Shenzhen LED Manufacturer Announces Bankruptcy
China Business News, 7/05/12
Shenzhen-based LED manufacturer Shenzhen Sinolight Optoelectronics recently declared bankruptcy. The company had at one point had assets in excess of RMB 100 mln and a staff of more than 400 people. The company's financial manager said that to a great extent, the company's bankruptcy was the result of current difficulties in securing SME loans.
Zhang Xiaofei, director of the Gaogong LED Industry Institute, said that Sinolight's bankruptcy was "a sign of things to come." The LED display panel industry has already hit bottom, Zhang said, with industry profit margins of only 5% to 7% rather than the erstwhile 10%. Zhang predicts more bankruptcies as price wars intensify.
There are currently more than 30 LED display panel enterprises in Shenzhen with output values of RMB 100 to 200 mln.
Keywords: Sinolight Optoelectronics Zhang Xiaofei Gaogong LED Industry Institute hardware display LED
Sending
