Capital increase lighting subsidiary, Ruifeng Optoelectronics "backlight" outside the chess pieces

Automotive LED lighting is becoming a new round of investment focus for domestic LED packaging companies.

Ruifeng Optoelectronics (300241) announced on the evening of June 26 that the company intends to increase the capital of the holding subsidiary Changzhou Lirui Photoelectric Co., Ltd. (hereinafter referred to as “Li Rui Optoelectronics”) by RMB 20.49 million. After the capital increase, the registered capital of Li Rui Optoelectronics is RMB 30 million. Ruifeng Optoelectronics accounted for 70%.

According to the company, the purpose of this foreign investment is: based on the analysis of the automotive industry and automotive LED prospects, combined with the company's own technological advantages and market accumulation in the industry, Ruifeng Optoelectronics wants to increase investment in the automotive electronics market, to achieve Extending the LED-related industry, the company plans to increase the investment of 20.49 million yuan for Larry Optoelectronics for the R&D and manufacturing of automotive LED modules, and accelerate the company's overall layout in the LED application field.

The data shows that Lirui Optoelectronics' 2016 annual revenue is 11.0965 million yuan and net profit is 174,800 yuan. In the first quarter of 2017, revenue was 3.114 million yuan and net profit was 49,000 yuan.

In the past few years, automotive LED lighting has been stuck in taillights, brake lights and interior lighting, instrument panels and other applications. LED headlights are still more in the topic and controversy; nowadays, many loading and even the whole standard The models with LED headlights have been mass-produced.

This also means that the LED automotive lighting market is entering a new development cycle. At present, in the automotive LED business, Ruifeng Optoelectronics has become a global supplier of Osram and Lumileds suppliers (OEM).

In the market, due to the high entry barriers in the field of LED lights, industry insiders have indicated that “the lamps are safety-grade components of automobiles, and the quality requirements of the car manufacturers are very high, and the design cycle is very long.”

There are currently few companies that have the ability to design and manufacture LED automotive headlamps. At present, in the automotive lighting supply chain in mainland China, from devices, modules, to lights, joint ventures and foreign-funded manufacturers all occupy a large market share, mainland Chinese manufacturers can not compete with it.

In the LED lamp industry chain, from the point of view of the lamp, the domestic car lamp pre-installation market is almost occupied by companies outside mainland China such as Philips, Osram, Nichia, and Jingdian (shared in Dominant).

The huge market potential is the basic judgment of more and more enterprises entering the automotive LED market. At the same time, import substitution is also a huge opportunity for domestic packaging companies.

From the past aftermarket, the market has penetrated into the market, and it has become the key strategic layout of domestic LED lighting companies. At the same time, the huge potential demand of the market is also one of the main factors for the company to speed up the layout.

The latest data of the High-tech Research Institute LED Research Institute (GGII) predicts that the industry market scale will grow steadily in the next few years. It is estimated that by 2020, the LED lighting market in China will reach 57.143 billion yuan, compared with 2016. It increased by 14.867 billion yuan, an increase of 35.17%.


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