. In April 2011, Foshan Lighting signed an agreement with Hefei Guoxuan to jointly establish Guangdong Fozha Guoxuan Power Battery Co., Ltd., each of which invested 25 million to build a new company. However, the data show that in 2011, Foshan Lighting's one-year-old Buddha Lithium Energy and Buddha Lithium Lithium Battery positive materials lost 21.03 million yuan and 2.94 million yuan respectively, and Fozhao Guoxuan Power only slightly earned 87,000 yuan. In the Hefei Guoxuan, the two parties agreed that the average annual profit of the company from July 2010 to June 2013 was 100 million yuan, that is, the net profit for the three years was 300 million yuan, and the actual completion was 319 million yuan.
As the investment in the new energy sector reached at least 200 million, and the investment project recovery cost period was too long, Foshan Lighting's transformation of new energy was questioned. Foshan Anxin Securities analysts said that Foshan Lighting's new energy concept was popular in the market, and its share price rose from 15 yuan in September 2009 to over 15 yuan, and the biggest increase nearly doubled. However, after years of operation, no profit has been seen, and the company's new energy industry has begun to be abandoned by investors.
Foshan Lighting suffered a series of unsatisfactory encounters on the road of new energy expansion. Last year, the first pure electric bus line of Foshan originally planned to be opened by Foshan Lighting was aborted due to immature technology. At this time, Foshan Lighting's former chairman, Zhong Xincai, also fell into the whirlpool of connected transactions.
Until Zhong Xin was retired, the new coach Pan Jie became a successor. Half a month later, Foshan Lighting issued an announcement. The company decided to liquidate and cancel Guangdong Fozhao Guoxuan Power Battery Co., Ltd., and intends to transfer all 51 shares of Qinghai Fozha Lithium Electrode Materials Co., Ltd. The move aims to reinforce the business direction associated with lighting, thereby reducing corporate losses. This is seen as a sign that Foshan Lighting has retired new energy non-profit projects.
In fact, Foshan Lighting considered retreating Hefei Guoxuan as early as 2012. In the same year, Foshan Lighting planned to transfer the shares of Hefei Guoxuan 17.21 (after the capital increase and dilution) to Xiamen Jingdao Tianneng Power Equity Investment Partnership and Anhui Ouqiu Haitai Investment Partnership for a price of 256 million yuan. Only the last equity transfer mentioned above has aroused the concern of the Shenzhen Stock Exchange, requiring it to explain the six major problems of competition in the same industry, performance and gambling. In addition, the company's board of directors and Hefei Guoxuan disagreed on the compensation arrangements for which the performance commitments were not completed, and the company's board of directors rejected the equity transfer.
Hefei Guoxuan completed the shareholding system reform in November 2012, but with the IPO closure in 2013 and the CSRC's current suspension of IPO filing materials, Hefei Guoxuan had to adopt a back-to-back tactic for backdoor listing. The listing news from Hefei Guoxuan also made the participation of Foshan Lighting in an accident.
Foshan Lighting, the LED price killer, said in the announcement that the company holds a stake of Hefei Guoxuan 14.8361. The listing of Hefei Guoxuan is currently only in the planning stage. There is still uncertainty about the success of the company. Prudent investment.
However, relying on the new energy concept stocks, once Hefei Guoxuan is listed successfully, Foshan Lighting will also benefit from investors' respect for new energy. The company's profit at the end of the year will also become the profit point of Foshan Lighting. Unintentional willow or shade. If there is no accident, Foshan Lighting should have cleaned up the remaining new energy projects, but Hefei Guoxuan may be just a coincidence. At present, as far as I know, the company's main energy and business have been placed on LED lighting. A person in charge of a company in Foshan and Foshan Lighting has told reporters.
At present, Foshan Lighting LED bulbs have entered the market in large quantities, with sales reaching 12 million/month, which has once again become a hot topic in the Foshan lighting industry. Foshan lighting LED bulbs can sell for 3 yuan, our similar products have to be more than 10 pieces, Foshan lighting is too powerful. The person in charge of the company said that with the LED lighting market pulling this year, Foshan Lighting is playing the role of price killer.

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