20 billion market value truth: Sanan Optoelectronics into LED street light business "hacker"
The story of Sanan Optoelectronics began in July 2008 with the success of the shell * ST Tianyi. Since then, it has started a remarkable business expansion and stock market myth from a glimpse of the south of the country. From 2008 to 2012, Sanan Optoelectronics' net profit surged 15 times, and its stock price rose to 129.34 yuan (recovery price) in August 2010, reaching 18.3 times.
With the stock price skyrocketing, since 2009, Sanan Optoelectronics has made two consecutive non-public offerings of 3.8 billion yuan. In April 2011, Sanan Optoelectronics tried to open up additional funds of no more than 8 billion yuan, and then reduced to no more than 6.3 billion yuan, but terminated due to changes in the market environment.
Dongfeng, which has continuous financing, has a net asset of less than 500 million yuan and a total assets of less than 900 million yuan. As of the end of 2012, it has become a Shanghai-Shenzhen company with a net asset of 6 billion yuan and total assets of over 10 billion yuan. 300 (2498.695, 3.61, 0.14%) and SSE 180 constituent stock companies, up to 90 funds have a heavy position.
However, the reporter found that since Sanan Optoelectronics was listed on the backdoor, not only the majority of its profits came from government subsidies, but also its three main businesses: LED street lights (hereinafter referred to as "street lights"), LED chips (hereinafter referred to as "chips"), and gold waste materials recycling. The business problems are numerous, and the associated major customers are treated non-associated. The Tianjin and Wuhu projects are also suspected of inflating investment.
If a cautious investor observes the company’s profit for the calendar year – cut off the “regular subsidies†that are not frequent, and then cut off the “profit†of the “street light trade†that is actually subsidized by the government, and then cut off the “supported by related partiesâ€. The chip business, and finally cut off the unreliable "gold waste materials recycling business", you will find that the sausage has been cut.
However, this is the icy fundamental of supporting the big bull market with a market value of 20 billion yuan and an active volume every day.
Ten thousand street lamp truth
Among the three main businesses of Sanan Optoelectronics, street lamps have become more and more important in the company's main profit structure in recent years. In 2011, nearly half of Sanan Optoelectronics’ main profit came from street lights.
Since 2010, Sanan Optoelectronics has received a total of 2.65 billion yuan of street lamp orders from the governments of Wuhu, Huainan, Quanzhou and Anxi.
Although in the announcement, Sanan Optoelectronics said that the high-power street lamps were "designed and produced by the company", but the reporter found that the company's street lamps are almost all from outsourcing.
Moreover, 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 is more than three times the market price.
In addition, Sanan Optoelectronics signed a street lamp contract with local governments, which not only has difficulties in implementation, but also is suspected of violating government procurement laws.
LED street light hacker
At the end of November 2011, the industry's authoritative research institute, the High-Tech LED Industry Research Institute (GLII) (hereinafter referred to as “High-tech LEDâ€) released the “2011 China LED Street Light Enterprise Competitiveness Rankingâ€, and conducted a detailed survey on the LED street lamp market. It involves the production and sales of 186 LED street lighting companies in China and the installation of LED street lights in more than 50 cities.
The top three in this ranking are Jiangsu Shifu, Dajin Oriental Lighting, and Qinshang Optoelectronics. Xiamen Xinda Optoelectronics Technology Co., Ltd. (hereinafter referred to as “Cinda Optoelectronicsâ€) under Xiamen Xinda ranks fifth. Cinda Optoelectronics' operating income in 2011 was 260 million yuan. However, Sanan Optoelectronics, which had a revenue of 580 million yuan in the street, was not on the list. Is this the leak of high-tech LEDs, or is the income of Sananguang circuit lights another hidden?
Xiamen Xinda's 2012 first-term short-term debt prospectus mentioned that its subsidiary, Cinda Optoelectronics, executed the orders processed by Sanan, mainly the 600 million yuan municipal LED street lamps in Wuhu. As of March 2012, Cinda Optoelectronics has executed an order amount of 437 million yuan.
According to the Sanan Optoelectronics Annual Report, the Wuhu Housing and Urban-Rural Construction Committee (hereinafter referred to as the “Wuhu Housing Construction Committeeâ€) purchased a total of 371 million street lamps in 2010 and 2011. Sanan Optoelectronics may supply all the street lamps in Wuhu in 2010 and 2011. Confident to optoelectronics.
