The Performance of the LED Industry Chain Appear Differentiation In 2013

 
With the LED industry listing Corporation announced the 2013 annual report, the LED industry chain can be clearly demonstratedin last year's operating status. Statistics to know, in 2013 the entireLED industry production and sales volume, but performance division: upstream and downstream enterprises in income does not increase profits dilemma, middle packaging enterprises in theincome growth at the same time, the profit is improved.

"The 2013 LED firm performance is indeed exceeded expectations",Zheng Liyao, vice president of Engineering LED Industry Research Institute said.

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LED chip production capacity 3 years expanded 10 times improved demand does not change the price decline

2010~2012 the past 3 years, the LED chip production capacity expansion of more than 10 times; directly associated with thecapacity of the big bang, is a substantial decline in LED chip pricesover the same period, the cumulative decline in more than 50%LED chip, which makes enterprises suffer unspeakably.

However, in the downstream lighting applications market demand,rate rising to 52% by 2013 MOCVD production capacity, operating rate rose to about 70%, and some enterprises even to achieve full production. Even so, the enterprise to the feedback information is still conservative, that chip prices may also slowly down.

The chip manufacturer mad price war

In the upstream of LED, there are three optical, BDO, Huacan photoelectric, and changelight and many other LED chipmanufacturing enterprises. In addition to optoelectronics, the otherthree companies have announced the 2013 annual report orperformance.

Huacan photoelectric performance express display, the company in 2013 operating income 316000000 yuan, glide compared to the same period 4.19%, net profit attributable to shareholders of the listing Corporation for 18064000 yuan, down 79.32% year-on-year;changelight 2013 total operating income of 487000000 yuan, grow 29.38% compared to the same period, but net profit fell 1.17%;BDO performance express display, in 2013 the company total operating income of 3117000000 yuan, an increase of 13.04%, net profit of 9363600 yuan, the decline in the rate of 94.22%.

"2013 is the exciting year, due to the rapid development of lighting industry, drive the downstream capacity into full play, also make overcapacity slowed. 2013 is the industry is very anxious for a year,although many orders, revenue growth, but due to the price war,causes the enterprise gross margin is more and more low." At the beginning of this year, at an industry forum, Zhang Xiaofei Dean of Engineering LED Industry Research Institute is expressed.

LED industry price war, first from the upstream chip began.Statistical data of Engineering LED Industry Research Instituteshows, 2012 China LED chip prices than at the beginning of the year declined by more than 30%, continued to fall in 2013 20%.

"2012 chip price range is very big, such as (individual type chip) ata piece of money, and at the end of the year had only one hair fiveto twenty cents." BDO stakeholders told example.

LED chip price war, is the inevitable product of excess capacity.

Statistical data from the high LED Industry Research Institute, 2012Chinese LED industry MOCVD retains the quantity increase from 803 units in 2011 to 917 in 2010, close to 3 times, the total capacityis more than 10 times the number in 2010. In 2013 MOCVD totalquantity to increase to 1017 units, eliminate the old machine from the initiative factors, in 2013 more than 130 new MOCVD.

Focus on the release of large capacity, bringing enormous pressure to the LED chip companies. Provides high LED Industry Research Institute data show that in 2012, China MOCVD capacity utilization rate is only about 30%, the boot only about 50% rate.

Underemployment, machinery depreciation loss huge brought heavy pressure to the enterprise management. Such as Huacan photoelectric 2013 semi annual report shows, the company during the report period, the gross margin of -5.27% chip, until the three quarter of 2013 chip company wool interest rate is positive.

Capacity expansion continues

However, in the downstream lighting applications market demand,rate rising to 52% by 2013 MOCVD production capacity, operating rate rose to about 70%. At the end of 3 this year, from an optoelectronic and BDO aspects to understand, the formerMOCVD equipment is full; the latter 54 MOCVD equipment has production, Wuhu and Yangzhou two base the MOCVD equipment a total of 92 units.

Sanan optoelectronics relevant personage says, chip prices may also slow down, or to decide according to the company's technicalprogress.
Notably, the upper reaches of the expansion impulse not digestionas prices fall. Sanan optoelectronics April 3rd announcement, the company decided to set up R & D and manufacturing industry project investment and construction of LED epitaxial, chip wholly owned subsidiary in Xiamen. Projects a total investment of 10000000000 yuan, the total size of 200 MOCVD
In January this year, Huacan photoelectric release announcement,the company intends to its own funds 305000000 yuan, launched the "Huacan photoelectric (Suzhou) Construction Co. Ltd. LED wafer and chip two project", the project plans to form an annual output of 480000 pieces of 2 inch red yellow LED epitaxial wafer(occupied) and red yellow light chip production capacity.

Then, in the upstream capacity has not been fully digestedbackground, enterprise expanding again, will trigger a new round ofcrisis?

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