In 2017, the overall recovery of the LED industry has injected new hopes into the industry, and the industry activity has been significantly strengthened compared to the past. In the upcoming 2017, the LED industry has undergone major changes: the contest between Chinese companies and international companies has become more frequent; the market dispute between big and small factories has become hot.
At the same time, significant changes have also taken place in the LED supply chain. On the one hand, LED manufacturers continue to extend to the industry upstream and downstream to achieve self-sufficiency; on the other hand, the upstream and downstream enterprises of the LED industry chain through strategic cooperation, strong alliance. In addition, the price of raw materials has risen, and once made the middle and lower reaches of LEDs "sorry."
At the end of 2017, Gaogong LED used seven key words as a clue to review and summarize the changes in the LED industry in 2017 by citing some typical cases in the industry.
Price increase
Since the beginning of this year, the price increase and out of stock of LED upstream raw materials have been pervasive throughout the supply chain, especially the price of PCB sheets remains high. It is understood that due to rising raw material prices, upstream LED companies responded to price increases, while midstream LED companies struggled to maintain stability, but downstream LED lighting, LED display companies are still difficult to digest price increases.
Sanan Optoelectronics started the first shot of the New Year's price increase
In 2017, Sanan Optoelectronics started the first shot of the New Year's price increase. According to the price increase letter, based on the rapid increase in raw material prices, the cost has increased rapidly. Sanan Optoelectronics decided to increase the price of the S-30MB/S-32BB series products by 8% from January 10, 2017.
On the one hand, the price increase of Sanan Optoelectronics is the cost; on the other hand, with the withdrawal of small and medium-sized manufacturers, the LED chip industry is mainly concentrated in the hands of several large manufacturers, and the seller status is stronger.
Mulinsen part of the lighting lamp beads price increased by 15%
In February 2017, the news said that "Mu Linsen's lighting for some lighting lamps will be raised by 15% and will be implemented from now on to reduce the pressure from rising raw material prices." To this end, some media have called the relevant person in charge of Mulinsen to verify the matter. According to the person in charge, the news is true.
In fact, since the beginning of last year, Mulinsen's related products have already had several rounds of price increases. The person in charge said that Mulinsen has always adopted scientific management, and the price increase is only based on the corresponding adjustments made by the market.
PCB board manufacturers set off a crazy price hike
At the beginning of July this year, Shandong Jinbao, Jianye, Mingkang, Weilibang, Jinan Guoji and other companies have issued notices of price increases such as copper foil and copper clad laminates. The price increase is 0.5-2000 yuan per ton of copper foil, and the paperboard is raised. 10 yuan / Zhang, insulated glass fiber ccl up 5 yuan / Zhang, sheet material up 5 yuan / Zhang. At the end of July, Fujian Mulinsen Lighting, Dongcheng Hongye, Morgan Electronics, Haile Electronics and other PCB companies announced the price increase notice of the circuit board, the increase is almost 10%.
The price increase has a strong impact on the downstream application side. The PCB board which is closer to the application end not only has less links to absorb these pressures, but also has a relatively thin profit.
Increase income and increase profits
In 2017, the LED industry as a whole recovered, and the price of LED products remained stable. At the same time, with the continuous improvement of LED penetration rate, the LED market prospects are good. In this context, most LED listed companies have shown a good picture of “increasing revenue and increasing profits†in the first three quarters.
Huacan Optoelectronics' first three quarters revenue was 1.87 billion, net profit was 220 million
In the first three quarters of Huacan Optoelectronics, the operating income was 1.87 billion yuan, a year-on-year increase of 75%. The net profit attributable to the parent company of the listed company was 370 million yuan, a year-on-year increase of 164%. The net profit of the parent company of the listed company in the first three quarters was 2.2. 100 million yuan, an increase of 1243%.
Mulinsen's first three quarters revenue of 5.86 billion, net profit of 440 million
On October 26, Mulinsen released the third quarterly report for 2017. The company's Q3 revenue for 2017 was 2.234 billion yuan, a year-on-year increase of 39.85%, mainly due to the expansion of production and market development; net profit was 134 million yuan, down 17.20% year-on-year. The accumulated revenue for the first three quarters reached 5.86 billion yuan, a year-on-year increase of 59.01%; the accumulated net profit reached 440 million yuan, a year-on-year increase of 40.04%.
Hongli Zhihui's first three quarters revenue of 2.58 billion
On the evening of October 29, Hongli Zhihui released the first three quarters of 2017 performance report. In the first three quarters, Hongli Zhihui's operating income was 2.58 billion yuan, a year-on-year increase of 64%; net profit was nearly 260 million yuan, a year-on-year increase of 34%.