In 2011, Sanan Optoelectronics' wholly-owned subsidiary, Anhui Sanan Optoelectronics, Tianjin Sanan Optoelectronics and Xiamen Sanan Optoelectronics, occupied three of Cinda's top five customers, contributing 92% of its revenue. In the 2012 semi-annual report of Xiamen Xinda, it also disclosed that the company is implementing orders for street lamps in Wuhu, Huainan and Quanzhou. These cities coincide with where Sanan Optoelectronics received orders for streetlights.
In December 2012, the reporter found in Anxi County, Fujian Province that the roads in Anxi District, including residential areas, almost all replaced LED street lights, but the nameplates displayed on the nameplates of several street lamps were Cinda Optoelectronics.
It is understood that the procurement, installation and operation of LED street lights in Anxi County are operated by Anxin Contract Energy Management Co., Ltd. (hereinafter referred to as “Anxin Contract Energyâ€). The relevant person in charge disclosed to reporters that all LED street lights in Anxi are from Cinda Optoelectronics. An employee of Sanan Optoelectronics Application Department admitted to the reporter that the company will produce application products in its own name in the future.
A number of evidences indicate that Sanan Optoelectronics' LED streetlights are from outsourcing, not its claimed “design and productionâ€. Sanan Optoelectronics only plays the role of “hacker†from the government in the LED streetlight business, contributing three. In 2011, nearly half of the main streetlight business of An Optoelectronics was actually street lamp trade.
1.24 million yuan a lamp
How expensive is the street lamp purchased?
In the announcement of the government procurement contract between Wuhu and Huainan, Sanan Optoelectronics did not mention the purchase price of street lamps; in the announcement of the street lamp procurement contract in Quanzhou and Anxi, the company stated that the purchase price was 62 yuan per watt.
An official of the Wuhu Housing Construction Committee revealed to reporters that the price of purchasing Sananguang circuit lights is 46 yuan per watt. Based on this calculation, according to the contract purchase model, each street lamp (90-200 watts) is 4140-9200 yuan. Quanzhou and Anxi are calculated at 62 yuan per watt, and the LED street lights (60-200 watts) of the two places are about 3720-12400 yuan/ç›.
According to the reporter's investigation in the above four places, the so-called "street lights" in various local contracts do not include street light poles, cables and construction installations. LED street lights with a purchase price of up to 10,000 yuan include only one street light head - and, not with solar energy Solar street lights for battery panels and batteries are just ordinary city circuit lights.
In the Wuhu government procurement designated information release media Wuhu City bidding procurement trading center online, the reporter found that many roads, lamp poles, cables, installation and commissioning is a separate tender, the tender notice indicates that the LED street light lamp head is provided by the tendering party.
Millions of street lights, how profitable?
A person in charge of the application department of Sanan Optoelectronics said bluntly to the reporter: "...Now it is estimated that no one in China is doing such a high price..."
A 2012 LED street light quotation form provided by Cinda Optoelectronics shows that the price of each type of street lamp is 16-19 yuan per watt. Cinda Optoelectronics said, "The price can be negotiated."
Gaogong LED told reporters that the current LED street lamp market is fiercely competitive and the price is chaotic, but the overall price is declining. According to the data provided by it, pure LED street lamps (ie, lamp holders) were around 30 yuan/watt in 2010, 23 yuan/watt in 2011, and 15-16 yuan/watt in 2012.
In 2012, the semiconductor lighting products financial subsidy promotion project bidding, China Electronics Import and Export Corporation by the Ministry of Finance, the Ministry of Science and Technology, the National Development and Reform Commission and other commissioned bidding procurement of high-power LED street lights, including foreign companies Philips, a total of 110 companies Participating in the bidding, the average price of the LED street light is less than 15 yuan / watt, of which the lowest price is only 8 yuan / watt.
In contrast, the unit price of 10,000 yuan street lamps is much higher than the average market price. If the unit price of 23 yuan / watt in 2011, Wuhu 46 yuan / watt order execution price exceeds the market average price 1 times, Quanzhou and Anxi 62 yuan / watt order price exceeds the market average price 1.5 times; by 2012, According to the average market price of 15 yuan / watt, Sanan Optoelectronics in Quanzhou and Anxi street lamp orders more than three times the average price of the market, even according to Cinda Optoelectronics maximum 19 yuan / watt of the price, the two government procurement The street light is also over quoted at 226%.
