According to the statistics of the High-tech Research Institute LED Research Institute (GGII), China's LED industry continued to grow rapidly in 2011-2014. In 2015, the industry growth rate slowed down for the first time. The total output value of China's LED industry was 396.7 billion. Yuan (excluding China, Hong Kong, Macao and Taiwan), an increase of 15.1% year-on-year, and the growth rate was down 15.5 percentage points from 2014. Among them, the upstream chip output value is 13 billion yuan, the midstream package output value is 64.2 billion yuan, and the downstream application output value is 319.5 billion yuan.
In 2015, it was a very difficult year for most LED companies. Affected by exchange rate fluctuations in the international market, China's LED lighting export growth rate has slowed down at the end of 2014. In 2015, due to the low global economic climate, China's LED lighting demand is weak, despite the rising demand in May-July. However, oversupply and market competition in the first half of the year led to a general decline in the price of the LED industry chain by 30-50%, and the price of international corporate products also fell by more than 20%. Affected by the slowdown in demand and increased competition, GGII expects more than 20% of the total number of LED related companies to withdraw from the market.
In 2015, the integration of M&A in China's LED industry intensified. According to incomplete statistics, from January to November 2015, China's LED industry mergers and acquisitions amounted to 40.8 billion yuan, and 53 mergers and acquisitions. Among them, the number of large-scale mergers and acquisitions increased significantly, and the number of mergers and acquisitions exceeded 39 million, accounting for 73.6%. In addition, there were 6 cross-border mergers and acquisitions in China's LED industry, and the amount of mergers and acquisitions reached 22.8 billion yuan, accounting for 55.9%.
At the same time, the listing of the New Third Board for capital outsourcing has also become the choice of many small and medium-sized enterprises. From January to November 2015, 43 new LED-related companies have been applied for and listed, and 9 companies are pending listing and pending review, of which 63% are listed. The company is an LED application company.
In 2015, China's LED industry, especially in the midstream packaging and downstream application industries, experienced major changes in the competitive landscape. The downstream expansion of packaging companies and mergers and acquisitions, downstream, especially in the field of lighting, traditional lighting manufacturers rely on their channel and brand advantages, LED lighting business has achieved rapid development.
In 2015, China's top 25 LED industry companies have undergone major changes. The mergers and acquisitions of enterprises and the business transfer of traditional lighting companies have caused major changes in the LED business revenue of many enterprises. The High-tech Research Institute LED Research Institute (GGII) has conducted an in-depth investigation of all aspects of the domestic LED industry chain, and selected the top 25 LED industry companies in China through the company's revenue scale and development potential.
Judging from the results of the selection, there are 4 enterprises with LED chips as the main industry, 7 enterprises with LED packaging as the main industry, and 8 enterprises with LED lighting as the main industry, with LED display as the main industry. There are 6 companies. Among them, due to the shift of traditional lighting business, the scale of LED lighting has increased rapidly, and the rankings of LED lighting companies have generally increased. Among them, Op Lighting and Foshan Lighting have increased by 13 places.
Data range description:
Enterprise scope: Select LED manufacturers produced in China as the ranking target, and lighting or engineering-based enterprises do not participate in the selection.
Data range: Select the scale of LED business revenue in 2015 as the reference basis for ranking.
2015 China's top 25 LED industry companies
1. Sanan Optoelectronics
Sanan Optoelectronics Co., Ltd. (600703.SH) was established in 2000 with a registered capital of 2.39 billion yuan. It is the earliest and largest-scale full-color ultra-high brightness LED epitaxial and chip industrial production base in China.
In the first three quarters of 2015, the company achieved revenue of 3.6 billion yuan, a year-on-year increase of 3.55%. In 2015, the company plans to add 100 MOCVD equipment. In the first half of the year, it has reached 32 units.
GGII believes that Sanan Optoelectronics is the most complete LED enterprise in the domestic industrial chain. Its chips have high production competitiveness in the domestic market with high cost performance, and its market position will be further improved in the future.
2, Mulinsen
Established in 1997 with a registered capital of 445 million yuan, Mu Linsen Co., Ltd. (002745.SZ) is a leading integrated photovoltaic new technology industry company integrating LED packaging and LED application products. At present, it has two production bases in Xiaolan, Zhongshan and Ji'an, Jiangxi.
In terms of LED packaging devices, the company is the largest domestic production capacity company. The company currently has an annual production capacity of 166.9 billion Lamp/SMD LED package devices.
