american corporate investors, with help from u.s. treasury, poised to profit from \'green\' light-bulb production in china
There are two large incandescent lamps in the United States next year. S.
The company has positioned itself as making considerable profits from producing greener lighting products ---in China.
One reason for these earnings prospects is America\'s fiscal commitment. S.
The Ministry of Finance of a project managed by the United Nations to ensure the rapid development of China
The development of the lighting industry is a growing success.
Investment banking giant Goldman Sachs and internet giant Cisco (
Through the venture capital fund it owns together)
Important investor in NVC Lighting Holdings Ltd, China\'s largest domestic lighting manufacturerLtd.
A company, originally established in 1998, is now registered in the Cayman Islands.
New investors include several Chinese state-controlled funds.
CITIC, China International Trust and Investment Corporation
And some individual Chinese investors (
Including a representative of China\'s local People\'s Congress)
He also registered the company overseas.
NVC issued shares publicly on the Hong Kong stock exchange on May 2010.
The shares were not issued in the United States. S.
According to the NVC\'s stock prospectus, except through qualified institutional buyers.
Click here to view the prospectus.
Goldman Sachs, through its Asian subsidiary, Cisco, through its investment tool SAIF or SB Asia Investment Fund, has served on the NVC board of directors.
SAIF began acquiring NVC for $22 million in 2006, and Goldman joined for $35 million in 2008.
At the time of the stock issue, SAIF was appointed as the largest single shareholder of NVC, accounting for 36% of the company.
Goldman\'s initial share price fell to 9 at about 11%.
39%, according to the Hong Kong stock prospectus.
Goldman Sachs also served as lead underwriter for the issue.
So SAIF and Goldman Sachs are investing in China\'s most important commercial lighting companies in a timely manner ---
Especially because China\'s lighting industry is currently promoting technology and marketing through millions of dollars,
The dollar plan to ensure that China successfully produces more \"green\" bulbs that will be required by law by US and other Western consumers.
The project is working through a tool called the Global Environment Facility (GEF)
Invest in projects that generate \"significant\" global environmental benefits. The U. S.
The Ministry of Finance is the main funder of the Global Environment Fund, in which case the environmental benefit is to reduce carbon dioxide emissions from China\'s electrical lighting industry-
The same is true for US bans on incandescent lamps. S.
The funds are managed by the United Nations Development Programme in China (UNDP), the U. N.
The flagship counter
Poverty alleviation agencies cooperate with the Communist Party of China government to improve the technical and marketing capabilities of the lighting market and improve the quality and standards of products-
This will also help further consolidate China\'s position as one of the main drivers of the global lighting industry.
It is noted that China has become the \"main production base of energy\"
NVC declared its goal to be \"the world\'s leading player in the lighting products industry, and said in the prospectus,\" overseas markets will be an increasingly important source of our future growth . \"
\"Overseas sales accounted for 20% of its revenue last year;
The target for \"the near future\" is 50% and North America and Europe are the main business targets.
The company also expects China\'s share of the global lighting market to grow to 21% of the $39 billion industry over the next three years. 15.
Industry 5 billion in 2007.
One factor in this growth will be the $84 million Global Environment Fund project, PILESLAMP (Phasing-
Promotion of incandescent lamps and energy-saving lamps).
Click here to view the PILESLAMP project documentation.
PILESLAMP\'s original partners include Chinese subsidiaries of Two Wells
According to the Global Environment Fund, well-known international companies such as Panasonic and Philips.
16 other companies have joined them (
One of them, Yangkun lighting, Zhejiang province, also belongs to Philips)Including NVC.
The main goal of PILESLAMP is not the economy, but the environment: to keep up to 4.
As a result of helping to improve industrial and lighting efficiency in the world\'s most populous countries, 4 million metric tons of carbon dioxide are emitted in the atmosphere.
This concept of global environmental benefits is critical to the mission of the Global Environment Facility, which has spent $9 billion on these topics since its inception in 1991, while encouraging other investors, the government and institutions will invest another $42 billion. The U. S. contributed $1.
