Separate auditing system to launch a listed company or a new wave of LED mergers and acquisitions

[High-tech LED reporter Zhao Hui] Today, the IPO has been suspended for nearly a year, and a group of companies that originally hoped to raise funds for listing will be helpless, and the investment institutions that have invested heavily in the previous period cannot pass the IPO. Implement the exit. Mergers and acquisitions have undoubtedly become the theme of this year.

Recently, the China Securities Regulatory Commission said that the long-awaited M&A heavy-duty review system will be officially implemented on October 8. According to the regulations of the China Securities Regulatory Commission, mergers and acquisitions of listed companies from the nine major industries that meet the three major standards will be able to enter the exemption/quick review channel. This means that a new wave of mergers and acquisitions is about to start.

The CSRC stipulates that enterprises eligible to enter the “exempt/fast” audit channel must belong to nine key industries: “automobile, steel, cement, shipbuilding, electrolytic aluminum, rare earth, electronic information, medicine, agricultural industrialization leading enterprises”. The transaction type belongs to the same industry or upstream and downstream mergers and acquisitions, and does not involve backdoor listing.

The LED industry listed companies, which are sub-industries of the electronic information industry, will undoubtedly adopt new policies to accelerate the pace of mergers and acquisitions.

"The division of the system will greatly facilitate the quality of listed companies through mergers and acquisitions to further enlarge and strengthen, a new round of mergers and acquisitions climax is coming." Brokers analysts said that the current LED industry companies, but not yet formed a real With the large-scale aircraft carrier-class enterprise, LED listed companies can carry out mergers and acquisitions between upstream and downstream, and strive to become bigger and stronger.

According to the statistics of the website of the China Securities Regulatory Commission, among the companies with LED-related business as their main business, the list of IPOs that have been terminated for review in 2013 is Dalian Luming Lighting Technology Co., Ltd., Yunnan Lanjing Technology Co., Ltd., Beijing. Jinlixiang Art Color Technology Co., Ltd., Shengdi Optoelectronics Technology Co., Ltd., Shenzhen Cuitao Automation Equipment Co., Ltd. and other six LED companies.

These “helpless” withdrawal orders and IPO filing companies that have been rejected can achieve alternative listings by means of mergers and acquisitions.

For LED listed companies, through the issuance of mergers and acquisitions, it is also possible to pass the rapid review channel.

For example, the acquisition of Mairui Optoelectronics by Furi Electronics (600203.SH), if the Furi Electronics Shareholders' Meeting passes the relevant additional issuance proposal, it can be reviewed by the Securities and Futures Commission in a short time through the quick review channel.

In the case of rapid growth in LED lighting demand in 2013, many established LED companies and new listed companies entering the LED industry have rapidly seized market share, and have adopted resource expansion, mergers and acquisitions and strategic cooperation to integrate resources and strive to flourish in the lighting market. Take a slice of the development.

“Enterprise newspaper materials enter the listing review period, and it is no longer possible to accept the investment of external funds, especially venture capital. In the period when the industry exceeds the expected rapid development, these listed companies often need funds to expand production capacity and make a future The layout." Dr. Zhang Xiaofei believes that mergers and acquisitions can be said to be the best choice at the moment.

The divisional system audit will greatly shorten the time for the CSRC to review and approve, and provide a strong guarantee for LED companies to accelerate integration and become bigger and stronger.

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