It is worth mentioning that the author found that the disclosure of the Mingdao light prospectus is incomplete: in the two consecutive sampling tests, Mingdao lighting related products were included in the unqualified list, but in the Mingdao light prospectus, only One of them was disclosed. At the end of June this year, Guangzhou Mingdao Lighting Technology Co., Ltd. (hereinafter referred to as Mingdao Lighting) submitted a prospectus, and for the first time after its establishment four years ago, it launched an impact on the GEM. This fast-growing enterprise product is a bit dazzling. It mainly focuses on performing professional lighting products such as stage lighting and entertainment lighting. It used to be the stage lighting provider of "I am a singer", which is rare in the capital market where lighting companies are clustered. . It is worth mentioning that the author found that the disclosure of the Mingdao light prospectus is incomplete: in the two consecutive sampling tests, Mingdao lighting related products were included in the unqualified list, but in the Mingdao light prospectus, only One of them was disclosed. Yesterday (July 11), the relevant person of the Mingdao Lighting Board Office told the author that one of the undisclosed was because the sampling was not qualified, but the sampling was not fined, so it was not disclosed in the prospectus. In addition, the author also found that after Mingdao Lighting leased office land, the landlord subsequently became a shareholder of the company. In this regard, the aforementioned person explained that because the lessor is optimistic about the company's prospects, it is required to buy shares. The two products were found to be unqualified. According to the Mingdao Lighting Prospectus, the proposed new shares will not exceed 202.320 million shares, accounting for 25.00% of the total issued share capital (the total share capital after the issue does not exceed 80,962,400 shares). The data found that the company established in 2012 was found to be unqualified in both product inspections, but in the prospectus, Mingdao Lighting only disclosed one of them. According to China Quality News Network reported on December 3, 2014, Guangzhou Quality Supervision Bureau conducted a supervised spot check on the quality of lighting sources and lighting products in the production area of ​​Guangzhou. A total of 38 batches of products produced by 35 companies were inspected. There are 11 companies producing 12 batches of products that do not meet the standard requirements. The author noticed that two products, Mingdao Lighting LEDPAR Light and Computer Moving Head Pattern Light, were included in the unqualified list. Among them, the former LED PAR lamp model is GTD-L654P, the production date is May 3, 2014, and the unqualified items are signs, structure, protection against electric shock and harmonic current. The latter computer's moving head pattern light was unqualified due to the pattern. Mingdao Lighting disclosed this in the prospectus, saying that the Quality and Technical Supervision Bureau of Huadu District of Guangzhou City had a (Administrative Punishment Decision) on September 25, 2014 (Suihua) Quality Supervision Penalty No. 0956602, ordered to stop production. Sales of lamps that did not meet the standards, 22 illegally produced LEDPAR lamps (GTDL654P), fined and confiscated illegal income totaling 113,800 yuan. In 2015, the Guangzhou Municipal Quality Supervision Department conducted a supervisory spot check on the quality of the stage lighting products in Guangzhou. According to the announcement, the five batches of products produced by five companies were randomly selected, and three of the three companies did not meet the standards. The author noticed that the model of Mingdao Lighting is GTD-130IIBEAM, and the computer moving head beam lamp with the production date of May 3, 2015 was classified into the list of unqualified products. The unqualified items were the power terminal disturbance voltage; radiation disturbance. However, this sampling test in 2015 did not find a shadow in the prospectus disclosed by Mingdao Lighting. To this end, the reporter contacted the relevant person in charge of the Mingdao Lighting Board Office. The person said that in 2015, the Mingdao lighting related products were classified as unqualified, but the company was not fined, so it was not disclosed in the prospectus because the prospectus was disclosed only with penalties. In 2015, there was no Any punishment is just a rectification, so there is no need to disclose it. The landlord also came to buy shares. Speaking of the bright lights, many people may not be familiar with it, but when it comes to Hunan Satellite TV's "I am a singer" program, I believe most people know. Mingdao Lighting said that from 2013 to 2015, the company has continuously provided stage lighting for "I am a singer". In addition, the company also said that the company's products are widely used in projects with significant influence, such as the opening and closing ceremonies of the 2014 Nanjing Youth Olympic Games, the opening ceremony of the four consecutive China Golden Rooster and Hundred Flowers Film Festival. After four years, Mingdao Lighting intends to land in the capital market. This speed is amazing, and it also attracts the landlord of Mingdao Lighting. The author found in the Mingdao Lighting Prospectus that the company leased two office sites from Guangzhou Bailaishi Shoes Co., Ltd., with a total area of ​​about 13,000 square meters, and a monthly rent of about 240,000 yuan. The lease period is from November 2015. 1st to October 31st, 2021. According to industry and commerce information, one of the legal representatives and shareholders of Mingdao Lighting Landlord Guangzhou Bailai Shi Shoes Co., Ltd. is Zheng Kaixiong. According to the prospectus, Zheng Kaixiong became one of Mingdao Lighting's shareholders in the form of capital increase in December 2015. The number of shares held was 89,000 shares, and the shareholding ratio was 0.15%. We rented his house first, and then he saw that our company was doing a good job, and always told the boss whether it could buy shares. There was just one chance to increase capital and share the stock, so he entered a very small and small point. We are also happy to cooperate in the future. The relevant person in charge of the aforementioned Mingdao Lighting Board Office said. The shareholding of 0.15% is not considered as a related party, and the renting behavior is not considered as a related transaction. Whether or not disclosure is required depends only on whether the transaction amount meets the disclosure standard. Wang Mingbin of Shanghai Minglun Law Firm explained. According to the prospectus, Mingdao Lighting was first established in January 2012. The company's operating income in 2013, 2014 and 2015 was 103 million yuan, 176 million yuan and 283 million yuan respectively. The net profit attributable to the parent company was -32.16 million yuan, 7.13 million yuan and 30.255 million yuan. According to Mingdao Lighting, the proposed new shares will not exceed 202.320 million shares, and the funds will be invested in the following projects in the order of priority: production base project, lighting research project, marketing network construction project, and supplementary liquidity project.
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