In the first half of 2016, the results announcement has come to an end. Gaogong LED has read the first half of the performance report of major domestic LED listed companies. As a new generation of lighting technology, LED has established its mainstream position in the lighting industry.
At the same time, in the LED lighting industry, the popularization and integration of the two major melody "Qifei" led to the differentiation of the performance of LED listed companies.
In fact, the horizontal and vertical integration of the current industrial chain represented by mergers and acquisitions is beginning to become the norm, and the integration speed is further accelerated.
GGII statistics show that in 2015, China's LED industry mergers and acquisitions amounted to 42 billion yuan, 53 mergers and acquisitions. The number of large-scale mergers and acquisitions has increased significantly, with 39 cases of over 100 million mergers and acquisitions, accounting for 73.6%.
Among them, in 2015, China's LED industry cross-border M&A 6 times, and the amount of M&A was 22.8 billion yuan, showing a further enlargement trend. Industry M&A is still at its peak, and it is expected that there will be a wave of industry mergers and acquisitions in 2016-2017.
Zhang Xiaofei, chairman of the High-Technology Research Institute, said, “As the LED lighting industry gradually matures, the difficulty of corporate financing is gradually increasing, and the attention of the capital market to the LED industry is also rapidly declining. For example, taking the current new three-board enterprises as an example. Their financing ability is actually not good. The reason is that the entire capital market does not pay enough attention to small and medium-sized enterprises in the LED industry. Therefore, the next step is to absorb some very good companies, and the future is still to be further integrated."
So what is the pattern of LED industry integration? I believe many people are not clear.
Will the upstream integrate downstream?
In the field of upstream LED chips, Sanan Optoelectronics, Huacan Optoelectronics, and Dehao Runda continue to expand their market share, and the industry concentration continues to increase.
Due to increased production efficiency and increased competition, the price of domestic LED chips has dropped sharply, which has turned many small LED chip factories into “zombie†enterprises. The three leading companies have also undergone transformation and resource integration.
Midstream up, down or horizontal integration?
In the midstream, LED packaging companies are also busy integrating.
Hongli Zhihui expanded the scale of LED packaging capacity and increased market expansion to promote the effective release of production capacity and achieve steady growth in performance. In addition, the business will be extended to the car networking industry, and in the future, efforts will be made to build a dual-mainframe architecture for LED+ car networking.
Mulinsen is not idle, the sales scale has expanded rapidly, and it is actively expanding into the downstream lighting products field. Recently, the successful participation in the acquisition of Osram has caused an uproar in the industry.
Obviously, the situation of the Evergrande in the middle of the LED package has already emerged.
Downstream integration or down integration?
With the popularity of LED lights, the LED lighting market is still growing, and the survival of the fittest is accelerating, and the integration intentions of various companies are becoming more and more obvious.
International lighting giants Philips, Osram, GE, and Toshiba gradually dismantled or sold lighting business. Chinese companies began to participate in the acquisition of international lighting companies. For example, Guangsheng Group acquired a 13.47% stake in Foshan Lighting held by Osram, and Fei Le Audio acquired Xi Wannian. 80% of the group's equity, which gives Chinese lighting brands the opportunity to enter the international market.
In addition, there is another application field downstream of the LED display, which is also the strong one.
According to data from the High-tech LED Research Institute, more than 20% of the approximately 5,000 LED-related companies have withdrawn from the market in 2015. In 2016, the tide of mergers and acquisitions and the collapse of the LED industry continued to be staged. If you want to know how to integrate the LED industry this year, then please refer to the High-tech Industry Business Research Institute - Executive Training Seminar!
The High-tech Industry Business Research Institute--the executive management class is different from the MBA, EMA, and the internal business school. It only teaches broad theoretical knowledge. Feige personally “fencing†to provide targeted and directed counseling and guidance for students. Inter-industry chain cooperation opportunities. The "Industry Analysis and Diagnosis of LED Industry" intensive course starts from August 25th to August 27th. You are welcome to join.
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