Guoxing Optoelectronics' first three quarter revenues were 2.582 billion
On October 23, Guoxing Optoelectronics released the third quarter 2017 performance report. The report pointed out that in the first three quarters of 2017, the company achieved operating income of 2.582 billion yuan, a year-on-year increase of 54.10%; the net profit attributable to shareholders of listed companies was 258 million, an increase of 97.41%.
Sanxiong Aurora's first three quarters revenue of 1.586 billion
On October 26, Sanxiong Aurora released its third quarter report. According to the announcement, the company's operating income for the first three quarters was 1,586,643,985.04 yuan, an increase of 24.58% year-on-year. The net profit attributable to shareholders of listed companies was 172,192,776.04 yuan, an increase of 17.46% year-on-year.
Moso Power's first three quarters revenue of 1.292 billion
On October 26, Maoshuo Power released the third quarterly report of 2017. The company realized operating income of 1.292 billion yuan from January to September 2017, up 43.2% year-on-year; net profit attributable to shareholders of listed companies was 18.45 million yuan, up 38.79 year-on-year. %.
Expansion and capital increase
In the environment where the market is gradually warming up, LED big coffees are optimistic about the development of the industry, and they have invested heavily in expansion. Expand market share through scale advantages.
Dry photo photoelectric expansion of red and yellow LED chips
Ganzhao Optoelectronics announced on May 8 that the company plans to invest RMB 736,588,100 yuan to implement the expansion of red and yellow LED chips and three-junction gallium arsenide solar cells. The main input equipment is 20 quaternary MOCVD epitaxial furnaces. The corresponding chip production equipment. It is estimated that the annual sales of the expansion project is expected to reach 54,900.46 yuan, and the annual sales income is 469.234 million yuan.
Huacan Optoelectronics invested 1 billion yuan to expand LED substrate project
Huacan Optoelectronics (300323) announced on the evening of August 25 that the company's wholly-owned subsidiary, Lanjing Technology and Yuxi Hongta District Government, signed a framework agreement for the annual expansion of 35 million LED substrate expansion projects. The project is expected to have a total investment of 10%. 100 million yuan.
Blue Crystal Technology plans to expand and expand to meet the increasing demand of the market, and become bigger and stronger. After the project is completed, Blue Crystal Technology is expected to become one of the largest sapphire substrate manufacturers in the world.
Zhaochi shares more than 1.5 billion to build LED epitaxial wafers
On June 30, Zhaochi announced that it has invested no less than RMB 1.5 billion and no more than RMB 1.6 billion to invest in LED epitaxial wafer and chip production projects in Nanchang High-tech Industrial Development Zone. The first phase of the project is scheduled to be installed and commissioned in 2018 and officially put into operation. After the project company is officially put into operation, it is expected that the coordinated development of the company's LED industry chain will add about 60-70 billion yuan to the company's new production value.
Zhaochi Energy-saving Lighting said that this capital increase will be used to add 1000 LED packaging production lines to Jiangxi Zhaochi, to support the LED industry in Nanchang, Jiangxi, and to promote the development of the local LED industry.
Mulinsen sets up a joint venture to expand the American market
On March 21, Mulinsen announced that the company will invest USD 4.9 million to establish GLOBAL VALUE LIGHTING Co., Ltd. with SPV. The new company is named Global Value Lighting LLC. The stake in Mulinsen is 49%, while the SPV is 51%. In addition, in this transaction, Mulinsen will receive a preferred stock of SPV. The future business scope is the promotion, sales and distribution of private label LED lighting products and services to stores and commercial customers in North America and South America.
Listing
Since the beginning of this year, the IPO review speed of the China Securities Regulatory Commission has obviously accelerated. It is basically a batch of enterprise audits passed in a week. In any case, the acceleration of IPO audits is indeed a good news for the majority of LED lighting companies. Those LED lighting companies that have been waiting in line for many years have finally had a hope, instead of "endless waiting."
In 2017, the LED industry including Sanxiong Aurora, Debang Lighting, Overclocking III, Tailong Lighting, Huati Technology, Guangsheng Shares, Jucan Optoelectronics, Chenfeng Technology have listed on the market, and the domestic power supply factory in November Gore first applied for a meeting.
With the acceleration of the listing of LED companies, the development of the LED industry will accelerate with the promotion of capital.
Sanxiong Aurora officially landed on the GEM
On March 17, Sanxing Aurora, an LED lighting company, officially landed on the GEM, and the IPO raised a total of 1.351 billion yuan.