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 told reporters that the gross margin of street lamps is too high, so they are hidden in order to avoid unnecessary troubles.
Part of the street light order or a blank check
Investigating the implementation of orders for Sananguang circuit lights, the reporter found that in the large-scale street lamp procurement contracts signed with local governments, except for the implementation of streetlight orders by Huainan Urban and Rural Construction Committee (hereinafter referred to as “Huainan City Construction Committeeâ€), Other orders may have problems with contract execution.
Some orders for Sanan Optoelectronics' 2.65 billion yuan streetlights may be blank checks.
As of 2011, the Wuhu Housing and Construction Committee purchased 370 million yuan of LED street lamps for two years. This means that if you want to fulfill the three-year total purchase contract of 600 million yuan, at least 230 million yuan of street lamp purchases should be completed in 2012. However, the 2012 annual report disclosed that the Wuhu Housing Construction Committee did not enter the top five customers of Sanan Optoelectronics, while the fifth largest customer contributed an operating income of 154 million yuan.
The reporter learned from the relevant personages of Wuhu Street Light Purchasing that the Sananguang circuit lights purchased in 2012 were few, most of which were the street lights of Dehao Runda and Tiantian Quan. Sanan Optoelectronics public information also shows that in the first half of 2012, the Wuhu Housing Construction Committee only purchased less than 38 million yuan of street lamps.
In the LED street lamp procurement contract signed between Sanan Optoelectronics and Quanzhou and Anxi, there are similar provisions for annual purchases. The execution period of the street lamp procurement contracts in Quanzhou and Anxi is four years. In 2011-2014, the two places should purchase 163 million yuan and 237 million yuan respectively.
The contract shows that Anxi needs to purchase a total of 950 million yuan of street lamp orders for four years. As of the end of 2012, Anxi State-owned Assets Investment Co., Ltd. (hereinafter referred to as “Anxi Guotouâ€) purchased a total of 435 million yuan.
Anxi News Network reported that there are nearly 20,000 street lights and landscape lights in Anxi County. The aforementioned person in charge of Anxin contract energy also revealed to the reporter that as of the end of 2012, Anxi County had completed the replacement and installation of all 24,000 street lamps and landscape lights in the urban area.
If Anxi News reported that it is true, Anxi Guotou has executed a contract of 435 million yuan, even if it is calculated at the highest price of 12,400 yuan per baht, it also purchased 35,000 street lamps, far exceeding the actual installation of Anxi street lights and landscape lights. demand. And Anxi still has 515 million yuan orders to be executed, and will face problems in the next two years.
The issue of orders in Quanzhou seems to be even bigger.
According to the contract, Quanzhou has purchased 163 million LED street lamps from Sanan Optoelectronics every year since 2011. The report of Sanan Optoelectronics shows that in 2011 Quanzhou did not purchase any street lamps from Sanan Optoelectronics; in 2012, Quanzhou did not. Enter the top five customers of Sanan Optoelectronics. The reporter learned in local area in December 2012 that there was only one district in Quanzhou that was replacing LED street lights. The street light order in Quanzhou is more like a blank check.
Related party "rescue" street light business
In 2012, Sanan Optoelectronics' streetlight business saw a new customer, Anxin Contract Energy, and the reporter found in Anxi local investigation that Anxin Contract Energy is a related party of Sanan Optoelectronics.
According to its official website, the company is a specialized company operating on the basis of contract energy management mechanism and focusing on energy-saving services. It is a photovoltaic industry in Quanzhou (Hutou) by Xiamen Xinda and Anxi Foreign Trade Company. The joint venture of the park.
And Anxi News Network, a news article entitled "Strive to become a model county for contract energy management model" mentioned: Anxin Contract Energy Company registered capital of 100 million yuan, and Anxi County Foreign Trade Company (Anxi County Government State-owned sole proprietorship) invested 4000 10,000 yuan, Xiamen Xinda invested 40 million yuan and Sanan Optoelectronics invested 20 million yuan. Sanan Optoelectronics holds 20% of the shares.