In terms of LED lighting, in the past two years, the company has continuously increased channel construction and brand building, and its lighting business has developed rapidly.
In the first three quarters of 2015, the company achieved revenue of 2.89 billion yuan, a year-on-year increase of 4.24%.
GGII believes that the successful listing of Mulinsen will definitely bring about a further increase in the concentration of China's LED packaging industry. The scale effect and cost control model will also become the only way for the future of China's LED packaging enterprises.
3, sunshine lighting
Zhejiang Sunshine Lighting Electric Group Co., Ltd. (600261.SH) was established in 1957. It was formerly known as Shangyu Bulb Factory. It is a domestic old lighting company. It is currently engaged in fluorescent lamps, LED lighting, electronic energy-saving lamps and special lighting products. In 2011, the company gradually shifted its business focus to LED lighting. At present, LED lighting products are mainly LED bulbs, fluorescent tubes, spotlights, downlights, etc.
The company is one of the largest energy-saving lamp manufacturers in China and a representative enterprise for the transformation of traditional lighting to LED lighting. In the first three quarters of 2015, the company's operating income reached 3.13 billion yuan, an increase of 29.7%, and LED lighting revenue accounted for 70%.
GGII believes that the sunshine lighting channel has obvious advantages and has a large competitive advantage in the future LED lighting market. The company has become a leading enterprise in the Chinese LED lighting market.
4, Op Lighting
Founded in 1996, Op Lighting is one of the most important traditional lighting companies in China. Currently, it specializes in traditional lighting, LED lighting products and electrical and electronic products. It now has several production bases including Shanghai Headquarters, Zhongshan Industrial Park and Wujiang Industrial Park. .
Op Lighting is the leading brand of domestic home lighting, and the ceiling lamp is the company's superior product. The company now has 31 offices in China and has more than 38,000 sales outlets in various channels.
GGII research shows that Op Lighting has come to the fore in the LED lighting field. In just three years, the company's LED lighting revenue ratio has rapidly increased from less than 2% at the end of 2012 to around 70% in 2015, quickly surpassing most LED lighting companies to become Chinese LEDs. Leading company in the lighting market.
5, Dehao Runda
Guangdong Dehao Runda Electric Co., Ltd. (002005.SZ) was established in 1996. In 2009, it entered the LED industry through the acquisition of LED assets of Guangdong Jianlongda. At present, the company has completed the nationwide industrial layout and formed an integrated industrial structure with upstream epitaxial wafers, chips, midstream packaging, downstream lighting, display screens, backlights and other applications.
In the first three quarters of 2015, the company achieved revenue of 3.35 billion yuan, a year-on-year increase of 6.74%, of which LED business revenue was about 1.6 billion yuan. It is estimated that the company's LED business revenue will exceed 2 billion yuan.
GGII believes that Dehao thoroughly controls NVC and integrates resources with each other. Both parties will achieve the effect of “1+1>2†and will enter the stage of rapid development in the future.
6, Sanxiong Aurora
Founded in 1991, Guangdong Sanxiong Aurora Lighting Co., Ltd. is one of the most important traditional lighting companies in China. The company is headquartered in Guangzhou, and has five production bases in Guangzhou, Zhaoqing and Chongqing. It currently specializes in traditional lighting products, LED lighting products and electrical products. The company's products are mainly used in large shopping malls, star-rated hotels, high-end office buildings, schools, hospitals, factories, airports, high-speed rail, subway and other places.
The company has a sound sales network and service system. It has established permanent offices in more than 50 large and medium-sized cities in China and opened more than 3,000 specialty stores.
GGII research shows that in 2015, Sanxiong Aurora LED revenue is expected to reach about 1.3 billion yuan, accounting for 65% of the company's total revenue.
GGII believes that, in terms of technology and market channels, Sanxiong Aurora has obvious advantages due to its years of accumulation and precipitation. In the future, the company will become a star enterprise in the field of LED lighting.
7. Rieter letter
Lidaxin Green Lighting Co., Ltd. was established in 2000. The company is mainly engaged in electronic energy-saving lamps, LED lamps and other products. Rieter, Heidexin and Lilai are the three independent lighting brands. The company's LED lighting products include indoor lighting and outdoor lighting, of which indoor lighting is mainly LED bulbs.
GGII research shows that Rieter is the largest OEM of LED bulbs in China, with an average monthly shipment of 25 million. The products are mainly exported to Europe and the United States and other countries or regions.