Debon Lighting Shanghai Stock Exchange
On the morning of March 30th, Hengdian Group Debang Lighting Co., Ltd. (hereinafter referred to as “Debon Lightingâ€, stock code: 603303) opened its doors in the Shanghai Stock Exchange, marking the official landing of Debang Lighting in the A-share main board market. State Lighting has developed a new page.
Jucan Optoelectronics is listed on the Shenzhen Stock Exchange
On the morning of October 16, the listing and listing ceremony of Jucan Optoelectronics was held in the listing hall of the Shenzhen Stock Exchange. The burst of bells announced that Jucan Optoelectronics was officially listed on the Shenzhen Stock Exchange.
Jucan Optoelectronics this time publicly issued shares of 64.33 million shares, of which publicly issued new shares of 64.33 million shares, the issue price of 2.82 yuan / share, new shares raised funds of 181 million yuan, the old share transfer funds of 100 million Yuan, the total share capital after the issuance is 257,300,000 shares. The funds raised will be used for LED chip R&D and expansion projects.
Igor Electric's initial application was approved
On November 10th, the LED industry sent good news again. Igo Electric Co., Ltd. (hereinafter referred to as "Igor"), a well-known domestic power supply company, has applied for approval by the China Securities Regulatory Commission and will land on the SME Board of the Shenzhen Stock Exchange.
According to Igor's prospectus (filing draft), Igor plans to issue 33 million shares, and the funds will be used for new energy high-frequency transformer industrial base projects, LED lighting power production projects, Igor R&D center projects, etc. The total amount is about 423 million yuan.
Vertical integration
Compared to traditional lighting, the competition for LED lighting will undoubtedly benefit from the deep integration of the supply chain. In 2017, Gaogong LED found that the LED industry chain has become more and more integrated from the bottom.
Zhaochi shares 1 billion investment in LED epitaxial chip project
On the evening of September 5, Zhaochi issued the “Announcement on Changing the Use of Raised Fundsâ€. The announcement shows that in order to improve the efficiency and efficiency of the use of raised funds, it is proposed to reduce “building, including video, games, medical care, education, e-commerce, etc. The content cloud platform within the company raised funds of 1 billion yuan and invested in the new project "LED epitaxial chip production project".
Zhaochi said that the LED industry is an extension and expansion of the company's existing industrial chain and has gradually become an important business segment. With the expansion of LED packaging and lighting application business, the company's use of LED chips has increased significantly. Chips have become an important factor restricting the further development of the company's packaging and application lighting business. In addition, the industry's concentration has been continuously improved, and the industry chain is gradually showing vertical. The trend of integration. In order to achieve the goal of becoming the world's leading LED enterprise, the company introduced experienced professional team, foreign advanced equipment and manufacturing technology to invest in the design, manufacture and sales of LED epitaxial chips in Nanchang.
Guoxing Optoelectronics takes into account vertical integration of upstream and downstream
Guoxing Optoelectronics "is based on packaging, stronger and bigger, taking into account the vertical integration of upstream and downstream." By investing in National Star Semiconductor and achieving 100% holding, the company further upgraded the upstream LED epitaxial chip link; through the investment holding company RaySent Technology, the silicon substrate high-power LED chip and related proprietary technology, layout LED upstream chip manufacturing.
In the 2017 Hong Kong Autumn Lighting Fair, the main products of Guoxing Optoelectronics Display are commercial lighting. Among them, the panel light is the most consulted and the most intent to achieve cooperation, including dimming palette lights and intelligent control panel lights. , anti-glare panel lights, etc.
Chinese Characteristics
In 2017, international companies have returned to China, Chinese companies continue to go to sea, and the Chinese business cards in the LED industry are becoming more and more vivid.
Mulinsen acquires 100% equity of Landwells
Mulinsen (002745) disclosed the major asset restructuring plan on the evening of March 30, intending to issue shares and pay cash, not to exceed RMB 4 billion to purchase 100% equity of Mingxin Optoelectronics, and the supporting fundraising did not exceed 1.255 billion yuan. The main asset of Mingxin Optoelectronics is 100% of the indirect holding of the target company LEDVANCE. The target company LEDVANCE was established by Osram to divest the general lighting business.
This acquisition will help Mulinsen to expand overseas markets and extend the industry chain to downstream light source and lighting business. Mulinsen can not only increase the main business income by undertaking LEDVANCE packaging business, LEDVANCE's global sales network and marketing team will also have Facilitating the promotion of Mulinsen products and the enhancement of brand influence, the two parties will deeply integrate in terms of customer resources, operations and technology research and development. The listed companies will give full play to the synergy of the combination of “Osram†high-end brand and “Mulinsen†manufacturing cost advantage.