Anxin contract energy insiders revealed in a conversation with reporters that the company’s shareholding ratio is 40% for Xiamen Xinda, 40% for the government (Anxi County Foreign Trade Company) and 20% for Sanan Optoelectronics. Confirmed the above news report.
Sanan Optoelectronics reported in its 2012 annual report that Anxin Contract Energy contributed the company's second largest customer, contributing 327 million yuan in operating income, accounting for 9.74% of the company's annual operating income. However, in the disclosure of major related party transactions in the annual report, there is no name for Anxin Contract Energy.
Street lamp government procurement is not open, suspected of breaking the law
On the local government procurement designated information publishing website, regarding the government procurement of 2.65 billion yuan in the four places of Sanan Optoelectronics, Wuhu, the reporter did not consult the relevant bidding information for the LED street light order.
For example, the Wuhu City Bidding and Purchasing Trading Center Network has a total of 33 pages of “Street Lights†information from 2007 to 2013. There is no bidding information for the 600 million street lamps signed by Sanan Optoelectronics in 2010.
A person from the Bihu City Tendering and Purchasing Center told reporters that as long as the public bidding is open, it will be announced on the bidding website, and there will be no withdrawal of the announcement after the bidding.
Relevant legal persons said that street lamps belong to public facilities, street lamp purchases are not state secrets, and there should be no inconvenient public trade secrets, and the order amount of Sanan Optoelectronics is huge. According to the "Regulations on the Implementation of the Government Procurement Law of the People's Republic of China", it is necessary to open bidding. . Moreover, he categorically denied that he could "do not open bidding because of the government's investment promotion."
In this regard, the person in charge of the Municipal Public Utilities Section of the Wuhu Municipal Housing Construction Committee flashed his words during a conversation with the reporter. He finally said that he did not know and refused to explain further. The insider revealed that the department is responsible for the street lighting project in Wuhu.
Another government official in Wuhu City revealed: “Sanan Optoelectronics is an investment attraction project, and no announcement is required. The city leaders came forward to engage in a meeting minutes and so on. After the decision, they signed contracts with relevant functional departments. These contracts are confidential and even us. Haven't seen it."
On the government procurement websites in Huainan, Anhui and Quanzhou, Fujian, the reporter also did not see the bidding procedures for the huge orders related to Sanan Optoelectronics.
(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.)
With the stock price skyrocketing, since 2009, Sanan Optoelectronics has made two consecutive non-public offerings of 3.8 billion yuan. In April 2011, Sanan Optoelectronics tried to open up additional funds of no more than 8 billion yuan, and then reduced to no more than 6.3 billion yuan, but terminated due to changes in the market environment.
Dongfeng, which has continuous financing, has a net asset of less than 500 million yuan and a total assets of less than 900 million yuan. As of the end of 2012, it has become a Shanghai-Shenzhen company with a net asset of 6 billion yuan and total assets of over 10 billion yuan. 300 (2498.695, 3.61, 0.14%) and SSE 180 constituent stock companies, up to 90 funds have a heavy position.
However, the reporter found that since Sanan Optoelectronics was listed on the backdoor, not only the majority of its profits came from government subsidies, but also its three main businesses: LED street lights (hereinafter referred to as "street lights"), LED chips (hereinafter referred to as "chips"), and gold waste materials recycling. The business problems are numerous, and the associated major customers are treated non-associated. The Tianjin and Wuhu projects are also suspected of inflating investment.
If a cautious investor observes the company’s profit for the calendar year – cut off the “regular subsidies†that are not frequent, and then cut off the “profit†of the “street light trade†that is actually subsidized by the government, and then cut off the “supported by related partiesâ€. The chip business, and finally cut off the unreliable "gold waste materials recycling business", you will find that the sausage has been cut.
However, this is the icy fundamental of supporting the big bull market with a market value of 20 billion yuan and an active volume every day.
Ten thousand street lamp truth
Among the three main businesses of Sanan Optoelectronics, street lamps have become more and more important in the company's main profit structure in recent years. In 2011, nearly half of Sanan Optoelectronics’ main profit came from street lights.
Since 2010, Sanan Optoelectronics has received a total of 2.65 billion yuan of street lamp orders from the governments of Wuhu, Huainan, Quanzhou and Anxi.
