Seeing him rise from a tall building, he watched him entertain the guests and saw that he had collapsed. Following last year’s collapse of Duolili and Bolent, the company’s legal representative and large shareholder penalized Shenzhen LED Vision Optoelectronics Co. Yi is missing.
Due to the break of the capital chain, Vision Optoelectronics has started to default on workers' wages since the beginning of this year. It has also defaulted on the construction cost of the construction of the plant. The amount of money owed to banks is as high as tens of millions of yuan. At present, the company has filed for bankruptcy. Xing Yi had issued a short message to the outside world: "Because of the serious shortage of funds, coupled with the property of the National Hung Fook, the factory was in trouble."
“Three or four years ago was the golden period of the LED display industry, but with the influx of a large number of companies, after a round of price wars, the LED display industry has now bottomed out.†Founder of Guangzhou International Lighting Exhibition, Guangya Pan Wenbo, director of the Lighting Research Institute, pointed out that the LED display industry belongs to the downstream applications of the industry. The industry's net profit rate slipped from 40% at the highest peak to 5% or even lower. SMEs are struggling to survive and transformation is imminent.
The financial crisis caused the capital chain to break "Shenzhen Vision Electronics Co., Ltd. is a high-tech private enterprise specializing in the LED display industry. It has an actual asset of more than 80 million yuan. It is currently one of the largest LED display equipment R&D and manufacturing bases in China." The vision official website introduced that in 2007 and 2008, sales reached 260 million.
However, this self-proclaimed company in the domestic LED display industry can squeeze into the top 50, two consecutive years into the industry's top five companies, but on June 29 this year suddenly declared bankruptcy.
Informed sources said that most of the factory's products are sold to Europe and the United States, the European debt crisis makes this plant sales performance bleak; and the factory moved from Phuket to Longhua, move the plant and the decoration of the new plant costs expensive, the second largest shareholder thus divestment ; Four requests for help can be loaned, the vision of the electronic capital chain breaks.
Because the factory cannot afford the rent, Guohong Property has stopped all the water and electricity, and the workers are stuck at the entrance of the Vision Industrial Park in Longhua Street. They hope to hold the factory's machinery and equipment and recover the arrears of wages.
The reporter was informed that the vision had defaulted on the wages of workers from the beginning of this year, and also owed about 380,000 yuan of construction money to the workshop. The bank’s arrears were as high as tens of millions of yuan. The vision has completely fallen into desperation and there is no "vision."
Visionary legal representative Xing Yi issued a short message to the outside world: “Because of the serious shortage of funds and the fact that the property was å¿½æ‚ , the factory was in trouble.†Xing Yi also stated that in order to repay the bank’s debt, he took out his home’s Everything, he did not do asset transfer, but also nothing, and he has left Shenzhen, hope that creditors do not harass his family.
Xing Yi is one of the two founders of Chau Ming Technology (a LED company in Shenzhen). The company was listed on the GEM last year. Xing Yi is now in debt, leaving people unprepared.
Many factors forced the death of small and medium-sized business reporters to call the office several times in the past few days. No one answered. Its official website shows "contact Chen total", the mobile phone is already empty number.
According to Lu Weiqiang, Managing Director of Guangzhou Shuaiyang Lighting, the collapse of Vision Optoelectronics was unexpected. “We only heard that this industry has high profit margins, blindly enters the market, invests, and lacks mastery of the core technologies of LED displays. Lack of technical talent, it is expected that 30%-40% of SMEs will close down this year."
The reporter learned from a number of LED display companies that most LED display companies are currently concentrated in the low-end market. More and more heavy-weight LED products are being used. 90% of companies are fighting price wars, and the vicious competition is fierce. The profit rate is as low as 5%, and the profit at the highest peak can reach 40%.
A person in the LED industry in Foshan told the newspaper that there are dealers in the warehouse, a certain Tunxing LED brand more than 300,000 yuan products, hundreds of species, some products only a few lights, but sold A year later, there was a problem with the quality of the product. The dealer complained with the above-mentioned people that the LED manufacturer's product varieties have become more and more, but the quality is not stable, and selling for half a day does not make any money, only making a pile of inventory.
