LED industry chain concentration has increased the supply and demand pattern has changed

On the first day of construction in 2017, LED chip leader Sanan Optoelectronics issued a price increase letter to the downstream, and some of its products increased by 8%. As the leader of LED chip, Sanan Optoelectronics has raised prices, and it has strongly verified that the overall supply and demand pattern of the LED industry has undergone a fundamental change. Not only is the supply end contracted due to the elimination of backward production capacity, but also the downstream demand side of LEDs is growing steadily, and the profitability is steadily improving. LED chip faucet Sanan, Aoyang and many other LED chip companies have been fully produced since the second half of the year. And Taiwan's chip leading company Jingyuan Optoelectronics said that due to the downstream demand for four-element LED, LED backlight, security monitoring, smart phone flash, and automotive products, it has been fully produced since the end of the second quarter of last year. Therefore, the price increase of Sanan is reasonable, and it is verified that the overall supply and demand pattern of the LED industry is continuously improving. Since 16 years, LED chips and packaging have increased in price successively, marking the end of the LED industry chain reshuffle, and the industry has entered a stable income era from the era of excessive competition. LED upstream chip end after 15 years of shuffling, backward chip production capacity is gradually eliminated, Taiwan's leading crystal power, CREE has shut down 25% of production capacity, Samsung, LG also shut down part of the production capacity, and 16 years of domestic government subsidies began to significantly reduce, domestic The new supply expansion has fallen sharply. At the same time, the downstream domestic ban will increase the demand for LED lighting by 60%, and the small-pitch LED will increase by 28%. Therefore, it can be observed that the price increase of some products of the chip has been 5-10% since 16 years; the price of some products in the package has increased by more than 15%. This time, the LED chip products of Sanan have increased by 8%, once again verifying that the overall supply and demand structure of the LED industry has improved. . The concentration of the LED industry chain has been further improved, the industrial chain pattern has continued to solidify, and the industry leader has benefited in depth. With the further increase of industrial concentration, there will be only 5-10 large-scale enterprises in the domestic LED chip market. At present, the top five chip companies in the industry account for 65% of the revenue; packaging companies are even more so, the number of packaging enterprises From more than 1,500 in 14 years to just over 1,000 in 16 years, the concentration will continue to increase in the future. The concentration of LED industry chain has been continuously improved, and the industrial chain pattern has continued to solidify. LED upstream chip manufacturers are at the core of the LED industry chain, leading listed companies such as Aoyang Shunchang, Sanan Optoelectronics and so on. After the completion of the second phase of this year, Aoyang Shunchang will have a total production capacity of 800,000 pieces per month. At the same time, Mulinsen’s capital increase strategy will be invested in its subsidiaries, which will help Aoyang further consolidate its leading position in LED chips. Sanan Optoelectronics has continuously moved in the near future, completing the second employee stock ownership plan to purchase nearly 91.7 million shares, laying out chip material compound semiconductor, and signing the “Development Financial Cooperation Agreement” with CDB. The company focused on the layout of LED chips and integrated circuits. Overseas mergers and acquisitions and capacity expansion. Leading companies in the midstream LED packaging sector: Mulinsen, Guoxing Optoelectronics, Hongli Zhihui, etc.; Mulinsen encapsulation capital expansion continues, increasing capital of 500 million Australian Ocean, 5.5 billion investment in LED lighting projects, while increasing capital or acquiring a number of lighting companies, and the future After the expansion of the packaging plan, the production capacity can exceed 35,000 KK/month; Guoxing Optoelectronics has expanded its production three times in 12 months, and the small-pitch production capacity has exceeded 800 kk/month, and signed a white light patent licensing agreement with the US GE to lay a solid foundation for further expansion of overseas sales. Foundation; Hongli Zhihui will further deepen the lighting packaging field with its product cost performance. Recently, the employee stock ownership plan and the chairman's shareholding plan will be promoted, demonstrating that the management is stronger and stronger. LED lighting and application leading companies mainly include Foshan Lighting, Sunlight Lighting, etc.; Foshan Lighting's 3 quarterly report surged 281%, Sun Lighting's LED lighting revenue growth rate reached 40% in the first half of 16 years, sales growth rate of 60%, full-year forecast LED lighting can be further increased.

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