LED enterprises a series of checkpoints the IPO Absen “risk” ridden
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March 23, the SFC website disclosed Shenzhen Absen Photoelectric Co., Ltd. (hereinafter referred to as the “the Absen”) and the gem of the first prospectus.
The prospectus shows that the the Absen to be issued 2,106 shares, intended to raise capital of 260 million yuan, mainly for the LED display, LED lighting products, construction projects, and LED technology R & D center construction projects.
However, including the display homogenization intense competition, product prices continue to decline, gross margin facing downside risks to overseas business major, facing the international political and economic environment, the risk of instability, the main business slowdown, the company dispersed ownership structure and many do not determine risk, Absen whether successful clearance, caused by the widespread concern of the line inside and outside.
LED display industry is highly competitive
Nearly a year, the LED display is the main business enterprises have to seek expansion transformation of the way to go through the IPO.
LED Engineering Research Institute (GLII) statistics show that 2011 domestic production value amounting to billions of 5mm LED display enterprises over 40, while most of the LED display enterprises in overseas markets.
Because the industry is becoming increasingly incentive, over the past few years, some companies started to price low. Especially in the last two years, the price war is not uncommon in the LED display industry. During the display industry average gross profit plunged 20%, business survival increasingly difficult. According to GLII survey data show that the domestic low-end indoor display gross margin of about 15%, 5% -8% of the net profit; outdoor LED display gross margin of around 20%, net profit of 6% -9%. Among them, the LED display in the 2011 industry average price fell 20 percent.
Has also been reflected in the Absen the prospectus. Of Absen the main business – Full Color LED Display, 2009-2011 annual per square meter average selling price of 12,400 yuan, 12,000 yuan and 10,700 yuan, in 2011 the average selling price dropped by 13.71% compared to 2009.
It is understood that the LED display enterprises to maintain the normal operation needs to be done at least 30% of gross profit. Hill Wood chairman Shiguo Sheng told reporters that the profits of the domestic LED display in recent years has bottomed out, not much room for future growth.
With decreasing costs, gross profit has bottomed out, the LED display space is limited, many enterprises are forced to transition. More short-term behavior of the domestic LED display enterprises, to switch the lighting, is quite upset.
According to Hill Wood, general manager of Shi Guoguang underlying the transformation has a lot of unknown hidden rules. He said that the domestic LED display industry, there is an open secret, that is, the turnover of the enterprise LED display 2-3 billion, will not want to do great. Because bigger means that companies must be to reduce the margin for the price.
LED display enterprises have been listed on several 2010 annual output and raise investment projects to expand production capacity data show that, where Chau Ming science and technology and the the Liard expected capacity nearly doubled. Production capacity, in addition to Chau Ming technology, the remaining three display companies raise investment projects reached a total of 7 to 8 million square meters. This is also from another point of view, domestic LED display industry concentration is not high, the market share of more scattered, and new competitors to the continuous influx of market competition pattern of homogenization.
Source: Institute of Engineering LED industry summary above each listed company prospectus content
Meanwhile, with the international LED industry shifting to China, overseas competitors to set up production bases in China, China’s LED full color display competition in the industry showed a tendency of increase.
As one of the global LED display giant Barco, director of marketing, Zhaohui Tang, told reporters that China is Pakistan’s most important strategic market. Barco in China R & D, manufacturing, sales system. Barco R & D base as well as manufacturing facilities in Changping District of Beijing.
Core technology, the main advantage is not obvious
The Absen prospectus, the main products of the company’s current high-end LED full color display, divided into more than 30 models of P4, P5, P6, P10, of P16, P20, p21, P25, etc. in accordance with the pixel pitch.
The company’s core technology – outdoor display 3D space with optical technology, LED display electromagnetic compatibility (EMC) technology, low-cost energy-saving technology of LED display, outdoor LED display low-cost reliability in the industry is very popular, so competitive not outstanding.
