"My eyes are full of opportunities, but I care more about risks. Differences are not a problem, everything is done according to the rules of the board of directors." Just as NVC Lighting CEO (02222.HK) CEO Wu Changjiang talked on the stage, director In the name of the toilet, Changchun quietly left the venue.
In the past year, the founder Wu Changjiang announced at the performance meeting on March 27 that the board of directors has agreed to add two independent non-executive directors in the lighting industry and will return as soon as possible according to the company procedures. Board of Directors.
Wu Changjiang told reporters: "The introduction of Dehao Runda is purely for the expansion of NVC's LED business. I and Wang Dong (Duo Hao Runda Chairman Wang Donglei) are both self-made entrepreneurs, and they agree with each other. There is no such thing as dragging. High stock prices, to drive away the arguments of strategic investors." Whether it is 阎焱 or Wu Changjiang, can not create the absolute authority of "one word". The addition of Wang Donglei has created a win-win atmosphere on the surface. Dehao exclusively enjoys the mature sales channels of NVC; NVC has acquired the upstream chip technology and realized the layout of the LED industry chain. In fact, the three have their own calculations, and the temporary common interests have caught the "Big Three."
After Schneider, will this be another gamble of NVC?
Establishing a high-level undercurrent in the industry
The reporter was informed that the two-day NVC board meeting had in principle approved the addition of two independent non-executive directors, who must be experts in the lighting industry. As Wu Changjiang returns to the board of directors, the previous eight-person decision-making level will soon expand to 11 people.
Among them, Wu Changjiang will form an industry alliance with Wang Haolei, Chairman of Dehao, Chairman of the China Lighting Association, Wang Jinxi, and two new independent directors. Together with entrepreneurial partner Mu Yu, Wu will occupy the majority of the decision-making level. ". The chairman of the board of directors, Lin Lin, is a "tether"; Schneider China's president Zhu Hai has remained neutral since the outbreak.
Wu Changjiang's move can be described as a double-edged sword, which not only introduces strong support, but also has the right to speak on the board of directors.
"NVC has never had a 'man rule', and both I and I agree that any company decision must comply with the board of directors' rules of procedure. Join the industry's independent non-executive directors. When the two sides disagree, balance the demands of all parties. And responsible performance of shareholders." Wu Changjiang stressed.
Softbank Saifu has changed from a former outside investor to a decision maker of NVC. In the eyes of founder Wu Changjiang, this group of masters who play with capital does not understand the survival of the lighting industry. “In the face of the same acquisition, we are very concerned about the potential risks of the transaction, and I only pay attention to whether the transaction is beneficial to NVC's industrial upgrading and sales growth after the completion of the transaction,†he said.
When asked when to return to the board of directors, Wu Changjiang said that it will be handled in accordance with the company procedures, and I believe that it will be implemented soon. The selection of two new independent non-executive directors will also be announced.
Chinese investors who did not want to be named said that Wu Changjiang’s “return to the DPRK†was a big plus for the share price of NVC, which proves that the corporate governance crisis has come to an end. However, Wu and Yu still need time to re-determine the common interest goal, believing that performance and time will dilute the contradiction.
The reporter tried to find a response to the new independent directorship and was rejected.
Layout LED industry chain will be big after the chaos?
In 2012, NVC Lighting's net profit fell 99% to only 8.416 million yuan, and core profit indicators such as revenue, gross profit margin and net interest rate fell across the board. For the first time in 13 years since its founding, the company has lived up to its commitment to shareholders and investors.
Under internal and external troubles, Wu Changjiang strongly introduced Guangdong Dehao Runda Electric, at the expense of the company's major shareholder status in exchange for NVC's industrial upgrading. With this convincing strategic cooperation, he will return to the board of directors after a year.
Wang Donglei said: "NVC will become the flagship brand of Dehao LED business, leading the sales channels of China and the entire Asian market. With the deepening of cooperation between the two sides, the synergy effect of technology and sales channels will be more and more, and the target will dominate global lighting. industry."
Compared with the timid and cautious, Wu Changjiang seems to appreciate the same heroic Wang Donglei. He told reporters: "The development opportunities of LED are close at hand, and their own research and development is too late. Dehao has brought us the core technology of the middle and upper reaches. This year is the beginning of the great changes in China's lighting industry."
The foreign fund manager attending the investor conference revealed that he basically recognized Wu and Wang’s development strategy. The decision structure of the “Big Three†was mutually restrained, which improved the original family-style corporate governance. It is expected to greet Dazhi after the chaos. ".
“In terms of industry analysis, Dehao Runda is one of the few companies in China that masters upstream epitaxial wafers and chip technology. The packaging capacity of midstream lamps is also among the best. NVC’s advantage lies in the design of middle and lower reaches and huge sales channels. The company has established a full industrial chain of LEDs. It is believed that after the end of the infighting, the company will re-enter the period of rapid growth.†Xie Jianying, an analyst at Bank of Communications International Technology, believes that NVC lighting may recover strongly this year.
Looking ahead, Wu Changjiang expects to increase sales targets by at least 20% this year. The company plans to invest nearly 100 million yuan this year to expand its overseas marketing network and separately develop online sales channels. Chief Financial Officer Tan Ying clarified that NVC will use the experience of Taobao and Alibaba [microblogging] to develop e-commerce on its own, hoping to become the company's new business growth point.
Wu Changjiang pointed out that this year will focus on promoting the sales of LED products, expanding brand penetration into county-level cities and towns and cities, increasing domestic coverage, and planning to add 1600 sales outlets; and overseas, further enhance the UK-based sales network. The merger and acquisition increased the number of specialty stores, focusing on large-scale sports events.
