Shenzhen plans to build LED industry small and micro enterprises mutual assistance **

LED listed companies are over-financing, and small and micro enterprises have difficulty lending. The reporter learned yesterday from the Shenzhen LED Industry Federation that Shenzhen plans to establish a "mini-microenterprise mutual aid fund for the LED industry." Small and micro enterprises can receive loans up to 5 times their deposit funds without mortgage, and the maximum loan amount is 5 million yuan.

LED micro-enterprise loans difficult Shenzhen City Vision Optoelectronics Co., Ltd. recently led to bankruptcy due to the capital chain fracture, vision Guangyuan financial manager admits: The company closed down to a large extent because of the difficulty of SME loans. As a company with over 100 million assets, Vision King once “has been a finalist for the top 5 in the industry for two consecutive years.” But because the loan problem has been forced to lose its way, the loan industry for SMEs in the LED industry is difficult to imagine.

Judging from the data currently available, Zhang Xiaofei, director of the Shenzhen Gaogong LED Industry Research Institute, said in an interview with the Shenzhen Daily News reporter that there are several companies that have arrears, such as Vision. Family.

It is understood that LED small and micro enterprises currently receive working capital through joint guarantees, guarantee companies, or small loan companies, but these loan methods or entry thresholds are too high, or the verification qualifications are too stringent or the interest and risks are too high. To make small and micro enterprises daunting but have to take the risk. During the interview, many LED micro-business owners complained to reporters that the price war in recent years caused the rapid decline of corporate profits. Regardless of the core technology, no matter how the core technology, a penny pinned heroes, capital turnover difficulties have become the small and micro enterprises in the industry The key to life.

On the other hand, the LED industry has become one of the most favored industries for venture capital and private equity investment, and there is even a phenomenon of over-financing. According to relevant department statistics, 10 LED companies that have been listed in the country have raised more than 6 billion yuan, of which over 3 billion yuan has been raised.

The establishment of the "mutual assistance and cooperation fund" model to solve the problem of LED micro-enterprise loans has long been a pressing issue facing the industry. The good news is that the Shenzhen LED Industry Association will soon establish a "LED Industry Mutual Aid Foundation for Small and Micro Enterprises" with the China Minsheng Bank Shenzhen Branch through the "mutual aid cooperation fund" model.

What is the "mutual assistance cooperation fund" model? Cao Yu, Minister of Financial Services Department of Shenzhen LED Industry Federation, said that LED companies with access requirements can pay a certain amount of funds to the fund pool and can apply to Minsheng Bank through the fund manager, Shenzhen LED Industry Federation. Corresponding loan.

The mutual funds will be composed of mutual assistance deposits and risk reserves, of which the mutual guarantee deposit is 20% of the credit amount (conditional withdrawal or transfer), and the risk reserve is 0.5% to 1.0% of the amount of each loan (the duration of the fund does not Refund, but the fund can be withdrawn after dissolution.) The fund manager does not assume the guarantee responsibility. A fund management committee will be set up, and 3 to 5 member companies will be elected as members.

The relevant person in charge of the LED Industry Federation stated that he hopes to overcome the bottleneck of the lack of collaterals and effective guarantees of small and micro enterprises through this new type of lending, improve the current situation of financing difficulties for small and medium-sized enterprises in the LED industry, and integrate business transactions for SMEs. Legal support, asset evaluation and restructuring provide diversified service support.

How can the establishment of a 5-fold loan fund that can be paid for deposits bring benefits to LED small and micro enterprises? The LED Industry Federation stated that the initial number of members of the mutual aid foundation will not be less than 50, and the initial raised funds will not be less than 10 million yuan. After the enterprise deposits the fund, the foundation provides the guarantee, and the company can obtain 5 times the loan from the Minsheng Bank to deposit the fund. "For example, if a company deposits 200,000 yuan, it can get a loan of 1 million yuan. For small and micro enterprises, the space for capital turnover is greatly increased."

