![<?echo $_SERVER['SERVER_NAME'];?>](/template/twentyseventeen/skin/images/header.jpg)
Ocean King Lighting Technology Co., Ltd. (hereinafter referred to as “Ocean Kingâ€) from Shenzhen failed to seize the last wave of IPO listing in 2012. Recently, it disclosed the prospectus (report) on the website of the China Securities Regulatory Commission and “continues to make a comebackâ€. On the way to the Shenzhen Stock Exchange, the sponsor is China Merchants Securities.
Reviewing the two prospective disclosures of Ocean King in 2014 and 2012, although they are separated by two years, they are quoted in the industry report cited in the 2011 industry report on 2010, and the prospectus does not explain this; Ocean King's revenue and performance decline in 2012 was also inconsistent with the industry report description cited.
Some insiders said that it is indeed time-sensitive to quote industry reports. As a sponsor, you should try to find the latest industry reports, but this also has to pay a certain price. You may need to pay for consulting organizations to "tailor-made", but currently The regulatory authorities did not believe the reports provided by some consulting companies.
Quoted "expired" report is questioned
Ocean King’s prospectus, signed on April 17, 2014, shows “the competitive position of the issuer in the industryâ€: “Based on the 2009 China Lighting and Professional Lighting Market Research Report published by the China Lighting Society†And "2010 Special Environmental Lighting Market Analysis", in the special environmental lighting market in mainland China, in 2008, 2009 and 2010, the company's sales and market share ranked fourth, second only to the international manufacturer Philips, Cooper and Osram are among the top domestic manufacturers."
From 2008 to 2010, Ocean King's market share was 8.73%, 7.91% and 8.2%. According to its industry report, the market size of special environmental lighting equipment in mainland China is estimated to be 17.62 billion yuan, 21.19 billion yuan and 25.73 billion yuan in 2011~2013, and the compound annual growth rate of the market scale in 2011~2013 is 20.84%. Large capacity. On the financial data, Ocean King has updated and disclosed the financial data from 2011 to 2013.
"Using the 2010 data can't be said. If we are responsible for this project, we will consider deleting the industry data. Because the old data is unprofessional, the company may hide some information." A person in charge of a brokerage investment project in South China said Some industry companies hire consulting companies to do industry analysis reports often cost hundreds of thousands of dollars. General companies like to blow themselves as the industry leader, so they will rack their brains to come up with an industry analysis report. “If you are not in the top of the big industry, look for a sub-sector, so you can’t be fine.â€
“And if the company is in a very fragmented industry, it may not be able to find the latest industry data, not necessarily what it wants to hide.†A senior executive of the investment bank of Huadong Securities said that even among some well-known consulting agencies Even different government departments, whose statistical caliber is different, will make the data different.
He also said that while some consulting companies issued data, in fact, the regulatory authorities do not believe that when the sponsors write the industry materials in the prospectus, if they can not find a suitable third-party research report, they may refer to some related research. The organization purchases the report and asks these agencies to write at the sponsor's request and pay a fee to these third parties. In fact, these reports have lost their independence, and the regulatory authorities may not believe such reports when they review. As a sponsor, you should go to the updated industry data report; however, for some emerging industry segments, if there is no industry data, the listed company may choose not to disclose, and the regulatory authorities have no rigid requirements.
Although Ocean King described the good growth prospects from 2011 to 2013 in the industry report, “the compound annual growth rate of the market scale in 2011~2013 is 20.84%â€; however, its prospectus also said that some of the downstream industry boom in 2012 The reduction in the degree of demand for special environmental lighting equipment has led to a decline in the company's 2012 operating results compared to 2011. In 2012, operating income decreased by 16.97% compared with 2011; net profit decreased by 11.53% compared with 2011.
In 2013, operating income increased by 3.00% compared with 2012; net profit increased by 2.67% compared with 2012. The net profit of 172 million yuan in 2013 is still much lower than the 190 million yuan in 2011. In 2013, the operating income of 1.131 billion yuan was also far. Lower than the 1.323 billion yuan in 2011. It can be seen that the actual operation of Ocean King does not match the industry report cited by it.