Li Xiaowen, the managing director of Shenzhen Wenzhuo Green Environmental Protection Technology Co., Ltd., said that because the domestic technology level is not up to international standards, the quality of the chip after packaging in China is declining, the life expectancy is shortened, and the post-maintenance cost is very high. Therefore, LED manufacturers often just swallow. Into a sum of money will have to spit it out, the new production project also requires the manufacturers to invest, it is very easy to cause the capital chain to break. In addition to the above issues, the LED display industry is also facing the dilemma of triangular debt and narrow financing channels.
In accordance with the general rules in the industry, companies choose to write to upstream raw material suppliers, while allowing downstream customers to make payments to maintain long-term orders. In this chain of arrears of the loop, once the company's sales market is unstable or the profit space is reduced, the arrears chain will break.
Vision Optoelectronics' chief financial officer believes that the closure of the factory is largely due to the difficulty of SME loans. They once received a loan from the Bank of Hangzhou, but "the difficulties and twists and turns of the SME loans are unimaginable."
“The situation of the industry’s triangular debt is very serious, and the bank financing is not available. Once the capital chain is broken, the company cannot escape the deadlock.†said Zhang Xiaofei, director of the LED Industry Research Institute of Gaogong.
The transformation of LED lighting may not be successful "Shenzhen has more than 100 display companies with annual sales of hundreds of millions of dollars, and there may be thousands of small-scale ones. The collapse of vision electronics is only a precursor. For SMEs, this is only the beginning of the crisis. "There are people in the industry who say that, on the one hand, the LED display market is declining. On the other hand, the LED lighting market is gradually being released and the production capacity is expanding. Many domestic LED companies will focus on lighting."
Data show that at the end of 2011, the proportion of display screens in LED applications fell to 19%, while the proportion of LED lighting continued to increase, and its output value had exceeded the LED display. Listed companies such as Wanrun Technology (002654), Longfang Lighting (300301) and Jufei Optoelectronics (300303) have large investments in LED lighting.
Liu Shengping, chairman of the China Lighting Association, said that since October 1 this year, the state banned sales and imports of incandescent lamps for general lighting of 100 watts or more, LED lights and energy-saving lamps quickly replenished the market, "4 to 8 years LED lighting will gradually replace incandescent lamps, which will be a trillion market. However, Lu Weiqiang said that compared to the LED display industry, LED lighting is more intense. "The lighting and the display are very different. Those who have neither technical support nor financial strength, if blindly shifting from the LED display industry to LED lighting, it is possible that both the original market and the LED lighting field cannot be stationed. Stable footing."
Due to the break of the capital chain, Vision Optoelectronics has started to default on workers' wages since the beginning of this year. It has also defaulted on the construction cost of the construction of the plant. The amount of money owed to banks is as high as tens of millions of yuan. At present, the company has filed for bankruptcy. Xing Yi had issued a short message to the outside world: "Because of the serious shortage of funds, coupled with the property of the National Hung Fook, the factory was in trouble."
“Three or four years ago was the golden period of the LED display industry, but with the influx of a large number of companies, after a round of price wars, the LED display industry has now bottomed out.†Founder of Guangzhou International Lighting Exhibition, Guangya Pan Wenbo, director of the Lighting Research Institute, pointed out that the LED display industry belongs to the downstream applications of the industry. The industry's net profit rate slipped from 40% at the highest peak to 5% or even lower. SMEs are struggling to survive and transformation is imminent.
The financial crisis caused the capital chain to break "Shenzhen Vision Electronics Co., Ltd. is a high-tech private enterprise specializing in the LED display industry. It has an actual asset of more than 80 million yuan. It is currently one of the largest LED display equipment R&D and manufacturing bases in China." The vision official website introduced that in 2007 and 2008, sales reached 260 million.
However, this self-proclaimed company in the domestic LED display industry can squeeze into the top 50, two consecutive years into the industry's top five companies, but on June 29 this year suddenly declared bankruptcy.
Informed sources said that most of the factory's products are sold to Europe and the United States, the European debt crisis makes this plant sales performance bleak; and the factory moved from Phuket to Longhua, move the plant and the decoration of the new plant costs expensive, the second largest shareholder thus divestment ; Four requests for help can be loaned, the vision of the electronic capital chain breaks.
Because the factory cannot afford the rent, Guohong Property has stopped all the water and electricity, and the workers are stuck at the entrance of the Vision Industrial Park in Longhua Street. They hope to hold the factory's machinery and equipment and recover the arrears of wages.
The reporter was informed that the vision had defaulted on the wages of workers from the beginning of this year, and also owed about 380,000 yuan of construction money to the workshop. The bank’s arrears were as high as tens of millions of yuan. The vision has completely fallen into desperation and there is no "vision."
