“Last year, we met a good project and planned to invest 30 million to 40 million. Later, when we conducted due diligence, the company’s management did not want us to visit their key downstream customers.†Junsheng Investment Partner Huang Yu told reporters that "the investment committee decided to abandon the investment after exchange of opinions, even if we were in the first round. Later, several PEs in Shenzhen voted for the project. We are risk-averse and can be said to be very conservative."
Conservative Junsheng, like many small and medium-sized PE institutions, wants to make quality and steady investment. However, in the process of burying the hard work, there are also many impulses and temptations to expand. Especially in the temptation of investing in PE for insurance capital, it is particularly urgent to introduce more institutions LP to enhance their competitiveness.
"We basically touched the situation in the middle and lower reaches of the LED." Because of the long-term observation of the LED industry, Huang Yu has a keen understanding of the industry. "Although we only invested in a few LED projects, we basically touched the situation in the middle and lower reaches of the LED."
At present, Junsheng Investment has invested in two LED projects, namely Zhuzhou Jiabang Refractory Metal Co., Ltd. and Harbin Orient Optoelectronic Technology Co., Ltd., each with an investment of about 20 million yuan. The former is a rookie of tungsten and molybdenum consumables for LED sapphire, and the latter is one of the best sapphire crystal materials manufacturers in China.
When attending an LED forum, friends in the industry introduced Orient to Junsheng, and when they made the best adjustments to the upstream and downstream of Orient, and under the introduction of the CEO of Ored, Huang Yu discovered and voted Zhuzhou Jiabang.
"These two projects are our tentative investments in the LED industry, so the amount is not too big. At present, some projects are still under observation." Huang Yu told reporters, "We hope to pay attention to the industry for a long time. More deeper understanding and discover some better projects."
The reporter learned that in addition to the above two projects, Junsheng Investment will also invest in a new LED project, and is currently waiting for the company to "red-chip", the proposed investment amount is about 30 million yuan.
"We have had a lot of internal debates on LED projects, especially for the prospects of the industry and the quality of the company. However, the overall situation is optimistic about the future development of the LED lighting industry." Huang Yu said, "The LED industry must be a big industry, This is the fourth human lighting revolution. If LEDs can replace energy-saving lamps in the future, the spring of LED lighting will come."
In addition to LED, Huang Yu also focuses on new energy and medical fields.
The understanding of new energy batteries stems from Huang Yu’s past experience. During the Shenzhen Tianhua Venture Capital, Huang Yu’s team once invested in Shenzhen Tianjiao Technology and served as deputy general manager and chief financial officer.
“Tianjiao is an early VC project. We are the controlling shareholder, accounting for 60%. Therefore, I basically participated in the operation and management of the entire company.†Later, Shenzhen Tianjiao was acquired by China Baoan, and the return was about 3 times.
Huang Yu's conservatism can be said to go deep into the bones. "I am very familiar with the upstream and downstream of new energy batteries, but because I understand this industry, I am even more afraid to invest." Huang Yu said, "The timing of investing in new energy batteries has not yet arrived."
For the medical field, Huang Yu said that he is still waiting. "Several projects are in preparation, I hope I can see more clearly and be more stable."
"The expert's veto opinion often has the effect of a one-vote veto.
In the general PE decision-making body, each member of the investment committee has one voting right, and each project will vote at least three times from the selected target to the formal determination of the investment. Items with more than 2/3 of the votes will pass.
In the decision of the investment committee, Junsheng Investment currently introduces a fifth seat and gives an independent third party a voting right.
“The composition of independent third parties is usually members of the association, experts and scholars, as well as industry professionals who are very experienced in specific industries.†Huang Yu told reporters that “the introduction of independent third parties is to listen to a wider range of opinions and hope to be more scientific. decision making."
"We did not give the experts a veto, but if we advised not to invest in the company in the process of asking for advice, then we will have an in-depth discussion of the experts' recommendations." Huang Yu said, "The expert's veto Opinions often have the effect of a one-vote veto."
(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 the new industry. The readers need to verify the relevant content themselves.)
Conservative Junsheng, like many small and medium-sized PE institutions, wants to make quality and steady investment. However, in the process of burying the hard work, there are also many impulses and temptations to expand. Especially in the temptation of investing in PE for insurance capital, it is particularly urgent to introduce more institutions LP to enhance their competitiveness.
"We basically touched the situation in the middle and lower reaches of the LED." Because of the long-term observation of the LED industry, Huang Yu has a keen understanding of the industry. "Although we only invested in a few LED projects, we basically touched the situation in the middle and lower reaches of the LED."
At present, Junsheng Investment has invested in two LED projects, namely Zhuzhou Jiabang Refractory Metal Co., Ltd. and Harbin Orient Optoelectronic Technology Co., Ltd., each with an investment of about 20 million yuan. The former is a rookie of tungsten and molybdenum consumables for LED sapphire, and the latter is one of the best sapphire crystal materials manufacturers in China.
When attending an LED forum, friends in the industry introduced Orient to Junsheng, and when they made the best adjustments to the upstream and downstream of Orient, and under the introduction of the CEO of Ored, Huang Yu discovered and voted Zhuzhou Jiabang.
"These two projects are our tentative investments in the LED industry, so the amount is not too big. At present, some projects are still under observation." Huang Yu told reporters, "We hope to pay attention to the industry for a long time. More deeper understanding and discover some better projects."
The reporter learned that in addition to the above two projects, Junsheng Investment will also invest in a new LED project, and is currently waiting for the company to "red-chip", the proposed investment amount is about 30 million yuan.
"We have had a lot of internal debates on LED projects, especially for the prospects of the industry and the quality of the company. However, the overall situation is optimistic about the future development of the LED lighting industry." Huang Yu said, "The LED industry must be a big industry, This is the fourth human lighting revolution. If LEDs can replace energy-saving lamps in the future, the spring of LED lighting will come."
In addition to LED, Huang Yu also focuses on new energy and medical fields.
The understanding of new energy batteries stems from Huang Yu’s past experience. During the Shenzhen Tianhua Venture Capital, Huang Yu’s team once invested in Shenzhen Tianjiao Technology and served as deputy general manager and chief financial officer.
“Tianjiao is an early VC project. We are the controlling shareholder, accounting for 60%. Therefore, I basically participated in the operation and management of the entire company.†Later, Shenzhen Tianjiao was acquired by China Baoan, and the return was about 3 times.
Huang Yu's conservatism can be said to go deep into the bones. "I am very familiar with the upstream and downstream of new energy batteries, but because I understand this industry, I am even more afraid to invest." Huang Yu said, "The timing of investing in new energy batteries has not yet arrived."
For the medical field, Huang Yu said that he is still waiting. "Several projects are in preparation, I hope I can see more clearly and be more stable."
"The expert's veto opinion often has the effect of a one-vote veto.
In the general PE decision-making body, each member of the investment committee has one voting right, and each project will vote at least three times from the selected target to the formal determination of the investment. Items with more than 2/3 of the votes will pass.
In the decision of the investment committee, Junsheng Investment currently introduces a fifth seat and gives an independent third party a voting right.
“The composition of independent third parties is usually members of the association, experts and scholars, as well as industry professionals who are very experienced in specific industries.†Huang Yu told reporters that “the introduction of independent third parties is to listen to a wider range of opinions and hope to be more scientific. decision making."
"We did not give the experts a veto, but if we advised not to invest in the company in the process of asking for advice, then we will have an in-depth discussion of the experts' recommendations." Huang Yu said, "The expert's veto Opinions often have the effect of a one-vote veto."
(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 the new industry. The readers need to verify the relevant content themselves.)
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