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SVA will be trapped into a rainbow game hunters 5th generation line of M & A

In Electronic Infomation Category: R | on July   10, 2011

For cash-strapped, suffering from 5th generation line of tired SVA face the olive branch delivery to the Rainbow Group, a happy and MAX517BCSA datasheet and active negotiations to change the traditional door. Sides of the transaction, seems to hit it off.

5th generation LCD panel production line in the broadcasting eyes is "tasteless", but in the eyes of the Rainbow Group has become a "meat and MAX517BCSA price and potatoes."

2009 Nian 5 Yue 15 Ri , "IT Times," to get the exact message is: the largest color picture tube manufacturing company Rainbow Group is in close contact with the SVA, to acquire the latters 5th generation LCD panel production line consultations. Although the parties are very low-key so far, do not want to disclose more details of the talks, but according to those familiar with the situation said, "dealing a great possibility."

The heavy losses, the Shanghai Municipal Government on March 31 this year, the establishment of care group, the restructuring of the SVA. The transaction in order to prevent stock prices, SVAs two listed companies - Shanghai SVA Information Industry Co., Ltd. (the "Radio Information") and MAX517BCSA suppliers and Shanghai SVA Electron Co., Ltd. (hereinafter referred to as "Radio Electronics") from April 15, suspended for a month. But by May 15, the reorganization team leader Jiang Yao was submitted to the Shanghai Stock Exchange announced restructuring plan delayed materials, and apply to the two listed subsidiaries to continue suspension.

One has been confirmed the news that the group managed to submit a restructuring plan on the radio and television access to the Shanghai Municipal Government, "approved in principle", but this program did not end on the 5th generation line of fate to detail. Many market analysts infer from this that: "the restructuring plan on public radio and television delay, or to reach a deal with the Rainbow Group to create the conditions." Why Rainbow

SVA Group has become the burden of fancy 5th generation line? Can the two sides finally reached a deal?

Rainbow intended to transition

Headquartered in Xian, Rainbow Group is large enterprises directly under SASAC is the largest manufacturer of CPT, and employs 2 million people. Is such a focus on the CRT (conventional CRT) business, but now they took a fancy to the 5th generation line on the radio and television. A reporter on the radio and television executives admitted to the M & A events, the Rainbow Group, the first delivery to the olive branch up radio and television, both sides have some time for this communication.

Rainbow Group acquisition at this time why the 5th generation line on the radio and television? Most people the answer is "to accelerate business transformation."

Recent years, the rapid development of flat panel display industry, give the Rainbow CRT-based industry group increasing market pressures. Since fiscal year 2005, production of color picture tubes of its main business to the listed subsidiary of Rainbow shares for the first time reported 552 million yuan loss, the loss of 755 million yuan over the same period of the Rainbow Group, will be profound reflection, and finally the conclusion: the rapid development of flat panel display, The TV manufacturers to adjust product structure, leading to reduced demand for color picture tubes, the product price drop is too large. Therefore, the Rainbow Group to the plate transformation is the only way to reverse the unfavorable situation.

2006 Nian 3 27, its first joint venture with the Changhong Group, 200 million (50% each), plasma screens set up R & D is mainly engaged in the production of Beijing Century Shuanghong Display Devices Co., Ltd. (the "Century Shuanghong "). In the same year in October, the two sides once again surge in capital from 200 million to 18 million. Since then two months later, the World Shuanghong MP again, and the United States was established 225 million joint venture in Sichuan COC Display Devices Co., Ltd., in the plasma module development, production and sales.

Industry in the flat, well-known dominance of LCD products, the Rainbow Group, of course, will not ignore this.

2007 Nian 1 month, it invested 1.3 billion to build the first domestic LCD glass substrate production line, has entered the LCD TV upstream.

Next year in June, to continue to strengthen its flat panel business, the Rainbow Group, another listed subsidiary of Rainbow Electronics CPT production line will be 4 to transfer all Rainbow shares, the price to 3.1 billion acquired from the parent company has just completed production of rainbow glass 69.53% of the shares, thus becoming the first domestic LCD glass substrate manufacturing enterprises. It was then, the Rainbow Group of flat-panel business in 2012 to 200 billion yuan of sales revenue goals.

