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As the first private joint-stock company in the history of Jinan, Shengquan Group has been working hard for 20 years. Therefore, although the listing threshold of the New Third Board is not high, the landing of Shengquan Group is still attracting attention. "It solves the historical problems of the Shengquan Group and will lay the foundation for the Shengquan Group to land on the main board next time." Rui Zheng, chief analyst of Rui Cai.
At the same time, the listing of Shengquan Group also caused repercussions in the national capital market.
Among the many property rights enterprises in China, Shengquan Group is the first private enterprise to land in the New Third Board in China. This is of great significance for many property rights enterprises that cannot be listed due to historical problems. On the other hand, the 2013 financial report In contrast, Shengquan Group will be the largest and most profitable enterprise in the New Third Board. Its successful landing will help boost the liquidity of the New Third Board and improve the fundraising ability of the New Third Board.
The new three board ushered in a big head
On July 28, in the National SME Share Transfer System (referred to as the “New Third Boardâ€), Tang Yilin sounded the listing of Shengquan Group. At this moment, the New Third Board ushered in a large-scale enterprise with excellent performance.
As a property company, Shengquan Group has maintained excellent performance in recent years. In 2013, Shengquan Group achieved a business of 3.596 billion yuan, an increase of 11.05% over the previous year; the net profit attributable to shareholders was 262 million yuan, an increase of 33.61% over the previous year. At the same time, by the end of 2013, the company's total assets were 5.678 billion yuan, which was attributable to the parent company's shareholders' equity (net assets) of 1.675 billion yuan.
What does this financial situation mean in the New Third Board?
According to the statistics of the reporters, as of July 23, a total of 867 companies in the New Third Board were listed (excluding delisting enterprises and two network enterprises). The IFIND data of the straight flush shows that these enterprises realized a total operating income of 89.585 billion yuan in 2013, and the average total operating income realized by each enterprise was only 104 million yuan. By the end of 2013, the total assets of the enterprise were 127.265 billion yuan, with an average of each enterprise. The assets are 148 million yuan.
According to the 2013 financial report data, among all the enterprises in the New Third Board, Shengquan Group's total operating income of 3.596 billion yuan and net profit of 262 million yuan ranked first. If the total assets are compared, Shengquan Group will also rank second. The first place is Xiangcai Securities, which landed on the New Third Board at the beginning of this year.
Code company net profit (ten thousand yuan) total operating income (ten thousand yuan) total assets (ten thousand yuan)
830881.OC Shengquan Group 26212.97 359636.35 567831.21
430002.OC Zhongke Soft 13475.5 267965.17 229772.76
430399.OC Xiangcai Securities 13036.07 83048.75 1206631.33
430229.OC Green Shore Shares 9152.31 29274.6 19738.16
430005.OC Atomic High Section 7789.09 57695.48 69034.25
430018.OC Combination Technology 7657.01 71423.52 81581.76
830815.OC Blue Mountain Technology 6936.66 42279.21 45207.48
430049.OC Shuangjie Electric 6727.05 44814.59 60764.07
430065.OC Zhonghai Yang 6542.41 104254.35 179107.43
430017.OC 星昊è¯6387.18 25767.94 62546.73
430441.OC Yingji shares 6251.64 8705.46 23121.95
Note: Shengquan Group and New Third Board's top 10 most profitable companies in 2013 (data source flush IFIND)
It is precisely because of its good performance, industry analysts, the Shengquan Group's landing on the New Third Board is not only a big event for the company itself, but also for the new three board market. "The new three-board market still has problems such as poor liquidity and weak fund-raising ability. For example, a high-quality company such as Shengquan Group will land in the new three board, which will greatly enhance the attractiveness of the new three board market." Wang Zheng said.
Listed documents of property rights enterprises
The listing of Shengquan Group is also a boon for many property rights companies. Because the Shengquan Group, which is also a property-owned enterprise, has been struggling outside the door of listing, its successful listing now has a meaning of specimen.
"In order to go public, we have been working hard for 20 years." Talking about history, Tang Yilin was filled with emotion.
Many people do not know that Shengquan Group is the first batch of private joint-stock pilot enterprises in the history of Jinan. "In 1993, Shengquan Group was restructured from the original Jinan Shengquan Chemical Industry Corporation, and at the same time issued internal employee shares, and raised some funds." Tang Yilin introduced.
After the restructuring into a joint-stock company, Shengquan Group immediately launched the road to listing. At that time, the listed consultants for Shengquan Group were all famous experts in China, such as Li Yining and Wu Jinglian. In order to go public, Li Yining and Wu Jinglian once gave lectures to Tang Yilin, and it was a few hours. "At that time, their annual consultant fee was only 2,000 yuan."
Despite the support of top domestic experts, Tang Yilin also has great enthusiasm, but the problem has appeared in the policy: the company's registered capital is less than 30 million yuan, which does not meet the listing conditions. To this end, Tang Yilin wants to merge with other companies and proposes that the other party has a controlling position, but it is still rejected. The Sanquan Group’s impact on the listing of the road failed for the first time.
In 1995, Shengquan Group Shandong Enterprise Property Exchange was listed and traded. Since then, the “property enterprise†has become one of the labels of the Shengquan Group. In 1998, the domestic property rights trading market was completely closed, and the property rights listed on Shengquan was terminated, which was a long road to listing.
