Much has been heard about the factory closedowns and the abscondence of their owners in LED display industry as we are about to conclude the year 2012. Some say”Nowadays the market is in recession, if we cannot get paid for our goods by the end of this year, we will be unable to make payments to our employees.”
 
Dongguan Jiahao Photoelectricity Co., Ltd. (hereinafter referred to as “Jiahao” )was closed down by People’s Court of Dongguan for an unsettled debt of RMB 18 million in December. As a matter of fact, Jiahao’s asset was less than RMB 7 million in its full. And Sun Yiyang, president of Jiahao is now nowhere to be found.      
 
Our correspondent learnt from the Administrations of Industry and Commerce in Dongguan and Shenzhen respectively that “Jiahao” was registered in March, 2011, with its predecessor Dongguan Weihao Electronic Materials Co., Ltd. founded in 2003, was a manufacturer in electronic circuit board and electronic materials etc.”It’s a pity that Jiahao was a time-tested business partner and had retained a low profile with a revenue of over RMB 0.1 bn.” said one of the suppliers.