To achieve these objectives, October 7, 2008, the Rainbow Group in Zhangjiagang City, Jiangsu Province, 15.0 billion investment in the construction of a 6th generation LCD panel production line. The line to be completed each year 4,372,000 32/37 inch LCD TV panel production. Not only that, around 6 Line, Rainbow Group is also supporting the construction of cooperation with local governments, including color filter, glass substrate and backlight module related industries, including the intention to build the biggest and the best flat panel display industry chain industrial park .

Industry analysts believe that the acquisition of the Rainbow Group, SVA 5th generation line will bring three benefits: First, to have been built or will be the construction of upstream enterprises to increase digestion; secondly, to make up its panel manufacturing technology and resources deficiencies; Third, a number of production lines operating simultaneously, to achieve economies of scale.

Or to buy the dips trading

Hosted parties in accordance with published data, 2006,2007 and 2008 the net loss on the radio and television were 216 million, 750 million and 18 million; SVA Information and SVA Electron respectively, 991 million yuan last year, and 8.56 million deficit. Another analyst said that if the rest of its statistics more than 30 non-listed companies, the overall loss on the radio and television would be more "spectacular."

"In fact, this illustrates a problem: As a 5th generation line of the main shareholder, SVA and its enterprises have been unable to re-transfusion of the project." Some analysts pointed out, SVA years of losses, and its two listed subsidiaries of the tendency seems to have followed suit - the first quarter of this year, broadcasting information only accounted for 3.09 million yuan profits, while the radio and electronic losses are again nearly 1 billion. In fact, the 5th generation line is considered just cause the main reason for poor performance of the enterprise.

Put into operation since October 2006 since the 5th generation line SVA has been no profit. Last year, SVA NECs gross profit margin from 8.53% in 2007 dropped to 1.48%, and its loss of nearly 4 years total of over 20 billion! And continued loss SVA NEC is not only, but also owe the bank more than 40 billion loan, even with a registered capital has been largely lost light. Strand breaks due to funding, the production of this enterprise is only placed in May, June will have to see whether the production of upstream raw material suppliers attitude. If they refuse to supply, 5th generation line can only be stopped.

"For the arrival of the Rainbow Group, SVA has been showing hope for meaning." Insiders said the party will be hosted went to Xian in the near future negotiations, not the Rainbow Group to Shanghai. This shows the loss of the negotiations on the radio and television initiative. Coupled with the financial crisis and falling LCD panel prices double periodic pressure, the buyer, or to achieve hunters transactions.

Two guess

The leadership of Shanghai Municipal Government, key stakeholders have been involved in the decision-making on the re-broadcasting, and therefore, the official attitude may be the fate of about 5 on behalf of the line.

A voice, the Shanghai municipal government will not easily give up the 5th generation line, as it has been put in a lot of resources, SVA NEC Flat Panel Display Industrial Park Minhang is the core business, 5th generation line if the change of ownership Shanghai Industrial lost the most basic right to speak. "In the countries have clearly flat-panel industry as a strategic industry, will remain in the 5th generation line of radio and television and temporarily hosted by the Shanghai Municipal Government, is more cautious."

Another opposition is that in order to save the SVA 5 generation line, at least tens of billions of funds, the Shanghai municipal government will put that "burden" smoothly transferred to the Rainbow Group.

It is reported that Shanghai Party Secretary Yu said recently, although it can not simply decide the fate of some of the advanced manufacturing companies, but given the current part of the business can not survive, the pain of not wanting to die situation, it is necessary to do reconstruction, restructuring , or just re-construction. He said, "Shanghai to launch a number of restructuring projects, welcome domestic and international leader in the industry to reorganize our business. Some companies focus too busy to think, rather than let it live well, might as well let someone else do a good job. "

"This acquisition of the Rainbow Group to provide a favorable policy conditions." Shanghai municipal government staff, who asked not to be named, pointed out that the Rainbow Group will activate on the Radio 5 on behalf of the line, so as to promote the continued development of related industries in Shanghai. The particular need to point out that SVA is planning to cross the line and 6 on behalf of the 7.5-generation line, launched directly into a greater level of technology, demanding the 8th generation line, which is also unlikely to stick to the 5th generation line.

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