During this period, 68 billion euros were paid to the Global Environment Fund.
S. government this yearS.
Provided $90 million in the fund and promised to put $0. 575 billion in 2011-2014 period.
Many projects of the Global Environment Facility involve the conservation and expansion of natural habitats and biologically important protected areas, according to a report from the United StatesS.
Officially, its overall program \"protects the United StatesS.
The environment caused by marine pollution, chemical pollution, climate change, biodiversity destruction and other threats that are increasingly posed outside our borders.
The results of the \"\" project indicate that our investment in the Global Environment Facility has directly contributed to the actions and investments of other countries to reduce their pollution and curb the damage they have caused to our common space, like the atmosphere and the ocean. \"The official said.
\"These projects help to change the behaviour of other countries to support our national interests and to protect us from real and growing threats.
\"But at PILESLAMP, the main means to achieve this environmental goal is to accelerate the technological and commercial development of the lighting industry in China, while improving the marketing and sales capabilities of the industry, improve product quality and international standards.
The lighting project was built on a $26 million pilot project before the Global Environment Fund/UNDP, known as the China Green Light project, which was extended from 2001 to 2005 with roughly the same objectives: improve China\'s lighting products, enhance consumers\' awareness of more efficient lighting, and establish a\"
According to a project website, \"maintain the market in terms of efficient lighting products and services \".
The project is clearly a great success.
Its sponsors claim it saved £ 15.
78 billion kilowatt hours of energy is worth about $0. 986 billion to consumers, and, regardless of the calculation method used, it is kept for 6 hours.
8 million tons of carbon are emitted in the atmosphere.
This has also had a huge impact on China\'s lighting industry: China\'s high output has grown by 46%, according to the Global Environment Fund\'s website
Export growth of 40%--between 2002-2003 alone.
Whether the success of this early project has also inspired SAIF\'s investment in China\'s lighting flagship is unclear.
The issue sent by Fox News to NVC and SAIF managing partner Andrew Yan regarding the company and its relationship with the project was not acknowledged and Andrew Yan was also a member of the NVC board.
When Fox News asked to speak to Goldman Sachs executives involved in NVC, their answer was \"not available \".
\"The questions submitted by email were not answered.
However, the success of the green lighting effort did lead to the emergence of the price light.
The new efficiency increase project entered the planning phase in 2008 and was implemented in 2009.
Plan to end 2012-
A few months after AmericaS.
The incandescent ban came into effect. Those banned U. S.
Of course, the bulbs are imported.
GE closed the last incandescent factory in the United States. S.
And transfer production to China.
PILESLAMP\'s planners also want to get rid of China\'s own inefficient incandescent lamps ---
According to the PILESLAMP project file, by 2022.
The Global Environment Fund itself is an international financing mechanism consisting of 182 member governments, including the United States. S.
And a wide range of international partners.
Among other things, it is the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC), the U. N.
Mechanisms to address carbon dioxide emissions and climate change.
\"As far as the lighting project in China is concerned, its\" implementing partner \"UNDP ---
Those responsible for carrying out and monitoring work on the ground ---
In turn, cooperate with China\'s powerful National Development and Reform Commission (NDRC)
This is led by the top Zhang Ping
Senior Member of the Central Committee of the Communist Party of China.
According to the NDRC website, the NDRC\'s mission is the most important strategic center for guiding China\'s overall economy to \"advance strategic economic restructuring\" and \"organize the formulation of key strategies, plans and policies to address climate change.
\"In terms of the lighting industry in China, the actual cash expenditure of the Global Environment Fund is the lowest seed capital: $14 million.
The government is putting in $27 million and various private manufacturers are also expected to benefit from the plan, which should pay the rest in cash and in kind.
But the goal of small spending is to have a broad impact.
The goals of the Global Environment Fund project include further consolidating China\'s still fragmented lighting market and improving China\'s energy quality.
Save lighting products, increase domestic market and sales, and further increase investment in energy
Efficient Lighting industry through publicity and encouragement to investors.
The reason for this is that what is good for China\'s lighting industry is good for the Earth.
