Lighting industry "bubble" emerge? LED capital needs sincerely and Shen Zhi

As of August 31, 2013, the lighting industry listed companies in 2013 semi annual report fully disclosed. Semi annual report shows that in the first half of this year, 91% of listed companies operating income over the same period last year to enhance the average increase of 22.36%. Compared to last year, the overall performance steadily rising.

However, only a report from dozens of years, as many as hundreds of pages to see the prosperity of those gorgeous numbers, the surface is not enough, hidden in the annual report, hidden behind the development trend, the trend of the future may be more valuable.

Observe the outbreak of the 1:LED market dream into reality"

Just two years ago, the industry and the media focus or when the LED lighting market in the spring will come? ", the majority of manufacturers and worry" quick step into martyrs, a step slow cannon "embarrassment. However, as of now, the answer to this question has become increasingly clear, it can be said that the outbreak of the LED market has been a dream into reality".

According to reports, the first half of this year, LED industry output continued to rise, an increase of 25%, higher than last year's annual increase of 23%. And corresponding to the 2013 semi annual report of Listed Companies in the lighting, 91% of listed companies operating income compared to the same period last year to enhance. Among them, in the first half of the year operating income rose by listed companies, 13% companies rose by 50% or more; 7% of enterprises rose by 30% to 40%; 30% of the enterprises rose by 20% to 30%; 27% of the enterprises rose by 10% to 20%; 23% enterprises rose by is less than 10%.

It is worth mentioning that, in 2013, the performance of Listed Companies in Shenzhen can be described as two days of ice and fire". First of all, an increase in operating income in the top 5, Shenzhen listed companies occupy 4 seats, respectively, Shenzhen REFOND optoelectronics Limited by Share Ltd (67.01%), Shenzhen City, a Limited by Share Ltd of semiconductor lighting (53.47%), Shenzhen Jufei Au Optronics Co (52.54%), a large group of Limited by Share Ltd (39.21%), the performance of the people is one of the bright eyes.

At the same time, an increase in revenue at the end of 5, Shenzhen listed companies also occupy 3 positions, respectively, Shenzhen wealthrun Polytron Technologies Inc (2.8%), Shenzhen autuo electronics Limited by Share Ltd (-5.01%), Shenzhen sea star Polytron Technologies Inc (-47.79%).

Admittedly, in the overall environment is not bad, the performance of listed companies and the lighting market gradually rise to pick up LED and LED are not unrelated, the market has gradually prosperous potential by outdoor lighting to commercial lighting and lighting Home Furnishing. Even a few years ago, the development of LED lighting attitude Wu Changjiang also publicly said: LED lighting has come in the spring.

Shenzhen REFOND optoelectronics Limited by Share Ltd as an example, the first half of this year, the operating income increased by 67.01% compared to the same period last year topped it in the "2013 semi annual report wrote:" during the reporting period, the company achieved operating income of 294 million 382 thousand and 800 yuan, an increase of 67.01%; net profit of 2618.21 yuan, an increase of 31.61%. At the same time, "semi annual report" also described: the lighting market, with the further implementation of the national energy subsidies policy, and the national development and Reform Commission, Ministry of science and technology, the Ministry of finance, Ministry of housing and urban construction and national quality inspection administration of 6 ministries to develop the "semiconductor lighting industry planning" officially released that part of the traditional lighting enterprises to increase the promotion of LED lighting, lighting market with commercial lighting, indoor lighting and burst out of the start of the second half of the 2012 difficulties, strong demand for downstream applications. In the first half of 2013, the company's sales of LED lighting products 137 million yuan, an increase of 49.23%.

It is not difficult to see that the majority of listed companies on the current and future LED market confidence and determination.

The government weaned, still can rice no?

Although the overall performance of the current lighting of listed companies is on the rise, but some problems hidden in the annual report can not be ignored, such as "government subsidies on the performance of the company and the net profit of about, let the industry can not help worrying: Government weaning has been able to eat?

It is undeniable that the rise of LED industry in China and the government's strong push. The early, local government subsidies given to a great extent on the "style" part of the LED listed companies transcripts, the beneficiaries include three safety optoelectronics, KingSun, Elec-Tech and a large number of listed companies.

In Sanan optoelectronics, Sanan optoelectronics had shown: announcement in 2012, 2011, 2010 three years, the amount of government subsidies for Sanan optoelectronics are respectively 328 million yuan, 805 million yuan, 253 million yuan, respectively, accounted for the net profit of the year 40.5%, 86% and 60.4%, the proportion of high staggering. According to the three optical first quarter report shows that during the reporting period, the Company attributable to shareholders of listed companies net profit of 160 million yuan, down 18.77%. Analysis of the industry, and the "first quarter only Sanan optoelectronics received government grants 11 million 10 thousand yuan, resulting in operating income increased significantly by 68.4% to 48 million 260 thousand yuan are not unrelated.

In the first half of this year, most can see government subsidies for the net profit of listed companies LED great influence is elec-tech. According to the 2013 report, during the reporting period, the company achieved operating income of 1 billion 353 million yuan, an increase of 10.52%; net profit of 50 million 501 thousand yuan, down 59.38%.

Statistics show that in the middle of 2012, the government subsidies included in the current profit and loss of 154 million yuan,