Although in the announcement, Sanan Optoelectronics said that the high-power street lamps were "designed and produced by the company", but the reporter found that the company's street lamps are almost all from outsourcing.
Moreover, 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 is more than three times the market price.
In addition, Sanan Optoelectronics signed a street lamp contract with local governments, which not only has difficulties in implementation, but also is suspected of violating government procurement laws.
LED street light hacker
At the end of November 2011, the industry's authoritative research institute, the High-Tech LED Industry Research Institute (GLII) (hereinafter referred to as “High-tech LEDâ€) released the “2011 China LED Street Light Enterprise Competitiveness Rankingâ€, and conducted a detailed survey on the LED street lamp market. It involves the production and sales of 186 LED street lighting companies in China and the installation of LED street lights in more than 50 cities.
The top three in this ranking are Jiangsu Shifu, Dajin Oriental Lighting, and Qinshang Optoelectronics. Xiamen Xinda Optoelectronics Technology Co., Ltd. (hereinafter referred to as “Cinda Optoelectronicsâ€) under Xiamen Xinda ranks fifth. Cinda Optoelectronics' operating income in 2011 was 260 million yuan. However, Sanan Optoelectronics, which had a revenue of 580 million yuan in the street, was not on the list. Is this the leak of high-tech LEDs, or is the income of Sananguang circuit lights another hidden?
Xiamen Xinda's 2012 first-term short-term debt prospectus mentioned that its subsidiary, Cinda Optoelectronics, executed the orders processed by Sanan, mainly the 600 million yuan municipal LED street lamps in Wuhu. As of March 2012, Cinda Optoelectronics has executed an order amount of 437 million yuan.
According to the Sanan Optoelectronics Annual Report, the Wuhu Housing and Urban-Rural Construction Committee (hereinafter referred to as the “Wuhu Housing Construction Committeeâ€) purchased a total of 371 million street lamps in 2010 and 2011. Sanan Optoelectronics may supply all the street lamps in Wuhu in 2010 and 2011. Confident to optoelectronics.
In 2011, Sanan Optoelectronics' wholly-owned subsidiary, Anhui Sanan Optoelectronics, Tianjin Sanan Optoelectronics and Xiamen Sanan Optoelectronics, occupied three of Cinda's top five customers, contributing 92% of its revenue. In the 2012 semi-annual report of Xiamen Xinda, it also disclosed that the company is implementing orders for street lamps in Wuhu, Huainan and Quanzhou. These cities coincide with where Sanan Optoelectronics received orders for streetlights.
In December 2012, the reporter found in Anxi County, Fujian Province that the roads in Anxi District, including residential areas, almost all replaced LED street lights, but the nameplates displayed on the nameplates of several street lamps were Cinda Optoelectronics.
It is understood that the procurement, installation and operation of LED street lights in Anxi County are operated by Anxin Contract Energy Management Co., Ltd. (hereinafter referred to as “Anxin Contract Energyâ€). The relevant person in charge disclosed to reporters that all LED street lights in Anxi are from Cinda Optoelectronics. An employee of Sanan Optoelectronics Application Department admitted to the reporter that the company will produce application products in its own name in the future.
A number of evidences indicate that Sanan Optoelectronics' LED streetlights are from outsourcing, not its claimed “design and productionâ€. Sanan Optoelectronics only plays the role of “hacker†from the government in the LED streetlight business, contributing three. In 2011, nearly half of the main streetlight business of An Optoelectronics was actually street lamp trade.
1.24 million yuan a lamp
How expensive is the street lamp purchased?
In the announcement of the government procurement contract between Wuhu and Huainan, Sanan Optoelectronics did not mention the purchase price of street lamps; in the announcement of the street lamp procurement contract in Quanzhou and Anxi, the company stated that the purchase price was 62 yuan per watt.
An official of the Wuhu Housing Construction Committee revealed to reporters that the price of purchasing Sananguang circuit lights is 46 yuan per watt. Based on this calculation, according to the contract purchase model, each street lamp (90-200 watts) is 4140-9200 yuan. Quanzhou and Anxi are calculated at 62 yuan per watt, and the LED street lights (60-200 watts) of the two places are about 3720-12400 yuan/ç›.
