IPO does not stop, another overseas OEM LED company declares listing

The new wave of LED companies' listings seems to have no stoppage.

Fujian Yongdeji Lighting Co., Ltd. (referred to as “Yongdeji Lighting Industry”) disclosed the prospectus on the website of the China Securities Regulatory Commission on April 28, the company intends to publicly issue no more than 25.75 million shares on the Shanghai Stock Exchange, and the total share capital after the issuance does not exceed 10,300. Ten thousand shares, plans to raise funds of 209 million yuan, after deducting the issuance costs, it is planned to invest in LED light production line construction projects and R & D center construction projects.

According to the data, the main business scope of Yongdeji Lighting Co., Ltd. includes the production and research and development of energy-saving light source products, lamps, lighting appliances and energy-saving lamps. In 2014-2016, Yongdeji Lighting's operating income was 310 million yuan, 306 million yuan, and 436 million yuan respectively. The net profit for the same period was 22.1344 million yuan, 26.17 million yuan, and 483.0090 million yuan respectively.

It is understood that the business of Yongdeji Lamps is divided into energy-saving lamp business and LED lamp business. It mainly provides green lighting products for internationally renowned lighting companies including Osram. It is not directly oriented to the final consumer, and the products are mainly for overseas. Customers, product export revenue currently accounts for about 95% of the company's revenue.

In 2014-2016, the sales revenue of the top five customers of Yongdeji Lighting was 266 million yuan, 255 million yuan and 316 million yuan respectively, accounting for 85.90%, 83.87% and 72.83% of the main business income respectively. The sales revenue of the largest customer Osram accounted for 56.85%, 55.53% and 53.44% of the operating income of each period.

According to the prospectus, the actual controllers of Yongdeji Lighting were Lai Yongqing, Huang Guangfa, Lai Jiqing and Lai Deqing. The four people signed a concerted action agreement on September 9, 2013, which directly held 22.70% of the shares and passed the Yongdeji Group. Indirectly controlled 64.08% of the shares of Yongdeji Lighting, with a total shareholding of 86.78%. Among them, Lai Yongqing, Lai Jiqing, and Lai Deqing were brothers, and Huang Guangfa and the above three were Lang Lang.


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