Bankruptcy declared! Another LED lighting company in Foshan has collapsed.

On July 28, the People’s Court of Nanhai District, Foshan City, Guangdong Province, issued an official announcement, effectively bringing an end to a Foshan-based LED company’s lifeline:

In accordance with relevant regulations, “this court hereby ruled on July 28 to declare Foshan Guanjin Optoelectronics Technology Co., Ltd. bankrupt and to terminate the bankruptcy proceedings of Foshan Guanjin Optoelectronics Technology Co., Ltd.”

The announcement indicates that on November 7, 2024, the People’s Court of Nanhai District, Foshan City, Guangdong Province, approved the acceptance of the bankruptcy liquidation case for Foshan Guanjin Optoelectronics Technology Co., Ltd. (hereinafter referred to as “Guanjin Optoelectronics”). Following the liquidation process, it was determined that Guanjin Optoelectronics could not repay its maturing debts, and its assets were insufficient to cover all liabilities; moreover, the administrator has completed the distribution of the bankruptcy estate.

It is reported that Guanjin Optoelectronics was founded in 2011, boasting a 15-year history. Its core business encompasses the R&D, manufacturing, and sales of LED lighting fixtures and LED driver power supplies. As a technology-driven enterprise, the company has obtained approximately 70 patents and numerous administrative permits, earning recognition as a National High-Tech Enterprise, a Guangdong Provincial Specialized, Fine, Distinctive, and Innovative Enterprise, and a Guangdong Provincial Intellectual Property Demonstration Enterprise. Its products have been widely deployed in engineering and commercial lighting applications, enjoying a solid industry reputation and a robust customer base in the LED power supply market. The company’s self-developed LED power supplies and intelligent control systems have been successfully implemented in landmark projects such as the Shanghai Yangtze River Tunnel (8.9 km) and the Qingdao Jiaozhou Bay Subsea Tunnel (7.8 km).

Looking back at the company’s operational trajectory, Guanjin Optoelectronics has faced multiple severe business challenges in recent years, culminating in a concentrated outbreak of risks. According to Qichacha and publicly available judicial records, since 2026, the company has repeatedly been listed as a party subject to enforcement, entangled in numerous disputes over sales contracts and loan agreements. Under mounting pressure, its cash flow collapsed entirely, ultimately leading to insolvency.

During the asset disposal phase of bankruptcy, the administrator legally auctioned off Guanjin Optoelectronics’ machinery, semi-finished goods, and other tangible assets, while also packaging and disposing of the company’s key intangible assets, including its patents and its 100% equity stake in Guanjin (Hong Kong) Co., Ltd. Even after the complete sale of all assets, the proceeds still fell short of covering the total arrears of RMB 4.2102 million owed to 97 employees, as well as all of the company’s outstanding debts.

The decline of Guanjin Optoelectronics—from a science-and‑technology‑driven enterprise to a quiet exit through bankruptcy—is far from an isolated case; rather, it reflects the broader reality currently facing the LED lighting industry chain, particularly the power‑supply segment.

The midstream segment of the lighting industry is undergoing profound structural adjustments. Between 2023 and 2026, companies such as Shenzhen Xinguangtai Electronics, Zhongshun Semiconductor, Huizhou Yuanhui Optoelectronics, and Yingrui Optoelectronics have also entered bankruptcy liquidation proceedings.

Furthermore, in 2026, the industry is grappling with multiple structural pressures, including rising compliance costs, shrinking real‑estate procurement volumes, and difficulties in collecting payments from municipal investment projects. In Zhongshan’s ancient town, many small and medium-sized lighting and power‑supply manufacturers have either closed down or opted to suspend production and wait-and-see, driven by high compliance costs associated with the new version of the 3C certification and a sharp drop in end‑user orders. Small and medium-sized enterprises continue to face formidable challenges amid these ongoing difficulties.