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The 21st Century Business Herald reporter learned from the sources that Huacan Optoelectronics will suspend the acquisition of Yunnan Lanjing Technology Co., Ltd. (Blue Crystal Technology).
However, Huacan Optoelectronics Securities Department did not respond positively to this. She told the 21st Century Business Herald: "The reason for our suspension is not convenient for the time being. I don't know if I bought Blue Crystal Technology."
Similarly, when the 21st Century Business Herald reporter called Lanjing Technology, the blue crystal technology sales department also said that they did not know: "On my level, I don't know about the acquisition."
The above sources told the 21st Century Business Herald that listed companies are now in the process of internal investigation.
A Shanghai electronic components analyst told the 21st Century Business Herald: "The acquisition is highly probable. Blue Crystal Technology has applied for IPO and is also an LED upstream company. The main product is LED sapphire substrate. At present, China's largest domestic optoelectronic LED semiconductor lighting substrate production and research and development enterprises. In 2012 and 2013, LED bottoming dilemma, mergers and acquisitions in this context, the industry integration trend is obvious."
At the same time, the intensive research of the organization has added a more imaginative footnote to the rapid expansion of Huacan Optoelectronics.
On April 18, Zexi Investment led a total of 11 institutions including Penghua Fund, Changxin Fund, GF Securities and Huadian Group Capital Holdings to Huacan Optoelectronics Research; on April 22, Tianyu Capital and Guojin Asset Management On-site investigations were conducted by 9 institutions including China Merchants Fund; on April 24, 13 institutions including Dingsa Investment, Taikang Assets and Rongtong Fund conducted on-site investigations.
In the 2013 annual report released by Huacan Optoelectronics, its current operating income was 316.2 million, down 4.19% year-on-year; net profit loss was 8.166 million, down 109.87% year-on-year. This is inconsistent with the company's performance report released on February 27 this year, when the company said that the net profit last year was 18.064 million.
Regarding the reasons for the performance adjustment, Huacan Optoelectronics said that it was mainly due to the differences in accounting treatment between the company and the audit institution Daxin Certified Public Accountants.
However, the company stated that its target for 2014 is to achieve a 100%-200% year-on-year increase in operating income, an increase in operating profit of 110%-160%, and a net profit after tax to turn losses into profit.
The acquisition of the company by the market is precisely to reverse the performance.
In the introduction page of Blue Crystal Technology, Blue Crystal Technology is the largest and most advanced LED sapphire substrate manufacturer in China. At the same time, Blue Crystal Technology also hit the GEM IPO in 2010. In September 2010, Blue Crystal Technology began to accept the listing counseling of China International Capital Corporation. In October 2010, it introduced IDG Capital. Just on February 25, 2013, Blue Crystal Technology terminated its review and exited the IPO queue.
According to the latest information from the Yunnan Provincial Administration of Industry and Commerce, the current investors of Lanjing Technology are Wu Kang, Wu Longzhen, Wu Longyu, Liu Qionghua and Yuxi Hengda Space Steel Structure, and there is no IDG capital. Its registered capital is 55 million.
When asked why the IPO was withdrawn, the above-mentioned sales person said: "This is not convenient to disclose, but we are currently producing and operating very well." When asked about the latest business specific data, it did not disclose.
According to 2010 data, Blue Crystal Technology has a production capacity of 3 million pieces per year and sales of 400 million.
The LED trough in 2012 and 2013 was considered by the above-mentioned electronic component analysts to be the reason for the rapid decline of Blue Crystal Technology: “Overcapacity and price competition are the main reasons, and the price of LED chips has dropped by 20%-30%. However, In 2014, LEDs will gradually pick up and enter a two-year to three-year period."
GF Securities' recent research also shows that LED is entering the boom cycle: "We have intensively researched the LED industry chain since Q4 2013, and the capacity utilization rate of upstream chip companies has remained high; some packaging companies in the middle reaches have tighter production capacity, and even some orders have been outsourced; Downstream LED lighting leading companies channel distribution and digestion are exceeding expectations."
This is where the bottom of the soil is coming back. 
Chuanhuacan Optoelectronics purchased Blue Crystal Technology Zexi with the agency to investigate in advance
On April 28, Huacan Optoelectronics did not open without warning. After 11:40 pm, Huacan Optoelectronics announced that it was planning a major event and suspended the game in view of the uncertainty of the matter.