Income depends on state-owned enterprises facing competition
Although Ocean King described the good growth prospects from 2011 to 2013 in the industry report, “the compound annual growth rate of the market scale in 2011~2013 is 20.84%â€; however, its prospectus also said that some of the downstream industry boom in 2012 The reduction in the degree of demand for special environmental lighting equipment has led to a decline in the company's 2012 operating results compared to 2011. In 2012, operating income decreased by 16.97% compared with 2011; net profit decreased by 11.53% compared with 2011.
In 2013, operating income increased by 3.00% compared with 2012; net profit increased by 2.67% compared with 2012. The net profit of 172 million yuan in 2013 is still much lower than the 190 million yuan in 2011. In 2013, the operating income of 1.131 billion yuan was also far. Lower than the 1.323 billion yuan in 2011. It can be seen that the actual operation of Ocean King does not match the industry report cited by it.
Ocean King's products are used in electric power, metallurgy, railway, oil field, petrochemical, public security, fire, coal, military, port, stadium, civil aviation, shipbuilding and machinery manufacturing, and other important basic industries related to national economy and people's livelihood, national macroeconomic fluctuations and related The adjustment of economic policies directly or indirectly affects the development of the above-mentioned related fields, which may lead to a decline in the investment amount and growth rate of various industries, and reduce the demand for special environmental lighting equipment, thus having a certain impact on the operation.
The prospectus also said that the future market competition of the special environmental lighting industry will become more and more fierce. Enterprises that did not belong to this industry, including Haier Group, Foxconn Technology Group, Midea Group, TCL Group, NVC Lighting, etc., have entered the industry. And expand the scale of the company and increase the market share of products through various competitive strategies. At the same time, internationally renowned companies such as Philips, Cooper, Osram, and GE Lighting have gradually increased their investment in the Chinese market, and have taken the development of the domestic high-end special environmental lighting market as their development goal.
(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.)
Reviewing the two prospective disclosures of Ocean King in 2014 and 2012, although they are separated by two years, they are quoted in the industry report cited in the 2011 industry report on 2010, and the prospectus does not explain this; Ocean King's revenue and performance decline in 2012 was also inconsistent with the industry report description cited.
Some insiders said that it is indeed time-sensitive to quote industry reports. As a sponsor, you should try to find the latest industry reports, but this also has to pay a certain price. You may need to pay for consulting organizations to "tailor-made", but currently The regulatory authorities did not believe the reports provided by some consulting companies.
Quoted "expired" report is questioned
Ocean King’s prospectus, signed on April 17, 2014, shows “the competitive position of the issuer in the industryâ€: “Based on the 2009 China Lighting and Professional Lighting Market Research Report published by the China Lighting Society†And "2010 Special Environmental Lighting Market Analysis", in the special environmental lighting market in mainland China, in 2008, 2009 and 2010, the company's sales and market share ranked fourth, second only to the international manufacturer Philips, Cooper and Osram are among the top domestic manufacturers."
From 2008 to 2010, Ocean King's market share was 8.73%, 7.91% and 8.2%. According to its industry report, the market size of special environmental lighting equipment in mainland China is estimated to be 17.62 billion yuan, 21.19 billion yuan and 25.73 billion yuan in 2011~2013, and the compound annual growth rate of the market scale in 2011~2013 is 20.84%. Large capacity. On the financial data, Ocean King has updated and disclosed the financial data from 2011 to 2013.
"Using the 2010 data can't be said. If we are responsible for this project, we will consider deleting the industry data. Because the old data is unprofessional, the company may hide some information." A person in charge of a brokerage investment project in South China said Some industry companies hire consulting companies to do industry analysis reports often cost hundreds of thousands of dollars. General companies like to blow themselves as the industry leader, so they will rack their brains to come up with an industry analysis report. “If you are not in the top of the big industry, look for a sub-sector, so you can’t be fine.â€
“And if the company is in a very fragmented industry, it may not be able to find the latest industry data, not necessarily what it wants to hide.†A senior executive of the investment bank of Huadong Securities said that even among some well-known consulting agencies Even different government departments, whose statistical caliber is different, will make the data different.