According to the reporter's investigation in the above four places, the so-called "street lights" in various local contracts do not include street light poles, cables and construction installations. LED street lights with a purchase price of up to 10,000 yuan include only one street light head - and, not with solar energy Solar street lights for battery panels and batteries are just ordinary city circuit lights.
In the Wuhu government procurement designated information release media Wuhu City bidding procurement trading center online, the reporter found that many roads, lamp poles, cables, installation and commissioning is a separate tender, the tender notice indicates that the LED street light lamp head is provided by the tendering party.
Millions of street lights, how profitable?
A person in charge of the application department of Sanan Optoelectronics said bluntly to the reporter: "...Now it is estimated that no one in China is doing such a high price..."
A 2012 LED street light quotation form provided by Cinda Optoelectronics shows that the price of each type of street lamp is 16-19 yuan per watt. Cinda Optoelectronics said, "The price can be negotiated."
Gaogong LED told reporters that the current LED street lamp market is fiercely competitive and the price is chaotic, but the overall price is declining. According to the data provided by it, pure LED street lamps (ie, lamp holders) were around 30 yuan/watt in 2010, 23 yuan/watt in 2011, and 15-16 yuan/watt in 2012.
In 2012, the semiconductor lighting products financial subsidy promotion project bidding, China Electronics Import and Export Corporation by the Ministry of Finance, the Ministry of Science and Technology, the National Development and Reform Commission and other commissioned bidding procurement of high-power LED street lights, including foreign companies Philips, a total of 110 companies Participating in the bidding, the average price of the LED street light is less than 15 yuan / watt, of which the lowest price is only 8 yuan / watt.
In contrast, the unit price of 10,000 yuan street lamps is much higher than the average market price. If the unit price of 23 yuan / watt in 2011, Wuhu 46 yuan / watt order execution price exceeds the market average price 1 times, Quanzhou and Anxi 62 yuan / watt order price exceeds the market average price 1.5 times; by 2012, According to the average market price of 15 yuan / watt, Sanan Optoelectronics in Quanzhou and Anxi street lamp orders more than three times the average price of the market, even according to Cinda Optoelectronics maximum 19 yuan / watt of the price, the two government procurement The street light is also over quoted at 226%.
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 told reporters that the gross margin of street lamps is too high, so they are hidden in order to avoid unnecessary troubles.
Part of the street light order or a blank check
Investigating the implementation of orders for Sananguang circuit lights, the reporter found that in the large-scale street lamp procurement contracts signed with local governments, except for the implementation of streetlight orders by Huainan Urban and Rural Construction Committee (hereinafter referred to as “Huainan City Construction Committeeâ€), Other orders may have problems with contract execution.
Some orders for Sanan Optoelectronics' 2.65 billion yuan streetlights may be blank checks.
As of 2011, the Wuhu Housing and Construction Committee purchased 370 million yuan of LED street lamps for two years. This means that if you want to fulfill the three-year total purchase contract of 600 million yuan, at least 230 million yuan of street lamp purchases should be completed in 2012. However, the 2012 annual report disclosed that the Wuhu Housing Construction Committee did not enter the top five customers of Sanan Optoelectronics, while the fifth largest customer contributed an operating income of 154 million yuan.
The reporter learned from the relevant personages of Wuhu Street Light Purchasing that the Sananguang circuit lights purchased in 2012 were few, most of which were the street lights of Dehao Runda and Tiantian Quan. Sanan Optoelectronics public information also shows that in the first half of 2012, the Wuhu Housing Construction Committee only purchased less than 38 million yuan of street lamps.
In the LED street lamp procurement contract signed between Sanan Optoelectronics and Quanzhou and Anxi, there are similar provisions for annual purchases. The execution period of the street lamp procurement contracts in Quanzhou and Anxi is four years. In 2011-2014, the two places should purchase 163 million yuan and 237 million yuan respectively.
The contract shows that Anxi needs to purchase a total of 950 million yuan of street lamp orders for four years. As of the end of 2012, Anxi State-owned Assets Investment Co., Ltd. (hereinafter referred to as “Anxi Guotouâ€) purchased a total of 435 million yuan.
Anxi News Network reported that there are nearly 20,000 street lights and landscape lights in Anxi County. The aforementioned person in charge of Anxin contract energy also revealed to the reporter that as of the end of 2012, Anxi County had completed the replacement and installation of all 24,000 street lamps and landscape lights in the urban area.