At the same time, the company’s raised 260 million yuan of funds for LED lighting is about $ 60 million, accounting for 22%. In the field of LED lighting technology in Absen only stay in the second optical design, thermal, drive power testing.
30 technology patents granted from the prospectus shows the company point of view, of which five of the previous application in 2008, 25 applications in 2011, the 2009-2010 two-year patent is blank.
In addition, 30 patents, only six are related to the display most of the rest of the LED lighting-related patents, including the bulb lights, spotlights, downlights, panel lights, lamps, etc., reflecting the 2009 to 2011 display, the company and not too many R & D results.
More importantly, these 30 patents, all of the utility model and design patents, patents for inventions. This is also reflected from the other side do not attach importance to the Absen the overall R & D capacity of less than or patent applications. And display the counterparts of the Liard and Chau Ming far, reflects the Absen the R & D capability gap. The prospectus, The Absen right of these risks are also described. The future, with the growing competition in the industry, if companies can not continue to consolidate and expand competitive advantage, you may face the risk of competitors beyond, and thus adversely affect our operating results. “Zero down” mode at great risk
The prospectus shows, the company in July 2010 for a standardized product A1688, A1088 launch the sales policy of “zero down payment” on the part of customers, the customer orders without advance payment, the full purchase price or most of the money paid prior to delivery ( not after delivery by installments). Settlement patterns and general sales, the sales policy of “zero down payment will be 30% payment (advance payment) charge time of the original sales contract was signed to receive delay before shipping charge.
In fact, the the Absen domestic display industry pioneered “zero down” mode, once in the industry continued to be suspicious.
Many people in the industry, frankly, the LED display industry is a mature market is very competitive, zero down payment is just a marketing tool. This model, there are many risks, and more than a year in the industry to be effective is minimal. First of all, zero down payment for some small part of the customer base, not all customers can use this mode; Second, the use of zero-down payment mode must be to raise prices to ensure that the operating costs. Therefore, not only require customers need to have a good reputation, but also to have a strong financial strength and support of
This reporter has learned, the domestic model for zero down payment are generally government projects in foreign countries are generally large companies and consortiums. But no matter what, this model of customer research capacity poses a challenge.
Not only the challenges of research strength, zero down payment mode on product quality also put forward higher requirements. “If the quality is not good, then the business must pay for the display, to pay the next within a certain period, if the quality is bad, the client can always terminate the payments.” Industry sources, zero down payment is the product quality .
At the same time, the risks of zero down payment is also reflected in the “tailored”. LED display of a terminal project are tailored to the customer control of the initiative, upon return, then display enterprises are tailor-made for the piece of screen to pay the other hand, display the enterprises difficult to find the same requirements of customers in a short time.
Therefore, the “zero down payment, there is a huge accounts receivable and inventory risk. Earlier, the the Absen marketing vice president Ren Yonghong said in an interview with reporters: “zero down payment has also increased our company’s internal challenges to speed up shipments and production cycle, this is a major challenge in terms of our internal management.”
The prospectus shows that the 2009-2011 The Absen stock of 33,106,300 yuan, 46,706,200 yuan, 60,429,400 yuan. The data show that the 2011 inventory as compared to 2010 increased by 29.4%.
Investment banking, according to a broker who said: “zero down payment mode because the display gross profit to raise so many ready to display the impact of an IPO companies tend to bite the bullet and risk to do.”
Involved in lighting, the future does not deterministic large
The prospectus shows that the company will seize the opportunity of rapid development in the field of LED lighting, the lighting business to become a new profit growth point. Also pointed out that in the sales model, the overseas sales of LED lighting products will use the company LED display customer channels, promotion and sales.
The last two years, whether it is traditional lighting, LED lighting companies are stepping up the channel agents penetration and control.
In fact, the channels with the lighting of the LED display channels is a big gap. The Absen original customers are advertisers, radio and television systems, stadiums, theaters, etc.. LED lighting of the proxy object is the government, designers, lighting agents, and ordinary consumers. LED display manufacturers be able to make the original agent to accept a completely unfamiliar territory. “A lot of people in the industry expressed concern.
