[Text / Zhao Hui] With the release of the annual report, LED listed companies have generally emerged from the dilemma of “increasing revenue and not increasing profits†in 2012. It shows a gratifying situation of double revenue growth and net profit.
As the intermediate connection between the upstream epitaxial chip and the downstream illumination and display applications, the package is the biggest beneficiary of the pull function that directly feels the downstream lighting demand.
“The most direct reason for the good harvest of packaging last year was that the downstream lighting, display and consumer electronics backlight growth exceeded expectations.†Zhang Hongbiao, research director of Gaogong LED Industry Research Institute (GLII), said that with the gradual improvement of domestic packaging enterprise technology, Cost-effective domestic devices have been recognized by most application companies, and have already occupied the market share of Taiwanese factories and some international companies.
The packaging enterprises that have overcharged the “three-five buckets†have also accelerated the pace of expansion and integration, and more and more packaging factories have been extended downstream. The cross-border effect has also become apparent in the first quarter of 2014.
Li Peng, a researcher at BOC International Securities, said, “2014 will be the first true lighting year for LEDs. The upstream and midstream of the industry chain will be driven by downstream demand.†This fiery performance is directly reflected in the packaging of listed companies. In the annual report performance.
According to the analysis of the annual report of the major packaged listed companies, in 2013, the packaging enterprises generally had a boom in production and sales. The increase in sales exceeded the adverse impact of the price decline, thus achieving a year-on-year increase in net profit. In addition to Lehman Optoelectronics (300162.SZ), major listed packaging companies, such as Ruifeng Optoelectronics (300241.SZ), Hongli Optoelectronics, Guoxing Optoelectronics (002449.SZ), Jufei Optoelectronics (300303.SZ) and other corporate camps The income has increased by more than 20%, and the net profit has also maintained a corresponding proportion of growth.
Reflected in the capital market, since the second half of last year, institutional investors have begun to conduct frequent field research on packaged listed companies.
G20-LED Lighting Summit member Hongli Optoelectronics (300219.SZ) only received intensive field research of 24 institutions in January 2014, and the field research of National Star Optoelectronics and Ruifeng Optoelectronics Reception Institutional Investors also increased .
Ping An Securities Research Report pointed out that LED will be a section throughout 2014. In the context of rapid lighting and rapid growth in demand, many companies will usher in the turning point of profit margin and ROE. Most of the LED midstream packaging companies have the need for mergers and acquisitions and refinancing this year. Since the profit base is generally not high, the corresponding performance elasticity is quite large, and the possibility of black horses is relatively high.
The packaging company was the first to lead the upstream and downstream enterprises to turn over and grow against the trend last year. In addition to benefiting from the demand growth brought by the downstream application market, the packaging companies themselves increased their capacity release, especially the development of production and equipment for lighting white light devices. No.
"Now the downstream bulbs, lamps, panel lights and other products are mainly used domestically produced devices." Wang Peng, deputy general manager of Baishi Optoelectronics, said that this is a major market opportunity for domestic devices. Last year, the supply of white light devices in many packaging companies was very tight.
On the other hand, with the technological advancement of domestic packaging companies, the product research and development strength is continuously enhanced, the quality of domestically produced devices is significantly improved, and downstream application manufacturers are also accepting cost-effective domestically produced devices. In the past, they were firmly put in place by Japanese and Korean companies and Taiwanese packaging factories. Some of the mid- to high-end devices in control are now being tapped into their supply chains by domestic packaging companies.
"In the middle, domestic packaging devices occupy the vast majority of the domestic market, the proportion of imported packaging devices in China is rapidly decreasing, and domestic devices occupy a major domestic market share." Dr. Zhang Xiaofei, a high-tech LED CEO, believes that some domestic packaging devices have been exported to foreign countries, China. LED packaging is beginning to go global.
As the intermediate connection between the upstream epitaxial chip and the downstream illumination and display applications, the package is the biggest beneficiary of the pull function that directly feels the downstream lighting demand.
“The most direct reason for the good harvest of packaging last year was that the downstream lighting, display and consumer electronics backlight growth exceeded expectations.†Zhang Hongbiao, research director of Gaogong LED Industry Research Institute (GLII), said that with the gradual improvement of domestic packaging enterprise technology, Cost-effective domestic devices have been recognized by most application companies, and have already occupied the market share of Taiwanese factories and some international companies.
The packaging enterprises that have overcharged the “three-five buckets†have also accelerated the pace of expansion and integration, and more and more packaging factories have been extended downstream. The cross-border effect has also become apparent in the first quarter of 2014.
Li Peng, a researcher at BOC International Securities, said, “2014 will be the first true lighting year for LEDs. The upstream and midstream of the industry chain will be driven by downstream demand.†This fiery performance is directly reflected in the packaging of listed companies. In the annual report performance.
According to the analysis of the annual report of the major packaged listed companies, in 2013, the packaging enterprises generally had a boom in production and sales. The increase in sales exceeded the adverse impact of the price decline, thus achieving a year-on-year increase in net profit. In addition to Lehman Optoelectronics (300162.SZ), major listed packaging companies, such as Ruifeng Optoelectronics (300241.SZ), Hongli Optoelectronics, Guoxing Optoelectronics (002449.SZ), Jufei Optoelectronics (300303.SZ) and other corporate camps The income has increased by more than 20%, and the net profit has also maintained a corresponding proportion of growth.
Reflected in the capital market, since the second half of last year, institutional investors have begun to conduct frequent field research on packaged listed companies.
G20-LED Lighting Summit member Hongli Optoelectronics (300219.SZ) only received intensive field research of 24 institutions in January 2014, and the field research of National Star Optoelectronics and Ruifeng Optoelectronics Reception Institutional Investors also increased .
Ping An Securities Research Report pointed out that LED will be a section throughout 2014. In the context of rapid lighting and rapid growth in demand, many companies will usher in the turning point of profit margin and ROE. Most of the LED midstream packaging companies have the need for mergers and acquisitions and refinancing this year. Since the profit base is generally not high, the corresponding performance elasticity is quite large, and the possibility of black horses is relatively high.
The packaging company was the first to lead the upstream and downstream enterprises to turn over and grow against the trend last year. In addition to benefiting from the demand growth brought by the downstream application market, the packaging companies themselves increased their capacity release, especially the development of production and equipment for lighting white light devices. No.
"Now the downstream bulbs, lamps, panel lights and other products are mainly used domestically produced devices." Wang Peng, deputy general manager of Baishi Optoelectronics, said that this is a major market opportunity for domestic devices. Last year, the supply of white light devices in many packaging companies was very tight.
On the other hand, with the technological advancement of domestic packaging companies, the product research and development strength is continuously enhanced, the quality of domestically produced devices is significantly improved, and downstream application manufacturers are also accepting cost-effective domestically produced devices. In the past, they were firmly put in place by Japanese and Korean companies and Taiwanese packaging factories. Some of the mid- to high-end devices in control are now being tapped into their supply chains by domestic packaging companies.
"In the middle, domestic packaging devices occupy the vast majority of the domestic market, the proportion of imported packaging devices in China is rapidly decreasing, and domestic devices occupy a major domestic market share." Dr. Zhang Xiaofei, a high-tech LED CEO, believes that some domestic packaging devices have been exported to foreign countries, China. LED packaging is beginning to go global.
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