Bankruptcy and liquidation! Two more LED lighting-related companies collapsed

As a supporting enterprise in the LED industry chain, Guangdong Tongyuan Precision Circuit Co., Ltd. (hereinafter referred to as "Tongyuan Precision"), which is also in the Pearl River Delta industry chain, has also fallen into a business impasse. Some time ago, the Huizhou Intermediate People's Court officially accepted Tongyuan Precision's bankruptcy liquidation application and appointed Guangdong Zhuming Law Firm as the administrator. This marked that the precision circuit company, which had been operating for 6 years, entered the bankruptcy liquidation process.
Public information shows that Tongyuan Precision Company was established in 2019 with a registered capital of 25.15809 million yuan (paid-in of 14.67809 million yuan). It specializes in the production of high-density interconnect boards, high-multilayer PCBs and flexible circuit boards. It also lays out SMT surface mount technology and CCS new energy components. Its products are widely used in LED LCD screen panels, smartphone boards, 5G communication server boards, as well as energy storage and automotive new energy fields. Since 2021, the company has specially established an LED business department and a NED business department in an attempt to deeply explore overseas markets and new energy automotive electronics tracks.
This company, which had been recognized as a "specialized, new, small and medium-sized enterprise" and completed Series A financing, fell into a complete shutdown at the end of 2025. Until 2025 By the end of December, the company had owed wages to more than 200 employees for more than a year. It had been listed as a person subject to enforcement for breach of trust many times, and the company and its legal representatives had been restricted from high consumption by courts in many places.
Tongyuan Precision’s bankruptcy has long been foreshadowed. Throughout 2025, the company was listed as a defaulter by the Shenzhen Baoan District People's Court four times, and the company had unresolved sales contract disputes with many companies. In November 2025, the Huizhou Housing Provident Fund Management Center even had to deliver the "Verification Notice" to the company through an announcement because "the whereabouts of the unit are unknown and other delivery methods cannot be delivered."
The loss of contact with companies has also triggered labor disputes. According to an announcement issued by the Huizhou Daya Bay Economic and Technological Development Zone Labor and Personnel Dispute Arbitration Committee on June 9, 2025, the committee accepted the labor dispute case Wu Qipeng v. Tongyuan Precision. Because it was unable to contact Tongyuan Precision, and the company failed to participate in arbitration activities as required, it has made a default ruling in accordance with the law. The ruling makes it clear that Tongyuan Precision must pay the applicant 9,632 yuan in salary and living expenses during the vacation, 2,100 yuan in seniority subsidies, and 22,200 yuan in economic compensation for the termination of the labor contract within three days after the ruling takes effect. The total amount is 33,932 yuan.

The difficulties of these two companies are not unique. Many small and medium-sized enterprises fell into "disconnected operations" and eventually either quietly exited the market or waited for the intervention of judicial procedures and became "victims" in the industry reshuffle. The exit of enterprises is a concentrated expression of the downward pressure on the lighting industry. From the perspective of common problems among enterprises, high dependence on foreign trade, weak ability to resist risks, blind expansion, and weak technological innovation are the main causes. This also sounds a wake-up call for the industry. Only by adhering to sound operations, optimizing business structure, and improving core technology competitiveness can we gain a firm foothold in the industry reshuffle.