The new three board, known as "China's Nasdaq", has attracted more and more attention from the industry as a hotspot in recent years. According to the author's statistics, there are more than 100 related companies in the LED lighting industry. As a new platform for the transfer of shares of small and medium-sized enterprises, the New Third Board has also become a path for many small and medium-sized enterprises in the LED lighting industry that do not currently have the conditions for listing on the main board to realize financing and mergers and acquisitions.
From the above table, among the new three-board LED lighting enterprises, Guangdong enterprises are far ahead, with a total of 44; among them, Shenzhen enterprises are the top ones, with 24 in total. 66% of the enterprises are led lighting application companies, others are mainly led lighting supporting enterprises.
In terms of revenue, in 2015, enterprises above designated size (more than 20 million) accounted for 83% of the total, of which over 100 million enterprises accounted for 33% of the total, and the polarization was obvious. Among them, the company with the highest annual revenue was close to 1 billion, and the revenue was close. The lowest companies only exceeded 5 million thresholds; companies with revenue growth of 76% accounted for 76% of the year-on-year growth. In the first half of 2016, the year-on-year growth in revenue fell to 67%.
In terms of net profit, the profit margin of most enterprises is less than 10%, of which 19% of corporate profits in 2015 are negative, and 43% of enterprises have negative profit growth; in the first half of 2016, 22% of corporate profits are negative, 44% The corporate profits are negative, and most of them are small-scale enterprises with lower revenues.
Affected by the sluggish economic situation and the fierce competition of the industry environment, the overall operating conditions of the new three-board LED lighting enterprises are not optimistic.
The advantage of the new lighting board listed in the led lighting enterprise is that it can regulate the operation of the enterprise, improve the corporate governance structure, improve the management level of the enterprise, and also help to enhance the brand influence of the enterprise and promote market development. At the same time, because the shares can be publicly transferred, to some extent Increased liquidity of assets; and it is possible to rely on the published good performance to introduce strategic investors, thereby enhancing corporate value; more local governments will give local companies access to the New Third Board in various forms of incentives and subsidies.
The limitation is that landing on the New Third Board means that the entrepreneurs will be publicly announced in advance, the concept will be exhausted, and the backhand will be weak. At present, the liquidity of the New Third Board market is obviously insufficient, and the valuation is relatively low. There is also a turn that is considered to be a curve to save the country. The board system is not clear today.
Therefore, the author believes that the stratification trend of the new three boards will become more and more obvious in the future. A few companies with good performance and core competitiveness have opportunities, and more enterprises are only passengers in the capital tide.
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