At present, the LED industry is fierce and even becomes the focus of VC investment, but it also has a lot of chaos. In the case of constant state subsidies, quite a few LED companies are not doing well.
At present: a large number of companies have stopped selling LED listed companies or wearing ST hats, and some companies have even withdrawn from the market. Straight Flush statistics show that from the beginning of this year to November 10, there were 7 listed LED companies, all of which fell sharply, ranging from 20 to 65. Not only is the stock market falling due to the market environment, from the performance, 7 Four of the company's performance declined, with the lowest decline of 18 and the highest decline of 94. According to the statistics of the straight flush, 13 of the 20 listed companies saw a year-on-year decline in net profit in the third quarter. The declines of Weiwei, Shilanwei, Dehao Runda and Nanda Optoelectronics were as high as 92, 88, 57 and 52 respectively. Among the seven listed companies with growth in performance, the operating income and net profit of the leading Sanan Optoelectronics also increased by only 23 and 13, respectively. The two indicators of Qinshang Optoelectronics only increased by 5 and 20, and the two companies in 2011, The growth rate in 2010 is generally maintained at around 100 and 50. The profit of a number of LED listed companies in the third quarter is very meager. For example, the net profit of Weiwei Co., Ltd. in the third quarter was only 3.42 million yuan, and Shilanwei and Zhouming Technology also had profits of only 15 million yuan and 18 million yuan.
Since 2011, Duo Duoli, Bolun Optoelectronics Co., Ltd. and this year’s Vision Optoelectronics Co., Ltd. have stopped production, Shenzhen Haobo Optoelectronics Co., Ltd., which has invested more than 100 million LED display screens, has been in arrears with suppliers’ huge payment and employee salary and commission. Struggling in a business dilemma.
At this time, there are still many home appliance giants entering the lighting market. In this regard, Shanghai Teyou Shi Lighting co-founder Yin Wei said that he is not optimistic. Chen Yansheng, vice chairman and secretary general of China Lighting Association, said: Selling light bulbs and selling TV sets are two different things. Home appliance giants want to use home appliances channels to sell lamps.
The emerging LED industry has begun to mix and match, and there are many low-cost and inferior strategies in the enterprise. Some LED products have become garbage.
Most of the company's core technology experts Chen Yansheng told this reporter that more than 50 lamps in the Japanese lighting market are produced in China. China's lighting industry has a certain position in the world, but it is not strong enough. Why does this industry with more than 200 billion yuan of market capacity struggle for many companies?
In 2011, the output value of Guangdong's LED industry alone reached 151.5 billion yuan, which has doubled for two consecutive years. From January to September 2012, under the unfavorable situation of the impact of the international financial crisis and the increasing downward pressure on the economy, the LED industry in Guangdong has grown against the trend, achieving a total output value of 125 billion yuan, a year-on-year increase of 17.2; the total output value this year is expected to exceed 200 billion yuan. The output value and scale continue to rank first in the country. According to data from the Guangdong Science and Technology Department, there are more than 20 LED listed companies in Guangdong Province. The companies such as Qinshang Optoelectronics and Hongli Optoelectronics have successively landed in the capital market, with a total market value of more than 20 billion yuan.
According to the statistics of Guangzheng Hangsheng Consulting Co., the listed companies in the Pearl River Delta enterprises that are involved in upstream materials and chips are only Dehao Runda, Guoxing Optoelectronics and Zhenmingli. Guoxing Optoelectronics has a large scale in the midstream packaging industry, and the rest Most of the listed companies are still in the downstream lighting and application areas, and companies with operating incomes of 1 billion yuan are rare.
Subsidies increase the company's repeated capital expansion to implement the 12th Five-Year Energy Saving and Emission Reduction Plan. Since 2009, the state's subsidies to the LED lighting industry have increased. In May 2012, the Guangdong Provincial People's Government proposed to fully popularize LED lighting products in the public lighting sector in the province within three years, and to drive the LED industry to achieve the annual output value of more than 500 billion yuan in 2015.
According to data from the Guangdong Science and Technology Department, since 2010, Guangdong has invested 1.35 billion yuan in special funds to guide enterprises and society to invest nearly 6 billion yuan. A new round of promotion of the use of LED lighting products is on the rise.
According to Li Xinghua, director of the Science and Technology Department of Guangdong Province, in his public speech, the financial input has strongly supported the innovation breakthroughs in the key areas of the LED industry. The state subsidizes new energy to bring a new round of investment. Some people in the industry refer to this kind of LED investment as the herd effect, blindly follow the trend, and LED investment becomes more difficult to predict. Second, large companies have received state subsidies, invested in LED projects, and established industrial bases. However, their profits have been subsidized by the government for a long time, and their sustainability has been controversial. The third-quarter profit of Sanan Optoelectronics Co., Ltd. was 667 million yuan, and the subsidy was as high as 328 million yuan, accounting for nearly half. Coincidentally, Dehao Runda’s net profit for the middle of this year was 120 million yuan, and government subsidies were as high as 150 million yuan. National Star Optoelectronics has about 25 data.
In the face of huge subsidies, corporate investment is not only impulsive. Sanan Optoelectronics decided to raise funds totaling no more than 6.3 billion yuan to invest in Anhui Wuan Optoelectronics Industrialization (Phase II) project and Anhui Sanan Optoelectronics Co., Ltd. LED application product industrialization project. Currently, the public offering of shares has been The report to the China Securities Regulatory Commission is still under review.
Excessive investment has made the industry oversupply and concentrated in the middle and lower reaches of the lower technical barriers. In the future, companies in the LED industry, including listed companies, will face a brutal process of survival of the fittest.
Li Xinghua, director of the Provincial Department of Science and Technology, admits that the development of LED industry in Guangdong still faces many challenges: First, technological progress and rapid product replacement are fast. It is difficult for the country to establish a unified and standardized LED product quality standard system in a short period of time, resulting in a mixed market of products. It is beneficial to control product quality. Secondly, LED is a strategic emerging industry. Its development has its own characteristics and laws. The promotion and application of LED products have a huge impact on traditional lighting. It is difficult to break through the traditional interest pattern by relying on existing business models. Third, the upstream technology of the LED industry has a low self-sufficiency rate and high dependence on foreign countries. The industry is still at the low end of the innovation chain and value chain. These problems will not be solved and will hinder the rapid and healthy development of the LED industry.
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