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[Source: "High-tech LED Research Review" August issue of the ancient month]
When a single product can not meet the rapid development of enterprises and high profit returns, diversified development is often its inevitable choice.
As the top two companies in the domestic LED display chip market share, Huacan Optoelectronics (300323.SZ) and Silan Mingxin have faced double-clicks on the rapid decline in product prices and the high pressure of competitor Sanan Optoelectronics. The eyes turned to the LED lighting field with a larger market capacity, and chose LED lighting chips as the next Nuggets.
"At the end of this year, Huacan Optoelectronics' LED chip revenue will reach half of the company's revenue." Wang Deceng, sales director of Huacan Optoelectronics, told the reporter of "High-tech LED" that this is not an exaggeration. At present, one-third of the company's MOCVD is used to produce white light chips, and there are plans to expand production in the second half of this year.
As early as February of this year, Silan Mingxin ordered six MOCVD equipment. The relevant person in charge of the company said that the above equipment order is beneficial to further enhance the production capacity of the company's LED epitaxial wafer. Jiang Zhongyong, general manager of Silan Mingxin, revealed that the six MOCVDs are mainly for the production of white light chips. “The equipment is now fully available and is being commissioned for installation.â€
Obviously, faced with the pressure of the bottleneck of the display chip market, the display chip companies represented by Huacan Optoelectronics and Silan Mingxin are counting on the growth of the performance of the lighting chips to help them through the current difficulties and complete the chip business. Transformation.
Multi-party pinch
Recently, the performance of the 2012 semi-annual report released by Silan Micro (600460.SH) (Slan Mingxin Parent Company) and Huacan Optoelectronics has caused investors to stun.
According to the semi-annual report data, during the reporting period, Huacan Optoelectronics realized operating income of approximately 188 million yuan, a year-on-year decrease of 17.97%; total profit reached approximately 43.64 million yuan, a year-on-year decrease of 39.25%; net profit attributable to shareholders of listed companies was approximately 37.09 million yuan. , a year-on-year decrease of 39.40%.
Since then, Silan Micro released its 2012 semi-annual report, showing that the company's LED revenue was 87.98 million yuan, a year-on-year decrease of 53.56%, and operating profit was 3.78 million yuan, a year-on-year decrease of 68.28%.
For the decline in LED performance, the two listed companies gave a nearly unanimous explanation: due to the intensification of market competition, the unit price of chip sales fell more than expected, while the capacity of the company's expansion was not fully formed and released during the same period, resulting in the first half of the year. Sales revenue and gross profit declined, and profits were significantly lower than the same period last year.
"The price of display chips has dropped too fast this year." Wang Depeng said that although the company's LED chip sales increased by about 50% year-on-year, the price of chips dropped by more than 50% compared with last year, which greatly affected the company's sales revenue. And profitability.
In this regard, LED display manufacturer Rui Tuo Optoelectronics Chairman Shi Yaozhong pointed out that the LED chip accounted for 60%-70% of the display cost in the previous two years, and this year has dropped to 20%-30%, the speed is staggering.
"The price of the display chip has almost no room to fall." In Wang Depeng's view, Huacan Optoelectronics has already prepared for the fierce price war in the next two years.
Even so, foreign-funded enterprises represented by Nichia and CREE are still more than twice as expensive as domestic companies. “Generally, domestic big customers and foreign customers specify their products.†Shi Yaozhong said that the high-end display chip market still has a lot of room for development.
"The reason why the current domestic and imported chip prices have such a big difference is mainly because the growth environment of the two is different." Wang Depeng pointed out that CREE and Philip lumileds are rooted in the European and American markets and serve high-end customers such as GE and Philips. Domestic chip companies mainly serve domestic customers, and the requirements are relatively low.
"On the other hand, the technical level of domestic enterprises is still somewhat behind them." Wang Depeng acknowledged the gap, but he also said that in so many industries, the LED industry is the smallest gap with foreign technology, and will continue to grow in the future. small.
According to data from the High-Tech LED Industry Research Institute (GLII), the import rate of blue-green LED chips for LED displays in China was 42% before 2010, and by 2011, the import rate had dropped to 37%, and the localization rate reached 63%. The main reason is that the production and quality of domestic blue-green optical chips can basically meet the demand of LED display screens, and this localization ratio is still increasing year by year.
At the same time, since the end of last year, Sanan Optoelectronics's sudden emergence in the domestic display chip market is also worthy of attention. Recently, a number of display device packaging companies responsible for the "High-tech LED" revealed that they have begun to purchase a large number of Sanan Optoelectronics chips this year. "Sanan Optoelectronics' chip price is lower. If the chip brightness is not high, it is a better choice."
In this regard, Wang Depeng and Jiang Zhongyong both admitted that the two companies in the first half of this year were indeed threatened by Sanan Optoelectronics.
