Capital cross-border "testing water" LED "swinging" new industry pattern
December 14 21:07:40, 2023
There has been a saying on the Internet that China Mobile said that after so many years, it was discovered this year that Tencent was our competitor and expressed the earth-shaking competition brought by cross-border players. The LED circle is not lacking in the cross-border spoilers. It seems that it is not doing business, but the cross-border brings mature production management, capital operation and technology development capabilities from other industries. Sometimes it is inevitable that the old players in the LED industry will be shocked. . These listed companies, whose main business is not LED business but cross-border to play LED business, may face the growth ceiling in the original industry. However, after years of operation, they have accumulated strong capital strength, rich operational experience and well-trained talent team. Looking forward to entering the emerging LED field, they will not only be able to gain new business growth points, but also be able to invest in the capital market. People agree. Because of these innate advantages, although they do not operate LED business for a long time, while operating their own main business, their LED business is not worse than listed companies that focus on LED business, sometimes even Going beyond it. It is not impossible to hope that the fast-developing LED business will become a new growth point. In this annual report season, Xiaobian will take stock of the results of the cross-border show of these big coffees. Sapphire is a cross-border hotspot. In 2013, there were listed companies with bright sapphire concept stocks, such as Crystal Optoelectronics, Tiantong, Dongjing Electronics, etc., compared to their respective main businesses, although their respective sapphire business experience in 2012 The low tide period ushered in the year of 2013, but it is still in a small stage. However, because of the broad application prospects of sapphire in consumer electronics, these cross-border businesses have just started, but the growth space is still worth looking forward to. Among the listed companies in the sapphire substrate concept stocks, Crystal Optoelectronics' sapphire substrate revenue is the highest. Crystal photoelectric sapphire LED substrate and other revenues of 111 million yuan, an increase of 100.64; gross profit margin of 31.24; Jiangxi Crystal Photoelectric Co., Ltd. 2013 revenue of 90.385 million yuan, net profit of 20.618 million yuan. Since entering the sapphire project in October 2010, Crystal Optoelectronics' 2011 sapphire substrate revenue was 9,951,600 yuan, with a loss of 2.13 million yuan. By 2012, the crystal photoelectric sapphire substrate business has finally turned into a profit, the annual revenue has reached 49.853 million yuan, an increase of 424.13, a profit of 2.9 million yuan. In 2013, Crystal Optoelectronics said that the operating performance of the LED segment increased significantly. The sales share of the company increased from 8.46 to 16.11. The proportion of its main business optical segment sales to the company's total sales was adjusted from 90.64 to 82.27. In 2014, Crystal Optoelectronics We will expand the scale of sapphire substrates, accelerate the market pace of 4-inch sapphire substrates and PSS, and further explore overseas markets while increasing the proportion of sales in foreign markets while developing and maintaining good domestic customers. Rapid development of sapphire industry sector, tight Grasping the opportunity of sapphire in the application of optical products, open the market channel and quickly seize the market. Although Tiantong's sapphire substrate business in 2013 achieved a sales income of 28.07 million yuan, it still suffered losses because it was still in the stage of construction and construction, including the total cost of equipment commissioning, trial production and personnel training costs of 35.778 million yuan. Compared with the business in 2012, the business only brought 50,000 yuan in sales, and the operating profit loss was as high as 36.18 million yuan, but it was not as bad as the loss. Since the positioning of the main products is a 4-inch substrate, in 2014, Tiantong will start the subsequent capacity expansion plan according to market demand, including touch screen materials for mobile terminals, substrates for LED lighting and infrared detection windows to achieve scale effect and enhance Economic benefits. In 2013, Dongjing Electronics' LED sapphire series revenue was 8,765,600 yuan, a year-on-year increase of 147.47. Its LED business related companies are mainly three wholly-owned subsidiaries of Zhejiang Dongjing Optoelectronics Technology Co., Ltd. and Huangshan Dongjing Optoelectronics Technology Co., Ltd. Zhejiang Dongjing Bolante