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Opal Lighting started in 1996. It is a comprehensive lighting enterprise integrating research, production, and sales of home lighting, electrical appliances, kitchen and bathroom ceilings, and commercial lighting. Home lighting business sales are one of the company's main sources of income. As of December 31, 2014, the company's domestic channel sales outlets exceeded 38,000. The main competitors include Philips, NVC Lighting, Foshan Lighting, and OSRAM.
Investors should carefully consider the following risk factors in addition to the other information provided in this prospectus when evaluating the shares issued by the company. The following risk factors are ranked according to the importance principle or the extent to which investment decisions may be affected.
Industrial upgrading risk Since 2013, LED lighting products have made rapid progress in technology and cost reduction. The speed of replacing traditional lighting products has begun to accelerate. The lighting industry has entered a new round of industrial upgrading cycle, facing greater development opportunities, but also Bringing corresponding challenges to lighting companies including Op Lighting, as follows:
1. Speed ​​of technological innovation As an emerging industry, LED lighting technology is evolving faster than traditional lighting technology, especially in the application-side innovation, and the new product launch cycle is greatly shortened. At present, lighting companies have increased their R&D investment to launch more attractive products to seize the market. If the company cannot maintain its technological innovation capability and lags behind the same industry in product development, it may face the risk of falling sales and market share.
2. The market still needs to further standardize. At present, the LED lighting industry is still in the early stage of development. There are a series of problems such as unclear industry quality standards, incomplete detection system, numerous participating manufacturers but irregular product specifications, and disorderly market competition. Many small Lighting companies seize the market with low-cost and low-quality strategies, while consumers do not have the professional ability to identify products. If these problems cannot be solved, it will not be conducive to the healthy development of the LED industry, and will also have an impact on large-scale brand lighting companies such as Op Lighting.
3. Difficulties in production management are emerging as emerging industries. LED lighting technology is still in the process of groping, and will continue to change in materials, production processes and products, thus bringing corresponding challenges to the company's production management. There is a risk of mismatch between production and stocking, technological advancement, and market demand, resulting in unfavorable situations such as a decline in sales share and an increase in the risk of inventory impairment. 
Opal Lighting Prospectus discloses investment risk at a glance
The China Securities Regulatory Commission announced the latest IPO pre-disclosure list, in which Op Lighting Co., Ltd. intends to list on the Shanghai Stock Exchange. The issue will not exceed 58 million shares, no less than 10% of the total issued share capital, and the total share capital after the issue will not exceed 579 million shares. The lead underwriter is CITIC Securities Co., Ltd.