The arrival of the era of LED enterprise integration

Recently, Ruifeng photoelectric (300241) and TCL group Limited by Share Ltd, Taiwan canyuan subsidiary Hongkong Yuxing Enterprise Co Ltd jointly invested 200 million yuan in Huizhou City Zhongkai high tech Development Zone jointly set up a joint venture company. Among them, the TCL group and REFOND canyuan photoelectric subsidiary enterprises 25%, 51% Yuxing shares were 24% and.

This is a typical upstream and downstream vertical integration projects, canyuan is Taiwan's second largest chip factory, REFOND is well-known domestic packaging of listed companies, and to light the main business, and the TCL group is the mainland LCD TV manufacturers, the downstream channel resources, and has the advantage of brand, established three the joint venture can get through a complete industrial chain, complementary resources obviously. At the same time to find a circle and REFOND capacity to the sea. For TCL group, its LCD TV business can be stable, low-cost packaging suppliers, while TCL holdings can guarantee the upper reaches of the supply delivery and product quality.

However, insiders pointed out that this project looks good, but the key is to look at the specific operation of the late. Before the industry also has a lot of the company's joint venture in Taiwan recently, Wang Qi technology announcement, TCL group announced the suspension of up to 2 years of joint venture, while the downstream REFOND have carried out cooperation in conformity with the NVC, but ultimately to no avail.

Speaking on the case of vertical integration in the upstream and downstream enterprises, in early 2012, Ya Ming and Taiwan EPISTAR and AUO signed an agreement to the establishment of a joint venture company vertical integration of industrial chain, then stop the project. Ya Ming said that due to the light source project and the company's strategic objectives to the lamp does not match the stop. Analysis of the industry, simple lighting business is difficult to support the output capacity of the packaging plant.

At present, the entire lighting industry market is bleak, although the market penetration of LED lighting continues to improve, but still less than 10%, supporting the development of the LED industry is still the main backlight market, especially in large backlight. Although the backlight market growth rate gradually slowed down, but still far from saturation, and domestic television business is mainly concentrated in several large factories. Industry insiders say.

It is reported that, TCL group in 2012 sales of 15 million 520 thousand sets of LCD TV, in accordance with the corresponding purchase price of each package TV package $35, TCL group's demand of about 540 million yuan. 2012 Ruifeng photoelectric large-size backlight business grew by more than 66%. The establishment of the joint venture will enable the company to break through the original TV backlight customers Changhong and Konka, and successfully entered the domestic TV giant TCL supply chain.

In the long run, the establishment of the joint venture is not limited to the lock backlight business, but to promote the promotion of the lighting industry to do through the industrial chain. TCL set up the lighting devices branch, and with "the return of the king" attitude of the reforming of LED lighting business, not only to carry out national tour and great in strength and impetus of brand promotion dealer meeting, and that in 2013 to achieve LED lighting to achieve sales accounted for 40%, with 2 years of time to achieve LED lighting sales accounted for more than 6.

The introduction of low-cost products to meet the pre layout of the lighting market makes the LED industry more competitive, the trend of industrial integration is becoming increasingly evident. On the one hand, towards a more detailed specialization division of labor, on the other hand, the complementary strengths of the combination is also an important trend of industrial restructuring. The combination of open up the industry chain can play a coordinated role of development, shorten the development of new products listed on the process, application of new technology, can effectively reduce the cost, to seize the market at a low price, speed and scale advantages.

The characteristics of industrial integration has changed from the past single enterprise vertical integration or strategic cooperation and integration, change to multiple levels of integration between enterprises, the integration of more diverse forms, mutual participation, joint venture, mergers and acquisitions have been showing. Which way is more competitive, not only the complementary advantages of complementary resources, but also the wisdom of the operation and management of entrepreneurs.