[Text|High-tech LED reporter Luo Shenghua Zhao Hui] When the LED industry integration into the "deep water zone", the acquisition has become the best choice for some weaker enterprises. For listed companies that conduct acquisitions, LED companies are now more likely to get the most out of the best price at the most favorable price.
Following the announcement in November that it acquired the Beijing display company Caiyida for 37.61 million yuan, Qinshang Optoelectronics, which took 1.612 billion yuan in cash, also accelerated its acquisition.
On December 9, Qinshang Optoelectronics (002638.SZ) announced that it would acquire Shenzhen United Juchuang Technology Development Co., Ltd. (“Juchuang Technologyâ€) with a total of no more than RMB 300 million in its own funds. Lighting Co., Ltd. (referred to as "one shouting lighting") and Shenzhen Wancheng Energy Saving Co., Ltd. (referred to as "Wancheng Energy Saving") three companies.
The generous acquisition behavior really explains what is “rich is willfulnessâ€.
Channel competition is the key point. “From a strategic point of view, we are still expanding to downstream channels. These three companies, in addition to Shenzhen’s display companies (Juchuang Technology), have the advantage of the other two through the acquisition. The behavior is conducive to the company's channel resources to be further deepened." Qinshang Optoelectronics Secretary secret section cast in an interview with the "High-tech LED" reporter, said.
Since 2013, the expansion of downstream channels has been the strategic planning focus of Qinshang Optoelectronics. From the perspective of the entire LED lighting industry, the current domestic high-quality channel vendors have been basically divided by several traditional lightings such as Op, NVC, Sanxiong, Philips, and Sunlight. It is not easy for emerging LED companies to share a piece of cake. .
However, as LED lighting competes in the “deep water zoneâ€, whether or not it has channel resources determines whether the company can enter the next competitive battlefield. As a listed company with strong financial strength, Qinshang Optoelectronics wants to have advantages in the future competition, and robbing channel resources has become their primary goal.
In August of this year, after NVC lighting infighted, Qinshang Optoelectronics released the "red-headed document" to mobilize the full force to snatch the NVC lighting dealers is a very obvious example.
However, in the process of robbing dealer resources, LED companies still have uncertain risks in terms of products that cannot match channels and low brand credibility.
"At present, the channel resources we obtained through acquisitions are still far from enough compared with the traditional lighting giants. We will increase the acquisition intensity. The target of the acquisition is mainly concentrated in enterprises with certain channels." Duan Zhu stressed.
According to the "High-tech LED" reporter, at the beginning of this year, Qinshang Optoelectronics began to look for acquisition targets. At that time, the conditions for selecting acquisition targets were given. The first category was traditional lighting companies with channel advantages. The second category was LEDs. Lighting companies, with annual sales of several hundred million yuan, the third category is LED companies with technological advantages, as well as energy-saving service companies.
The reporter learned through investigation that the three companies that Qinshang Optoelectronics acquired this time basically conformed to the M&A target of Qinshang Optoelectronics.
The main business of Juchuang Technology is mainly based on display screens, which has certain advantages in engineering channels. The engineering channel has always been the traditional advantage of Qinshang Optoelectronics, and the two match.
Wancheng Energy Saving is the first company in the industry to combine lighting and financial services, and has successfully implemented lighting energy-saving renovation projects including the promotion of department stores. At the beginning of this year, Qinshang Optoelectronics announced that it will carry out channel model innovation and implement a channel operation model based on EMBT, PPP and EMC.
A shouting lighting started operation in 2011, and opened up the domestic market with a model of monopoly franchise and chain distribution. The product positioning is low-end and currently focuses on LED circulation products. As of October this year, there were about 100 specialty stores, mainly distributed in first- and second-tier cities in China, and in recent years they sank to third- and fourth-tier cities.
The main shareholder who shouted was the pilot lighting and a shouting of lighting. The main product support during the development period was the pilot lighting. The company itself is not engaged in production, mainly positioned to open up the market with brand chain monopoly.
“A shout is a very high-quality company. In the channel, although it was only established in 2011, the channel model has been innovating and the development speed is very fast.†Duan Zhu explained.
