On October 14, Alto Electronics (002587) announced the progress announcement of the contract with China Xinhua TV. However, it is progress, but it has not changed much since the end of last year. The order for 200 LED displays promised by Xinhua TV has so far only secured a screen. With only one month left in the promise of maturity, the company seems to be unable to guarantee that the order will go smoothly.
Say good 200 screens?
Alto Electronics and Xinhua TV were signed in November last year. China Xinhua TV promised to purchase 200 outdoor LED full-color screens within 12 months, with a unit price of 15,000/m2. At that time, due to the news, Alto Electronics rose 10% against the trend within two weeks. However, 11 months later, the latest announcement shows that only 11.25 million orders were received. In addition to the successful completion of the network control platform worth 1 million, the LED display is only installed.
Judging from the announcement, the installation progress was so slow, mainly because Xinhua TV did not place an order. “The project needs to be coordinated by Xinhua TV to determine the installation location of the display screen,†Kong Dejian, the representative of Alto’s electronic securities affairs, explained to reporters that “there is more coordination in the early stage and the progress may be slower.â€
Are there any orders? Hard to say
As of now, Alto Electronics has only received an advance payment of 3.675 million yuan. According to the company's previous estimate, the total contract value will be 160 million to 220 million yuan, equivalent to 52.5% to 72.1% of the company's total revenue last year, which was interpreted by the market as the future performance guarantee of Alto Electronics. However, how can a promise that can't be fulfilled support performance?
“The impact on performance will not be too great.†Kong Dejian said, “The implementation of follow-up orders is subject to communication between the company’s relevant business leaders and Xinhua TV. For details, please refer to our announcement.â€
Framework protocol does not exist for enforcement
The contract of Alto Electronics is a framework agreement, which means that the other party has only a commitment and there is no enforcement. The company is not sure when the order will come.
In addition, China Xinhua TV announced that it still lost RMB 2013 million in the first quarter, which undoubtedly made the uncertainty of Shenzhen Alto's orders.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
Say good 200 screens?
Alto Electronics and Xinhua TV were signed in November last year. China Xinhua TV promised to purchase 200 outdoor LED full-color screens within 12 months, with a unit price of 15,000/m2. At that time, due to the news, Alto Electronics rose 10% against the trend within two weeks. However, 11 months later, the latest announcement shows that only 11.25 million orders were received. In addition to the successful completion of the network control platform worth 1 million, the LED display is only installed.
Judging from the announcement, the installation progress was so slow, mainly because Xinhua TV did not place an order. “The project needs to be coordinated by Xinhua TV to determine the installation location of the display screen,†Kong Dejian, the representative of Alto’s electronic securities affairs, explained to reporters that “there is more coordination in the early stage and the progress may be slower.â€
Are there any orders? Hard to say
As of now, Alto Electronics has only received an advance payment of 3.675 million yuan. According to the company's previous estimate, the total contract value will be 160 million to 220 million yuan, equivalent to 52.5% to 72.1% of the company's total revenue last year, which was interpreted by the market as the future performance guarantee of Alto Electronics. However, how can a promise that can't be fulfilled support performance?
“The impact on performance will not be too great.†Kong Dejian said, “The implementation of follow-up orders is subject to communication between the company’s relevant business leaders and Xinhua TV. For details, please refer to our announcement.â€
Framework protocol does not exist for enforcement
The contract of Alto Electronics is a framework agreement, which means that the other party has only a commitment and there is no enforcement. The company is not sure when the order will come.
In addition, China Xinhua TV announced that it still lost RMB 2013 million in the first quarter, which undoubtedly made the uncertainty of Shenzhen Alto's orders.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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