The end of July is nearing the end, and the mid-year results of listed companies are also being disclosed one after another. The results are good or bad, and the situation is either happy or worried. The author looks at the LED industry that he is relatively familiar with. When the results of the middle school are announced, it is indeed a situation in which "a few happy couples".
Taking several listed companies downstream of LED as an example, according to published data, compared with the profitability of the same period of last year, Lianjian Optoelectronics increased by 190.13%-219.14% (↑), and Abbyson decreased by 45%-35%. ↓), Zhouming Technology increased by 118.20%-134.98% (↑), Qinshang Optoelectronics decreased by 71.85%-51.85% (↓), Liard increased by 20%-50% (↑), Alto Electronics decreased by 100% %-70% (↓), Lehman Optoelectronics increased by 0%-20% (↑), and Changfang Lighting increased by 4.38%-22.81% (↑).
In the middle school entrance examination of this listed company, it is really a few happy ones. From the above data, it can be seen that the performance is indeed increasing or decreasing. The larger growth rate is Lianjian Optoelectronics and Zhouming Technology. The big ones are Alto Electronics and Qinshang Optoelectronics. Then, in the same period, the performance of enterprises in the same field is changing, what is the mystery of this? In the author's opinion, there are mainly the following reasons:
Diversified development strategy, brave to open new growth points
According to the author's understanding, whether it is Lianjian Optoelectronics or Zhouming Technology, compared with many enterprises in the industry, the diversified development strategy has been relatively advanced. For example, Lianjian adheres to the endogenous and extensional development strategy, actively expands its outreach business and crosses the border into the media industry on the basis of maintaining the steady development of its original business. While Zhouming is relatively connected, it seems to be more focused on the LED application field. The extension strategy is more inclined to the deep development of the field. When the LED display business is doing well, start the LED lighting business and turn on the display and lighting. Wheel drive strategy, and intensive work in various market segments of display and lighting, participating in the e-commerce business of Chau Minghan source, the high-end creative screen business of Redio, and the small-pitch display business of Lanpu Technology in the form of holding and acquisition Xiaoming Technology's intelligent lighting business is one of the few "all-round players" in LED applications.
At the same time, from the analysis of the two companies with the largest declines, both Qinshang Optoelectronics and Alto Electronics have problems of over-reliance on a single business. Qinshang Optoelectronics specializes in LED lighting, and LED street lights are the mainstay, while Alto Electronics is mainly engaged in LED display business. Although there are various reasons in the performance announcement, such as the difficulties and expenses of the subsidiaries. The increase in expenditure, etc., but the author believes that this is only a superficial phenomenon. The real reason is that the business model is single and it is difficult to adapt to the increasingly fierce market competition environment. Because the market capacity in the same field is limited during the same period, if there is no overwhelming advantage, It is easy to get into a deadlock without actively seeking new development paths.
Show that the market is mature and stable, the lighting market has great potential and is full of uncertainty
Comparing the two fields of LED display and LED lighting, the LED display market started relatively early, and the market system is relatively mature, which has formed a certain market structure. The market dispute is more of a competition among several giants, especially the old LED display screens. They have been immersed in the market for many years and have now occupied their own place in the market. The new LED display companies have the possibility of floating in the air. For example, Ai Bissen, who flew in the sky last year, just relied on the concept of speculation, and the stock price was almost 100 yuan. This is a drop in the stock price. Of course, this time. The results of the semi-annual report can also be seen.
From the perspective of LED lighting, although it started late, it has developed rapidly. Especially since the launch of the “Comprehensive White Prohibition Policy†in recent years, the popularity of LED lighting has been accelerating, and lighting has been upgraded all over the country. The potential is great, but the overall market structure has not stabilized and there are many uncertainties. Combined with the mid-year performance of this LED listed company, the performance of the display-oriented or display and lighting companies is more prominent. For example, the display and lighting businesses complement each other, and the professional level and overall strength are better. . The single performance supported by the lighting business is not satisfactory. For example, Qinshang Optoelectronics has a large year-on-year decline. Although the rectangular lighting has a certain growth, the growth rate is small.
The old listed companies are not up to the new GEM companies, lacking vitality
Of course, the author throws this view, but only analyzes the above data, and does not adapt to the universality. As far as the LED industry is concerned, due to previous state support and policy subsidies, the early listed companies do have certain advantages, but they have developed to this day. The state has gradually liberalized its policies. It is obviously not feasible to rely solely on the development of national policies. Enterprises must have independent market capabilities in order to better establish a firm foothold.
Judging from the above data, the joint construction and the annual growth of the leading year-to-year performance increase list, although founded, but successfully listed on the GEM in a short period of time, the development momentum is strong; on the other hand, the Alto Electronics and Qin The development history of Shanghai Optoelectronics is longer than that of Lianjian and Zhouming. They were all established in the 1990s and are listed on the A-share market. In theory, they occupy a more favorable congenital advantage, but now they are later overtaken. situation. The reason, the author believes that, relatively speaking, GEM companies are more growth and development vitality, and the so-called veteran listed companies have gradually lost the aura of listing.
In summary, the mid-year answer sheet not only reflects the achievements of the listed companies in the past six months, but also reflects some problems from a deep level. Aside from the surface data, it also confirms the situation of “a few happy couples†in the industry.
The ZOOKE connector brand provides end users with safe and reliable connector application solutions. The ZOOKE 0.8 series connectors have strong adaptability, especially for products with extreme space requirements in terminal products, which can be well adapted for applications.
0.8mm connectors,0.8 wtb,Connectors,ZOOKE connectors
Zooke Connectors Co., Ltd. , https://www.zooke.com