Since 2016, the LED industry has been in a stage of rapid development. The global LED market has maintained rapid growth mainly from the explosive growth of indoor general lighting, architectural lighting, landscape lighting, backlights and outdoor LED large screens. In 2018, with the continuous improvement of LED prosperity, the profitability of listed companies in the LED industry ushered in a full recovery, and the industry's inflection point has now emerged. In the next 3-5 years, with the maturity of technology and the decline of costs, the market penetration of LED in the field of general lighting will further increase, and the continued expansion of applications such as automotive lighting and small-pitch LED display is expected to usher in a new LED industry. Round broke. Industry insiders believe that the rapid growth of the industry will drive the rise in demand for the entire LED industry chain from production to manufacturing to packaging. Enterprises that actively deploy the entire LED industry chain, such as Hongli Zhihui, DHL Runda, Mulinsen, Zhaochi Energy Saving, etc. will win More market dividends.
The core financial data of the LED industry has improved significantly, and the industry trend has been solid and reliable
Judging from the 2017 annual report and the 2018 first quarter report of major companies in the LED industry, the core financial indicators of listed companies all show a clear improvement trend. The core indicators include ROE, revenue scale and growth rate, net profit and growth rate of the mother, gross profit margin , Net profit and operating cash flow. The core financial data of the LED industry has improved significantly, verifying that the LED industry trend is solid and reliable.
Among them, Alto Electronics, Dehao Runda, Guangdong Ganhua three listed companies 1Q18 net profit growth rate exceeded 100%. Mulinsen and Hongli Zhihui's net profit growth ranged from 0% to 100%.
In the first quarter of 2018, Alto Electronics achieved a total operating income of 410 million yuan, an increase of 172.76% year-on-year, mainly due to an increase of 192.02% year-on-year in the revenue of LED applications.
DHL Runda achieved total operating income of 870 million yuan in the first quarter of 2018, an increase of 2.80% year-on-year; net profit attributable to shareholders of listed companies was 3,047,700 yuan, an increase of 103.47% year-on-year, mainly due to an increase in operating profit during the reporting period. The current pre-earnings in the first half are considerable.
In response to intensified competition strategy to seize the commanding heights, LED companies have arranged the development of the entire industry chain
In addition to the increase in profit revenue, DHL Runda, Hongli Zhihui, Mulinsen, etc. are also actively planning the expansion of the entire industry chain.
DHL Runda started to enter the LED industry in 2009, through the acquisition and integration of companies in Guangdong Jianlongda, NVC Lighting and other industries, as well as the establishment of LED research and development bases through self-owned funds, bank loans and non-public offerings. , Forming the whole LED industry chain business structure of "epitaxy and chip-package and module-LED application products (lighting and display)-brand and channel".
The company's management said that DHL Runda will continue to strengthen its technology research and development capabilities, develop more new products based on the technical characteristics of LEDs, and lead the market consumption with new products; on the premise of ensuring product quality, strengthen cost control and product innovation to enhance The comprehensive competitiveness of products; continue to use the advantages of the entire industry chain, technology and NVC channels, while constantly optimizing the marketing system and improving marketing capabilities, to further enhance the market share of products.
Mullinson is also constantly strengthening the supporting capacity of the entire industry chain. Upstream strategic alliance LED chip leading companies, including Aoyang, Huacan, Jingdian, etc., ensure the safety of chip supply, and increase technical investment in IC packaging and intelligent manufacturing production centers. The downstream continued to vigorously expand the lighting industry and accelerate the completion of the implementation of lighting facilities and sales network layout in Yiwu and Xinyu.
Ping An Securities said that in 2017, the output value of LED downstream applications in mainland China reached 531 billion yuan, with a compound growth rate of 18.8% in the next three years, and the LED value chain in the future will gradually shift to the downstream. With the continuous development and maturity of LED technology, market competition has entered a fierce stage, and major LED companies have adjusted their strategies in an effort to gain a commanding height. "Everyone is big, the strong is strong, and the fittest is the best" in the LED industry. The intensification of competition has allowed companies to continue to think about their own positioning. In addition to consolidating their competitive position in the LED market, they also actively extend the industrial chain and accelerate the integration of resources, striving to achieve the optimization of the upstream and downstream industrial chain has become a new development trend!
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