LED display enterprises can supplement existing channels to strengthen and expand the LED lighting, sharp extension display Chairman Dan Yaozhong said: “LED display enterprises in the lighting field, the formation of core competitiveness and advantages will be more difficult.”
In addition, the main overseas markets Absen, also facing strong competitive pressures of the overseas high power LED lighting giant. These enterprises are controlled almost most of the core technology of LED lighting, and use its patents to suppress and restrict other LED lighting companies in the overseas market expansion. Clearly, whether the Absen bi color LED lighting business can copy the glory of the original display business in overseas markets is still an open question.
The Absen insiders, the company is to NVC OEM. For Absen just entering the field of LED lighting, if the company in quality control, delivery time can not continue to meet customer demand, the company’s major customers may shift to the procurement of other manufacturers will be the company’s business adversely affected.
The bright future of LED Lights
Light emitting diodes (LEDs) are quickly gaining popularity as a light source in homes and offices. Because of their performance advantages over other available lighting technologies, they stand poised to rule the indoor lighting market in a few short years.
OK, bear with me – quick science & history lesson. Light emitting diodes are semiconductors designed to emit light when electrically charged. Despite their high-tech reputation, they’ve actually been around for a century; LEDs were first developed in the early 1900s, but didn’t see practical usage until the 1960s when they began to appear in electronic displays. But at that time they still lacked the brightness to function as a light source for anything beyond a small letter or number readout, and their chemical components could only produce red light.
Fast forward to the present. Design advances have led to far brighter LEDs, and diodes that can produce virtually any color light desired. But they’re still fairly expensive to manufacture when compared to other common light sources used in building applications. So why are they gaining such popularity? Easy: They’re efficient, they’re durable, and they’re clean.
LEDs are far more efficient at producing light than incandescent or even fluorescent lights. Unlike their competitors, LEDs actually convert most of their electrical consumption into usable light output instead of wasting it in the form of heat. Average current-generation bi color LEDs are capable of approximately 50% more efficiency than equally bright fluorescent bulbs and more than double the efficiency of incandescents; some next-gen LEDs claim an 8-fold advantage over their incandescent rivals. An additional, indirect energy-efficiency perk of LEDs is the lack of heat generated – ambient heat that no longer needs to be offset by ventilation or air-conditioning systems.
A second huge advantage of LEDs as a light source is their durability. Because of their sealed, filament-free design, they are not nearly as vulnerable to impact or moisture as incandescent or fluorescent bulbs. And an LEDs lifespan is far beyond that of its competitors: whereas an incandescent bulb might last 1,000 hours or a fluorescent up to 10,000 hours, an LED can easily achieve 50,000 hours of operation.
LEDs also have a particular “clean” advantage over fluorescent bulbs, which themselves have gained great popularity recently because of their own efficiency advantages over traditional incandescent bulbs. Besides being even more energy efficient and durable than fluorescent bulbs, LEDs contain no mercury. As more homes and businesses switch over to fluorescent bulbs, there are increasing concerns about the bulbs’ mercury content winding up in landfills and waste disposal facilities. And along those same lines, there are concerns about residents being exposed to hazardous materials in the event of a fluorescent bulb breakage.
So why don’t we all have homes and offices full of LEDs? Be patient; they just need a little more time. One factor still being refined is the quality of the light; just as fluorescents took a bit of tweaking before they evolved from harsh institutional lights to the nice soft lights we enjoy now, LED’s are still evolving to produce the amount and kind of light that consumers want to live with. But the biggest factor is the cost: even though long term power savings might make up the difference, an LED today can cost around $40, and that’s an initial purchase price that scares off many consumers compared to a few dollars for a fluorescent bulb or a few cents for an incandescent. But in the next five to ten years, as design and manufacturing techniques improve, and as consumer confidence in the LEDs grows, prices will certainly drop. Old-fashioned bulbs will just be a hot, dirty memory, and LEDs will light the way to the future.
