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Inviting capital: don't give up the "bottom line"
After 16 years of business, after three transformations, Zhang Ming, the chairman of Xinli Light Source, not only illuminates his own entrepreneurial road, but also illuminates the road of new ventures to introduce venture capital. The company introduced 4 venture capital institutions including Shanghai Kexing Investment Co., Ltd., Chengdu Innovation Venture Capital Co., Ltd., Chengdu Yingtai Investment Co., Ltd. and Gaoxin Innovation Investment Co., Ltd. through equity transfer and capital increase and share expansion, with a total financing of 31 million yuan. It solves the problem of capital demand in the process of rapid development of the company's business.
"If you want to continue to do large-scale, you have to add the corresponding funds." Tan Liqun, the director of Xinli Light Sources, said that the company is preparing to introduce strategic investors again, but for various reasons, it has not been successful. One of the reasons is that the company has put an end to the philosophy of “having milk is a mother†in the process of introducing strategic investors. That is to say, not to say that you have money, the company will give up the “bottom lineâ€. "This "bottom line" is to be based on industry, to make the main business bigger and stronger, rather than just staring at the listing. People have their own aspirations, from some of the investment institutions we have contacted, including foreign investment institutions, some people Purely for the listing. Because the two sides have a big gap in the investment philosophy, they have to "shelve." Tan Liqun frankly.
However, this did not prevent Xinli Light Source from accelerating the pace of entering the capital market. In order to make the relevant work smoothly, the company has hired GF Securities as the representative of the company's sponsor institution, and Beijing Kangda Law Firm is the legal service organization, Zhongrui Yuehua Accountant. The firm is the company's audit institution.
"As for financing purposes, the key depends on the size of the financing." Tan Liqun said that if you catch up with the "super-raising into normal" era in the past few years, the company can consider other industries related to this, in addition to the large LED industry. . Otherwise, all the funds raised can only be used on the LED project.
Regarding whether or not to list on the New Third Board, Tan Liqun believes that it depends on the specific circumstances at the time: First, whether the Chengdu High-tech Zone has been short-listed for the New Third Board Expansion Pilot Park; the second is to see how its financing function is; Transfer mechanism.
Entrepreneurship: a few "dreams" are not
Today, Xinli Light Source has become a leader in the LED industry. Its chairman Zhang Ming has also become a “star figure†in the LED industry, but behind its dazzling aura has an extraordinary entrepreneurial experience.
In the late 1980s, Zhang Ming returned to Zigong, Sichuan after graduating from Jilin University. He worked for the Agricultural Bank of China Information Department and claimed to be a "professional counterpart". This seems to many people to be a "golden rice bowl", but Zhang Ming does not "stand up and keep himself." After the Spring Festival in 1995, Zhang Ming resigned from the bank, carrying 23,000 yuan, and came to Chengdu alone, and began a difficult entrepreneurial journey.
When I first arrived, my eyes were black. With his computer expertise in college, he started from the IT industry to find the "first bucket of gold." Zhang Ming still clearly remembers that the date of the first registration of the company was March 5, 1995, and the registration was for Dell Computer Southwestern Agency. In 1997, his company has grown to become the largest agent for Dell computers in the Southwest.
However, since the supplier sent a product that should have been represented by Zhang Ming to another agent, Zhang Ming suddenly realized that the agency business was doing a lot, and it was also "making marriage for others". Without core technology and its own brand, companies can only be controlled by people. In the second year, Zhang Ming re-registered a company and launched the banner of Xinli Group to start expanding new business.
Zhang Ming told reporters that he has invested in greening, mining granite and processing tie. But after a year of diversified business, he suddenly found out that although he was more busy than before, he was not as good at making money as a computer business. Due to multiple simultaneous operations, the company was in financial trouble in 2000. After the mind calmed down, Zhang Ming resolutely cut back on love, cut down many projects still making money, and only retained the rare earth business that was not climate at that time.
Target: Domestic LED "leading"
In a number of businesses, why did Zhang Ming retain the rare earth business that was not yet climate? Zhang Ming said that he made such a choice based on the advantages of three aspects of the rare earth business: First, it has a market advantage. Rare earth is the raw material for the production of high-tech products such as electronics, laser and superconducting materials, and the market prospect is bright. Second, it has technological advantages. China's technology in the application of rare earths has reached the international leading level; third is the quality advantage. The rare earth minerals in Sichuan have the characteristics of coarse ore particles and less harmful impurities. "It seems that the choice at the time was correct." Speaking of the brilliant achievements of the main business, Zhang Mingruo Jiazhen: The company successfully won the bid for the Shenzhen Metro Guide Marking System in 2003; successfully completed 21 venue-oriented logo projects for the Beijing Olympic Games in 2008; 2010 The 2,732 LED full-color point light sources and floodlights customized for the Shanghai World Expo will shine for 184 consecutive nights, successfully completing the “Bright Missionâ€.
Since then, the company has embarked on a path of rapid development. The annual income has increased from 20 million yuan in 2003 to 300 million yuan in 2011, especially in the three years from 2009 to 2011, the cumulative growth of the performance was 105.69%. The company has increased by 35.23%. The company has received more than 5 million yuan from the Ministry of Science and Technology, Sichuan Province and Chengdu City. "The company's development goal is to achieve sales revenue of 10 billion yuan in the next 10 years, becoming the largest LED manufacturing enterprise in the country, in which the export revenue of products reaches about 50% of total revenue." Tan Liqun said, 2011 The LED street light series products produced by the company have obtained the CE-RoHS2.0 compliance certificate issued by the authoritative certification body SGS, which is equivalent to obtaining the “entry permit†for LED lighting products in the EU market. A paper certificate will bring tens of millions of euros in revenue to the company every year.
(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.) 
Xinli Light Source: 10 billion yuan in sales revenue in the next 10 years
Sichuan Xinli Light Source has been well-received for its outstanding performance in the field of LED lighting and rare earth luminescent materials. It was selected by Chengdu Hi-tech Zone and Deloitte Certified Public Accountants in the “Deloitte-Chengdu 2012 High-tech, High-growth Top 20 Enterprises†It is famous on the list. The company is about to introduce strategic investors, to become bigger and stronger, and to achieve sales revenue of 10 billion yuan in the next 10 years, becoming the largest LED manufacturing enterprise in China and listed on the GEM.