He also said that while some consulting companies issued data, in fact, the regulatory authorities do not believe that when the sponsors write the industry materials in the prospectus, if they can not find a suitable third-party research report, they may refer to some related research. The organization purchases the report and asks these agencies to write at the sponsor's request and pay a fee to these third parties. In fact, these reports have lost their independence, and the regulatory authorities may not believe such reports when they review. As a sponsor, you should go to the updated industry data report; however, for some emerging industry segments, if there is no industry data, the listed company may choose not to disclose, and the regulatory authorities have no rigid requirements.
Although Ocean King described the good growth prospects from 2011 to 2013 in the industry report, “the compound annual growth rate of the market scale in 2011~2013 is 20.84%â€; however, its prospectus also said that some of the downstream industry boom in 2012 The reduction in the degree of demand for special environmental lighting equipment has led to a decline in the company's 2012 operating results compared to 2011. In 2012, operating income decreased by 16.97% compared with 2011; net profit decreased by 11.53% compared with 2011.
In 2013, operating income increased by 3.00% compared with 2012; net profit increased by 2.67% compared with 2012. The net profit of 172 million yuan in 2013 is still much lower than the 190 million yuan in 2011. In 2013, the operating income of 1.131 billion yuan was also far. Lower than the 1.323 billion yuan in 2011. It can be seen that the actual operation of Ocean King does not match the industry report cited by it.
Income depends on state-owned enterprises facing competition
Although Ocean King described the good growth prospects from 2011 to 2013 in the industry report, “the compound annual growth rate of the market scale in 2011~2013 is 20.84%â€; however, its prospectus also said that some of the downstream industry boom in 2012 The reduction in the degree of demand for special environmental lighting equipment has led to a decline in the company's 2012 operating results compared to 2011. In 2012, operating income decreased by 16.97% compared with 2011; net profit decreased by 11.53% compared with 2011.
In 2013, operating income increased by 3.00% compared with 2012; net profit increased by 2.67% compared with 2012. The net profit of 172 million yuan in 2013 is still much lower than the 190 million yuan in 2011. In 2013, the operating income of 1.131 billion yuan was also far. Lower than the 1.323 billion yuan in 2011. It can be seen that the actual operation of Ocean King does not match the industry report cited by it.
Ocean King's products are used in electric power, metallurgy, railway, oil field, petrochemical, public security, fire, coal, military, port, stadium, civil aviation, shipbuilding and machinery manufacturing, and other important basic industries related to national economy and people's livelihood, national macroeconomic fluctuations and related The adjustment of economic policies directly or indirectly affects the development of the above-mentioned related fields, which may lead to a decline in the investment amount and growth rate of various industries, and reduce the demand for special environmental lighting equipment, thus having a certain impact on the operation.
The prospectus also said that the future market competition of the special environmental lighting industry will become more and more fierce. Enterprises that did not belong to this industry, including Haier Group, Foxconn Technology Group, Midea Group, TCL Group, NVC Lighting, etc., have entered the industry. And expand the scale of the company and increase the market share of products through various competitive strategies. At the same time, internationally renowned companies such as Philips, Cooper, Osram, and GE Lighting have gradually increased their investment in the Chinese market, and have taken the development of the domestic high-end special environmental lighting market as their development goal.
(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.)
MAINTEX is a professional development and production of Barrier gate motor & Boom barrier motor manufacturer and supplier in China. Welcome to contact us for boom barrier motor Price of your demands.
Features of our barrier motor are 30V Low-voltage Brushless DC Motor, Long Life and Strong Anti-interference.
If you want barrier gate motor , Boom Barrier motor or Other Products , please contact us to customize for you.
Auto Gate Motor
barrier gate motor,boom barrier motor
Shenzhen Maintex Intelligent Control Co., Ltd. , https://www.maintexmotor.com