On the evening of April 2, Sanan Optoelectronics (600703.SH) admitted the price of the street lamp and admitted that it was commissioned by Cinda Optoelectronics LED street light. However, the company blamed the high price of the street lamps on the early signing time, which is obviously contrary to the facts. In the eyes of the industry, the company’s clarification announcement is “very artistic and no one is guiltyâ€.
According to the survey, the current LED roads and other businesses of Sanan Optoelectronics almost all rely on the government to buy lights, while the projects in Wuhu, Huainan and Quanzhou are almost all government orders exchanged for huge investments. The price of LED street lamps provided by Sanan Optoelectronics to local governments is much higher than the market price, especially in Quanzhou and Anxi, which were signed in 2011, which is more than three times the market price.
In addition, Sanan Optoelectronics sells street lamps from outsourcing, not its claimed “design and productionâ€, which only plays the role of ox in government orders. There are still problems in street lamp orders where the price is seriously higher than the market price, some government orders are difficult to implement, and government orders fail to pass the bidding process.
In the clarification announcement on the evening of April 3, Sanan Optoelectronics acknowledged that most of the LED application products were processed by Cinda Optoelectronics. The company also claimed that the cost was higher under the technical conditions at that time, and the cost of technology upgrades gradually declined, and the contract price of street lamps was much higher than the market price mainly because the contract was signed early.
According to the data, Sanan Optoelectronics signed the “LED Application Product Sales Contract†with Quanzhou Chengjian State-owned Assets Investment Co., Ltd. and Anxi County State-owned Assets Investment Co., Ltd. on September 27, 2011. In the announcement of the street lamp procurement contract in Quanzhou and Anxi, the company said that the purchase price was 62 yuan per watt, and the LED street lamps (60-200 watts) of the two places were about 3720-12400 yuan / baht.
The reporter's field investigation found that the so-called "street lights" in the local contracts only include a street lamp head, and it is not an expensive solar street lamp, which is an ordinary city circuit lamp. According to data provided by the industry's leading research institute, the High-Tech LED Research Institute (GLII), pure LED street lamps (ie, lamp holders) were around 23 yuan/watt in 2011 and 15-16 yuan/watt in 2012.
According to the quotation provided by Cinda Optoelectronics, the price signed by Sanan Optoelectronics and Quanzhou Municipal Government and Anxi County is also high. A 2012 LED street light quotation form provided by Cinda Optoelectronics insiders shows that the price of each type of street lamp is only 16-19 yuan per watt.
In the 2012 semi-annual report and annual report, Sanan Optoelectronics did not disclose the main revenue and gross profit margin of LED street lights that have been disclosed separately. Insiders of Sanan Optoelectronics said that the gross margin of street lamps is too high, so it is hidden in order to avoid unnecessary trouble.
"The company's clarification announcement is very artistic, and the price is high because of the time relationship, no one is guilty." Some investors are evaluating.
The reporter found that the streetlight contract signed by Sanan Optoelectronics and local governments not only has problems in implementation, but is also suspected of violating relevant laws on government procurement.
In addition, the announcement also clarified the pricing model of street lamps. The company’s implementation of the three major government LED street lights was perfunctory, and it was illegal to avoid the process of obtaining government LED orders.
"The announcement does not deny the implementation of some government orders. Otherwise, the company should announce the purchase amount of various government orders in 2012." A Beijing investor told reporters.
(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.)
According to the survey, the current LED roads and other businesses of Sanan Optoelectronics almost all rely on the government to buy lights, while the projects in Wuhu, Huainan and Quanzhou are almost all government orders exchanged for huge investments. The price of LED street lamps provided by Sanan Optoelectronics to local governments is much higher than the market price, especially in Quanzhou and Anxi, which were signed in 2011, which is more than three times the market price.
In addition, Sanan Optoelectronics sells street lamps from outsourcing, not its claimed “design and productionâ€, which only plays the role of ox in government orders. There are still problems in street lamp orders where the price is seriously higher than the market price, some government orders are difficult to implement, and government orders fail to pass the bidding process.
In the clarification announcement on the evening of April 3, Sanan Optoelectronics acknowledged that most of the LED application products were processed by Cinda Optoelectronics. The company also claimed that the cost was higher under the technical conditions at that time, and the cost of technology upgrades gradually declined, and the contract price of street lamps was much higher than the market price mainly because the contract was signed early.
According to the data, Sanan Optoelectronics signed the “LED Application Product Sales Contract†with Quanzhou Chengjian State-owned Assets Investment Co., Ltd. and Anxi County State-owned Assets Investment Co., Ltd. on September 27, 2011. In the announcement of the street lamp procurement contract in Quanzhou and Anxi, the company said that the purchase price was 62 yuan per watt, and the LED street lamps (60-200 watts) of the two places were about 3720-12400 yuan / baht.
The reporter's field investigation found that the so-called "street lights" in the local contracts only include a street lamp head, and it is not an expensive solar street lamp, which is an ordinary city circuit lamp. According to data provided by the industry's leading research institute, the High-Tech LED Research Institute (GLII), pure LED street lamps (ie, lamp holders) were around 23 yuan/watt in 2011 and 15-16 yuan/watt in 2012.
According to the quotation provided by Cinda Optoelectronics, the price signed by Sanan Optoelectronics and Quanzhou Municipal Government and Anxi County is also high. A 2012 LED street light quotation form provided by Cinda Optoelectronics insiders shows that the price of each type of street lamp is only 16-19 yuan per watt.
In the 2012 semi-annual report and annual report, Sanan Optoelectronics did not disclose the main revenue and gross profit margin of LED street lights that have been disclosed separately. Insiders of Sanan Optoelectronics said that the gross margin of street lamps is too high, so it is hidden in order to avoid unnecessary trouble.
"The company's clarification announcement is very artistic, and the price is high because of the time relationship, no one is guilty." Some investors are evaluating.
The reporter found that the streetlight contract signed by Sanan Optoelectronics and local governments not only has problems in implementation, but is also suspected of violating relevant laws on government procurement.
In addition, the announcement also clarified the pricing model of street lamps. The company’s implementation of the three major government LED street lights was perfunctory, and it was illegal to avoid the process of obtaining government LED orders.
"The announcement does not deny the implementation of some government orders. Otherwise, the company should announce the purchase amount of various government orders in 2012." A Beijing investor told reporters.
(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.)
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