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http://www.led-international.com/en/home/index.asp

Chinese companies drawing some attention of late. Most interesting of note is that in the £13.7m floatation they only raised £500K.

No financial details in the RNS.

Floated at 10p today the shares opened @ 13p offer, closing @ 15p offer, tho you seem to be able to trade withing the spread quite well. Of the 5m shares created in the float, 4.2m seem to have been traded today which is pretty impressive.

The RNS to the Admission on Day One ish here:

http://www.advfn.com/p.php?pid=nmona&cb=1161712442&article=17350860&symbol=LSE%3ALED


Well worth a read imo.


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Here are the past repoted numbers in the float doc:


...........................16 Months to June 05:........12 Months to June 06
...........................HK$'000............................HK£'000

Turnover..................43,052..............................101,942
Gross Profit..............10,008..............................33,177
Gross pft margin..........23.2%...............................32.5%
Tax......................(168)................................0
Profit before tax.........8,283...............................28,071

No tax payable this year or next.

Exchange rate Oct 24 2006 : 1HK$ = £0.06846. £1 = 14.6HK$

LED International Holdings Limited +1 646 510 0676
Peter Chau, Chief Executive Officer

Offices HK, based Shenzhen, registered UK, CEO based US.

PS: Peter Chau info:
http://www.forbes.com/global/2001/0611/056.html
http://www.engagingchina.com/blog/_archives/2006/10/23/2438471.html

Trend analysis and forecast of LED application in China, 2006-2010
TIME: -- 2006-9-19 --



1. Promotion of Beijing Olympics to the Development of Landscape Illumination Market and Display Panel Market
2. Influence of Handset Market and Technology upon LED Application
3. Increasing Awareness of Environmental Protection Given Impulse to LED Development
4. LED Enters the Market of Medium and Large Sized LCD Backlight
5. Development of the Semiconductor Illumination Market Accelerates


Cheers

swseun

find this interesting one on other thread, not much infromation and details but anyone in it?

swseun

More from other thread for anyone's interest:


The 1st (Forbes) report shows that Peter Chau is a competent fund manager:
"For help in sorting it out, we turned to Peter Chau, one of Asia's few home-grown market veterans. The 43-year-old fund manager is a rare species in Hong Kong's often-turbulent financial world. He's spent more than a decade with one company, CEF Holdings, and its fund management affiliate, TAL CEF Global Asset Management. In his current job as deputy manageing director at TAL CEF, he's part of a team that looks after $1 billion in Asian investments, mostly institutional money.

Chau's experience seems to be paying off. The Greater China mutual funds he manages for TAL CEF are tiny but are among the best performing of their kind. The net asset value of Chau's CIBC PCF Hong Kong Plus Fund (size: about $5 million) has gained 168% in the three years to May versus 25% for its benchmark, the MSCI Hong Kong index; his Talvest Greater China Plus Fund (size: $35 million) has gained 40% versus minus 47% for its benchmark, the MSCI China Free index."

while the 2nd report shows that there could be problems:
"A total of 36 Chinese firms are now on London's AIM market, 18 of which joined this year. The rush of applicants from China and other emerging markets, has led some critics to compare the current boom with the dotcom era, when internet stocks were flavour of the day. And we all know had that story ended.

Simon Littlewood, chief executive of London Asia Capital, the Far East-focussed investment bank, is particularly critical and says some brokers do not understand the risks associated with Chinese businesses. He told The Guardian:

Their ability to monitor the company after it has listed is limited. Take Monstermob and IGM: anybody who knew China would have known that was a risk."

As reported earlier by EngagingChina, AIM-listed Monstermob saw its share price collapse after being caught out by a tightening of the rules governing China's mobile phone services market. Fellow AIMer IGM suffered the same fate.

As we said back then, Monstermob should have seen this danger coming as it is not the first time that China's regulator has changed the rules.

Littlewood says most advisers in the UK have little knowledge of China, and that there are potential problems of corporate governance that are eroding the reputation of AIM."

Cheers

swseun

looking good.

from another:

This was the write up on http://www.allnewissues.com.


"Background - LED International, a manufacturer and distributor of large light emitting diode (LED) screens and lighting is planning to list on AIM on the 23rd of October 2006. The company was founded in February 2004 and it develops and sells large LEDs from a flexible low-cost assembly base in Shenzhen in Southern China. The company aims to become a leading supplier of large block panel LED screens and LED lighting in China and hopes to expand its activities in the overseas markets. It will list 136.9 million shares at 10p per share valuing the company at £13.9 million.

Operations - The company has been profitable since its inception and seems to have various growth opportunities to further exploit. It has recorded an impressive sales growth, reaching £7 million for the year to June 2006 from £2.8 million for the corresponding period of 2005. In 2006, profits before tax reached £1.7 million, up from £0.6 million, equating to earnings per share of 1.25p. The company seems to have very good management, with gross margins of 32.5% and net margins of 27.5% for the year to June 2005. LED prices its products below that of its competitors and has 239 staff working full time or on contract. It must be noted that Strongbase, a major client, has helped LED International at the start up stage by contributing to a total of 31% to group revenues. Strongbase is a private electrical company which is wholly owned by Lee Man Bun who is also a major shareholder (35%) of LED International. Strongbase provided the LED production technology, the software and the know-how to LED International in 2005 for a cost of £0.7 million.

Business Development - The company intends to grow organically but also plans to make suitable acquisitions when the right opportunity arises. It boasts of new contracts for expanding its sales network and will continue to pursue further contracts in the future. It is important to note that the environment that LED International operates in, is very competitive, however, it has expanded its activities significantly. Over the next few years LED International will focus on exporting its products internationally, make suitable acquisitions and of course develop its product applications. The listing on AIM will serve exactly this purpose. Currently, in the US, LED accounts for the 30%-40% of new signage and it is forecasted that by 2010 it will substitute other forms of lighting, thus creating a market valued at tens of billions of dollars. In China alone, the current market for LED screens is 8 billion and it is forecasted to grow to 54 billion in 2008. The growth rate of sales in 2007 is projected to be 55% falling to 42% in 2008. Of course, in 2006, the company grew its revenues by 152%.

Management - The management of the company holds the 38% of the company, Lee Man Bun holds 35% and other investors hold the remaining 27%. CEO Peter Chau has over 20 years of international experience in marketing and entrepreneurial activities. The Chief Technology Officer is Professor Sam Tiam who has a lot of experience and a strong background in this area having run previously his own LED business. The company is also run by Mervyn Cragg who is a UK qualified accountant with extensive experience in large companies.

Conclusion - In the year to June 2006 LED generated earnings per share of 1.25p. With the company being introduced to AIM at 10p, this means the company trades on an historic price earnings ratio of 8. According to brokers, Corporate Synergy, this might fall to 7 in 2007 and 5 in 2008. That looks attractive but we have concerns about China and that must be the big caveat with this stock. We have recommended a few Chinese stocks brought to market by Corporate Synergy and are reluctant to add to that list, but given the historic performance, this might be one to consider."

Cheers
swseun