The actual person in charge of Yanghua, Zhan Shixiong, is a Ph.D. student at Taiwan Jiaotong University. He was the proud student of Zhang Junyan, the former president of Taiwan Jiaotong University. At the age of 27, he became the chairman of Advanced Development Optoelectronics. He is a shining LED pioneer. Why is it now a drag-and-drop company? Stock suspects?
In mid-June, the listed company Yanghua Technology was investigated by the Bureau of Investigation and was suspected to have dealt with Yujia, Youwang, Junyi, Jiaying and Baihui in the past three years, beautify the financial statements, and carry out false and false transactions of 1 billion yuan. (The following is not all said to refer to "New Taiwan Dollars"); in addition to false financial reports, successively handle cash capital increase and issue convertible corporate bonds, and raise funds from investment public scams, resulting in company losses totaling more than 2 billion yuan.
The prosecution has launched two waves of talks. In June, Zhan Shixiong, the actual person in charge of Yanghua, was asked to return because of surrender. Lin Jiayi, chairman of Yanghua, paid the insurance for 2 million yuan. Others including Yu Jia’s former director Sun Guozhang were also investigated and interviewed. Up to six companies, and more than a dozen small technology companies have been involved, which has become a major sensation in the Taiwan stock market. The second wave was launched in mid-September. Zhan Shixiong and Lin Jiayi were escorted to the ban and the case was raised. Among them, Zhan Shixiong is an important relationship person of the short-selling company, so that his peers are invincible.
Fraudulent transactions, short-selling companies billions
According to Zhan Shixiong's LED industry for more than ten years, Zhan Shixiong used to be a pioneer in the LED industry. He has a Ph.D. in electronics from Taiwan Jiaotong University. He has innovative research in LED manufacturing. The theme of his doctoral thesis was: "Low-pressure organic metal chemical vapor Phase epitaxy study of selective growth of compound semiconductors, mainly using low pressure organometallic chemical vapor deposition to allow gallium arsenide (GaAs), gallium phosphide (GaP), indium phosphide (InP) and indium phosphide Compounds such as gallium (GaInP) evolved during the epitaxial growth of semiconductors, which is an advanced process for LEDs.
At that time, Zhan Shixiong’s guiding professor was Zhang Junyan, the former president of Jiaotong University; and Zhang Junyan’s National Nano-Lab (NDL), which was established at Jiaotong University, also recruited Zhan Shixiong as an important member of the laboratory. After graduating from Zhan Shixiong, he used the special semiconductor process to establish advanced development optoelectronics in the production of LED. At the age of 27, he became the chairman of the board, and he was also an outstanding figure in the LED industry.
Zhan Shixiong’s father is a principal of a national school in Pingtung, Taiwan. He is a male-female family. He is determined to be a leader. He is most interested in being the chairman of a listed cabinet company. However, Zhan Shixiong is a high-tech technical talent and lacks corporate management skills, especially the price fluctuations of LED products. Big, if the inventory management is not right, it will lose a lot of money.
In the early days of Advanced Optoelectronics, Huang Denghui, deputy general manager (later chairman and general manager of LED listed company Lunda), under the strict management, let the company's overall performance grow and profit is also good, maintaining EPS every year. After the tax, the net profit of 4 to 5 yuan; later, after Huang Denghui left the advanced optoelectronics, the company's inventory management began to have problems, the performance is not as good as the past, although the log has been registered, but because of the decline in performance, want to fight The listing cabinet is still a step away.
In 2007, things changed. Because Hon Hai is optimistic about the LED industry, it is more optimistic about the lighting market in mainland China. Therefore, Pei Xin, a subsidiary of Hon Hai, has invested in advanced power through private placement, hoping that Pei Xin will develop LED street lighting and responsible. Related heat-dissipation technology, the development of LED driver ICs by Tianzhu, the development of LED modules by advanced power, and the common use of LED streetlights in China. At that time, Zhan Shixiong was also retained as general manager. Later, Pei Xin merged with advanced optoelectronics, and the market speculated on the theme of LED streetlights in mainland China. Pei Xin's share price also rose from 80 yuan to 300 yuan. It is reported that Zhan Shixiong in the wave of LED frenzy, clearing his hands and holding hundreds of millions of profits. Yuan, and therefore left the advanced electricity.
