[Source: "High-tech LED - Research and Review" September issue Tang Guirong finishing]
Red warnings in emerging industry sectors are frequently ringing, and LEDs are no exception. However, for Tiantong, the battle for the LED industry has just begun.
In mid-October, Tiantong Co., Ltd. released the third quarter performance report. It is estimated that the company's net profit attributable to shareholders of listed companies from January to September 2012 will be a loss of about 79 million yuan. The financial report shows that the price and sales volume of magnetic materials have declined in the company's four business segments; LED sapphire is still in the construction stage and has not been sold; the photovoltaic market is sluggish; and the equipment business has experienced a significant decline.
Prior to this, Tiantong shares continued to increase the scale of LED investment.
In March of this year, Tiantong Jicheng, a subsidiary of Tiantong Co., and the Institute of Applied Technology of Zhejiang Academy of Sciences jointly set up a laboratory to develop key LED upstream equipment for the actual needs of LED production at home and abroad.
In September, Tiantong Co., Ltd. announced that it will raise 309 million yuan to build nearly half of the 1.45 million 4-inch LED sapphire substrate material technology transformation project and supplementary liquidity. The issue of this non-public offering is the company's second largest shareholder Tiantong Gaoxin Group Co., Ltd. and Ms. Du Haili.
It can be seen from the financial report of Tiantong Co., Ltd. that its own funds are not in a state of tension, but the major shareholders of the company increase their shareholding in this way. First, they indicate that the major shareholders are stronger and stronger in the LED industry. The determination and confidence, the second is to show the confidence and determination of the major shareholders in the future development of the company, and the third is to increase the company's financial strength through the increase of the majority shareholder, which provides sufficient energy and power for the company's subsequent development.
"If Chinese companies want to have a voice in the international arena, they must be able to manufacture their own better products in terms of equipment and materials." Pan Jianqing said that this year he hopes to promote the LED industry chain through upstream core materials and equipment to form a core. Competitiveness.
Electronic materials and high-end equipment are the two traditional core businesses of Tiantong, which are now used in the LED industry. The materials currently used in the LED field are mainly sapphire substrates and driving power magnetic materials, and the equipment is mainly the key equipment of LED upstream.
Although this year's materials and equipment did not produce much economic performance, this does not affect the confidence of Tiantong's chairman Pan Jianqing in the layout of the LED industry.
As an emerging industry, LED has always been a fertile ground for brands to create. However, in the current LED market, there is no strong domestic brand. According to Pan Jianqing's idea, Tiantong hopes to open up the LED industry chain and form a dominant brand through the advantages of traditional business.
Core materials and equipment
Zhang Xiaofei: Tiantong has been developing for more than 20 years. The batch of material enterprises established in the same period has risen and has riches. However, in 2011, Tiantong's sales amounted to 1.36 billion yuan. Do you think the company missed many opportunities? Because when you went public in 2001, there were more than one billion plates.
Pan Jianqing: In the 30 years of Hedong in the 30 years of Hedong, I have also thought about this problem. We have both losses and losses. Companies that made electronic materials (magnetic materials) in the early days were very hard. Because you don't have this market space, you can't jump out of this circle, so it's basically based on exports. At that time, China did not have market demand, which restricted the development of the upstream high-end new electronic materials industry.
But now China's demand has changed, and the domestic demand market has gradually expanded. There have been many foreign-invested companies entering China in the past few years, but there are few companies investing in high-end equipment and core new materials. This shows that foreign companies are firmly in the hands of these products and technologies. Before, we spent a lot of energy in these areas. Although the direct benefits of the harvest are relatively small, our space will only grow larger in the future.
Therefore, in the 30 years of Hedong, 30 years of Hexi, do not doubt the industry, and insist on the industry. Now all the layouts of Tiantong are for the '12th Five-Year' and '13th Five-Year Plan.
Zhang Xiaofei : Tiantong is known as the "King of Soft Magnetics". Previously, the main business was electronic materials (magnetic materials). Why would you consider the main focus of LED sapphire crystal materials?
Pan Jianqing: Now we have two main businesses: electronic functional materials and special high-end equipment. We have long-term electronic (magnetic) materials, management experience, coupled with magnetic materials and LED sapphire crystal materials have a certain degree of industrial relevance, the span is not very large, the two are complementary, for our material manufacturers, professional Advantages.
