Qinshang Optoelectronics, known as the first LED semiconductor lighting stock in mainland China, has recently been questioned by the outside world for being suspected of being successfully listed through fraud. Yesterday afternoon, Qinshang Optoelectronics chairman Li Xuliang denied it in an exclusive response to Nanfang Daily. The doubts did not seem to affect the share price of Qinshang
Optoelectronics, which closed at 11.68 yuan yesterday, up 1.57%. Some media questioned, “Qinshang Optoelectronics used its controlled company Guangdong Pinshang Optoelectronics Technology Co., Ltd. (hereinafter referred to as “Pinshang Optoelectronics”) to channel profits through huge purchases in 2010 and 2011, inflating its performance in the first half of 2011. , achieved a successful listing at the end of 2011.”
A senior person from a securities firm analyzed that this statement can be easily understood to mean that Qinshang Optoelectronics placed huge purchase orders with Shangpin Optoelectronics through the company it controlled, creating the illusion of a “significant increase” in profits and rushing to go public. This kind of fraudulent method of “painting” financial statements to achieve the purpose of listing is not allowed by the China Securities Regulatory Commission.
Yesterday afternoon, Li Xuliang, chairman of Qinshang Optoelectronics, told reporters that Guangdong Pinshang is only one of the projects in the company’s factory incubation plan. The company has never really invested. Pinshang Optoelectronics and Qinshang Optoelectronics only have a commercial customer relationship.
Yesterday, Wei Li, secretary of the board of directors of Qinshang Optoelectronics, responded that in the docking of some projects with the local government, because the local government attaches great importance to Qinshang’s brand and hopes that Qinshang will invest locally, Qinshang Optoelectronics so-called spent 600 million yuan. The statement that Guangdong Pinshang Optoelectronics Co., Ltd. was established in the Guangzhou (Meizhou) Industrial Transfer Industrial Park is just a reference to business cooperation. “In fact, whether Pinshang Optoelectronics is a subsidiary controlled by Qinshang should be determined by legal documents.” basis for judgment.”
Li Xuliang said that he has said the amount of investment he intends to make on many occasions, which is not surprising. He said that at some business occasions in Fujian, Liaoning, Guangxi, Henan, Tianjin and other places, he had said that he was prepared to invest, but he only talked about it and did not actually invest money. “After the company went public, as the company’s chairman, I was very cautious in my statements in this regard and basically never said anything similar again.”
Wei Li said that Qinshang Optoelectronics mainly outputs brands, products and modules; while local companies are mainly responsible for capital investment and local market development. In order to better connect related projects with Qinshang Optoelectronics, some cooperative companies Corresponding companies will be established for docking. After the cooperation project ends and corresponding profits are obtained, some companies’ original expertise does not lie in the field of LED lighting, and they may shut down the corresponding company factories and end related businesses.