After a year of fierce competition, LED companies began to disclose their performance last year. Previously, the cost of LED lighting has gradually declined, and it has begun to accelerate the replacement of traditional incandescent lamps. Some industry players therefore expect that 2014 will be a year of explosive growth for LED companies, but in fact the answer sheets issued by LED companies are not satisfactory.
Taking Guangdong Province, a province with large LED provinces as an example, the reporter learned that up to now, a total of 18 key LED listed companies in Guangdong have announced performance forecasts or annual reports. Although more than 80% of the key companies are in a profitable state, the general growth rate is less than expected. A few companies' net profit growth rate exceeded 50%.
Some insiders pointed out that due to the low threshold of LED industry, the capital of each channel is rushing to enter, the supply is gradually increasing, the concentration of industry is scattered, and the “cake†that large enterprises can share shrinks. Even if the market is better, the performance of the company is “blowoutâ€. "It also failed to appear.
Strong growth is expected to fall <br> <br> ban incandescent national policy in the warm air, the LED market last year ended a long downturn trend to pick up a large number of industry insiders estimate that 2014 is the LED "broke in", also LED business performance A year of explosive growth.
However, the statistics released recently show that the performance of the relevant LED companies "response" is less than expected, it is difficult to say explosive growth. Taking Guangdong Province, a province with large LED provinces as an example, the total output value of LED industry in Guangdong Province in 2014 was 346.06 billion yuan, a year-on-year increase of 23.09%.
In terms of profit growth, 8 out of 18 key LED listed companies estimated net profit growth rate of more than 20%. Among them, Lianjian Optoelectronics, Changfang Lighting and Zhouming Technology expect net profit growth rate to exceed 50%. Some companies have experienced a decline in profits or losses.
“There is no explosive growth in performance. First of all, because the domestic environment has changed, the lighting industry has a greater relationship with the real estate market. The real estate slump has led to a slowdown in the growth of the LED industry.†Wu Yulin, president of Foshan Lighting and Lighting Industry Association, told reporters Said.
Some of the industry concentration is low restrict earnings growth <br> <br> that although 2014 has been warmer LED industry, both upstream chip, or midstream and downstream packaging applications, industrial concentration was low, which is restricting business The main reason for the explosive growth of performance.
It is understood that in the upstream field of LED, the commercial chip manufacturers represented by Sanan Optoelectronics and Huacan Optoelectronics have increased their concentration with the support of local governments, but the entire upstream sector still needs to further eliminate small-scale production enterprises to improve concentration. .
In the middle of the packaging industry and the downstream lighting application industry, the industrial concentration is even less good.
Ping An Securities analyst Liu Yifeng said in the research report that in 2014, the expansion of China's packaging giants increased by 50% year-on-year, while chip manufacturers' expansion increased by only 20% year-on-year. In 2015, the packaging capacity surplus will exceed that of chips. Due to the low concentration of the packaging industry, the distribution is scattered, the industry threshold is low, and the competition is fierce, which makes it difficult for the industry to intercept profits. "Either LED packaging or LED lighting applications, the concentration is too low. At present, there is not a LED company's market share can account for 5% of the entire 200 billion LED market, and few companies can achieve one sales. Two billion yuan." Wu Yulin told reporters that it takes at least two to three years for a big brand to appear. Despite the recovery of the LED industry, due to the entry of various capitals, the industry concentration is low, the competition is fierce, and the company's reshuffle continues, so the explosive growth of performance is difficult to appear.
Liu Yifeng further pointed out in the research report that the LED industry will maintain the situation of oversupply in 2015. The LED industry structure is expected to undergo tremendous changes. The powerful large enterprises will further expand their production capacity and increase their market share. Small and medium-sized manufacturers will accelerate the elimination, and the entire LED industry will show a weak and strong situation.
Taking Guangdong Province, a province with large LED provinces as an example, the reporter learned that up to now, a total of 18 key LED listed companies in Guangdong have announced performance forecasts or annual reports. Although more than 80% of the key companies are in a profitable state, the general growth rate is less than expected. A few companies' net profit growth rate exceeded 50%.
Some insiders pointed out that due to the low threshold of LED industry, the capital of each channel is rushing to enter, the supply is gradually increasing, the concentration of industry is scattered, and the “cake†that large enterprises can share shrinks. Even if the market is better, the performance of the company is “blowoutâ€. "It also failed to appear.
Strong growth is expected to fall <br> <br> ban incandescent national policy in the warm air, the LED market last year ended a long downturn trend to pick up a large number of industry insiders estimate that 2014 is the LED "broke in", also LED business performance A year of explosive growth.
However, the statistics released recently show that the performance of the relevant LED companies "response" is less than expected, it is difficult to say explosive growth. Taking Guangdong Province, a province with large LED provinces as an example, the total output value of LED industry in Guangdong Province in 2014 was 346.06 billion yuan, a year-on-year increase of 23.09%.
In terms of profit growth, 8 out of 18 key LED listed companies estimated net profit growth rate of more than 20%. Among them, Lianjian Optoelectronics, Changfang Lighting and Zhouming Technology expect net profit growth rate to exceed 50%. Some companies have experienced a decline in profits or losses.
“There is no explosive growth in performance. First of all, because the domestic environment has changed, the lighting industry has a greater relationship with the real estate market. The real estate slump has led to a slowdown in the growth of the LED industry.†Wu Yulin, president of Foshan Lighting and Lighting Industry Association, told reporters Said.
Some of the industry concentration is low restrict earnings growth <br> <br> that although 2014 has been warmer LED industry, both upstream chip, or midstream and downstream packaging applications, industrial concentration was low, which is restricting business The main reason for the explosive growth of performance.
It is understood that in the upstream field of LED, the commercial chip manufacturers represented by Sanan Optoelectronics and Huacan Optoelectronics have increased their concentration with the support of local governments, but the entire upstream sector still needs to further eliminate small-scale production enterprises to improve concentration. .
In the middle of the packaging industry and the downstream lighting application industry, the industrial concentration is even less good.
Ping An Securities analyst Liu Yifeng said in the research report that in 2014, the expansion of China's packaging giants increased by 50% year-on-year, while chip manufacturers' expansion increased by only 20% year-on-year. In 2015, the packaging capacity surplus will exceed that of chips. Due to the low concentration of the packaging industry, the distribution is scattered, the industry threshold is low, and the competition is fierce, which makes it difficult for the industry to intercept profits. "Either LED packaging or LED lighting applications, the concentration is too low. At present, there is not a LED company's market share can account for 5% of the entire 200 billion LED market, and few companies can achieve one sales. Two billion yuan." Wu Yulin told reporters that it takes at least two to three years for a big brand to appear. Despite the recovery of the LED industry, due to the entry of various capitals, the industry concentration is low, the competition is fierce, and the company's reshuffle continues, so the explosive growth of performance is difficult to appear.
Liu Yifeng further pointed out in the research report that the LED industry will maintain the situation of oversupply in 2015. The LED industry structure is expected to undergo tremendous changes. The powerful large enterprises will further expand their production capacity and increase their market share. Small and medium-sized manufacturers will accelerate the elimination, and the entire LED industry will show a weak and strong situation.
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