In the LED field, we are primarily targeting upstream materials and downstream applications. At present, there are two cores in the LED field, light source and power supply. The light source is mainly epitaxial, chip, sapphire substrate material is needed, and the power source needs to use magnetic material. These two electronic materials are precisely the focus of our strategic development plan. We are already leading the industry in magnetic materials, and the sapphire substrate materials must be the top three in China.
Zhang Xiaofei: LED is not what everyone wants to do. First of all, we must stand in the LED industry technology supply perspective and have a deeper understanding of the entire supply process. Crystal substrate materials, what are the conditions for you to do in the top three in China?
Pan Jianqing: In the field of electronic materials special equipment, we are currently developing jointly with foreign countries, and basically have strong R&D and manufacturing capabilities. In the field of LEDs, especially in the field of crystalline materials, almost all of our equipment is being developed, so we have the ability to produce at low cost. At the same time, through the improvement of equipment technology, the technical quality of products is promoted.
The LED industry is not something that ordinary people can do and do well. The LED industry chain is very long. The technical characteristics and capital characteristics of each field in each chain vary greatly. From upstream to midstream to downstream, the industry enters the threshold. Gradually lower. The upstream substrate material and epitaxial wafer have typical "double high" (high technology, high capital) characteristics. The midstream chip has high technology content and relatively dense capital. The downstream package has lower technical content and capital investment, and the application product is lower. The technical content and capital investment are the lowest. At present, the upstream key materials, equipment, and core technologies are basically monopolized by foreign manufacturers, and the entry threshold is relatively high, so it can be done not only with funds.
In these two fields, Tiantong can support each other's industrial development. Materials can drive the equipment, and the equipment can make the material better. But after making the materials, the most important thing is to have a release port to apply. Now we put this application port first in the LED industry. After several years of exploration and cooperation with foreign parties, Tiantong has mastered a certain core technology of crystal production, coupled with the support of special equipment industry and the advantages of low-cost production, so it has certain advantages to develop LED industry. .
Red warnings in emerging industry sectors are frequently ringing, and LEDs are no exception. However, for Tiantong, the battle for the LED industry has just begun.
In mid-October, Tiantong Co., Ltd. released the third quarter performance report. It is estimated that the company's net profit attributable to shareholders of listed companies from January to September 2012 will be a loss of about 79 million yuan. The financial report shows that the price and sales volume of magnetic materials have declined in the company's four business segments; LED sapphire is still in the construction stage and has not been sold; the photovoltaic market is sluggish; and the equipment business has experienced a significant decline.
Prior to this, Tiantong shares continued to increase the scale of LED investment.
In March of this year, Tiantong Jicheng, a subsidiary of Tiantong Co., and the Institute of Applied Technology of Zhejiang Academy of Sciences jointly set up a laboratory to develop key LED upstream equipment for the actual needs of LED production at home and abroad.
In September, Tiantong Co., Ltd. announced that it will raise 309 million yuan to build nearly half of the 1.45 million 4-inch LED sapphire substrate material technology transformation project and supplementary liquidity. The issue of this non-public offering is the company's second largest shareholder Tiantong Gaoxin Group Co., Ltd. and Ms. Du Haili.
It can be seen from the financial report of Tiantong Co., Ltd. that its own funds are not in a state of tension, but the major shareholders of the company increase their shareholding in this way. First, they indicate that the major shareholders are stronger and stronger in the LED industry. The determination and confidence, the second is to show the confidence and determination of the major shareholders in the future development of the company, and the third is to increase the company's financial strength through the increase of the majority shareholder, which provides sufficient energy and power for the company's subsequent development.
"If Chinese companies want to have a voice in the international arena, they must be able to manufacture their own better products in terms of equipment and materials." Pan Jianqing said that this year he hopes to promote the LED industry chain through upstream core materials and equipment to form a core. Competitiveness.
Electronic materials and high-end equipment are the two traditional core businesses of Tiantong, which are now used in the LED industry. The materials currently used in the LED field are mainly sapphire substrates and driving power magnetic materials, and the equipment is mainly the key equipment of LED upstream.
