Li Xuliang frankly ignores the capital rules and will strengthen the adjustment of product structure in the future.

In an interview with the media, Li Xuliang, chairman of Qinshang Optoelectronics, revealed that the recent media questioned that Qinshang Optoelectronics may have a fictitious performance event, and Qinshang Optoelectronics has already submitted a verification report to the CSRC. He also said that employee flyers are a common phenomenon in the LED industry. In the future, Qinshang Optoelectronics will strengthen its awareness of information disclosure and timely disclose related transactions.

Neglect capital rules
“Like me, most LED industry entrepreneurs are engaged in technology research and development and market cultivation all day long. The understanding of capital market rules is almost blank. In order to expand customers faster and seize the market, the company encourages market resources. Employees can set up their own or form a company with partners to undertake LED engineering projects.” Li Xuliang insists that the transaction being questioned is real and is not a fictitious performance for listing.

Earlier media reports pointed out that before Qinshang Optoelectronics went public in 2011, there were cases where internal employees set up companies outside the company to purchase products from Qinshang Optoelectronics and become large customers and fictitious sales. Established on October 8, 2010, Guangdong Pinshang Optoelectronics Technology Co., Ltd. (hereinafter referred to as “Pin Shang Optoelectronics”) signed a “sales contract” with Qinshang Optoelectronics only after 17 days of registration. The total contract amount is 103 million yuan. . Huang Canguang, who once worked as a manager of the development department of Qinshang Optoelectronics, once served in Pinshang Optoelectronics, "I have become a big customer."

Qinshang Optoelectronics issued a clarification announcement on April 1st: "Qinshang Optoelectronics has a relationship with Pinshang Optoelectronics. Transactions in 2010 and 2011 should be identified as connected transactions. The transactions between Qinshang Optoelectronics and Barton Lighting are also Related transactions.” The announcement also stated that it was not disclosed in the prospectus that the products of Shangshang Optoelectronics, Barton Lighting, Huang Canguang and Jia Guangping, and their relationship with the Company were mainly due to the negligence of the Company and related personnel. As a result, the provisions on information disclosure and related party transactions are insufficiently understood, the awareness of information disclosure is not strong, and the management of employees' external investment and part-time work is not in place.

“Checking the clarification of the situation in the announcement, or the conclusion of the supervision,” Li Xuliang said frankly. “We did not disclose the transaction with our employees and the employees of the employees who were employees, or the employees who acted as shareholders. This is indeed The company's mistakes."

“In the early days, LED marketing was a typical order-oriented project. Regardless of white cats and black cats, it was a good cat to catch mice. Employees were working part-time and purchasing products after the project was very common. But they neglected the game in the securities market. The rule is the mistake of Qinshang Optoelectronics.” Li Xuliang told reporters that it is a common situation in the industry to allow market resource employees to form a company to undertake LED engineering projects before listing.

Adjust product structure
There are three main types of early sales models of Qinshang Optoelectronics, namely engineering direct sales, sales through holdings, shareholding companies and third-party sales.

It is worth noting that from 2008 to the first half of 2011, Qinshang’s domestic sales customers will only appear once. Customers such as "returning lights" also make people doubt the authenticity of their income.

Li Xuliang said that the frequent changes of major customers are the industry phenomenon of the LED industry: "Many outdoor projects are one-time trading. The service life of LEDs is more than five years. Projects are generally conducted through one-off bidding, so it is necessary to maintain the same customers. Very difficult."

Some people in the lighting industry told this newspaper that for some government procurement projects, for example, the installation of a street lamp for a certain road is likely to be a one-time expenditure, and may be paid to the maintenance cost of the photoelectric, but the cost is small. He believes that according to Qinshang Optoelectronics' "factory incubation" plan, Qinshang Optoelectronics can directly open factories in the local area, and local governments have local protection for emerging industries such as LED. If it is not a local enterprise, it is difficult to obtain large local orders. Shangguang has a rapid expansion in this way. Different from the fact that a considerable number of LED companies in China rely on exports, the factory incubation plan of Qinshang Optoelectronics is essentially dependent on local government orders.

Huang Guanzhi, vice chairman of Qinshang Optoelectronics, told reporters that in the future, he hopes to stabilize and solve the problem of instability of big customers by adjusting the product structure. “Outdoor products, engineering projects, customers only go with the project, but like civilian products, indoor products are relatively stable, and in the future we will increase the capital and channel investment in indoor lighting products.”

Qinshang Optoelectronics released its 2013 results forecast. During the reporting period, the company's operating income increased by approximately 35% to 45% year-on-year. The net profit attributable to shareholders of listed companies increased by approximately 30% to 40% year-on-year to reach 28.04 million to 3020. Ten thousand yuan.

(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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