Visionary legal representative Xing Yi issued a short message to the outside world: “Because of the serious shortage of funds and the fact that the property was å¿½æ‚ , the factory was in trouble.†Xing Yi also stated that in order to repay the bank’s debt, he took out his home’s Everything, he did not do asset transfer, but also nothing, and he has left Shenzhen, hope that creditors do not harass his family.
Xing Yi is one of the two founders of Chau Ming Technology (a LED company in Shenzhen). The company was listed on the GEM last year. Xing Yi is now in debt, leaving people unprepared.
Many factors forced the death of small and medium-sized business reporters to call the office several times in the past few days. No one answered. Its official website shows "contact Chen total", the mobile phone is already empty number.
According to Lu Weiqiang, Managing Director of Guangzhou Shuaiyang Lighting, the collapse of Vision Optoelectronics was unexpected. “We only heard that this industry has high profit margins, blindly enters the market, invests, and lacks mastery of the core technologies of LED displays. Lack of technical talent, it is expected that 30%-40% of SMEs will close down this year."
The reporter learned from a number of LED display companies that most LED display companies are currently concentrated in the low-end market. More and more heavy-weight LED products are being used. 90% of companies are fighting price wars, and the vicious competition is fierce. The profit rate is as low as 5%, and the profit at the highest peak can reach 40%.
A person in the LED industry in Foshan told the newspaper that there are dealers in the warehouse, a certain Tunxing LED brand more than 300,000 yuan products, hundreds of species, some products only a few lights, but sold A year later, there was a problem with the quality of the product. The dealer complained with the above-mentioned people that the LED manufacturer's product varieties have become more and more, but the quality is not stable, and selling for half a day does not make any money, only making a pile of inventory.
Li Xiaowen, the managing director of Shenzhen Wenzhuo Green Environmental Protection Technology Co., Ltd., said that because the domestic technology level is not up to international standards, the quality of the chip after packaging in China is declining, the life expectancy is shortened, and the post-maintenance cost is very high. Therefore, LED manufacturers often just swallow. Into a sum of money will have to spit it out, the new production project also requires the manufacturers to invest, it is very easy to cause the capital chain to break. In addition to the above issues, the LED display industry is also facing the dilemma of triangular debt and narrow financing channels.
In accordance with the general rules in the industry, companies choose to write to upstream raw material suppliers, while allowing downstream customers to make payments to maintain long-term orders. In this chain of arrears of the loop, once the company's sales market is unstable or the profit space is reduced, the arrears chain will break.
Vision Optoelectronics' chief financial officer believes that the closure of the factory is largely due to the difficulty of SME loans. They once received a loan from the Bank of Hangzhou, but "the difficulties and twists and turns of the SME loans are unimaginable."
“The situation of the industry’s triangular debt is very serious, and the bank financing is not available. Once the capital chain is broken, the company cannot escape the deadlock.†said Zhang Xiaofei, director of the LED Industry Research Institute of Gaogong.
The transformation of LED lighting may not be successful "Shenzhen has more than 100 display companies with annual sales of hundreds of millions of dollars, and there may be thousands of small-scale ones. The collapse of vision electronics is only a precursor. For SMEs, this is only the beginning of the crisis. "There are people in the industry who say that, on the one hand, the LED display market is declining. On the other hand, the LED lighting market is gradually being released and the production capacity is expanding. Many domestic LED companies will focus on lighting."
Data show that at the end of 2011, the proportion of display screens in LED applications fell to 19%, while the proportion of LED lighting continued to increase, and its output value had exceeded the LED display. Listed companies such as Wanrun Technology (002654), Longfang Lighting (300301) and Jufei Optoelectronics (300303) have large investments in LED lighting.
Liu Shengping, chairman of the China Lighting Association, said that since October 1 this year, the state banned sales and imports of incandescent lamps for general lighting of 100 watts or more, LED lights and energy-saving lamps quickly replenished the market, "4 to 8 years LED lighting will gradually replace incandescent lamps, which will be a trillion market. However, Lu Weiqiang said that compared to the LED display industry, LED lighting is more intense. "The lighting and the display are very different. Those who have neither technical support nor financial strength, if blindly shifting from the LED display industry to LED lighting, it is possible that both the original market and the LED lighting field cannot be stationed. Stable footing."
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