In the era of LED concept, many companies that couldn't get in touch with the LED business eight have been rushing into the "LED tide". Is it a hot brain or a thoughtful one? Does the seemingly unbounded behavior have the desired effect?
With the continuous influence of overcapacity and market downturn in recent years, the foreign companies that once entered the LED industry with speculative “impulse†chose to withdraw, and some of them also used the LED business to realize the salty fish turning over. Listed companies frequently cross the border into the LED field, smashing the sand or keeping the cloud open to see the moon? Bet on the LED, is it a game or a scam?
Sapphire substrate: keep the cloud open to see the moon
The main business of Crystal Optoelectronics is mainly precision optical film components, accounting for 90.15% of operating income. But in the field of sapphire substrates, crystal optoelectronics can be said to keep the cloud open to see the moon. Crystal Optoelectronics' sapphire substrate road began in October 2010, and the company plans to invest 3.6 million pieces of high-brightness LED sapphire substrate project. At the peak of the sapphire substrate flat price, the 2-inch sapphire substrate flat was sold for $35.
However, due to the fluctuation of terminal demand in the LED industry and the expansion of production capacity in 2011, the price of long-crystal raw materials for sapphire substrates has dropped sharply, with a drop of more than 50%, and inventory has caused a certain price loss. Affected by this large environment, 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, becoming a new growth point. The annual revenue has reached 49.853 million yuan, a year-on-year increase of 424.13%, and a profit of 2.9 million yuan.
The same is the Tiantong shares in the sapphire substrate business, the days are not so moist, after investing in the sapphire substrate project in August 2011, the business in the whole year of 2012 only brought 50,000 yuan in sales, operating profit The loss was as high as 36.18 million yuan.
In 2012, Tiantong Co., Ltd. realized operating income of 1,130.32 million yuan, a decrease of 227.91 million yuan compared with 135.823 million yuan in the same period of last year, a decrease of 16.78%. The net profit attributable to shareholders of listed companies was -19.694 million yuan, compared with 1210 in the same period of last year. The yuan was reduced by 209.44 million yuan.
However, Tiantong shares did not give up. In April this year, the total amount of funds raised was not expected to exceed 309 million yuan. It is planned to invest 1.15 million pieces of 4-inch LED sapphire substrate material technology transformation project and supplement liquidity. On May 10, Tiantong Co., Ltd. stated at the 2012 annual online performance briefing that in the first quarter of this year, the LED lighting application terminal is growing rapidly, and the market demand growth trend is very obvious.
Epitaxial chip project: investment needs to be cautious
Listed companies that cross the border in the field of epitaxial chips mainly include Fangda Group, Silan Micro, Tongfang, Aoyang Shunchang, and Guangdong Ganhua (formerly “ST Ganhuaâ€).
The investment case of Fangda Group is a failure case of investing in the LED industry. Since 2000, Fangda Group and the Institute of Semiconductors of the Chinese Academy of Sciences and Nanchang University have jointly researched, developed and produced third-generation semiconductor materials represented by gallium nitride (GaN), blue LEDs, white LEDs, blue lasers, LDs, and full-color displays. high-tech products.
With the announcement of the suspension of the operation of Shenyang Fangda Semiconductor Lighting Co., Ltd., a holding subsidiary in June 2012, all LED business of Fangda Group will gradually fade out of the market. According to Fangda Group's announcement, the LED business's loss net profit in 2011 was 17.29 million yuan (hereinafter referred to as yuan), accounting for -17% of Fangda Group's net profit for the year.
In comparison, Silan Micro has deepened its semiconductor and integrated circuit industry. In 2004, it entered the LED field. The wholly-owned subsidiary Hangzhou Silan Mingxin Technology Co., Ltd. ("Slan Mingxin") was established in September 2004. Experienced the peak era of LED chips for display. In 2007, the sales revenue of Silan Mingxin LED device chip was 168 million yuan, a year-on-year increase of 278.54%. In 2008, Silan Mingxin's operating income was 183 million yuan and net profit was 34.15 million yuan. In 2009, Silan Mingxin's sales revenue was 201 million yuan. The net profit was 28.86 million yuan; in 2010, Silan Mingxin's operating income was 393 million yuan and the net profit was 120 million yuan.
Since 2011, LED chips have been unable to escape the fate of falling prices and fierce competition. In 2011, Silan Mingxin achieved operating income of 341 million yuan, a year-on-year decrease of 13.14%, and net profit of 55.03 million yuan, a year-on-year decrease of 54.12%.
