Xiamen Xinda advance in the fog: 342 million yuan into 97.95 million yuan

This reporter Tanakana by the first half of this year LED lighting industry recovery, a number of domestic listed companies to throw a succession of expansion plans, and the most eye-catching is a company is not focused on led industry-Xiamen Xinda (000701.SZ). By virtue of the proximity of the photoelectric industry developed in Taiwan Province, but also with the domestic led three-Ann photoelectric Fellow, the original led business accounted for less than 2% of the annual revenue of Xiamen Xinda, the September Festival expansion plan: The increase of nearly 540 million yuan for expansion of production lines, 57.32 million Yuan Holdings Shenzhen AMP optoelectronic Technology Co. Investment of 65.2 million yuan to the holding subsidiary to achieve full holding. Xiamen Xinda is want to catch up with LED enterprises "three safety photoelectric"? This may not be the case, because all the things that Xiamen Xinda does seem to be tightly centered around the word "three-ann". Capital expansion to do the market China's LED features are: First, China's led potential demand market is huge, domestic and foreign enterprises want a piece of it; second, the government's Twelve-Five planning to include photovoltaic industry in the key development areas, and local support and subsidies, so that many enterprises to join the LED industry; LED industry is characterized by large-scale to achieve cost reduction, so rely on capital, expansion and expansion, bigger and bigger, become the preferred market strategy of LED enterprises, the domestic listed companies flocked to increase this year has proved this status quo. Xiamen Xinda is no exception. Xiamen Xinda starting from 2007 into the LED industry, to 2012, operating income reached 348 million yuan, but compared to other domestic manufacturers, Xiamen Xinda Business scale is still relatively dependent on the led by the senior engineer led industry 25 rankings, Xiamen Xinda is still in 25. September 11, Xiamen Xinda announced the non-public issue of stock options, the proposed increase in the issuance of not more than 80 million shares, the total amount of fund-raising not more than 700 million yuan, which for the LED construction of nearly 540 million yuan. September 17, Xiamen Xinda Holding subsidiary Xiamen Xinda Photoelectric Technology Co., Ltd. (hereinafter referred to as "Xinda photoelectric") and Shovenyu, Huang Wan Ming, Yin Zhihao signed the transfer of shares agreement, the acquisition of Shenzhen AMP Photoelectric Technology Co., Ltd. (hereinafter referred to as "Shenzhen Amp") 65% equity, the transfer price of 57.33 million yuan. September 26, Xiamen Xinda again shot, and Xiamen Lang Starlight Electric Co., Ltd. (hereinafter referred to as "Lang Starlight Power") signed the transfer of shares agreement, the acquisition of Lang Starlight Electric holding of the letter Tatsu 30% Equity, the transfer price of 65.2 million yuan, to this point, Xiamen Xinda has a letter Tatsu photoelectric 100% equity. Xiamen Xinda through the acquisition to achieve expansion, almost overnight completed. However, the current domestic led industry technology is not strong, just bigger, and there is overcapacity problem, Xiamen Xinda can really cope with the future market shuffle? In this respect, Xiamen Xinda Securities Affairs representative Lin Huiting said, as a demand in a significant increase in emerging industries, the early emergence of the situation is very common investment. 2012 years of traditional lighting source sales and 1 billion, saidMing LED lighting potential market is huge, with the promotion of cost-effective, LED lighting will gradually enter these market areas, bringing huge market development space. Have doubts about the relationship with the three security however, Xiamen Xinda the above growth and acquisition behavior, may not be based on market judgments of independent behavior, and the group is likely to play a leading role, because Xiamen Xinda business and two mergers have three "phantom". And, after two acquisitions and the completion of the increase, with the three-security photoelectric business cooperation will be more closely. As early as April this year, there are media inquiries that the three photoelectric and the letter Tatsu photoelectric relationship, and the three photoelectric also with the Lang Starlight Electric and AMP Photoelectric Existence Association. "Securities daily" reporter inquires, in recent years, Xiamen Xinda and three security photoelectric and the second largest shareholder three security group business dealings close. Xinda Photoelectric and Tianjin three-an photoelectric each year also has tens of millions of dollars of business dealings, and Xiamen letter up to 2013.5 Annual report, the period received Xiamen three-an Photoelectric Technology Co., Ltd. and Fujian three groups of the exchange to reach more than 90 million yuan, the period of payment of Anhui Three Photoelectric Co., Ltd. of the current payments reached 71.17 million yuan. Now, very coincidentally, Xiamen letter amounted to the acquisition of the Lang Starlight Electric 30% of the letter Tatsu photoelectric shares, and, Xinda Photoelectric also acquired the AMP photoelectric 65% of the shares. Even more bizarre is the Xiamen Xinda prepaid Fujian Group of accounts 340 million yuan, and the disclosure of the amount of three security group is far from the gap. Three-an optoelectronics is almost the industry's leading, and Xiamen Xinda is also in the LED industry closer, Xiamen Xinda a series of expansion in the end with the three photoelectric what the relationship, why Xiamen Xinda acquisition of enterprises are three photoelectric is questioned by the relevant party? In addition, the "Securities daily" reporter also consulted, Xiamen letter up to 2013 years in the report listed, as of June 30, Xiamen Xinda to the Fujian Tri-Group prepaid payment of up to 342 million yuan, and at the end of 2012, the Fujian Tri-security group prepaid is not more than 40 million yuan. But the balance sheet of the parent company, which was released recently by the Fujian group, showed that, as of June 30, the total amount received was only 97.95 million yuan. What are the reasons for the difference between prepayment and advance of at least 244 million yuan?