If Anxi News reported that it is true, Anxi Guotou has executed a contract of 435 million yuan, even if it is calculated at the highest price of 12,400 yuan per baht, it also purchased 35,000 street lamps, far exceeding the actual installation of Anxi street lights and landscape lights. demand. And Anxi still has 515 million yuan orders to be executed, and will face problems in the next two years.
The issue of orders in Quanzhou seems to be even bigger.
According to the contract, Quanzhou has purchased 163 million LED street lamps from Sanan Optoelectronics every year since 2011. The report of Sanan Optoelectronics shows that in 2011 Quanzhou did not purchase any street lamps from Sanan Optoelectronics; in 2012, Quanzhou did not. Enter the top five customers of Sanan Optoelectronics. The reporter learned in local area in December 2012 that there was only one district in Quanzhou that was replacing LED street lights. The street light order in Quanzhou is more like a blank check.
Related party "rescue" street light business
In 2012, Sanan Optoelectronics' streetlight business saw a new customer, Anxin Contract Energy, and the reporter found in Anxi local investigation that Anxin Contract Energy is a related party of Sanan Optoelectronics.
According to its official website, the company is a specialized company operating on the basis of contract energy management mechanism and focusing on energy-saving services. It is a photovoltaic industry in Quanzhou (Hutou) by Xiamen Xinda and Anxi Foreign Trade Company. The joint venture of the park.
And Anxi News Network, a news article entitled "Strive to become a model county for contract energy management model" mentioned: Anxin Contract Energy Company registered capital of 100 million yuan, and Anxi County Foreign Trade Company (Anxi County Government State-owned sole proprietorship) invested 4000 10,000 yuan, Xiamen Xinda invested 40 million yuan and Sanan Optoelectronics invested 20 million yuan. Sanan Optoelectronics holds 20% of the shares.
Anxin contract energy insiders revealed in a conversation with reporters that the company’s shareholding ratio is 40% for Xiamen Xinda, 40% for the government (Anxi County Foreign Trade Company) and 20% for Sanan Optoelectronics. Confirmed the above news report.
Sanan Optoelectronics reported in its 2012 annual report that Anxin Contract Energy contributed the company's second largest customer, contributing 327 million yuan in operating income, accounting for 9.74% of the company's annual operating income. However, in the disclosure of major related party transactions in the annual report, there is no name for Anxin Contract Energy.
Street lamp government procurement is not open, suspected of breaking the law
On the local government procurement designated information publishing website, regarding the government procurement of 2.65 billion yuan in the four places of Sanan Optoelectronics, Wuhu, the reporter did not consult the relevant bidding information for the LED street light order.
For example, the Wuhu City Bidding and Purchasing Trading Center Network has a total of 33 pages of “Street Lights†information from 2007 to 2013. There is no bidding information for the 600 million street lamps signed by Sanan Optoelectronics in 2010.
A person from the Bihu City Tendering and Purchasing Center told reporters that as long as the public bidding is open, it will be announced on the bidding website, and there will be no withdrawal of the announcement after the bidding.
Relevant legal persons said that street lamps belong to public facilities, street lamp purchases are not state secrets, and there should be no inconvenient public trade secrets, and the order amount of Sanan Optoelectronics is huge. According to the "Regulations on the Implementation of the Government Procurement Law of the People's Republic of China", it is necessary to open bidding. . Moreover, he categorically denied that he could "do not open bidding because of the government's investment promotion."
In this regard, the person in charge of the Municipal Public Utilities Section of the Wuhu Municipal Housing Construction Committee flashed his words during a conversation with the reporter. He finally said that he did not know and refused to explain further. The insider revealed that the department is responsible for the street lighting project in Wuhu.
Another government official in Wuhu City revealed: “Sanan Optoelectronics is an investment attraction project, and no announcement is required. The city leaders came forward to engage in a meeting minutes and so on. After the decision, they signed contracts with relevant functional departments. These contracts are confidential and even us. Haven't seen it."
On the government procurement websites in Huainan, Anhui and Quanzhou, Fujian, the reporter also did not see the bidding procedures for the huge orders related to Sanan Optoelectronics.
(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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