On April 16, the domestic LED driver power supply manufacturer Shenzhen Kelik Technology Co., Ltd. (hereinafter referred to as "Kelik") issued a major arbitration announcement.
The announcement shows that on April 13, 2018, Like received the notice of arbitration (23530/MK) and the arbitration application documents served by the International Chamber of Commerce of the International Chamber of Commerce (hereinafter referred to as "ICC"). The arbitration was accepted by ICC on April 4, 2018, and the ICC is located in the United States.
Gaogong LED understands that the applicant for this arbitration is Cree, Inc. (hereinafter referred to as "Cree"), located in North Carolina, USA, engaged in the development, manufacture and sale of semiconductor materials and various application equipment, including LED lighting equipment. Since June 2011, Kelly has signed a cooperation agreement with CREE to start a cooperative relationship. According to the agreement signed by the two parties, the company provides Cree with power components for use in LED lighting lamps produced by Cree.
In August 2016, Cree's luminaire products had quality problems. Cree unilaterally terminated the contract in October 2016 on the grounds of the power component process problems provided by the company and stopped paying the purchase price. After repeated negotiations, the two sides did not reach an agreement. During the period, he was able to urge Cree several times for unsuccessful payment. In April 2018, Cree filed an arbitration application with ICC on the grounds that Kelik violated the cooperation agreement signed by the two parties.
According to the arbitration application documents, the applicant requested Lik to compensate for the direct loss, indirect losses and future expected losses, and other expenses of 25 million US dollars, and the company can bear the costs of arbitration such as legal fees. It also requests termination of the agreement with the company and does not pay any amount due to the company under the agreement.
Gaogong LED found that Keke has made provision for bad debts in the 2016 annual report for Cree matters. “Shenzhen Kelik Technology Co., Ltd. Announcement on Provision for Assets Depreciation in 2016†shows that the company intends to make provision for asset impairment, taking into account the adverse impact of the matter on the company’s accounts receivable and inventory. Special provision for bad debts of RMB 11,343,130.07 was made for this customer's accounts receivable.
According to public information, Kelik is mainly engaged in the development, production and sales of magnetic components such as electronic transformers and inductors, as well as switching power supplies such as power adapters, power battery chargers and custom power supplies. Specific products include: power adapters, power battery chargers, LED power supplies, network communication power supplies, industrial and instrumentation power supplies and many other series.
According to its annual report, the total revenue of Kelike in 2017 was 924,140,200 yuan, an increase of 11.26% over the same period of last year, which was mainly due to the increase in sales revenue of some new energy products of magnetic components. In 2017, the operating profit, total profit and net profit attributable to shareholders of the listed company were RMB 54,469,300, RMB 65,472,700 and RMB 57,421,400, respectively, which were 31.47%, 23.81% and 2.50% lower than the same period of the previous year.
Kelik said that the decline in profits was mainly due to the significant increase in exchange losses caused by exchange rate changes during the reporting period and the increase in financial costs. At the same time, rising raw material prices and rising labor costs led to higher costs; in addition, the company’s initial production efficiency in the new energy market was not high. In the report period, the company increased investment in research and development of new products and new technologies, and the investment in the early stage was relatively large.
For the business plan of the power business unit, Li Like said that the power supply will be positioned in the market segment of the supporting service industry and will actively explore the European and American markets. Focus on several sub-areas that are in the ascending or mature period and have greater market capacity and market concentration. By implementing the customized-standardized step-by-step classification, the company realizes the scale effect of the company's power products and is stronger. Competitiveness.
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