“When the news of corporate closures continued to emerge in the downstream, Sanan Optoelectronics did not fear the risks and played aggressive sales.†On December 9, investors expressed a rapid increase in Sanan Optoelectronics’ accounts receivable and notes receivable. Worried. A financial analyst said that in the case of a cold current downstream of the LED chip, the company's aggressive sales are facing huge risks and may face difficulties in returning funds. And the company's aggressive sales move may be for Baoding.
According to the company's financial report, since the beginning of 2012, Sanan Optoelectronics's receivables have soared. At the beginning of 2012, its bills receivable amounted to approximately 114 million yuan. As of the end of the third quarter, its bills receivable soared to 786 million yuan; the company's accounts receivable at the beginning of this year was about 465 million yuan, and as of the end of the third quarter, the company should The collection was about 1.492 billion yuan.
In the first three quarters of this year, Sanan Optoelectronics' accounts receivable and receivables increased by approximately 1.027 billion yuan. In the same period, its operating income was approximately 2.353 billion yuan, and its accounts receivable and bills receivable accounted for 43.65% of the operating income for the same period.
Sanan Optoelectronics's receivables surged, creating a huge contrast with other companies in the industry.
According to statistics from the reporters, in the first three quarters of this year, the receivables of Ganzhao Optoelectronics, Huacan Optoelectronics and Silan Micro (the sum of accounts receivable and notes receivable) accounted for 39.13% of the operating income in the same period, respectively. 8.21%, 3.27%. Sanan Optoelectronics is the highest among several major LED chip companies in China.
In the third quarterly report of Ganzhao Optoelectronics, its notes receivable increased from RMB 45 million at the beginning of the period to RMB 94 million at the end of the third quarter, of which RMB 32 million was increased in the first half of the year and RMB 17 million in the third quarter. From the beginning of the period of 219 million yuan to 277 million yuan at the end of the third quarter, of which accounts receivable increased by 55 million yuan in the first half of the year, only increased by 0.03 billion yuan in the third quarter, it can be seen that the dry photo photoelectric tightening in the second half of the year The credit sales force. Among the 672 million yuan bills receivable increased by Sanan Optoelectronics in the first three quarters of this year, there were 360 ​​million yuan in the third quarter of this year.
At the same time as Sanan Optoelectronics played aggressive sales, since the beginning of 2012, nearly 40% of LED packaging companies in the packaging industry downstream of the LED chip industry have faced bankruptcy, and news of corporate closures has emerged from time to time.
Jing Xiaoyong, a senior financial expert, told reporters that under such circumstances, the company bears certain risks. "The sharp increase in receivables may be related to industry characteristics. However, large companies and small companies generally have advantages." .
Comparable data shows that Huacan Optoelectronics' prepayments for the first three quarters of 2012 were almost negligible, while Ganzhao Optoelectronics' prepayments for the first three quarters were about 4.9 million, and Sanan Optoelectronics was about 5.1 million, which is a huge amount with these companies. The collection is in stark contrast. "This shows that the downstream is tighter and there is no money to pay him in advance." Jing Xiaoyong said.
A financial analyst analyzed that in the case of a cold current in the downstream of the industrial chain, Sanan Optoelectronics' aggressive sales behavior faced a huge risk of returning money, and the motivation to promote its risk-taking may be to increase.
Data show that in April 2011, Sanan Optoelectronics announced that it plans to open additional shares of no more than 210 million shares, raising no more than 8 billion yuan, all for Anhui Sanan Optoelectronics Co., Ltd. Wuhu Photoelectric Industrialization (Phase II) project and Anhui III An Optoelectronics Co., Ltd. LED application product industrialization project. The issuance plan was approved by the shareholders' meeting in May 2011. In September, the company's board of directors decided to adjust the total amount of funds raised to no more than 6.3 billion yuan. On April 18 this year, it announced that the resolution of the public offering will be extended for one year. In the case of the recent stock price decline, several executives of the company have increased their holdings of the company's stock by more than 600,000 shares.
As of press time, the telephone number of the relevant person in the company's securities department has not been able to get through.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
According to the company's financial report, since the beginning of 2012, Sanan Optoelectronics's receivables have soared. At the beginning of 2012, its bills receivable amounted to approximately 114 million yuan. As of the end of the third quarter, its bills receivable soared to 786 million yuan; the company's accounts receivable at the beginning of this year was about 465 million yuan, and as of the end of the third quarter, the company should The collection was about 1.492 billion yuan.
In the first three quarters of this year, Sanan Optoelectronics' accounts receivable and receivables increased by approximately 1.027 billion yuan. In the same period, its operating income was approximately 2.353 billion yuan, and its accounts receivable and bills receivable accounted for 43.65% of the operating income for the same period.
Sanan Optoelectronics's receivables surged, creating a huge contrast with other companies in the industry.
According to statistics from the reporters, in the first three quarters of this year, the receivables of Ganzhao Optoelectronics, Huacan Optoelectronics and Silan Micro (the sum of accounts receivable and notes receivable) accounted for 39.13% of the operating income in the same period, respectively. 8.21%, 3.27%. Sanan Optoelectronics is the highest among several major LED chip companies in China.
In the third quarterly report of Ganzhao Optoelectronics, its notes receivable increased from RMB 45 million at the beginning of the period to RMB 94 million at the end of the third quarter, of which RMB 32 million was increased in the first half of the year and RMB 17 million in the third quarter. From the beginning of the period of 219 million yuan to 277 million yuan at the end of the third quarter, of which accounts receivable increased by 55 million yuan in the first half of the year, only increased by 0.03 billion yuan in the third quarter, it can be seen that the dry photo photoelectric tightening in the second half of the year The credit sales force. Among the 672 million yuan bills receivable increased by Sanan Optoelectronics in the first three quarters of this year, there were 360 ​​million yuan in the third quarter of this year.
At the same time as Sanan Optoelectronics played aggressive sales, since the beginning of 2012, nearly 40% of LED packaging companies in the packaging industry downstream of the LED chip industry have faced bankruptcy, and news of corporate closures has emerged from time to time.
Jing Xiaoyong, a senior financial expert, told reporters that under such circumstances, the company bears certain risks. "The sharp increase in receivables may be related to industry characteristics. However, large companies and small companies generally have advantages." .
Comparable data shows that Huacan Optoelectronics' prepayments for the first three quarters of 2012 were almost negligible, while Ganzhao Optoelectronics' prepayments for the first three quarters were about 4.9 million, and Sanan Optoelectronics was about 5.1 million, which is a huge amount with these companies. The collection is in stark contrast. "This shows that the downstream is tighter and there is no money to pay him in advance." Jing Xiaoyong said.
A financial analyst analyzed that in the case of a cold current in the downstream of the industrial chain, Sanan Optoelectronics' aggressive sales behavior faced a huge risk of returning money, and the motivation to promote its risk-taking may be to increase.
Data show that in April 2011, Sanan Optoelectronics announced that it plans to open additional shares of no more than 210 million shares, raising no more than 8 billion yuan, all for Anhui Sanan Optoelectronics Co., Ltd. Wuhu Photoelectric Industrialization (Phase II) project and Anhui III An Optoelectronics Co., Ltd. LED application product industrialization project. The issuance plan was approved by the shareholders' meeting in May 2011. In September, the company's board of directors decided to adjust the total amount of funds raised to no more than 6.3 billion yuan. On April 18 this year, it announced that the resolution of the public offering will be extended for one year. In the case of the recent stock price decline, several executives of the company have increased their holdings of the company's stock by more than 600,000 shares.
As of press time, the telephone number of the relevant person in the company's securities department has not been able to get through.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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