Under the background of such an epitaxial chip market, Guangdong Ganhua, which originally operated papermaking business, announced in December 2011 that the company plans to invest 836 million yuan to establish a wholly-owned subsidiary Deli Optoelectronics to invest in Jiangmen National High-tech Industrial Development Zone. The LED epitaxial wafer production project will build 20 epitaxial wafer production lines and supporting chip production lines for MOCVD equipment.
At that time, the Jiangmen municipal government's support for the LED industry was not small - subsidizing 8 million yuan to 12 million yuan for each MOCVD equipment. In 2011, the original “ST Ganhua†lost 195,568,300 yuan. In 2012, Guangdong Ganhua achieved operating income of 469 million yuan and realized net profit attributable to shareholders of listed companies of 47.148 million yuan. However, from the book's point of view, the net profit is 47.148 million yuan. If the non-recurring gains and losses of 7,276,790 yuan (including the government subsidy of 72.832 million yuan), the net profit attributable to the owner of the parent company is -256.91 million. yuan.
In the announcement on the withdrawal of the stock market delisting risk warning, Guangdong Ganhua publicly acknowledged that “2012 annual profit mainly comes from government subsidiesâ€. In the first quarter of this year, Guangdong Ganhua received another 7.3 million yuan from the construction of LED epitaxial chip production project in Jiangmen High-tech Industrial Park.
With the concept of LED, Guangdong Ganhua received government subsidies not a small amount. It is also the government subsidy for these charcoal in the snow. Once the ST Ganhua succeeded in getting rid of the "loss" hat and realized the salted fish turned over.
Like Guangdong Ganhua, as the LED epitaxial chip project received government subsidies, there is also Aoyang Shunchang, its wholly-owned subsidiary Huai'an Aoyang Shunchang Optoelectronic Technology Co., Ltd. was incorporated in August 2011, mainly engaged in epitaxial chip projects. According to the 2012 annual financial report of Aoyang Shunchang, “the government subsidy included in the current profit and loss is 22.10 million yuan, of which the LED project received a one-time government award of 20.49 million yuan during the reporting periodâ€.
The only difference is that the main business of Aoyang Shunchang (metal logistics distribution, micro-loan industry) has been smooth and smooth. In 2012, it achieved revenue of 175,653,300 yuan, down 4.02% year-on-year; net profit was 10,371,200 yuan, a year-on-year increase. 3.72%. Aoyang Shunchang said that operating income and operating profit were lower than expected. For the LED project, the company actively adjusted the construction progress. In 2012, 5 MOCVD equipments were ordered, and 2 units were in place and installed. 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.
On June 4 this year, Aoyang Shunchang issued an announcement to issue no more than 100 million shares at a price of not less than 5.12 yuan per share, and raised no more than 512 million yuan for LED epitaxial wafer and chip industrialization projects. Period) and supplementing liquidity.
LED lighting: the public
Due to the broad market prospects in the future, LED lighting has always been a "seeker". Especially with the gradual recovery of the LED lighting market, the pursuit of LED illuminators launched a more aggressive offensive.
On June 3 this year, Qixi Holdings, which is mainly engaged in computer complete machines and peripheral equipment, mobile communication products, software development and other services, announced that it plans to jointly invest 10 million yuan with natural person Sun Debing to establish Guangzhou Qixi Photoelectric Co., Ltd. Among them, Qixi Holdings plans to invest 5.1 million yuan with its own funds, with a capital contribution ratio of 51%. After the establishment of the new company, it will mainly engage in LED lighting and related products.
TV giant TCL Group recently launched more than 300 new LED lighting products. Li Chunan, executive deputy general manager of TCL Lighting, said at the meeting that TCL believes that the era of LED lighting has arrived when costs are falling, technical conditions are mature, and consumer acceptance is greatly enhanced. Li Chunan said that TCL Lighting will strive to achieve more than 60% of the LED lighting industry within three years, and achieve sales in 40% in 2013 and 60% in two years.
The traditional lighting veterans in the LED lighting battlefield, the passive warriors have it, and the courageous followers have it.
In April this year, Sunshine Lighting announced an annual report on the feasibility report of 60 million sets of LED lighting products, saying that the company plans to invest a total of 480 million yuan with self-raised funds. After the project is put into production, it can realize new sales income of 185.05 million yuan. In 2012, the Sunlight LED business exceeded the annual target, and the revenue of LED lights and lamps was 364 million yuan.