The range of loan amount set by Minsheng Bank is 500,000-500 million yuan, and there is no need for mortgage real estate or guarantee company guarantees; the annual interest rate for loans is only about 8.5%, and the annual comprehensive cost is within 10%, which is far lower than other credit financing channels; After liquidation, the fund and risk fund paid can be recovered according to the proportion of investment.

The foundation has limited access to enterprises. The conditions include: Business owners have more than 3 years of experience, and self-employed companies in Shenzhen have been established for more than 2 years. They are members of the Shenzhen LED Industry Association; the company's annual turnover is not low. At RMB 5 million, non-foreign capital background, main business has strong market competitiveness; corporate reputation and credit status are in good condition; borrowing is used for main business; business owner has no bad credit history and bad habits; family relationship is harmonious and stable; The net assets of business owners are not less than RMB 500,000. Shenzhen Securities has a permanent residence or has a permanent residence in Shenzhen. It is willing to join Shenzhen LED Industry Association’s Small and Micro Enterprise Mutual Guarantee Fund and complies with the fund's charter.

Compared with existing loan methods such as micro-credit companies, mutual fund access thresholds are relatively low, risk is relatively low, and limited liability guarantees. Cao Yu said, "Some loans take six months to get the money, but through the operation of the fund, we plan to let small and micro enterprises get loans in two months."

It is understood that the LED industry federation will hold a symposium on "LED Industry Microfinance Mutual Funds" on July 19. At present, about 30 small and micro enterprises have signed up to participate in this forum.

Minsheng Bank stated that the members of the mutual fund must provide three materials, including proof of identity: the borrower and the spouse (if any) valid ID, account book, and marriage certificate. Credit information: The borrower or spouse has bank liquidity and asset certificates in the past half year. Company information: business license, organization code certificate, tax registration certificate, capital verification report, articles of association, loan card; company profile, actual controller of the company/report of the main management personnel; business premises lease contract/property right certificate, nearly 3 months Water, electricity bills and payroll summary bills; 2010, 2011 and nearly 1 month corporate financial statements; 2010, 2011 tax certification and nearly 1 month tax returns; company account statement (reported in the past 6 months The business operations of the company can provide multiple bank accounts; a list of the company’s top 5 customers and top 5 suppliers (company name, duration of cooperation, content/mode of cooperation, amount of cooperation, proportion, settlement method/account period). And provide recent contracts, agreements, orders or value-added tax invoices and other evidence; the company's main fixed assets and machinery and equipment list (high unit price and complete formalities of equipment can provide invoices).

The LED Industry Federation stated that after the debt is repaid, the Mutual Cooperation Fund will be actively cleared according to relevant rules. When the total number of fund members is less than 75% of the initial set number, or 5% of the total amount of credit for small and micro enterprises mutual guarantee deposits is insufficient, and other circumstances such as force majeure and policy control occur, the fund will be passively liquidated.

To guide the transformation and upgrading of small and micro enterprises At present, there are more than 1,800 LED companies of various types in Shenzhen, including more than 1,000 small and micro enterprises. It is understood that most of these companies' products are concentrated in the low-end, and the phenomenon of repeated investment.

Longgang, a business owner engaged in LED production for three years, told reporters on the phone that technology research and development could not be effectively promoted for a short period of time. In addition, the capital turnover was small, and the price war has become the most frustrating move in this industry in recent years. The products that are manufactured will really make consumers worry about quality problems.

After the establishment of the mutual fund, will there be any misdirection of the industry once companies have re-invested their loans for repeated investment and low-end product production? Cao Yu said that the foundation’s access conditions will in fact play a role in selection, allowing small and micro enterprises with vitality, good reputation, and technological advantages to obtain loans and development opportunities. This will ultimately contribute to the healthy development of the LED industry in Shenzhen and improve LED industry transformation and upgrading capabilities.

It is worth noting that mutual funds have no clear rules on the use of loans received by enterprises. Some experts suggest that through the institutional design to more clearly guide the transformation and upgrading of small and micro enterprises, to avoid the repeated development of low-end products, for the future development of the LED industry may be more beneficial.