Integration effect to be verified <br> <br> three quarterly data show that this year, Kingsun first three quarter revenues reached 821,051,700 yuan, an increase of 2.38%, attributable to shareholders of listed companies net profit of 91.2688 million yuan, an increase of 3.89%.
Compared with the performance of other listed companies in the LED lighting industry, Qinshang Optoelectronics' development in 2014 is relatively slow, especially in the channel expansion of the indoor lighting business.
It is not difficult to understand the competition for the resources of Qinshang Optoelectronics, which has a cash flow of up to 1.612 billion yuan.
The acquisition behavior helps the listed company to directly control the channel resources of the acquired company, but the positioning of the acquirer will have a direct impact on the effect achieved by the acquisition, and whether it can achieve the effect of 1+1 greater than or equal to 2, See the effect of the two sides running in.
The reporter's investigation found that the channel model of lighting innovation has made the channel development very rapid. A shouting of lighting has always been positioned in the middle and low end of the circulation field. The lower unit price of its products helps to open the market quickly. For example, after taking over, it can increase the added value of products, and the popularity of the company as a listed company will greatly enhance the distribution. Business confidence. Although the final effect after the acquisition is still open to question, it is beneficial to Qinshang Optoelectronics from the perspective of the cost of the acquisition and the expected benefits.
"Through the M&A case of LED industry this year, Qinshang Optoelectronics is indeed the one with the least cost and the most cost-effective one. After all, many LED companies are now in a tight flow of funds, and they are anxious to wait for their efforts. It is easier to talk about the preferential price," said Zhang Hongbiao, research director of the High-tech LED Industry Research Institute.
The cost of the acquisition of three companies by Qinshang Optoelectronics is no more than 300 million yuan, and the turnover of a single voice for one year is between 200 million yuan and 300 million yuan.
In particular, the shouting of lighting has always carried out a unified monopoly image during its operation. The shopkeepers have a considerable number of old employees who are from pilot lighting and shouting lighting, and have high loyalty. With the advent of LED replacement climax and the strong support of pilot lighting in circulation manufacturing, it can help enterprises quickly open the market and form a certain channel influence.
“Heping Lighting Chairman He Ping is an enterprise trader who has transformed from the traditional lighting field and is familiar with the operation mode of the lighting channel. How to operate the operation of the company, ultimately depends on the integration of the two parties†The industry insiders said that the acquisition.
Following the announcement in November that it acquired the Beijing display company Caiyida for 37.61 million yuan, Qinshang Optoelectronics, which took 1.612 billion yuan in cash, also accelerated its acquisition.
On December 9, Qinshang Optoelectronics (002638.SZ) announced that it would acquire Shenzhen United Juchuang Technology Development Co., Ltd. (“Juchuang Technologyâ€) with a total of no more than RMB 300 million in its own funds. Lighting Co., Ltd. (referred to as "one shouting lighting") and Shenzhen Wancheng Energy Saving Co., Ltd. (referred to as "Wancheng Energy Saving") three companies.
The generous acquisition behavior really explains what is “rich is willfulnessâ€.
Channel competition is the key point. “From a strategic point of view, we are still expanding to downstream channels. These three companies, in addition to Shenzhen’s display companies (Juchuang Technology), have the advantage of the other two through the acquisition. The behavior is conducive to the company's channel resources to be further deepened." Qinshang Optoelectronics Secretary secret section cast in an interview with the "High-tech LED" reporter, said.
Since 2013, the expansion of downstream channels has been the strategic planning focus of Qinshang Optoelectronics. From the perspective of the entire LED lighting industry, the current domestic high-quality channel vendors have been basically divided by several traditional lightings such as Op, NVC, Sanxiong, Philips, and Sunlight. It is not easy for emerging LED companies to share a piece of cake. .
However, as LED lighting competes in the “deep water zoneâ€, whether or not it has channel resources determines whether the company can enter the next competitive battlefield. As a listed company with strong financial strength, Qinshang Optoelectronics wants to have advantages in the future competition, and robbing channel resources has become their primary goal.
In August of this year, after NVC lighting infighted, Qinshang Optoelectronics released the "red-headed document" to mobilize the full force to snatch the NVC lighting dealers is a very obvious example.
However, in the process of robbing dealer resources, LED companies still have uncertain risks in terms of products that cannot match channels and low brand credibility.
