Zhong Xincai Cold War Osram Buddha wants to use LED to break through
I don’t want to be overweight by foreign shareholders, which leads to a monopoly. I don’t expect competitors to help me at the Foshan Lighting General Meeting yesterday. Although the representative of the largest shareholder, Osram Asia Pacific’s executive vice president, Pan Dali, is on the scene, but the coach Zhong Xincai Obviously expressed his dissatisfaction. The reporter was also informed at the meeting that although OSRAM has mastered the core technology, the LED business of the next development of the Buddha's photo is not able to get the majority shareholder's attention, and can only seek cooperation in Japan or South Korea.
In the Chinese stock market, Foshan Lighting has been hailed as a cash cow for A shares because of its insistence on dividends for more than a decade. Yesterday, Foshan Lighting's shareholders meeting, once again passed 10 shares to increase 4 shares, the distribution of 2.2 yuan cash dividend dividend plan. However, after Osram entered the Buddha's photo in 2005, the marriage was not expected to be beautiful, but the Buddha's photo did not benefit from Osram, and the rift was deep.
Major shareholder becomes a competitor
In 2005, Foshan SASAC transferred its 23.79% Foshan Lighting State-owned shares to OSRAM Holdings and Hong Kong Youchang Lighting Equipment Co., Ltd., of which the former held 13.47% and became the major shareholder. Osram is a wholly-owned subsidiary of Siemens and one of the world's two largest light source manufacturers. This background makes the market full of embarrassment for the future of the Buddha. But the truth is not as ideal as imagined.
At the shareholders meeting, some investors questioned why the brand of Foshan Lighting was not as good as it used to be in the past two years. On the road in Foshan, you can see that the large billboards of lighting products such as Osram are passing by, and the billboards of Foshan Lighting are compared. Rare?
According to the agreement, after the completion of the share transfer, the purchaser should prompt Osram to provide appropriate technical assistance and support to Foshan Lighting in accordance with the terms and conditions agreed by Foshan Lighting and Osram. However, before this, Zhong Xincai publicly stated that relying on external introduction is not a feasible way from now on, the key is to rely on himself.
I believe that if Osram really wants to be a major shareholder and sell more Foshan lighting products, we can also play Osram's brand, Zhong Xincai said yesterday. According to the previous agreement, OSRAM will purchase at least 10 million US dollars of light products from Foshan Lighting in accordance with the terms of the lamp product purchase contract within 5 years, but Zhong Xincai told reporters that if the RMB is not appreciated, the agreement of 10 million US dollars last year may not be completed. Opponent, don't expect him to help me.
In fact, in addition to participating in Foshan Lighting, Osram also established Osram Foshan Lighting Co., Ltd. in Foshan. In some businesses, there is direct competition with Foshan Lighting. This complex relationship, and the 13.47% shareholding structure, has led to the current embarrassing situation of Osram and Buddha. Some shareholders asked that the current continuous delivery of Buddha photos may change the company's blue-chip image. Zhong Xincai is even more blunt. We want to avoid large shareholders' holdings at low prices and there is a big situation.
The handsome man goes out of the mountain and borrows LED to break through.
Before Osram entered the company, Zhong Xincai, the chairman of Foshan Lighting, was removed from the post of general manager. Liu Xingming, the former deputy general manager, took over. However, at the end of 2008, Zhong Xincai regained his responsibility and reflected the current situation from another angle. The complicated situation after the change of the shareholders of Fozhao. At present, Mr. Liu mainly focuses on sales. Chairman Zhong is responsible for cost procurement and construction of Gaoming Industrial Zone plant. Foshan Lighting Director Lin Yuhui told reporters.
From 2004 to 2008, the total profit of Foshan Lighting was 290 million yuan, 260 million yuan, 320 million yuan, 500 million yuan, and 224 million yuan. After eliminating the loss of securities investment, the net profit of Foshan's main business in 2008 increased. 2.01%, although not affected by the financial crisis, but compared with the rising star of Zhejiang Sunshine, the development speed is slowing down. Zhong Xincai is obviously a little anxious. It is reported that at the end of last year, at the beginning of this year, Fo Zhao successfully reorganized the management team, dismissing those who are incompetent and have low management standards, and more than 10 people. The current middle and high-level tasks are aggravated and the future will be selected.
In the annual report of Fo Zhao, the mention of LED lights (new energy-saving lamps) business will be one of the key plans in 2009, which is also the important task of Zhong Xincai before retirement. According to Zhong Xincai, it is already looking for overseas partners, and the partners must be willing to provide patented technology.
At present, the core technology of LED is in the hands of international companies such as OSRAM, Nichia, Samsung and Lumileds. However, it is clear that Osram has no intention to cooperate with the Buddha in terms of LEDs. It is understood that Japan and Samsung may become even bigger partners.
How can the Buddha's and Osram's grudges be resolved? The old man Zhong Xincai can create more glory before he retires. Around Foshan Lighting, this old-fashioned blue-chip stock, the story is still continuing.
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