Hundreds of millions of orders are only recovering 24 million in hand
On June 4th, some investors broke the news that Tianlong Optoelectronics had no more than 100 million yuan in Xinjiang. The company immediately suspended trading on the 10th. After the resumption of trading, the company said that it will be in Xinjiang on April 6 and October 13, 2013 respectively. The equipment procurement and supply agreement was signed, and the two order amounts were 58.4 million yuan and 75 million yuan respectively. For the failure to disclose the order in time, the company explained it on the grounds that the “two-time signing†did not meet the letter.
Although Tianlong Optoelectronics admitted that there are billions of orders in Xinjiang, investors are not happy. Tianlong Optoelectronics' purchase orders for two equipments in Xinjiang totaled 133 million. However, only $24 million was recovered for the goods, and the "cups" were that the partners had stopped production.
“The market in Xinjiang is not good,†Dongsong Lu Song explained to reporters. “In fact, this business is mainly to revitalize the inventory, because this is not a new order or need to be re-doed, it is inventory.†There are still 110 million yuan of goods that have not been recovered. Lu Song is also unsure. "I can't get back and say that I can't get back. I also reminded that this risk is very big. If you can't get it back, you can only get bad debts."
Low bargaining power is too loose
There is a large gap in accounts receivable. Some investors directly refer to the company's signed payment agreement too loose: after the arrival of the goods, the purchaser will pay 10% of the total contract amount, and after the acceptance is completed, 10% of the total amount of the contract will be paid. 80% will be paid within 180 days after installation and commissioning and acceptance.
"The performance of Tianlong Optoelectronics was not very good, so it caused it to be not particularly strong in bargaining power. The collection period of accounts receivable was relatively long, and it was not fully recovered. This is quite risky." Dongguan Securities [microblogging] power The equipment industry researcher analyzed this, he believes that the governance of Tianlong Optoelectronics is not clear, resulting in the company still losing money when the industry recovered in 2013.
As of the end of the first quarter, Tianlong Optoelectronics accounts for 188 million accounts, inventory of 352 million, while the company's revenue last year was only 221 million yuan, net profit loss of 130 million yuan, 2012 net profit loss of 510 million. If the payment of more than 100 million yuan cannot be recovered, it will undoubtedly make the company worse.
1 billion yuan cooperation is only for sapphire? Secretary secretly said that "there is nothing wrong"
Together with the Xinjiang order clarification, there is also a 1 billion yuan cooperation project signed by the company in Meixian, Guangdong. It is reported that Meixian Industrial Park is a famous sapphire production base in China, and Meixian Saiyu Sapphire Technology Co., Ltd. has cooperated with Tianlong Optoelectronics. Some investors have speculated that Tianlong Optoelectronics cooperated with the sapphire industry.
However, Dongsong Lusong denied this speculation: "I don't know what sapphire, the chairman is accompanying our potential customers, specifically because they talk about this cooperation, of course, this cooperation can not be done."
Lu Song said that if there are orders involving hundreds of millions of yuan, it needs to be reviewed by the board of directors. There is currently no news.
Our Fiber Optic Splice Trays are made of ABS, light in weight and is RoHS compliant. It mainly is used for optical fiber storage and fiber optic fusion protection, easy to operate and simple to install and uninstall. The Fiber Splice Trays are stackable and can be mounted using two #6 screws; they can be used one on top of another to form a layer structure inside the fiber optic enclosures.
Usually fiber optic splice trays are used inside the Fiber Enclosures, optical fiber glass inside the fiber tray can be melt with any other strand optical fiber in the tray, thus different fiber optic cables can be melt connected directly via the tray, optical cable fiber can also be melted with the fiber optic pigtail end, and via pigtail it can connect out to other fiber optic equipment. The tray expands fiber splice capabilities as well as provides the splicing location for the fiber optic cables. we have ready stock of this series products for immediate shipment.
FO Splicing Cassette, Fiber Optic Splicing Trays, Optical Trays, Cassette for FO Splicing 12 core, Cassette for FO Splicing 24 core
NINGBO YULIANG TELECOM MUNICATIONS EQUIPMENT CO.,LTD. , https://www.yltelecom.com