Photoelectric Co., Ltd. In its 2013 annual report, Dongjing Electronics said that the demand for quartz crystals and orders decreased in the third quarter of 2013, which led to a decline in the company's revenue. This explains why Dongjing Electronics has accelerated the process of long crystal, planar substrate, PSS projects and LED lighting projects under the strong demand of LED market. In addition, the original main business of Jingsheng Electromechanical and Zhonghuan from the cross-border is not sapphire, but as soon as they enter the sapphire field, they invest hundreds of sapphire crystal growth equipment in Inner Mongolia, so novices can not be underestimated. The competition pattern of the chip industry has gradually become clear, and the challenge of cross-border players is to first look at Silan Mingxin, a wholly-owned subsidiary of Silan Micro. In 2013, Silan Mingxin achieved operating income of 185 million yuan, a year-on-year increase of 19.57, net profit of -41.3 million yuan, and a loss increase of 41.76 compared with 2012. In 2014, Silan Mingxin plans to further expand the production capacity of epitaxial wafers, LED dies The production capacity has increased to 2.6 billion/month. With the further increase in the sales revenue of Silan Mingxin, its profitability will be significantly improved. Aoyang Shunchang once shouted in 2012. In 2013, it will be a key year for Aoyang Shunchang epitaxial chip and lighting production and sales, with a target income of 50 million yuan. The actual situation is this. Huai'an Optoelectronics realized the LED business sales income of 34.56 million yuan in 2013 and realized a net profit of 4,776,800 yuan. The LED project achieved the expected result of the profit of the year when it was put into production. In January 2014, Aoyang Shunchang plans to raise 400 million yuan to invest in the LED project. The application has been approved by the China Securities Regulatory Commission, and the expansion is also a trend. In comparison, Guangdong Ganhua, which successfully uncapped its cap, its LED epitaxial chip business is only an investment period. In 2013, Deli Optoelectronics' revenue was zero, with a loss of 1,694,700 yuan. In 2014, Guangdong Ganhua will realize mass production of epitaxial chips and expand to the middle and lower reaches. But in general, these listed companies that play epitaxial chips across the border face the gradual solidification of the LED chip industry competition pattern. It is difficult to have a dark horse in the short term. Moreover, in front of the Dehao Runda, this cross-border black horse is carrying a heavy debt burden and moving slowly, which is a good warning to the latecomers of radical expansion. Package application threshold low cross-border experience looks very beautiful. It is said that the domestic LCD TV ODM leading company's Zhaochi shares, entered the LED industry in 2011, its wholly-owned subsidiary Zhaochi energy-saving lighting company based on LED packaging, positioning in LED backlight Two core application areas for indoor lighting. In 2013, the sales revenue of Zhaochi Energy Saving Lighting Co., Ltd. was 660.7098 million yuan, a year-on-year increase of 120.16; the net profit was 58.274 million yuan, a year-on-year increase of 500.18. It is necessary to pay special attention to the fact that in just three years, Zhaochi’s LED business accounted for the total revenue. The ratio has been nearly 10. Its LED products and accessories have a gross margin of 21.22, which is higher than 11.19 for LCD TVs, 20.64 for digital set-top boxes, and 18.20 for video players. This is not difficult to explain that Zhaochi will add 200 LED packaging lines in 2014. The intention of 10 LED lighting lines. Dongshan Precision, which also makes a difference in the field of backlighting, should not be underestimated. Dongshan Precision's 2013 LED and its module revenues reached 1.375 billion yuan, an increase of 155.89 year-on-year; among which LED lighting products achieved sales revenue of more than 40 million yuan. In 2012, Dongshan Precision has developed nearly 50 long-term cooperative customers in the field of LED backlight products, and the market competitive advantage has been further strengthened. The revenue of its LED and its modules in 2012 was 537 million yuan, a year-on-year increase of 974.2. Xiamen Xinda's original volume is huge, and its main business involves electronic information, trade, real estate and other businesses. In 2013, Xiamen Xinda's total revenue was 25.649 billion yuan, a year-on-year increase of 46.36; net profit was 242 million yuan, a year-on-year increase of 210.07. Among them, Xiamen Xinda's photovoltaic business revenue in 2013 was 457 million yuan, an increase of 31.76, total profit of 46.284 million. Yuan, a year-on-year increase of 26.84. The main companies of the