LED Flood Lights
LEDs, or light-emitting diodes, are semiconductors that are capable of causing light when electricity passes through them. While this technology has been around for many years, it has taken a long time for widespread adoption. This is in part due to color issues, as LEDs were only red when they were first made, and they can cost a lot. However, LED flood lights have proven to be one of the most effective and efficient type of lighting fixtures around, and for many reasons.
The Good
The best thing about an LED flood light is the longevity. Most light bulbs are effectively measured in months, but LED flood lights are good for years. Even cheap, low-quality lights are capable of lasting about 5 years. Better lights are capable of lasting 10 to 25 years. This can help you save a lot of money through the years.
These lights are environmentally friendly. They do not use the same amount of materials, and the materials are much less toxic when compared to the substances used to make other conventional light bulbs. Since the LED flood lights last so much longer, this also improves environmental friendliness.
The Bad
While it is easy to go on and on about these lights, there are two issues to be aware of. The lesser con is that the light can be somewhat inconsistent. Lighting is strongest near the center, and tends to dither out rapidly around the edges.
The worst con is the price. Usually the best LED flood lights cost about $100 per bulb, while average quality bulbs are about $35 to $65 per bulb. While you can easily absorb this cost due to the effective life, it can be hard making this initial investment for the whole house.
Buying Tips
Since the price is so high, it might be best to buy a few at a time. This allows you to convert your house over the LED lighting within a short amount of time, and it makes it easier to buy the bulbs without choking on the high price.
To ensure the LED flood light can effectively light up an area, think about getting a high wattage bulb. These bulbs tend to use about 30% less energy than other bulbs, so the extra wattage should not cause any problems.
Conclusion
LED flood lights are great for any use. They have a huge lifespan, they are very bright and the lights use only a little power to supply illumination. While the price is very high, you should be able to schedule your buying to ensure you can install the flood lights without taking a large hit in the wallet.
The furture of High power led
Although many of China’s urban development and production LED street lighting, but many low-power LED array is used for light, heat problems are resolved, the number of LED to be a lot of strong low-power LED light failure, installation costs are high;
LED street lighting, the use of the city is the development trend of high-power LED, a small number of high-power LED street lamps for light products because there is no good solution to achieve a certain amount of power, LED heat dissipation problems; 5mm LED condenser astigmatism and control issues; street light in the road surface illumination range, type and intensity of the balance; photoelectric conversion efficiency is too low, only a few lumens per watt and other issues. Therefore, performance is not satisfactory; price and high performance products, it is difficult to popularize.
Heat dissipation and reliability are the main factors affecting high-power bi color LED applications. LED light package heat dissipation, has been the development of LED products encountered a very important issue, in which the material’s thermal conductivity is very critical. Thermal conductivity of ceramic materials is a very good material, it has high thermal conductivity, good volume performance (no, no shrinkage, no distortion), good insulation properties and thermal conductivity. Therefore, the use of ceramic materials is the future of LED product development trends.
100W High Power LED
Actually, all this talk about heat management from LEDs has reminded me of an application where the lack of heat and not dealing with too much heat was a problem for one OEM. Since all of the heat from an LED is produced out the back of the die, the light output itself is thermally cool (don’t confuse this with color temperature). So cool, in fact, that a manufacturer of aviation runway beacons who recently went with all high-powered LEDs instead of the usual halogen bulbs found that once the beacons were covered with snow, the lack of heat in the light output, didn’t melt the snow from the surrounding glass globe and the runway lights were no longer visible from the air. Makes you nervous to fly, don’t it? All their initial testing had been in warmer climes. The LEDS have it all over bulbs in terms of lifetime. A typical half-watt or 1 watt high-power LED has an expected lifetime of about 10 to 20 thousand hours compared with 1 to 2 thousand for a bulb. Thats a huge savings on maintenance. The brightness of LEDS is now to the point where it meets federal safety guidelines for such lighting although I have heard talk of rewriting these guidelines to deal specifically with LED lighting. While the brightness and longevity of the LEDs made the switch from halogens seem like the way to go, the fact that the heat in the light was insufficient to keep the lens clean in the winter has left them in a real bind. Now they are scrambling to somehow channel the heat from the back of the LED die, to the globe to prevent snow buildup while still effectively cooling the 5mm LED. What a pickle to be in. Their solution will be interesting to say the least. I’ll follow up with another article as soon as I hear back on it.