8, Guoxing Optoelectronics
Foshan Guoxing Optoelectronics Co., Ltd. (002449.SZ) was established in 1969. Since 1976, it has been involved in LED packaging. It is a key high-tech enterprise of the National Torch Program specializing in R&D, production and sales of LED and LED application products. , Guangdong Province, an excellent high-tech enterprise.
Guoxing Optoelectronics has a large market share in the LED display market and maintains its leading domestic technology advantages. At the same time, the series of small high-voltage white LED devices, high-efficiency LED filaments and series COB products developed by the company have also been well developed.
In the first three quarters of 2015, the company achieved revenue of 1.33 billion yuan, a year-on-year increase of 16.84%.
9, Tongfang shares
Huatongfang Co., Ltd. (600100.SH) was established in 1997 and officially entered the LED industry in 2008. At present, it has formed a complete industrial chain from materials, epitaxial chips, chips, packaging, optical design and application. At present, the company has deployed four production bases in Beijing, Jiangsu, Guangzhou and Zhejiang.
In terms of upstream epitaxial chips, the company relied on the scientific research strength of Tsinghua University and combined with the Chinese Academy of Sciences and some Taiwan R&D teams to successfully master the key technologies of the chip and apply for nearly 100 domestic and foreign patents. The company's small and medium-sized chips have been recognized by major packaging manufacturers, and its chip production value is second only to Sanan.
GGII believes that Tongfang's shares involve a large number of business areas, LED business revenue accounted for less than 10%, and there is much room for growth in the future.
10. Liard
Liard Optoelectronics Co., Ltd. (300296.SZ) was established in 1995 and successfully listed on the Shenzhen Stock Exchange in March 2012 with a registered capital of 733 million yuan.
Liard is mainly engaged in LED display related products and LED lighting. It is in a dominant position in the competition of large, medium and high-end LED application projects, especially in the field of LED small-pitch TV products.
In the first three quarters of 2015, the company achieved revenue of 723 million yuan, a year-on-year increase of 64.3%. Among them, LED small-pitch TV signed an order of 525 million yuan, achieving sales revenue of 315 million yuan, an increase of 172.89%, the company's small-pitch TV operating income accounted for 43.56% of the main business income, has become the business income of the four business segments The first in the ratio.
GGII research shows that Liard has an unparalleled advantage in product technology and brand marketing. With the company's strong brand influence, continuous technology accumulation and nationwide network layout, Liard will maintain rapid growth in the display field. .
11, Foshan Lighting
Founded in 1958, Foshan Electric Lighting Co., Ltd. (000541.SZ) is a large-scale backbone enterprise in the national electric light source industry. Foshan lighting LED lighting products are mainly indoor lighting products, including bulbs and lamps.
In the first three quarters of 2015, the company achieved operating income of 2.23 billion yuan, a year-on-year decrease of 5.25%, of which LED lighting products revenue was about 1.15 billion yuan, and the company's LED lighting products accounted for more than 50%.
12, NVC lighting
Founded in 1998, NVC Lighting (02222.HK) is one of the most famous lighting brands in China, specializing in traditional lighting, LED lighting and related electrical products.
In the first three quarters of 2015, the company achieved revenue of 1.77 billion yuan, a year-on-year increase of 4.1%, of which LED business income was 604 million yuan, an increase of 18%, and its LED business accounted for 34%.
As one of the major traditional lighting companies in China, NVC has a significant channel advantage. However, due to the internal turmoil of the company, the company's performance growth has been greatly affected in the past two years. Compared with the same industry, its LED business is growing slowly. The business structure is still dominated by traditional lighting.
13, Hongli Optoelectronics
Guangzhou Hongli Optoelectronics Co., Ltd. (300219.SZ) was established in 2004 with a capital of 246 million yuan. It has more than 100,000 square meters of industrial parks and nearly 50,000 square meters of production workshops. It is the leading white light encapsulation enterprise for LED lighting. one.
In the first three quarters of 2015, the company achieved revenue of 1.13 billion yuan, a year-on-year increase of 65.24%.
GGII research shows that the company's monthly packaging capacity exceeds 1500 KK. In recent years, on the basis of expanding its own production capacity, the company has actively sought the cooperation of the Internet and the Internet of Vehicles. In the future, the company will gradually establish an ecological platform for LED main business + Internet finance + vehicle networking.
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