NVC Lighting's LED products revenue in 2012 was 238 million yuan, gross profit was 44.714 million yuan, and gross profit margin was 18%. NVC Lighting will focus on promoting LED products this year, increasing its sales from less than 10% last year to 20%-30%. Steadily occupy the LED market share and achieve the goal of increasing LED revenue to 50% in 2015.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
With the continuous influence of overcapacity and market downturn in recent years, the foreign companies that once entered the LED industry with speculative “impulse†chose to withdraw, and some of them also used the LED business to realize the salty fish turning over. Listed companies frequently cross the border into the LED field, smashing the sand or keeping the cloud open to see the moon? Bet on the LED, is it a game or a scam?
Sapphire substrate: keep the cloud open to see the moon
The main business of Crystal Optoelectronics is mainly precision optical film components, accounting for 90.15% of operating income. But in the field of sapphire substrates, crystal optoelectronics can be said to keep the cloud open to see the moon. Crystal Optoelectronics' sapphire substrate road began in October 2010, and the company plans to invest 3.6 million pieces of high-brightness LED sapphire substrate project. At the peak of the sapphire substrate flat price, the 2-inch sapphire substrate flat was sold for $35.
However, due to the fluctuation of terminal demand in the LED industry and the expansion of production capacity in 2011, the price of long-crystal raw materials for sapphire substrates has dropped sharply, with a drop of more than 50%, and inventory has caused a certain price loss. Affected by this large environment, 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, becoming a new growth point. The annual revenue has reached 49.853 million yuan, a year-on-year increase of 424.13%, and a profit of 2.9 million yuan.
The same is the Tiantong shares in the sapphire substrate business, the days are not so moist, after investing in the sapphire substrate project in August 2011, the business in the whole year of 2012 only brought 50,000 yuan in sales, operating profit The loss was as high as 36.18 million yuan.
In 2012, Tiantong Co., Ltd. realized operating income of 1,130.32 million yuan, a decrease of 227.91 million yuan compared with 135.823 million yuan in the same period of last year, a decrease of 16.78%. The net profit attributable to shareholders of listed companies was -19.694 million yuan, compared with 1210 in the same period of last year. The yuan was reduced by 209.44 million yuan.
However, Tiantong shares did not give up. In April this year, the total amount of funds raised was not expected to exceed 309 million yuan. It is planned to invest 1.15 million pieces of 4-inch LED sapphire substrate material technology transformation project and supplement liquidity. On May 10, Tiantong Co., Ltd. stated at the 2012 annual online performance briefing that in the first quarter of this year, the LED lighting application terminal is growing rapidly, and the market demand growth trend is very obvious.
Epitaxial chip project: investment needs to be cautious
Listed companies that cross the border in the field of epitaxial chips mainly include Fangda Group, Silan Micro, Tongfang, Aoyang Shunchang, and Guangdong Ganhua (formerly “ST Ganhuaâ€).
The investment case of Fangda Group is a failure case of investing in the LED industry. Since 2000, Fangda Group and the Institute of Semiconductors of the Chinese Academy of Sciences and Nanchang University have jointly researched, developed and produced third-generation semiconductor materials represented by gallium nitride (GaN), blue LEDs, white LEDs, blue lasers, LDs, and full-color displays. high-tech products.
With the announcement of the suspension of the operation of Shenyang Fangda Semiconductor Lighting Co., Ltd., a holding subsidiary in June 2012, all LED business of Fangda Group will gradually fade out of the market. According to Fangda Group's announcement, the LED business's loss net profit in 2011 was 17.29 million yuan (hereinafter referred to as yuan), accounting for -17% of Fangda Group's net profit for the year.
In comparison, Silan Micro has deepened its semiconductor and integrated circuit industry. In 2004, it entered the LED field. The wholly-owned subsidiary Hangzhou Silan Mingxin Technology Co., Ltd. ("Slan Mingxin") was established in September 2004. Experienced the peak era of LED chips for display. In 2007, the sales revenue of Silan Mingxin LED device chip was 168 million yuan, a year-on-year increase of 278.54%. In 2008, Silan Mingxin's operating income was 183 million yuan and net profit was 34.15 million yuan. In 2009, Silan Mingxin's sales revenue was 201 million yuan. The net profit was 28.86 million yuan; in 2010, Silan Mingxin's operating income was 393 million yuan and the net profit was 120 million yuan.
Since 2011, LED chips have been unable to escape the fate of falling prices and fierce competition. In 2011, Silan Mingxin achieved operating income of 341 million yuan, a year-on-year decrease of 13.14%, and net profit of 55.03 million yuan, a year-on-year decrease of 54.12%.