Table 1: Comparison of LED revenues between Huacan Optoelectronics and Silan Micro for three years (unit: 100 million yuan)
When a single product can not meet the rapid development of enterprises and high profit returns, diversified development is often its inevitable choice.
As the top two companies in the domestic LED display chip market share, Huacan Optoelectronics (300323.SZ) and Silan Mingxin have faced double-clicks on the rapid decline in product prices and the high pressure of competitor Sanan Optoelectronics. The eyes turned to the LED lighting field with a larger market capacity, and chose LED lighting chips as the next Nuggets.
"At the end of this year, Huacan Optoelectronics' LED chip revenue will reach half of the company's revenue." Wang Deceng, sales director of Huacan Optoelectronics, told the reporter of "High-tech LED" that this is not an exaggeration. At present, one-third of the company's MOCVD is used to produce white light chips, and there are plans to expand production in the second half of this year.
As early as February of this year, Silan Mingxin ordered six MOCVD equipment. The relevant person in charge of the company said that the above equipment order is beneficial to further enhance the production capacity of the company's LED epitaxial wafer. Jiang Zhongyong, general manager of Silan Mingxin, revealed that the six MOCVDs are mainly for the production of white light chips. “The equipment is now fully available and is being commissioned for installation.â€
Obviously, faced with the pressure of the bottleneck of the display chip market, the display chip companies represented by Huacan Optoelectronics and Silan Mingxin are counting on the growth of the performance of the lighting chips to help them through the current difficulties and complete the chip business. Transformation.
Multi-party pinch
Recently, the performance of the 2012 semi-annual report released by Silan Micro (600460.SH) (Slan Mingxin Parent Company) and Huacan Optoelectronics has caused investors to stun.
According to the semi-annual report data, during the reporting period, Huacan Optoelectronics realized operating income of approximately 188 million yuan, a year-on-year decrease of 17.97%; total profit reached approximately 43.64 million yuan, a year-on-year decrease of 39.25%; net profit attributable to shareholders of listed companies was approximately 37.09 million yuan. , a year-on-year decrease of 39.40%.
Since then, Silan Micro released its 2012 semi-annual report, showing that the company's LED revenue was 87.98 million yuan, a year-on-year decrease of 53.56%, and operating profit was 3.78 million yuan, a year-on-year decrease of 68.28%.
For the decline in LED performance, the two listed companies gave a nearly unanimous explanation: due to the intensification of market competition, the unit price of chip sales fell more than expected, while the capacity of the company's expansion was not fully formed and released during the same period, resulting in the first half of the year. Sales revenue and gross profit declined, and profits were significantly lower than the same period last year.
"The price of display chips has dropped too fast this year." Wang Depeng said that although the company's LED chip sales increased by about 50% year-on-year, the price of chips dropped by more than 50% compared with last year, which greatly affected the company's sales revenue. And profitability.
In this regard, LED display manufacturer Rui Tuo Optoelectronics Chairman Shi Yaozhong pointed out that the LED chip accounted for 60%-70% of the display cost in the previous two years, and this year has dropped to 20%-30%, the speed is staggering.
"The price of the display chip has almost no room to fall." In Wang Depeng's view, Huacan Optoelectronics has already prepared for the fierce price war in the next two years.
Even so, foreign-funded enterprises represented by Nichia and CREE are still more than twice as expensive as domestic companies. “Generally, domestic big customers and foreign customers specify their products.†Shi Yaozhong said that the high-end display chip market still has a lot of room for development.
"The reason why the current domestic and imported chip prices have such a big difference is mainly because the growth environment of the two is different." Wang Depeng pointed out that CREE and Philip lumileds are rooted in the European and American markets and serve high-end customers such as GE and Philips. Domestic chip companies mainly serve domestic customers, and the requirements are relatively low.
"On the other hand, the technical level of domestic enterprises is still somewhat behind them." Wang Depeng acknowledged the gap, but he also said that in so many industries, the LED industry is the smallest gap with foreign technology, and will continue to grow in the future. small.
According to data from the High-Tech LED Industry Research Institute (GLII), the import rate of blue-green LED chips for LED displays in China was 42% before 2010, and by 2011, the import rate had dropped to 37%, and the localization rate reached 63%. The main reason is that the production and quality of domestic blue-green optical chips can basically meet the demand of LED display screens, and this localization ratio is still increasing year by year.
At the same time, since the end of last year, Sanan Optoelectronics's sudden emergence in the domestic display chip market is also worthy of attention. Recently, a number of display device packaging companies responsible for the "High-tech LED" revealed that they have begun to purchase a large number of Sanan Optoelectronics chips this year. "Sanan Optoelectronics' chip price is lower. If the chip brightness is not high, it is a better choice."
In this regard, Wang Depeng and Jiang Zhongyong both admitted that the two companies in the first half of this year were indeed threatened by Sanan Optoelectronics.
Table 1: Comparison of LED revenues between Huacan Optoelectronics and Silan Micro for three years (unit: 100 million yuan)
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