"At present, the channel resources we obtained through acquisitions are still far from enough compared with the traditional lighting giants. We will increase the acquisition intensity. The target of the acquisition is mainly concentrated in enterprises with certain channels." Duan Zhu stressed.
According to the "High-tech LED" reporter, at the beginning of this year, Qinshang Optoelectronics began to look for acquisition targets. At that time, the conditions for selecting acquisition targets were given. The first category was traditional lighting companies with channel advantages. The second category was LEDs. Lighting companies, with annual sales of several hundred million yuan, the third category is LED companies with technological advantages, as well as energy-saving service companies.
The reporter learned through investigation that the three companies that Qinshang Optoelectronics acquired this time basically conformed to the M&A target of Qinshang Optoelectronics.
The main business of Juchuang Technology is mainly based on display screens, which has certain advantages in engineering channels. The engineering channel has always been the traditional advantage of Qinshang Optoelectronics, and the two match.
Wancheng Energy Saving is the first company in the industry to combine lighting and financial services, and has successfully implemented lighting energy-saving renovation projects including the promotion of department stores. At the beginning of this year, Qinshang Optoelectronics announced that it will carry out channel model innovation and implement a channel operation model based on EMBT, PPP and EMC.
A shouting lighting started operation in 2011, and opened up the domestic market with a model of monopoly franchise and chain distribution. The product positioning is low-end and currently focuses on LED circulation products. As of October this year, there were about 100 specialty stores, mainly distributed in first- and second-tier cities in China, and in recent years they sank to third- and fourth-tier cities.
The main shareholder who shouted was the pilot lighting and a shouting of lighting. The main product support during the development period was the pilot lighting. The company itself is not engaged in production, mainly positioned to open up the market with brand chain monopoly.
“A shout is a very high-quality company. In the channel, although it was only established in 2011, the channel model has been innovating and the development speed is very fast.†Duan Zhu explained.
Integration effect to be verified <br> <br> three quarterly data show that this year, Kingsun first three quarter revenues reached 821,051,700 yuan, an increase of 2.38%, attributable to shareholders of listed companies net profit of 91.2688 million yuan, an increase of 3.89%.
Compared with the performance of other listed companies in the LED lighting industry, Qinshang Optoelectronics' development in 2014 is relatively slow, especially in the channel expansion of the indoor lighting business.
It is not difficult to understand the competition for the resources of Qinshang Optoelectronics, which has a cash flow of up to 1.612 billion yuan.
The acquisition behavior helps the listed company to directly control the channel resources of the acquired company, but the positioning of the acquirer will have a direct impact on the effect achieved by the acquisition, and whether it can achieve the effect of 1+1 greater than or equal to 2, See the effect of the two sides running in.
The reporter's investigation found that the channel model of lighting innovation has made the channel development very rapid. A shouting of lighting has always been positioned in the middle and low end of the circulation field. The lower unit price of its products helps to open the market quickly. For example, after taking over, it can increase the added value of products, and the popularity of the company as a listed company will greatly enhance the distribution. Business confidence. Although the final effect after the acquisition is still open to question, it is beneficial to Qinshang Optoelectronics from the perspective of the cost of the acquisition and the expected benefits.
"Through the M&A case of LED industry this year, Qinshang Optoelectronics is indeed the one with the least cost and the most cost-effective one. After all, many LED companies are now in a tight flow of funds, and they are anxious to wait for their efforts. It is easier to talk about the preferential price," said Zhang Hongbiao, research director of the High-tech LED Industry Research Institute.
The cost of the acquisition of three companies by Qinshang Optoelectronics is no more than 300 million yuan, and the turnover of a single voice for one year is between 200 million yuan and 300 million yuan.
In particular, the shouting of lighting has always carried out a unified monopoly image during its operation. The shopkeepers have a considerable number of old employees who are from pilot lighting and shouting lighting, and have high loyalty. With the advent of LED replacement climax and the strong support of pilot lighting in circulation manufacturing, it can help enterprises quickly open the market and form a certain channel influence.
“Heping Lighting Chairman He Ping is an enterprise trader who has transformed from the traditional lighting field and is familiar with the operation mode of the lighting channel. How to operate the operation of the company, ultimately depends on the integration of the two parties†The industry insiders said that the acquisition.
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