Guangri Electric: Want to borrow external forces to complement the short-circuit industry

[High-tech LED news / reporter Tang Guirong] On July 20, 2011, Guangzhou Iron and Steel Co., Ltd. (hereinafter referred to as Guanggang) announced that the extraordinary shareholders meeting formally reviewed and approved Guangzhou Iron and Steel Co., Ltd. and Guangzhou Guangri. Group Co., Ltd. on the Assets Replacement Agreement and other matters. At the same time, Guangri Group will simultaneously invest its two elevators and LEDs into Guanggang.

This is already the 43rd listed company in the domestic capital market involved in the LED business.

On July 23, Guangzhou Iron and Steel Co., Ltd. announced the announcement of major events again. The company received the reply from the Guangzhou Municipal Finance Bureau of the Guangzhou Municipal Finance Bureau on the financial subsidies of the Guangzhou Guangri Co., Ltd. LED project, and agreed to arrange the Guangri from the municipal finance. The special subsidy for the LED project of the company is 200 million yuan, of which 100 million yuan will be allocated in 2012 and 2013.

In just one month, with the help of Guangri Group's core assets injection restructuring and the LED concept, the company's share price rose from a low of 6.88 yuan to 9.88 yuan, an increase of nearly 50%.

As a core subsidiary of the Guangri Group, Guangzhou Guangri Electric Equipment Co., Ltd. (hereinafter referred to as Guangri Electric) has performed well in the elevator business. As a state-owned enterprise, Guangri Group receives strong government policy support and financial subsidies every year. According to the financial data of Guangri Electric, in 2008, 2009 and 2010, the company realized operating income of 1.426 billion yuan, 1.456 billion yuan and 1.5 billion yuan respectively.

The backdoor listing, the lightning joint venture to build the LED industrial park, and the government's 200 million yuan LED financial subsidy, Guangri Electric's determination to enter the LED industry can be described as firm. However, without any core technology, can these external forces become the "dongfeng" of Guangri Electric's transition to LED?

Lightning in hand, Hong Kong

Without any warning in advance, Guangri Electric and Hong Kong Haotian Industrial Group Co., Ltd. signed an agreement on Fuyang High-tech Zone on August 30 to jointly invest 600 million yuan to establish Guangri Haotian LED Photoelectric Industrial Park. According to the project plan, Guangri Haotian will focus on the production of LED municipal energy-saving lamps, industrial energy-saving lamps, and civilian energy-saving lamps. It is estimated that the annual sales will reach 1.5 billion yuan after the project is reached.

Guangri Electric entered the field of Led Lighting in 2008, and currently there are not many led lighting products. Haotian Industrial Hong Kong Co., Ltd. is the overseas sales department of Heilongjiang Fusen Wood Industry Co., Ltd. Judging from past performance, the two companies are not very prominent in the LED lighting market, and their cooperation is generally regarded as a weak combination.

This cooperation is not the best time for both parties, but it is imminent, especially for Guangri Electric.

The cooperation project with Haotian’s 600 million yuan can be described as “a strong shot” for Guangri Electric. Although the funds invested by Haotian can help Guangri Electric, but still can not solve its persistent problems - no LED core technology. Once the standardized production workshop, product assembly line and inspection complex are completed in the future, if there is no independent core technology and featured products, it will be like an empty shell.

At present, the biggest problem facing Guangri Electric, which started with elevators, in the field of LED lighting is how to find its own positioning.

According to the reporter, in 2010, the company's LED lighting products sales were less than 20 million. Relevant people revealed in an interview with Gaogong LED reporter: "Guangri Electric has entered the LED lighting industry for a short period of time, lacking market and technology accumulation. Although the company wants to focus on LED lighting, it is still unable to clearly propose development ideas, but choose Blindly follow the market trend."

In the same situation as Guangri Electric, there is another elevator manufacturer in Hangzhou, Hangzhou Xizi Elevator Group.

At the beginning, Xizi Elevator Group and Otis jointly established Xizi Otis, and its elevator performance ranked third in the industry. Guangri Group and Hitachi jointly established Guangri Hitachi Elevator, which was later renamed as Guangri Elevator, ranking second in the industry. Can be described as a strong opponent.

At the end of 2008, Xizi Elevator Group established Xizi Optoelectronics Technology Co., Ltd., hoping to seize market share with its strong brand advantage and financial support for its elevator business. However, the situation has changed. In 2011, the performance of Xizi Optoelectronics LED lighting dropped sharply. A group of core technical engineers and market personnel left the company one after another. Xizi Optoelectronics was finally merged into Xizi Youmai Technology Co., Ltd. under the Xizi Group. In addition to being affected by the weak market for LED terminal applications, the parent group is also an important factor because of the severe traffic accidents caused by this year's severe elevator series.

In recent years, large traditional enterprises such as Guangri Group and Xizi Elevator Group have invested in the development of LED lighting business in order to improve their industrial chain and realize industrial transformation. "They lack technology to lack money. To some extent, blindly choosing the LED industry for large investments is burning money." An industry insider told Gao Gong LED reporters, "When your main business is unstable, The new business will be handled in a one-size-fits-all manner. More include BYD, Poly GCL, etc. The LED lighting business has suffered due to the ups and downs of the Group's main business."

Xizi Optoelectronics and Guangri Electric are involved in the field of LED lighting almost simultaneously. The difference is that Xizi Optoelectronics has cultivated the market earlier and has its own core technology. Its “Modular Field Tool-Free Maintenance Street Lamp” and “Global Light Efficiency 118.7 lm/w Lighting Product” were once on the market. Widely acclaimed.

In contrast, Guangri Electric, from last year to this year, its "LED panel lights", "second generation LED street lights" did not form much product features. According to insiders of Xizi Optoelectronics, Guangri Electric's LED street light technology is also imitating Xizi Optoelectronics.

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