Recently, Qinshang Shares (002638) issued an announcement to further promote and improve the layout of the education industry, and intend to divest the semiconductor lighting business, one of the company's current main businesses. The company expects that the relevant transaction amount will reach the deliberation standard of the company's shareholders meeting. The company expects to determine whether it constitutes a major asset restructuring within 10 trading days.
Prior to this, Qinshang shares have made a lot of preparations for the divestiture of LED lighting business. From the previous LED, education dual main business drive mode, to the official proposal to strip LEDs, focus on the education industry, also reflects the current reality of the LED lighting industry.
In 2016, after the impact of the expansion of the LED industry, price increases, and mergers and acquisitions, the LED industry is undergoing drastic changes. From the LED industry's 2016 and 2017 first quarter reports, the core financial indicators of listed companies all showed a significant improvement trend. The core indicators include ROE, revenue scale and growth rate, net profit and growth rate, gross profit margin, net profit and Operating cash flow, etc.
In 2017, the industry has entered a mature stage, and the market growth rate has slowed down. The fields of lighting, small pitch, and vehicle use are still the main driving force for market growth. The big factory will continue to expand production and seize market share. The trend of the larger Evergrande will become more obvious.
The "LED evacuation" of Qinshang shares is obviously helpless.
On May 15, the company announced that it plans to use the funds raised from the original LED lighting project for nearly 323 million yuan to permanently replenish the working capital. In 2016, the operation of Qinqin was extremely frequent. The number of educational targets for completion or proposed acquisition was as high as seven, and the valuation of the target ranged from several million yuan to several billion yuan.
Qinshang was once known as the "first LED lighting", and its products are mainly high-power street lamps. In 2013, it was the limelight, and it has repeatedly won the bid for the municipal lighting project. These projects have also brought significant revenue increments to Qinshang. In 2013, Qinshang's share revenue reached its peak in history, reaching 1.141 billion yuan. After that, the company's share revenue began to decline, reaching 842 million yuan in 2016.
In the case of the sluggish LED market, the listed companies that extend the industrial chain to education, sports, Internet, advertising and other directions and develop dual main businesses are not only diligently on the stock market.
In 2016, Qinshang Optoelectronics Education completed the most important step, officially completed the acquisition of Guangzhou Longwen's assets, and Qinshang Optoelectronics also completed the transition from the traditional manufacturing industry to the education industry's cross-border dual main business.
Since then, Qinshang Optoelectronics has released a fundraising plan, with more than 540 million yuan for new outlet construction projects in key cities, more than 210 million for small class counseling construction projects, and nearly 440 million yuan for online education platforms and O2O construction projects. Nearly 80 million yuan is used in the teaching and development training system construction project.
Qinshang's 2016 financial report forecast shows that in 2016, the company's total operating income was 839 million yuan, down 1.28% from the same period of the previous year; operating profit was 67.9738 million yuan, up 249.32% over the same period of last year; net profit attributable to shareholders of listed companies 4786.69 million yuan, an increase of 130.74% over the same period of the previous year. According to the report, the decrease in total operating income from the previous period was mainly due to the macroeconomic impact and the further increase in competition in the LED market.
Just earlier this month, Qinshang shares went on to another city in the education industry. The company announced that it will set up a merger fund to acquire Aidi Education Acquisition (Cayman) Limited or its controlled educational assets (Eddi Project).
Eddie Education is a limited liability company established under the laws of the Cayman Islands. It mainly provides one-stop K12 international education. It entered China in 1997, invests in international education in China, and provides English and Chinese for foreign students. K12 courses taught in two modes.
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