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“China Light King†Foshan Lighting (000541), known as cash cows, has received much attention in the past two years for energy-saving products that fit the national industrial development policy and investment initiatives in the new energy sector. Yesterday's shareholders meeting, faced with frequent questions from fund companies and brokerages from all over the world, Chairman of the company Zhong Xincai said that he intends to develop in this new field and strive to form lithium carbonate, lithium batteries and new energy pure electric vehicles from the upstream. The complete industrial chain to the downstream.
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As we all know, Foshan Lighting has a large technical shareholder, Osram, so when Osram was stationed a few years ago, both the company's management and investors were full of expectations. But unfortunately, in the past few years, the company has not received the support of major shareholders in the lighting technology. Due to the impact of the financial crisis, the cost and competitive pressure of the electric light source industry as a traditional product has become increasingly serious, and the company's production and operation faces greater challenges. It is in this case that in order to enable the company to adapt to current and future economic development trends and ensure that the company can continue to develop steadily, according to the requirements of the country to develop a low-carbon economy, the company's management will target the breakthrough and direction. In the new energy project.
In September 2009, Foshan Lighting and Huaou Company jointly established Qinghai Folu Lithium Energy Development Co., Ltd., and then signed the company's patented technology to sign the company and Qinghai Salt Lake Technology Development Co., Ltd. in late September. The letter of intent, jointly invested in the establishment of Qinghai Salt Lake Buddha Lithium Industry Co., Ltd., the development and production of lithium carbonate project.
The prospects for new energy are very bright, attracting countless funds to compete. So what are the advantages of China Light King in this field? Zhong Xincai said that when voting for new energy investment last year, two directors abstained from voting. The two directors came from Osram, the major shareholder. Now through extensive management research and data provided, Osram headquarters has changed its view and expressed its support for development. new energy.
Zhong Xincai said that the company's investment in this field is also based on mastering the unique patented technology to extract lithium carbonate from brine by adsorption. He said that the Salt Lake Group (000578, shares it) has used this patent to extract lithium carbonate in brine water four years ago, and this resource is very rich in Qinghai. Compared to the extraction method, this patent has low extraction cost and no pollution. It is said that the joint venture company is working hard to promote the work, and there will be results in July and August.
When talking about the company's plans for new energy projects, Zhong Xincai said that in addition to lithium carbonate, the next step will be to actively explore the downstream projects of lithium carbonate to create favorable conditions for the development of new energy industry chain. The company plans to transfer Hefei to 160 million yuan. Xuan Marketing Planning Co., Ltd. holds a 20% stake in Hefei Guoxuan Gaoke Power Energy Co., Ltd.
Traditional lighting products are in short supply
At a time when new energy projects are in full swing, Foshan Lighting's traditional lighting industry is also gaining momentum. In the words of Zhong Xincai, the company’s overtime work has not kept up with the market demand. He explained that due to the financial crisis last year, foreign customers did not dare to stock, and the inventory was digested, so they had to replenish their products this year, as well as the domestic market. In the face of this situation, the company can not only pay attention to the interests of the eyes to increase production, because it is necessary to consider whether management can keep up, whether the quality can be guaranteed, otherwise it can only affect the long-term benefits of the company. The strategy adopted by the company now is to open all existing equipment on the one hand and OEM on the other. In the face of such a good sales situation, the company has also increased the ex-factory price of products by 10%. Zhong Xincai said that the company's total sales value will increase by about 10% compared with last year.
In terms of LED projects, the company is also actively seeking breakthroughs. Zhong Xincai revealed that he is currently negotiating with a US-owned company with the goal of buying patents and buying rights. It is estimated that there will be results soon.
Yesterday's shareholders meeting also elected the company's new board of directors, Zhong Xincai removed the chairman's post, but still retained the post of general manager. At the critical moment when the company is facing transformation, Zhong Xincai’s whereabouts are quite concerned by institutional investors. Zhong Xincai said with a smile that Foshan Lighting is, after all, a public circulation company. As a 67-year-old man, it should also gradually withdraw from management. But he said that the new energy project will not exit until it has produced results.
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