Under the background of such an epitaxial chip market, Guangdong Ganhua, which originally operated papermaking business, announced in December 2011 that the company plans to invest 836 million yuan to establish a wholly-owned subsidiary Deli Optoelectronics to invest in Jiangmen National High-tech Industrial Development Zone. The LED epitaxial wafer production project will build 20 epitaxial wafer production lines and supporting chip production lines for MOCVD equipment.
At that time, the Jiangmen municipal government's support for the LED industry was not small - subsidizing 8 million yuan to 12 million yuan for each MOCVD equipment. In 2011, the original “ST Ganhua†lost 195,568,300 yuan. In 2012, Guangdong Ganhua achieved operating income of 469 million yuan and realized net profit attributable to shareholders of listed companies of 47.148 million yuan. However, from the book's point of view, the net profit is 47.148 million yuan. If the non-recurring gains and losses of 7,276,790 yuan (including the government subsidy of 72.832 million yuan), the net profit attributable to the owner of the parent company is -256.91 million. yuan.
In the announcement on the withdrawal of the stock market delisting risk warning, Guangdong Ganhua publicly acknowledged that “2012 annual profit mainly comes from government subsidiesâ€. In the first quarter of this year, Guangdong Ganhua received another 7.3 million yuan from the construction of LED epitaxial chip production project in Jiangmen High-tech Industrial Park.
With the concept of LED, Guangdong Ganhua received government subsidies not a small amount. It is also the government subsidy for these charcoal in the snow. Once the ST Ganhua succeeded in getting rid of the "loss" hat and realized the salted fish turned over.
Like Guangdong Ganhua, as the LED epitaxial chip project received government subsidies, there is also Aoyang Shunchang, its wholly-owned subsidiary Huai'an Aoyang Shunchang Optoelectronic Technology Co., Ltd. was incorporated in August 2011, mainly engaged in epitaxial chip projects. According to the 2012 annual financial report of Aoyang Shunchang, “the government subsidy included in the current profit and loss is 22.10 million yuan, of which the LED project received a one-time government award of 20.49 million yuan during the reporting periodâ€.
The only difference is that the main business of Aoyang Shunchang (metal logistics distribution, micro-loan industry) has been smooth and smooth. In 2012, it achieved revenue of 175,653,300 yuan, down 4.02% year-on-year; net profit was 10,371,200 yuan, a year-on-year increase. 3.72%. Aoyang Shunchang said that operating income and operating profit were lower than expected. For the LED project, the company actively adjusted the construction progress. In 2012, 5 MOCVD equipments were ordered, and 2 units were in place and installed. 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.
On June 4 this year, Aoyang Shunchang issued an announcement to issue no more than 100 million shares at a price of not less than 5.12 yuan per share, and raised no more than 512 million yuan for LED epitaxial wafer and chip industrialization projects. Period) and supplementing liquidity.
LED lighting: the public
Due to the broad market prospects in the future, LED lighting has always been a "seeker". Especially with the gradual recovery of the LED lighting market, the pursuit of LED illuminators launched a more aggressive offensive.
On June 3 this year, Qixi Holdings, which is mainly engaged in computer complete machines and peripheral equipment, mobile communication products, software development and other services, announced that it plans to jointly invest 10 million yuan with natural person Sun Debing to establish Guangzhou Qixi Photoelectric Co., Ltd. Among them, Qixi Holdings plans to invest 5.1 million yuan with its own funds, with a capital contribution ratio of 51%. After the establishment of the new company, it will mainly engage in LED lighting and related products.
TV giant TCL Group recently launched more than 300 new LED lighting products. Li Chunan, executive deputy general manager of TCL Lighting, said at the meeting that TCL believes that the era of LED lighting has arrived when costs are falling, technical conditions are mature, and consumer acceptance is greatly enhanced. Li Chunan said that TCL Lighting will strive to achieve more than 60% of the LED lighting industry within three years, and achieve sales in 40% in 2013 and 60% in two years.
The traditional lighting veterans in the LED lighting battlefield, the passive warriors have it, and the courageous followers have it.
In April this year, Sunshine Lighting announced an annual report on the feasibility report of 60 million sets of LED lighting products, saying that the company plans to invest a total of 480 million yuan with self-raised funds. After the project is put into production, it can realize new sales income of 185.05 million yuan. In 2012, the Sunlight LED business exceeded the annual target, and the revenue of LED lights and lamps was 364 million yuan.
NVC Lighting's LED products revenue in 2012 was 238 million yuan, gross profit was 44.714 million yuan, and gross profit margin was 18%. NVC Lighting will focus on promoting LED products this year, increasing its sales from less than 10% last year to 20%-30%. Steadily occupy the LED market share and achieve the goal of increasing LED revenue to 50% in 2015.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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