Zhan Shixiong, who has always had the dream of the chairman of the listing cabinet, has a large amount of money on hand, so he wants to go to the market with a shell. Through the introduction of the Taichung Construction Company’s gold master, he let Baojia, who originally borrowed the shell from Jinmeike in 2007, The Lin Chenhai family was built and agreed to sell Jinmeikeeng's equity to Yanghua. Therefore, in March 2012, Nitrogen Technology was renamed as Yanghua and entered the LED inspection business.
Join hands with Taichung Gold Master
The industry pointed out that Zhan Shixiong did not seem to be financially responsible. It is reported that he later handed over the finance to Lin Jiayi, general manager of Yanghua. Because Zhan Shixiong was the chairman of Advanced Optoelectronics, he knew Lin Jiayi, who was in the middle of the business, and later Zhan Shixiong left the advanced power. After the creation of Hongxue Technology, Lin Jiayi was appointed as the financial manager, and the financial power of Hongxue Technology was given to Lin Jiayi, which led Lin Jiayi to have the power to manipulate all the company's finances. Lin Jiayi used the trading with other listed companies to beautify the fake transactions of financial statements. The process was dominated by Zhan Shixiong or Lin Jiayi. The outside world is not known, and it is also the case that the current inspection is the first thing to clear.
However, Yanghua announced that it has entered the LED testing business. The industry has long known that it may be fake. The original LED testing leader, Taiwan and the mainland are headed by Jiuyuan. The company’s performance in recent years has been high, and industry insiders are wondering, Yanghua’s performance. How was it created? Last year, when Yanghua’s share price went from 30 yuan to 100 yuan, industry professionals judged that Yanghua would have an accident in the future.
After the backdoor, Yanghua’s financial performance has indeed continued to climb. In 2011, its revenue was only 328 million yuan. In 2012, its revenue grew to 626 million yuan, an annual growth rate of 90%. In 2013, its revenue reached 1.47 billion yuan, and its annual growth exceeded 130%. In addition to strong growth in revenue growth, Yanghua’s profit in the past three years has been outstanding. In 2011, EPS was 0.12 yuan, and in 2012 it was rushed to 1.03 yuan. In 2013, EPS doubled to 2.9 yuan, and last year, EPS reached 4.07 yuan. The combination of profitability and profitability is a small, outstanding stock.
Grab the mainland customers and cover up the big leaks
In May last year, when the stock price of Yanghua broke through 100 yuan, the company also claimed that it was the second largest LED inspection factory in Taiwan. The customers had the second largest LED in the mainland, such as Dehao and Runtai Julong. The output value was almost a long time. The source of the case is much larger than the production scale, so there is no inventory problem; the company hopes to hide the dilemma of the company's inventory along the way by rushing into the important customers of the mainland, and behind it is to cover up the company's fake transactions.
Yiben Technology, which studies the trend of chips, pointed out that the data shows that this wave of investment in Yanghua began to buy a large number of stocks as early as 2012-2013, among which a brokerage point was bought, and a total of 8,872 were bought before and after. The cost is about 24 yuan; by November 2014, the inventory has been sold out, and the estimated profit is 468 million yuan. As for the behind-the-scenes investment master, it is estimated to be related to the company.
Although Yanghua’s revenue and profit have been significantly increased in the past two or three years, the stock price performance in the second half of last year was retrograde with the surface quality report; including the record high revenue, the stock price did not hit a high, and the company’s accounts receivable However, all the way up, plus more than a thousand major shareholders after September last year, the shareholding ratio has been all the way down, if you study the financial report in depth, you can find that before the accident, the major shareholder has long sold most of the stock.
What’s even worse is that when Yanghua’s share price fell, the company continued to announce a number of bullish topics in July last year, including increasing the revenue of cloud mobile security monitoring equipment. The monthly revenue was about 30 million yuan, which is under the umbrella of Chunghwa Telecom. The company has obtained an order for the full-range simultaneous video recording system of the Taipei MRT Expressway. In the future, there will be a large order for cloud monitoring equipment in Thailand, which is estimated to be US$60 million. The company will pack Yanghua into a future cloud equipment, such as the Golden Rooster. The subject matter is actually a vicious poison that defrauds investors.
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