The High Power 30mW Green Laser Pointer Pen (Executive Edition) is small and can be carried in your pocket with ease. It’s a lot different than your average laser pen because most laser pens come with a red beam but the High Power 30mW Green Laser Pointer Pen (Executive Edition) comes with a green high performance beam. The output power of the High Power 30mW Green Laser Pointer Pen (Executive Edition) is 30mW and the output mode is constant wave. The great thing about the High Power 30mW Green Laser Pointer Pen (Executive Edition) is that it’s strong enough to reach across most big room so distance really isn’t an issue when it comes to the High Power 30mW Green Laser Pointer Pen (Executive Edition). I will say that it’s only good under low light conditions. So don’t expect to get much out of it if you have a fully lit room.
For some odd reason I only get full strength power from the High Power 30mW Green Laser Pointer Pen (Executive Edition) when I put normal batteries in. Other than that I didn’t have any other issues with the High Power 30mW Green Laser Pointer Pen (Executive Edition). A lot of my co-workers were asking me where I purchased the High Power 30mW Green Laser Pointer Pen (Executive Edition) because they found it compelling and much more powerful than your average laser pointer pen.
If you are someone who utilizes laser pens for personal projects, business meetings and or just to add extra effect to your presentations then you may want to check out the High Power 30mW Green Laser Pointer Pen (Executive Edition). It’s affordable easy to carry around and extremely powerful.
Stealing your Neighbor’s Wireless Connection
On the other hand, half of the people said If the Internet Connection is available and they can access it with a wifi repeater while in there house than it is not stealing. This is an interesting thought because technically this would be accessing someone else’s Internet Connection, when you’re not paying for it, so what would it be called than? Borrowing? This is going to be investigated thoroughly, so we will know more about it when they give us an answer.
Until then what could you do to prevent this from happening? Well… Most configurations on a wireless Router enable you to add a password to your network. What this does is, when the person finds a connection to the Internet, once they click it, they must enter a password to access the network. Many people don’t do this because they find it inconvenient to typing in a password to there own Internet Service, but really it isn’t because many AOL users do so, unless they save the password, which could be dangerous. My opinion? Put a password on it, if you don’t want strangers using your service.
Victorian Wedding Dresses and Veils
Floral headdresses were often made of roses, lavender or orange blossoms. Country maidens would wind wildflowers into a wreath. Royal brides wore a crown of jewels, rather than the floral crown.
Orange blossoms were a traditional floral headpiece that was popular in Victorian times.Orange blossoms were a auspicious blossom or a wedding, as the blooms symbolized purity, chastity and innocence. They also represented fruitfulness and fertility. Orange trees originated in China and were brought to Europe during the great Crusades.
The lavish coronet of flowers were placed on the head. Long veils of tulle cascaded down to the floor, creating a beautiful cloud of illusion behind the bride.Brides wore their hair in elaborate updos with braids, ringlets and curls.
A Victorian Look Today
You can get a Victorian look or your wedding dresses by wearing a crown of silk flowers or pearls with a long veil. Veils can be purchased at bridal salons or on line. There are specialty patterns or vintage veils and wedding dresses.
Browse through bridal magazines and bridal shop website for ideas for your personal Victorian look.