\"China is a major manufacturer of lighting equipment around the world and has enhanced (energy-Saving Lighting)
Production capacity and lower output (
The PILESLAMP project document announced that China will provide environmental benefits worldwide.
In other words, the lighting market in China is worth $33.
According to an industry analysis, 2008 was 7 billion, an increase of more than 8% per year, accounting for nearly half of total output ($16. 2 billion)
China still needs help in terms of exports. -
Including financial assistance-
In a region that is steadily moving forward, strong and growing industrial advantages are maintained from the outside.
In addition, China\'s energy
According to the PILESLAMP file, saving lighting has already provided a large subsidy to consumers-
For exporters, they get subsidies for sending energy
Save lighting for consumers elsewhere.
In the case of domestic subsidies, the document states that they can only produce \"local effects \". \"(
The industrial advantage of China as a whole seems to be strong enough, which has not yet begun.
The country made $31 last month alone.
The trade surplus was 5 billion, up 41% from last month.
In the first half of 2011S.
The trade deficit with China was $133 billion. )
Part of the reason for PILESLAMP, according to the Global Environment Fund project document, is that China\'s huge internal market is still too large, too fragmented and too dependent on the old
Vintage incandescent lamps-
The most populous authoritarian government in the world, if not helped, obviously could not solve the problem quickly enough.
Therefore, the Global Environment Fund plans to accelerate the development of China\'s lighting industry by promoting energy-saving products in \"rural and small cities\" for several years, efficient Lighting manufacturers in China \"have no experience in establishing marketing channels\", as do large and medium-sized cities.
PILESLAMP includes \"supermarket sales staff Workshop\" in these areas to \"raise awareness of consumers \".
It also includes transforming lighting manufacturers into producing new lighting products, cleaning up industrial contaminants, and helping to develop policies to increase energy
Save Market Share of lighting and monitor results.
Beyond that, the Chinese authorities seem to see lighting modernization as a key area of national strategy.
In fact, a Global Environment Fund official said in an interview with Fox News that the Chinese government \"wants to go faster than developed countries \". in energy-
High efficiency lighting products.
They are very competitive in this respect.
They are in a hurry.
\"The relatively small contribution of the Global Environment Fund is more important than it sounds.
In the words of an official of the Global Environment Fund, which is \"catalytic\", he discussed the project in the context of Fox News, encouraging other investors and the Chinese government itself to participate in the project.
According to the Global Environment Facility (GEF) document, most of the funds are spent on such things as \"developing fiscal and fiscal policies and establishing market mechanisms to support (energy-Saving Lighting)
Thus increasing their market share. Or on \"in-
An in-depth analysis of China\'s lighting market, understanding the factors most relevant to China\'s trends, and then preparing a draft policy for the Chinese government to consider implementation.
\"However, in the latest project update, PILESLAMP also reported that it is helping two Chinese manufacturers to switch from incandescent lamps to energy --
Save on lighting manufacturing and will start helping the other three.
Meanwhile, the project reported that \"the Chinese government is supporting a number of other companies through this transition phase.
PILESLAMP is documenting technical and business steps in the transition process and using these materials to train other producers to increase the likelihood of a successful transition to the production of high-quality, efficient alternatives.
\"It also helps to identify criteria for further improving lighting efficiency and helps to provide more advanced lighting for some of China\'s rural poor.
In the same sense, NVC acknowledges that an invisible part of Western companies investing in the company consists of important strategic proposals from its SAIF and Goldman Sachs investors.
As the company said in its stock prospectus, \"We benefit from the strong support of SAIF and GS (Goldman Sachs). . .
Improve the corporate governance structure and formulate the company\'s development strategy.
\"So far, the growth strategy of NVC seems to be going very well.
, The company announced that its revenue grew by more than 50% over the previous year, nearly halfBillion dollars.
Profits grew by more than 455%.
In a press release, the company touted its continued international expansion and said its rapid growth was due to a rebound in the global economy and NVC\'s growing push for energy
Energy-saving lamps and lanterns-
China\'s energy conservation and emission reduction policy.