What Are The Reasons For The Quiet Exit Of New Three-board LED Enterprises?

- Jan 15, 2019-

The new third board is more and more "besieged" feeling, some people want to rush in at one end, while some people choose to leave silently. At the beginning of the year, with the gradual exit of Durson Lighting and Polytechnic Lighting, the new three boards, which had not been heard for a long time, finally became the topic of the industry after dinner.


Some enterprises queued for a long time, and finally got the new three-board ticket smoothly. In 2018, LED companies such as Steady Bright Stock, Gertron, Booty Card Mu and Green Bright Stock have been listed smoothly. On January 4 this year, Yashi Optoelectronics, who is in the innovative layer of the new third board, also announced that the company has successfully passed the meeting, which is the first successful new third board enterprise in 2019.


At the same time, other enterprises that are already in the "circle" choose to "leave quietly". On December 18, 2018, Guangzhou Dasen Lighting Co., Ltd. submitted the application materials for termination of listing to the National Small and Medium-sized Enterprises Share Transfer System Co., Ltd. and received the acceptance of the National Small and Medium-sized Enterprises Share Transfer System Co., Ltd. The reason for the delisting was not explained. At the end of 2018, Juke Lighting also issued a notice saying that, according to its own business situation and long-term development The strategic plan, after careful consideration, intends to apply to the national small and medium-sized enterprises share transfer system for the termination of the listing of the company's shares.


As we all know, the emergence of the new three-board makes many small and medium-sized enterprises no longer restricted by the high threshold of the original capital market, provides enterprises with convenient financing channels and higher credibility, increases the viscosity of their business cooperation, and at the same time, the new three-board is comparable to the management standards of listed companies, which can promote the governance structure of listed companies to be more standardized and lay a foundation for future development. In today's LED industry leading effect is significant, resources tend to concentrate, many small and medium-sized LED companies competing with manufacturers hope to catch up with the "new third board" sail to achieve high-speed progress.


In the past two years, the phenomenon of "delisting" of new three-board LED enterprises has become more and more frequent. According to the information of digging Beibei. com, more than 1500 enterprises delisted in the new third board in 2018. The number of new third board enterprises increased negatively in the whole year, and the speed of listing was lower than that of delisting. Among them, according to incomplete statistics, there are about 16 new license companies that have been delisted since 2018. Why give up the opportunity that others have dreamed of?


One of the most common reasons for "exit" is the high cost of information disclosure. Some insiders concluded that the new three boards bring various benefits to enterprises, but also bring more tax and management costs due to the increase of transparency and structural regulation. If enterprises lack better growth, it will generate financial pressure and slow down the development speed.


Others choose to delist because of better financing and long-term development of enterprises. For example, last year, the only lights and Star Mei Chan which had been delisted were invested in by Ruifeng Optoelectronics. Looking back at the reasons given by the announcement of Poly Lighting, it seems that it also has the meaning of looking for new branches.


So far, the phenomenon of listing and delisting is no longer so contradictory. Enterprises at different levels naturally have different ideas. In short, today's LED industry has undergone a round of shuffling, the situation of the strong is not uncommon, and since small and medium-sized enterprises choose the new three boards as a tool to break through barriers, they must have sufficient pressure resistance and clear development plan. Whether you want to stay in the new third board for a long time or seek a better world temporarily, only by taking on many of the challenges, can you "taste" the benefits and gain more opportunities.