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According to the person in charge of a supplier of Yongxing Electronics, Yongxing Electronics currently defaults on the supplier's payment of about 8 million yuan. In addition, Yongxing Electronics still owes loans to three banks, including 10 million yuan by Industrial Bank, 1.5 million yuan by Guangfa Bank and 12 million yuan by China Merchants Bank. The arrears of China Merchants Bank have been repaid by the guarantee company and converted into usury. At the same time, Yongxing Electronics also has five non-government loan sharks of RMB 3.7 million, RMB 1 million, RMB 250,000, RMB 350,000 and RMB 700,000 borrowed from friends.
The reporter learned from the website of Dongguan Administration for Industry and Commerce that Yongxing Electronics was established on December 3, 2007 with a registered capital of 10 million yuan and a legal representative is Lu Meilian. The website shows that its final annual inspection year is 2012. The business scope covers the design, development and electronic lighting products of electronic products. The reporter inquired that the company's website could not be opened normally, and Lu Meilian's phone number was already empty. The contact information of the company's front desk and the salesman's contact information published on the Internet were also empty.
When Yongxing Electronics was founded, it mainly produced LED package brackets, mainly based on straight-in brackets, and positioned the low-end market. At the beginning of 2008, the transformation of lighting began, mainly producing street lamps. The above-mentioned reporter said that the products of Yongxing Electronics are still in the same shape, and they still receive payment from EMC Corporation on a regular basis.
"The profit of the bracket is now getting lower and lower, whether it is the brand's bracket manufacturer or the manufacturer that sells the nozzle material." The sales person in charge of a bracket factory in Guangzhou told the reporter that the net profit of the domestic market bracket is already at 10%. Following, everyone is at a loss, many small factories have been unable to hold back, and Yongxing Electronics did the low-end market.
As one of the accessories of the package, the bracket relies more on equipment processing and incoming materials. Many packaging factories have completely self-supplied, such as Mulinsen and Changfang Lighting. In the face of declining gross profit and the seemingly bright future of lighting, many companies have ventured into transformation.
As a typical representative of small and medium-scale transformation of downstream lighting, Yongxing Electronics is facing the “red sea market†with intense price competition.
The above-mentioned reporters revealed that this time Yi Xing is definitely a vicious arrears. A year ago, Yi Xingshang began to run the US market and announced that he would negotiate the plant growth lamp business. Then the family of four began to apply for immigration procedures.
This year, Yi Xingshang got a total of 4.16 million yuan in Chengdu on August 26, and immediately transferred 3.5 million of them to HSBC Bank in Hong Kong. On August 27 and 28, they departed by plane, September 1. The day is in Hong Kong. On September 5, Lumei Lian also flew to Hong Kong by plane and then flew to Los Angeles. Before leaving, Lu Meilian also borrowed from five sisters, that is, 700,000 yuan in private loans, and then lost contact.
Yongxing Electronics' employees have not received salary for more than one year, but 95% of the entire company is a relative of Yixingshang couple, and only half of the executives are external staff. After the procedure was announced, the Labor Bureau has now entered the settlement of the problem of wage arrears because the two sides did not reach an agreement on the 50% salary paid by the Labor Bureau, so the court could not seal it, but it has been controlled by the police.
According to the above-mentioned reporter, even if Yongxing Electronics sells all its assets at only 25 million yuan, the company's total liabilities have reached 30 to 40 million yuan.
He said that at present, Yongxing Electronics' company's book has always been cashed in, but Yixing still uses the supplier's payment to help him obtain the US green card. He hopes that the suppliers will keep their eyes open.
Gaogong LED will also continue to track the latest developments in the event. 
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[High- tech LED reporter Ding Hui] Recently, some people in the industry broke the news to Gaogong LED. Dongguan Yongxing Electronic Technology Co., Ltd. (hereinafter referred to as “Yongxing Electronicsâ€), which is still working before the Mid-Autumn Festival, has now been controlled by the police. The bureau and lawyers have stepped in and determined that the company’s boss, Yi Xingshang, and his wife, Lu Meilian, have already run.