After the closure of the property market, Shengquan Group immediately began its second impact on the market. At that time, Jinan City had two listing places, and Shengquan Group was one of the key enterprises recommended by Jinan City. However, in the process of listing the Shengquan Group, the relevant departments asked Shengquan Group to bundle two other state-owned enterprises at the same time, which made Tang Yilin hesitate. "The two companies have nothing, and the burden is too heavy." The opportunity to go public is therefore missed again.
Since then, Shengquan Group has continued to pursue on the road to listing, but each time it has not been realized due to various policy reasons. “The closest success was in 2002, when Shi Meilun served as the vice chairman of the China Securities Regulatory Commission. She specially convened a meeting to discuss the listing plan of Shengquan Group. Eventually, due to the computer system error caused by Shengquan Group’s listing in the property market. The mismatch of the stock allotment and other reasons."
In 2004, Shengquan Group planned overseas red chip listing, inspected the Singapore capital market, and signed a strategic investment framework agreement. After comprehensive consideration, it actively abandoned the overseas listing plan for various reasons.
The new "Company Law" promulgated in 2006 stipulates that no more than 200 shareholders of non-listed companies, and more than 3,000 shareholders of Shengquan Group as property rights enterprises, the road to listing is increasingly difficult. In 2007, Shengquan Group launched a listing tour of its subsidiary Shandong Shengquan Chemical Co., Ltd., and then accepted the recommendation of the China Securities Regulatory Commission and withdrew the application materials. After the stock market volatility, IPO suspension and other factors, Shengquan Group finally targeted the listing of the new three board.
“No matter where it is listed, the desire for 20 years has finally been realized. We are the third property company in China to land on the New Third Board. The previous two companies are state-owned holding companies. We are the first private enterprises listed in the original property rights trading market. "Tang Yilin said so.
Future fundraising can be expected
After landing on the New Third Board, Shengquan Group plans to start additional issuance and will issue an additional 1.5 billion yuan.
The additional amount of 1.5 billion yuan is a huge number for the New Third Board. According to data from Wande, since the establishment of the New Third Board, the total amount of additional issuance is only 7.313 billion yuan. In 2014, 51 new companies in the New Third Board issued additional funds, raising a total of 4.602 billion yuan, and the average fund raised by each company was 90.235 million. yuan.
But the Shengquan Group is still full of confidence. "At the recent general meeting of shareholders, many old shareholders demanded allotment, and repeatedly asked that Shengquan Group is a blue-chip stock. When it is issued, it must not be sold cheaply." Tang Yilin said.
Among the many investors in property rights companies, Shengquan Group has a good reputation. At present, many domestic property rights companies have collapsed, and some enterprises that still exist do not open shareholders' meetings all the year round, let alone dividends. However, the Shengquan Group is different. According to the statistics of the reporters, since 1994, Shengquan Group has increased the shares held by shareholders by 13.52 times through multiple stocks, and dividends have been paid in most years, especially in 2010, 30 shares for every 10 shares. The cash dividend of 7.5 yuan was distributed, and the accumulated dividend amount reached 435.131 million yuan. The generosity of shareholders exceeded that of many enterprises in Shanghai and Shenzhen.
It is precisely because of the attitude of Shengquan Group to shareholders that shareholders are enthusiastic about the future of the company. In addition, Shengquan Group has also contacted more than ten domestic institutions. “They are very interested in the issuance of Shengquan Groupâ€. Tang Yilin said.
In the contact with the organization, the industrial advantage of Shengquan Group is eye-catching.
In the framework of the Shengquan Group, the foundry materials and the industrial phenolic industry are two traditional industries. But for these traditional industries, Shengquan Group has embarked on a road of innovation. At present, the company has launched a series of composite materials such as high-performance composite materials such as “light core steel†and modified phenolic fireproof insulation board for rail transportation. Driven by these innovations, the company's foundry materials and industrial phenolic industry have the largest production scale in the world and the world's top three.
At the time of deep cultivation of traditional industries, new materials are the top priority of the company's development. For example, as a company that develops various types of plant straw and converts it into various new energy sources and new materials, Shengquan Group has produced cellulose, cellulose, furfural, xylose and high-activity wood from straw. More than 20 kinds of new energy and new materials products, including lignin dye dispersant, plant fiber and activated carbon, have applied for more than 100 patents, and some products have completely replaced imports, filling the domestic gap. At present, the company has obtained a bio-based carbon material from plant straw, and the company will use this to enter the new energy battery industry.
In addition, Shengquan Group is still developing the pharmaceutical industry. After three years of research and development, the Shengquan Group has developed more than 50 kinds of advanced pharmaceutical intermediates. These intermediates are advanced intermediates in the second and third phases of large-scale hospitals in Europe and the United States. In addition, the company has reserved generic drugs. More than 10 kinds, the future market prospects are expected.
Another concern for investors is that the mechanism for the new three-board to motherboard is maturing. According to IFIND data, there are already nine new three-board companies that have successfully turned to the main board, including Guangdong Media and Ziguang Huayu. The Shengquan Group also has excellent performance, and the prospect of the company turning to the main board in the future is expected.
Listed by Shengquan Group: New Third Board welcomes the most profitable enterprise
The summary "has finally been listed!" At the moment when Jinan Shengquan Group Co., Ltd. (hereinafter referred to as "Shengquan Group") landed on the New Third Board, the company's head Tang Yilin said calmly. As the first in Jinan history...
“It’s finally listed!†At the moment when Jinan Shengquan Group Co., Ltd. (hereinafter referred to as “Shengquan Groupâ€) landed on the New Third Board, Tang Yilin, the head of the company, said calmly.