optoelectronics business are its wholly-owned subsidiary Xiamen Xinda Optoelectronics Technology Co., Ltd., Shenzhen Amp Optoelectronics Technology Co., Ltd., which holds 65, and Fujian Xinda Optoelectronics Technology Co., Ltd. Xiamen Xinda Contract Energy Management Co., Ltd. After the acquisition of Mairui Optoelectronics in 2013, Furi Electronics further expanded its LED business. However, in addition to Mai Rui Optoelectronics, the shareholding companies of other companies seem to be less optimistic. Mai Rui Optoelectronics' annual revenue of 3.76 million yuan, net profit of 34.02 million yuan; 51 shares of Furi Lighting's 2013 annual revenue of 175.362 million yuan, a loss of 25.7225 million yuan; accounting for 73.58 shares of Furi Photoelectric 2013 The annual revenue was RMB 197,700,000, and the loss was RMB 17.6 million. The revenue of Cross-Strait Lighting in 2013 was RMB 1,283,800, with a loss of RMB 3,604,100. The main LED business in the elevator business is Guangri. Its LED lighting business has developed over five years. In 2013, the total contract value was nearly 1 billion yuan and the sales revenue was 232 million yuan. Facing the rapid development of LED lighting, Feile Audio has put forward the goal of focusing on the advantages of resources to enter the LED application-end lighting market. Its wholly-owned subsidiary Shanghai Yaming Lighting Co., Ltd. achieved a total operating income of 1.649 billion yuan, a year-on-year increase of 0.44; net profit of 8.18 million yuan, a year-on-year decrease of 81.68. The holding subsidiary Shanghai Shengyi Industrial Co., Ltd. is a domestic first-class automotive LED lighting company. The products are used in various medium and high-end automobile brands. Traditional lighting factory: the transformation is difficult to cross-border and LED is used for lighting seems to be the fate of LED, no one doubts this. The first letter of the name of the LED is Lighting. But the LED is not only for lighting, but also for different fields such as signal display and consumer electronics. Therefore its industrial attributes are related to lighting but not equal. For traditional lighting factories, when LEDs gradually become the mainstream light source of illumination, they face serious pains of transformation. The depth of this pain is sometimes more painful than cross-border, and it is difficult. Cross-border is just to cultivate small saplings into large trees, and transformation sometimes requires the courage of a strong man to break his wrist. For those lighting manufacturers who dare to embrace change rather than confront the trend, the author pays deep respect to their courage. NVC Lighting said that in 2013, with the strong rise of the LED lighting market, the Group also adjusted its strategic deployment accordingly. NVC Lighting's LED lighting products sales revenue in 2013 reached RMB 741 million, a year-on-year increase of 197.4, accounting for 19.6 percent of the total revenue. NVC Lighting's channel advantage is still unique, 37 exclusive regional distributors, 3299 specialty stores, There are 632 outlets in the showcase and 1199 hardware outlets. In addition, e-commerce and EMC sales models have been gradually established and improved. Yangguan Lighting accelerated the transformation of LED. In 2013, Sunlight LED products realized revenue of 983 million yuan, a year-on-year increase of 170, sales of 32.01 million (sets), an increase of 271; LED lighting products accounted for the company's revenue from 2012. 14 upgraded to 2013 31. In 2014, Sunshine Lighting will invest 100 million yuan in the domestic marketing plan. On the basis of the development of commercial lighting and outdoor lighting in 2013, through the LED LED brand promotion, home and commercial LED products terminal store construction LED large customer large project services, further strengthen the development of the domestic market business. In addition, the domestic market launched a new brand promotion model based on the network, Weibo and WeChat as a platform to fully launch the channel of e-commerce platform such as Sunshine Lighting Tmall flagship store, Jingdong and Amazon. Through the construction of self-operated stores and the establishment of an online distribution system, Realize the online and offline linkage three-step music to plan the development of e-commerce operations. In contrast, Foshan Lighting, which is also transforming traditional lighting into LED lighting, avoided the data selection of LED lighting business revenue in its 2013 annual report. The company's T8 tube, T8 LED tube, LED The fist products such as bulbs, T8 and T5 integrated brackets have a strong influence in the market, so the expression of avoiding the weight seems to indicate the unspeakable hiddenness of the strong man.
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