In 2012 China's LED display industry competition is fierce, following the 2011 junduoli, bolunteguang photoelectric, this year's vision photoelectric shut down after the recently billion LED display enterprises Shenzhen hibo photoelectricity owed by the supplier payment and huge employee wages and commissions in the closed edge. November 9th, the reporter interviewed a number of industry insiders also said that many LED companies, including listed companies will face a cruel test, and even do not rule out the possibility of wearing a ST hat.
This would have been a market capacity of about 200000000000 light industry, and now, there are many companies trying to solve the funding problem. Flush statistics show that in the year to November 10th, listed the 7 LED companies, stock prices fell sharply decline in all, ranging from 20%-65%, not only is the market environment has fell, from the results of these six companies have four performance decline, the lowest decline of 18%, the highest decline in 94%, and from all 20 related to listed companies, 13 quarter sales fell three.
After these companies from the two market quanqian solve the funding problem, back to the market is a loss? Or LED's story in the capital market has faded aura?
Decline in the profitability of a number of LED listed companies
One side is constantly LED business failures, while the other side is a large-scale investment in the LED industry. But whether it is the performance of Listed Companies in the three quarter of this year, Nandu reporter interviewed industry insiders point of view, have shown that the LED industry is struggling to start a large-scale lighting market.
Reporter according flush statistics found that 20 listed companies, 13 companies in the three quarter net profit fell, Jiawei shares, Silan, Elec-Tech, South photoelectric decline were as high as 92%, 88%, 57% and 52%, 7 listed companies and the only growth performance, leading Sanan optoelectronics business income, net profit growth of only 23% and 13% respectively, the two indexes of KingSun also increased by only 5% and 20%, while the two companies in 2011 2010, the performance increase is generally maintained at about 50% and 100%.
This year the industry is too optimistic about the progress of the promotion of LED. "Said the Deputy Secretary General of the Guangdong green industry investment fund EMC alliance Lin Zhaojing Nandu accepted a reporter to interview, although the LED market prospect is good, the government support is also great, but domestic demand has not started, there are three main reasons, first, the original enterprise business are mostly exported to Europe and the United States, and the economic crisis in external demand reduction, have a certain impact on the enterprise; secondly, the LED chip enterprises more intense competition, prices fell too fast, resulting in decline in profits; third, some city domestic implementation of EMC model also has a certain degree of difficulty, to wait after the change of government in order to gradually have new progress.
Leading enterprises rely on subsidies profits
Warburg securities TMT researcher Wu Binghua also believes that the LED industry has been a red sea. Excessive investment makes the industry oversupply, and focus on the lower technical barriers in the middle and lower reaches. Future LED industry companies, including listed companies, will face the brutal survival of the fittest process. A small number of enterprises will grow stronger and more enterprises will face the fate of being eliminated.
The reporters found that the number of LED listed companies in the three quarter profits are very meager, such as Jiawei shares three quarter net profit of only 3 million 420 thousand yuan, Silan and Chau Ming technology is only 15 million yuan and 18 million yuan of profit.
The net profit of the larger companies, government subsidies accounted for the larger proportion of net profit, such as the mid year Sanan optoelectronics for 460 million yuan, government subsidies accounted for about half, Elec-Tech mid year net profit of 120 million yuan, government subsidies amounted to 150 million yuan, Guangdong Province, the ratio of government subsidies is not high, but KingSun mid year received government subsidies of 9 million yuan, accounting for about 20% of the net profit, the country star power of this data is about 25%.
Lin Zhaojing said that the Guangdong LED package listing of the listed companies in recent years a considerable number of export orders made by the first pot of gold, but the future of packaging smaller profit margins, the competition is very fierce, from the technical threshold, low power LED package is very easy to do, and can maintain high power and large area, good stability the enterprise is hard to find, Sanan optoelectronics, Guoxing photoelectric, strictly speaking is not ideal.
Part of the enterprise or dim delisting
Pearl River Delta is also an important city in the LED industry, is the most concentrated LED packaging, packaging industry, the largest area, the number of enterprises accounted for half of the country. Lin Zhaojing said that the Pearl River Delta enterprises to undertake overseas LED transfer of more enterprises, mostly in Shenzhen, Foshan, Guangzhou, Dongguan, Zhuhai and other places. At present, the domestic 20 LED listed companies, Guangdong province accounted for as many as the number of listed companies this year, there are 4 in Guangdong in the.
According to statistics the data card Hang Seng consulting firm, the PRD enterprises involved in upstream materials and chip listed companies, only Elec-Tech nationstar, nationstar larger scale in the middle of packaging industry, the rest of the listed companies, although known in the middle and lower reaches of all involved, but most business is still in the downstream lighting and applications.
Small scale enterprises in the future risk is particularly large. Wu Yulin, general manager of Foshan City Kai Europe Lighting Co., Ltd., chairman of the Foshan Lighting Association South are reporters bluntly.
Guangzhou Hang Seng consulting firm, a researcher said that the current package of eight listed companies in Taiwan average sales of 1 billion yuan, while the Guangdong province rarely quarterly revenue of three
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