Although this year's materials and equipment did not produce much economic performance, this does not affect the confidence of Tiantong's chairman Pan Jianqing in the layout of the LED industry.
As an emerging industry, LED has always been a fertile ground for brands to create. However, in the current LED market, there is no strong domestic brand. According to Pan Jianqing's idea, Tiantong hopes to open up the LED industry chain and form a dominant brand through the advantages of traditional business.
Core materials and equipment
Zhang Xiaofei: Tiantong has been developing for more than 20 years. The batch of material enterprises established in the same period has risen and has riches. However, in 2011, Tiantong's sales amounted to 1.36 billion yuan. Do you think the company missed many opportunities? Because when you went public in 2001, there were more than one billion plates.
Pan Jianqing: In the 30 years of Hedong in the 30 years of Hedong, I have also thought about this problem. We have both losses and losses. Companies that made electronic materials (magnetic materials) in the early days were very hard. Because you don't have this market space, you can't jump out of this circle, so it's basically based on exports. At that time, China did not have market demand, which restricted the development of the upstream high-end new electronic materials industry.
But now China's demand has changed, and the domestic demand market has gradually expanded. There have been many foreign-invested companies entering China in the past few years, but there are few companies investing in high-end equipment and core new materials. This shows that foreign companies are firmly in the hands of these products and technologies. Before, we spent a lot of energy in these areas. Although the direct benefits of the harvest are relatively small, our space will only grow larger in the future.
Therefore, in the 30 years of Hedong, 30 years of Hexi, do not doubt the industry, and insist on the industry. Now all the layouts of Tiantong are for the '12th Five-Year' and '13th Five-Year Plan.
Zhang Xiaofei : Tiantong is known as the "King of Soft Magnetics". Previously, the main business was electronic materials (magnetic materials). Why would you consider the main focus of LED sapphire crystal materials?
Pan Jianqing: Now we have two main businesses: electronic functional materials and special high-end equipment. We have long-term electronic (magnetic) materials, management experience, coupled with magnetic materials and LED sapphire crystal materials have a certain degree of industrial relevance, the span is not very large, the two are complementary, for our material manufacturers, professional Advantages.
In the LED field, we are primarily targeting upstream materials and downstream applications. At present, there are two cores in the LED field, light source and power supply. The light source is mainly epitaxial, chip, sapphire substrate material is needed, and the power source needs to use magnetic material. These two electronic materials are precisely the focus of our strategic development plan. We are already leading the industry in magnetic materials, and the sapphire substrate materials must be the top three in China.
Zhang Xiaofei: LED is not what everyone wants to do. First of all, we must stand in the LED industry technology supply perspective and have a deeper understanding of the entire supply process. Crystal substrate materials, what are the conditions for you to do in the top three in China?
Pan Jianqing: In the field of electronic materials special equipment, we are currently developing jointly with foreign countries, and basically have strong R&D and manufacturing capabilities. In the field of LEDs, especially in the field of crystalline materials, almost all of our equipment is being developed, so we have the ability to produce at low cost. At the same time, through the improvement of equipment technology, the technical quality of products is promoted.
The LED industry is not something that ordinary people can do and do well. The LED industry chain is very long. The technical characteristics and capital characteristics of each field in each chain vary greatly. From upstream to midstream to downstream, the industry enters the threshold. Gradually lower. The upstream substrate material and epitaxial wafer have typical "double high" (high technology, high capital) characteristics. The midstream chip has high technology content and relatively dense capital. The downstream package has lower technical content and capital investment, and the application product is lower. The technical content and capital investment are the lowest. At present, the upstream key materials, equipment, and core technologies are basically monopolized by foreign manufacturers, and the entry threshold is relatively high, so it can be done not only with funds.
In these two fields, Tiantong can support each other's industrial development. Materials can drive the equipment, and the equipment can make the material better. But after making the materials, the most important thing is to have a release port to apply. Now we put this application port first in the LED industry. After several years of exploration and cooperation with foreign parties, Tiantong has mastered a certain core technology of crystal production, coupled with the support of special equipment industry and the advantages of low-cost production, so it has certain advantages to develop LED industry. .
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