LED chip industry reshuffle war curtain capital "cold" intensified integration

Since last year, Sanan Optoelectronics (SH.600703) in canyuan photoelectric, de Ho Runda (SZ.002005) has become the single largest shareholder of NVC commando, China, LED upstream chip industry continues to shock, mergers and acquisitions move frequently, billion chip factory closed is also staged a series of events seems to indicate that the upstream LED chip industry the integration of the tide has come.

On the eve of the Spring Festival this year, invenlux optoelectronic shareholders in the Gulf of Hangzhou LED industrial park the occurrence of severe concussion, the company closed, then start the restructuring.

In April 9, 2013, China, red and yellow light chip leader - changelight (SZ.300102) and Jin Ying (Samoa) Technology Co., Ltd. signed the "agreement" intent on equity in Dongguan Lei Chau Electronics Co. Ltd. intends to transfer from its own funds held by the Dongguan science and technology Jin Ying transferee photoelectronicsco. 100% stake in the company holding Dongguan Lei chau.

Followed, Ma'anshan harmony Photoelectric Technology Co. Ltd. (hereinafter referred to as "harmony photoelectric") announced the successful acquisition of Jiangxi Rui Technology Co. company (hereinafter referred to as the "core technology"), and has completed the transfer procedures.

A shuffling war clouds has enveloped the entire chip industry, equity acquisition, equity holding, production restructuring and a series of measures by the chip manufacturer or in the hands of LED, the upstream chip industry integration has entered a substantive stage.

Upstream continuous fermentation

Long before the three optical canyuan shares in Taiwan area, China epitaxial chip industry had been a "fish" case. In August 2012, EPISTAR hit 4 billion NT Guangjia photoelectric acquired by way of share transfer, a wholly owned holding company.

Li Bingjie, chairman of crystal electricity, said the expansion of the scale of mergers and acquisitions to expand the scale of the chip is the established strategy of crystal, but also the need for crystal industry integration.

M & a huga, EPISTAR has MOCVD close to 300, has been able to compete with the international giant LED chip in equipment number. In the first quarter of 2013, the operating rate of the equipment is about 70% crystal, the two quarter is expected to climb to more than 90%, the company's loss of state is expected to be at the end of the two quarter to break even. "Sales center, EPISTAR crystal ingot morning photoelectric deputy general manager Wang Junbo told reporters.

EPISTAR has always regarded for its rival Sanan optoelectronics has not been idle. In EPISTAR "marry" Guangjia after just three months less than time, bent over, EPISTAR become Asia's first three photoelectric chairman Lin Xiucheng finally himself.

In November 2012, three optical intends to use the raised funds less than NT $2 billion 352 million (about 506 million yuan) for the Taiwan area second epitaxial chip factory canyuan photoelectric in private offering of not more than 120 million shares of common stock held by canyuan photoelectric approximately 19.9% of the shares in the largest shareholder.

Previously, Li Bingjie in a media interview, bluntly said that three and crystal electric fight long-standing price shocks in the first half of 2012, chip Guangjia photoelectric performance once into a huge loss and an optoelectronic three are not unrelated.

"The development of any industry will experience a process from the embryonic stage to the outbreak stage and then to the mature stage. LED chip industry is now in the process of transition from the outbreak of the period to maturity, this time there will be some more intense changes in the industrial chain, began to seize mergers and acquisitions between large enterprises. Wang Junbo made the above judgment on the current situation of the upstream industry LED.

In fact, the industry is also close to the outbreak stage is also a good opportunity for the leading enterprises to show their talents.

In an optoelectronic canyuan photoelectric shares announced soon, Elec-Tech to thunder trend through the purchase of shares and shareholder equity transfer of shares of NVC, which holds 20.5% of the shares to become the largest shareholder of nvc.

Enter after 2013, upstream of the LED merger situation continues to ferment, including the acquisition of Jiangxi Rui Ma'anshan harmony photoelectric technology, Xiamen changelight acquisition of Dongguan Lei chau.

Shanghai Orient Securities analyst Zhou Jun said that Chinese, LED upstream industry gradually clear pattern, 7 listed companies in Sanan optoelectronics, led by de Ho Runda has formed the first echelon, the remaining unlisted dozens of chip companies for the second echelon.

But in addition to Hunan Hua Lei, Shanghai, Shandong, as well as the wave of Huaguang, the majority of small businesses, technology is weak, the future is bound to be the integration of mergers and acquisitions object.

High engineering LED Industry Research Institute (GLII) is expected in 2013 will be the beginning of the upstream epitaxial chip integration, and in 2014 the LED industry consolidation will be launched on a large scale.

A new round of playoffs

In addition to mergers and acquisitions, the old chip manufacturer has recently been discovered in the Dalian Road, stoppages of wage arrears predicament, the new generation company invenlux also closed, also let LED chip industry reshuffle is becoming more and more obvious effect.

In late April, Dalian road Mingqi subsidiary Dalian Lumei chip science & Technology Co Ltd (hereinafter referred to as "Dalian road") was exposed due to financial difficulties and was discontinued, 100 employees pay talks door.

An unnamed industry insiders told reporters, Dalian Road, the main reason for the United States into the business difficulties may be a problem in the internal management of the company. Dalian Road, the United States and the high level of frequent replacement, before and after the two general manager Sun Zhijiang, Kang Jian took office soon resigned, other staff mobility is also very frequent. The person said.

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