(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.)
In the past year, the founder Wu Changjiang announced at the performance meeting on March 27 that the board of directors has agreed to add two independent non-executive directors in the lighting industry and will return as soon as possible according to the company procedures. Board of Directors.
Wu Changjiang told reporters: "The introduction of Dehao Runda is purely for the expansion of NVC's LED business. I and Wang Dong (Duo Hao Runda Chairman Wang Donglei) are both self-made entrepreneurs, and they agree with each other. There is no such thing as dragging. High stock prices, to drive away the arguments of strategic investors." Whether it is 阎焱 or Wu Changjiang, can not create the absolute authority of "one word". The addition of Wang Donglei has created a win-win atmosphere on the surface. Dehao exclusively enjoys the mature sales channels of NVC; NVC has acquired the upstream chip technology and realized the layout of the LED industry chain. In fact, the three have their own calculations, and the temporary common interests have caught the "Big Three."
After Schneider, will this be another gamble of NVC?
Establishing a high-level undercurrent in the industry
The reporter was informed that the two-day NVC board meeting had in principle approved the addition of two independent non-executive directors, who must be experts in the lighting industry. As Wu Changjiang returns to the board of directors, the previous eight-person decision-making level will soon expand to 11 people.
Among them, Wu Changjiang will form an industry alliance with Wang Haolei, Chairman of Dehao, Chairman of the China Lighting Association, Wang Jinxi, and two new independent directors. Together with entrepreneurial partner Mu Yu, Wu will occupy the majority of the decision-making level. ". The chairman of the board of directors, Lin Lin, is a "tether"; Schneider China's president Zhu Hai has remained neutral since the outbreak.
Wu Changjiang's move can be described as a double-edged sword, which not only introduces strong support, but also has the right to speak on the board of directors.
"NVC has never had a 'man rule', and both I and I agree that any company decision must comply with the board of directors' rules of procedure. Join the industry's independent non-executive directors. When the two sides disagree, balance the demands of all parties. And responsible performance of shareholders." Wu Changjiang stressed.
Softbank Saifu has changed from a former outside investor to a decision maker of NVC. In the eyes of founder Wu Changjiang, this group of masters who play with capital does not understand the survival of the lighting industry. “In the face of the same acquisition, we are very concerned about the potential risks of the transaction, and I only pay attention to whether the transaction is beneficial to NVC's industrial upgrading and sales growth after the completion of the transaction,†he said.
When asked when to return to the board of directors, Wu Changjiang said that it will be handled in accordance with the company procedures, and I believe that it will be implemented soon. The selection of two new independent non-executive directors will also be announced.
Chinese investors who did not want to be named said that Wu Changjiang’s “return to the DPRK†was a big plus for the share price of NVC, which proves that the corporate governance crisis has come to an end. However, Wu and Yu still need time to re-determine the common interest goal, believing that performance and time will dilute the contradiction.
The reporter tried to find a response to the new independent directorship and was rejected.
Layout LED industry chain will be big after the chaos?
In 2012, NVC Lighting's net profit fell 99% to only 8.416 million yuan, and core profit indicators such as revenue, gross profit margin and net interest rate fell across the board. For the first time in 13 years since its founding, the company has lived up to its commitment to shareholders and investors.
Under internal and external troubles, Wu Changjiang strongly introduced Guangdong Dehao Runda Electric, at the expense of the company's major shareholder status in exchange for NVC's industrial upgrading. With this convincing strategic cooperation, he will return to the board of directors after a year.
Wang Donglei said: "NVC will become the flagship brand of Dehao LED business, leading the sales channels of China and the entire Asian market. With the deepening of cooperation between the two sides, the synergy effect of technology and sales channels will be more and more, and the target will dominate global lighting. industry."
Compared with the timid and cautious, Wu Changjiang seems to appreciate the same heroic Wang Donglei. He told reporters: "The development opportunities of LED are close at hand, and their own research and development is too late. Dehao has brought us the core technology of the middle and upper reaches. This year is the beginning of the great changes in China's lighting industry."
The foreign fund manager attending the investor conference revealed that he basically recognized Wu and Wang’s development strategy. The decision structure of the “Big Three†was mutually restrained, which improved the original family-style corporate governance. It is expected to greet Dazhi after the chaos. ".
“In terms of industry analysis, Dehao Runda is one of the few companies in China that masters upstream epitaxial wafers and chip technology. The packaging capacity of midstream lamps is also among the best. NVC’s advantage lies in the design of middle and lower reaches and huge sales channels. The company has established a full industrial chain of LEDs. It is believed that after the end of the infighting, the company will re-enter the period of rapid growth.†Xie Jianying, an analyst at Bank of Communications International Technology, believes that NVC lighting may recover strongly this year.
Looking ahead, Wu Changjiang expects to increase sales targets by at least 20% this year. The company plans to invest nearly 100 million yuan this year to expand its overseas marketing network and separately develop online sales channels. Chief Financial Officer Tan Ying clarified that NVC will use the experience of Taobao and Alibaba [microblogging] to develop e-commerce on its own, hoping to become the company's new business growth point.
Wu Changjiang pointed out that this year will focus on promoting the sales of LED products, expanding brand penetration into county-level cities and towns and cities, increasing domestic coverage, and planning to add 1600 sales outlets; and overseas, further enhance the UK-based sales network. The merger and acquisition increased the number of specialty stores, focusing on large-scale sports events.
(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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