As one of the common financing methods used by major shareholders, equity pledge is more common in the capital market.

What is equity pledge? In fact, the shareholder side pledges the restricted shares held by the listed company, which is a guarantee for its own financing. As far as the incident itself is concerned, there is little impact on stock prices. The listed companies that dare to do equity pledge are more confident about the corresponding investment direction, so there will be some institutions for the holders to come in, so there will be a tendency for the stocks to maintain stability, but they There are some fluctuations when you want to quit.

According to Gaogong LED observation, in recent days, a number of LED listed companies have successively issued announcements on the pledge of stockholders' stocks. Some listed companies are conducting stock pledges, and some are carrying out equity supplement pledges. Among them, there are many LED giants such as Sanan Optoelectronics.

Sanan Optoelectronics

On August 7, Sanan Optoelectronics received notice from its shareholder Sanan Group and Xiamen Sanan Electronics on its stock pledge and pledged repo transactions, as follows:

On August 3, 2018, Sanan Electronics pledges it to 80 million shares of Industrial Securities Co., Ltd. (about 1.96% of the company's total share capital). The unrestricted tradable shares are subject to the pledge of stocks; August 6, 2018 Sanan Electronics handled 33.9 million shares of the company's unrestricted shares in circulation (about 0.83% of the company's total share capital) in the stock pledged repo transaction business for a period of one year.

On August 6, 2018, Sanan Group handled 8.8 million shares of the company's unrestricted shares in circulation (about 0.22% of the company's total share capital) in Guokai Securities Co., Ltd. for stock pledged repo. Supplementary pledge, the period is from August 6, 2018 to April 2, 2019.

The above procedures for the cancellation of pledge and pledge have been completed at China Securities Depository and Clearing Co., Ltd.

As we all know, Sanan Optoelectronics is a "semiconductor lighting engineering leading enterprise" recognized by the Ministry of Science and Technology and the Ministry of Information Industry. It now has the largest capacity of MOCVD equipment in China and has obvious scale advantages. At the same time, in response to the characteristics of the market, Sanan Optoelectronics produces LED chips in different fields and different bands, providing downstream customers with more choices and more cost-effective products to meet different levels of customer needs. Nowadays, with the continuous improvement of its technology and the improvement of its product range, the sales share of domestic and foreign markets is gradually increasing.

Sanan Group and Sanan Electronics are the shareholders of Sanan Optoelectronics. They have good credit status and good anti-risk ability. The future repayment sources mainly include operating income, investment income and other income. They have the ability to repay funds, so they do not exist. The risk of closing a position or being forced to close a position.

Aoyang Shunchang

On August 7, Aoyang Shunchang issued a notice saying that it recently received a notice from the controlling shareholder Aoyang Group Co., Ltd. (hereinafter referred to as “Aoyang Group”), and was informed that some shares of the company held by Aoyang Group were pledged. ,details as follows:

As of the disclosure date, Aoyang Group held 371,738,800 shares of the company, accounting for 32.21% of the company's total share capital. The shares of the company held by Aoyang Group have been pledged by 257.10 million shares, accounting for 26.32% of the company's total share capital.

Dongshan Precision

On August 8, Dongshan Precision announced that the company recently received a notice from the company's controlling shareholder, actual controller Mr. Yuan Yonggang and Mr. Yuan Yongfeng about the pledge of part of the company's shares. The details are as follows:

Dongshan Precision uses the opportunity of listing, realizes the strategic layout of electronic devices and printed circuit board business through investment new establishment and mergers and acquisitions, and establishes and improves the operating system in line with the company's future development goals and industrial requirements, and the management level is continuously improved. At present, Dongshan Precision has become the world's top five manufacturers of flexible circuit boards, one of the well-known suppliers of base station antenna communication equipment components, and LED market share in the market segment of some small pitch segments.

Lehman shares

On August 7, Lehman announced that it had received a letter from Ms. Wang Lishan, the controlling shareholder and the actual controller, and was informed that Ms. Wang Lishan had supplemented the pledge of some of the shares she held in the company. The specific matters are as follows:

In this regard, Ms. Wang Lishan, the controlling shareholder and actual controller of Lehman Co., Ltd. promised to notify the company and disclose relevant information when the risk of liquidation of the pledged shares was released.

Since the equity pledge business in 2013 allowed securities companies to undertake, this business has developed spurt, but the risks behind it are also causing more and more attention in the market. It is worth noting that in the first half of this year, the number of announcements of listed companies' supplementary equity pledges increased significantly. Among them, Lianjian Optoelectronics applied for suspension of trading on June 15 due to the high risk of equity pledge.

Since the beginning of this year, A-shares have been in a downturn. When the stock price falls, the major shareholders who are pledged at a high level will be the first to face risks. They must raise funds or increase margins in a timely manner, and the risk exposure is large. In addition to the stock company's constant exposure to the stock price risk brought by the equity pledge, the brokers that carry out the equity pledge business have more and more legal disputes due to the pledge party's default. .

For the issue of equity pledge risk, well-known economist Song Qinghui said that equity pledge is one of the important financing tools for the major shareholders of listed companies. The scale of financing is generally not too small. In the case of frequent volatility of listed companies' stock prices, major shareholders There will also be risks like leverage, and investors should pay close attention to this.