Resources:
To Gather Orange Blossoms by Cornelia Powell in Victoriana Online Magazine
The Victorian Bridal Museum, Orange, California (online)
Quik Brite LED Lights Waste the Money
First, for the light to turn off, you have to have the magnet within an inch of it. We found that the bulk of our cupboards do not give us that option. We could do it, but the doors won’t close very well.
The sticky tape on the back of the lights also doesn’t work that well. I have two in our pantry (one of the few places I could use the lights) and, each morning, I find one on the floor because it fell off the wall. And, since they are separated from the magnet, they stay lit the whole time; draining the batteries.
As of right now, the 6 remaining lights are still in the box and I’m seriously thinking about returning them for my money back. For what I paid for those, a simple touch light would work just as well and cost me about $10 less.
The first thing that you will need to do is install the Lex LED software onto your computer. A quick review of the software shows a easy to use program that allows you to create your personalized messages. Currently the only option that the Lex LED allows you to do is type out messages and not use pictures. This does not mean that device can not make your biking adventures a little more fun. You can type creative messages that can catch the attention of those driving by you or those who are walking by. The messages can be nice little haiku’s or nasty little messages to take a shot at those being lazy and driving on a nice day outside.
Once your message is typed, you transfer it vis a USB cable to the Lex LED Lights device. All that is left to do is attach the bike to your bike spokes and turn it on. As you ride along, your message will appear across the outside of the tire. You can now have the same fun that I was able to when I purchased similar equipment for my car. The toy allows you to tap into your inner trouble maker and just have a good time with all of those around you. Plus, if you like attention, this is the perfect device to help you draw just that.
The company is currently hard at work trying to figure out possible ways to allow the Lex bi color LED the ability to display pictures. One of the main problems with trying to do this is attempting to find more memory room. It is because the device is so small that it is hard to store a lot of memory on the device. The entire process is rather complex and takes a lot of power to make happen. With the technological advancements out there, it should only be a matter of time before we see an update to this product. Look for the Lex high power LED on the Internet and make your biking adventures that much more fun.
The advantages of Laser Printers
For people who should print large quantities of pages, laser printers are priceless. They print at a constantly premium quality while also currently being far more rapidly than other sorts of printer. They may be also considerably, significantly quieter than a standard printer that means that you just never must be disturbed from the sound of the 11×17 printers churning out sheet right after sheet. No matter whether they may be inside the operate area or just utilized by people using a typical should print paperwork, they may be a considerably far more successful means of meeting any printing wants.
The printing will not likely only be steady but in addition incredibly exact. That is specially useful for any person who wants to print images, pictures or diagrams on best from the normal composed paperwork. You can find at times also possibilities to instantly print on equally sides in the paper which may usually preserve enormous quantities of time and paper for that person.
Toner cartridges can also be really simple to transform and quite productive. A lot of people are nervous about making use of laser printers because of to your large price tag from the toner cartridges, but toner ink truly usually performs out equally as low cost, if not less costly, than typical ink from the long haul because of to what number of a lot more pages it is possible to print with all the identical cartridges. 
You could also discover that you preserve all the more income by seeking into getting suitable cartridges. They’re just cartridges which were made by an individual aside from the maker in the printer. As long as these are purchased from a reliable outlet, you will discover by yourself together with the identical excellent top quality toner ink at merely a fraction in the price tag.
So in case you will need steady, excellent printing good quality, the easiest way to have it really is that has a laser printer. And inside the method you’ll be able to get the career completed significantly more rapidly, and considerably significantly less intrusively.
EFFLED High Power LED Flood Lights
I gave it 5 stars because it do emit very powerful light. I use it to replace 3 halogen floods out side of my house and the result is very impressed. Thats said. also there are some weaknesses the mouning bracket is useless. you should do some rigging yourself. I just bought this led flood light not long ago so I cant say how long it will last or the quality of weatherproof. The flood light is well worth the price. I will buy more for some upshot lighting on the top of my house and for a work light.