After two years, Feile Audio fully controlled Xi Wannian
Feile Audio announced on the evening of May 16 that the company intends to acquire Feilo Malta Limited held by related party Havells HoldinGS Limited for 34.5 million euros through Inesa UK Limited, a wholly-owned subsidiary of Shanghai Feile Investment Co., Ltd., a wholly-owned subsidiary. Referred to as FML) 20% equity.
The acquisition of the remaining 20% ​​stake in FML will help to improve the competitiveness and brand influence of Feile Audio in the global lighting market, further expand the market share of Feile Audio and effectively improve its operating performance.
GE plans to sell GE lighting business
In June, GE Lighting CEO Bill Lacey sent an internal email to GE Lighting to announce the sale of GE Lighting. In this email, "Everyday, GE officially began discussing with potential buyers to sell GE lighting." In April this year, there were rumors that GE or plans to sell consumer lighting business, the price of the transaction is about 500 million US dollars. .
I have to say that compared with many competitors, this lighting giant from the United States has not been able to perform well in the Chinese lighting market in recent years. Although the brand of “General†has penetrated into every corner, it is in Philips, Osram, etc. Under the strong pressure of the brand, GE's actions appear slow and conservative.
Philips sells 12% stake in Philips Lighting
On November 29th, Philips said it had sold 12% of its shares in Philips Lighting and cashed in 547 million euros. Philips sold approximately 17.1 million shares of Philips Lighting to institutional investors through an accelerated bookbuild offering at a price of 32 euros per share.
Philips said the move was part of its previously announced plans to sell all of Philips Lighting's shares in the next few years. According to Reuters, Philips hopes to eventually sell all of its controlling stakes in Philips Lighting, which was spun off in May 2016, in order to focus on medical devices and other healthcare products.
Shuffle
In recent years, the LED industry's "closed", "closed", "bankruptcy", "arrears of wages", "downgrade performance", "loss" and other news have shaken people's hearts. In 2017, with the overall recovery of the LED industry, the performance of most LED listed companies increased significantly. However, with the expansion of the capacity of LED manufacturers, the industry concentration is getting higher and higher, and some LED companies with weak competitiveness are inevitably “reshuffledâ€.
Diligent shares divested semiconductor lighting business
On the evening of July 25, Qinshang Shares (002638, SZ) announced that the company intends to integrate its existing business and transfer its assets and liabilities related to its semiconductor lighting business to Qinshang Optoelectronics Co., Ltd., a wholly-owned subsidiary. The next is referred to as Qinshang Optoelectronics.
Prior to this, Qinshang shares have made a lot of preparations for the divestiture of LED lighting business. From the previous LED, education dual main business drive mode, to the official proposal to strip LEDs, focus on the education industry, also reflects the current reality of the LED lighting industry.
LED packaging factory Qiqi photoelectric shutdown
At the beginning of August, Taiwan media reported that the LED packaging manufacturer Qihao Optoelectronics had been shut down due to poor management. It is understood that Qihao Optoelectronics was exposed to financial problems in December last year, requiring employees to take unpaid leave, and at the time claimed to renovate and maintain the company's equipment. Unexpectedly, only half a year later, the company ended up with the suspension of business suspension.
Kaisheng shares ceased production
On August 29, according to informed sources, Guangzhou Kaisheng Electronic Technology Co., Ltd. has been suspended from production and business.
According to the report, on August 23, 2017, the sponsors of Kaisheng Shares were informed that the company had stopped production and was closed down on August 23, 2017. It was learned that Kaisheng shares had the following conditions: 1. The company office building and factory buildings were closed, no workers were engaged in production; 2. The company defaulted on the wages of employees, and the labor relations appeared in a state of opposition; 3. The company and suppliers had conflicts, and most suppliers did not Re-supply.
Guangdong Ganhua listed for sale Deli Photoelectric
On September 14, Guangdong Ganhua issued a notice stating that the company will be listed as a 100% equity and related creditor of Deli Optoelectronics, a subsidiary of the LED business, at a price of 687 million yuan. The operation of Deli Optoelectronics since its commissioning in 2014 is not satisfactory. This listing means that Guangdong Ganhua will officially abandon its LED business.
Guangdong Ganhua said that since its establishment and commissioning, Deli Optoelectronics has not been as good as its operating efficiency. As the competition in the LED industry intensifies and the production environment of small and medium-sized manufacturers becomes worse, the operating performance of Deli Optoelectronics has caused a comparison with the company's financial situation. Big burden.
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