Among the many companies in the LED industry chain, which listed company will become the next Sanan Optoelectronics, and then write the legend of continuous rise? According to the company's products and technological development potential and other indicators, the author selected six LED concept stocks worth investing for investors' reference.
Tianfu Thermal Power (600509): Layout of silicon carbide epitaxial wafers Tianfu Thermal Power's main business is the production and supply of electricity and heat, occupying a high market share in power supply and heating in Shihezi City, Xinjiang.
In addition to the traditional business, the company has been vigorously deploying new technology industries in recent years, mainly including high-tech projects such as silicon carbide (SiC) epitaxial wafer projects, carbon-based materials projects, and bio-process pyruvic acid projects.
Silicon carbide (SiC) epitaxial wafers are one of the core components for the manufacture of LEDs. The biggest market for LEDs is in the field of general lighting, but its current application in this field is less than 1%. As the LED meets the trend of low-carbon economy, it is strongly promoted by the national industrial policy, and it is expected to gradually enter the general lighting field in the next few years, and eventually completely replace the traditional lighting. The whole industry is currently on the eve of the outbreak.
From the perspective of the industrial chain, the higher the upstream, the higher the technical threshold and the higher the profit margin. LED epitaxial wafers and LED chips account for about 70% of the industry's profits.
At present, the global silicon carbide epitaxial wafer production technology is mainly in the hands of a few foreign companies represented by CREE, II-VI and DowCorning. The three companies together account for more than 90% of the global silicon carbide epitaxial wafer market, and most of the domestic LEDs. Manufacturing companies need to import epitaxial wafers from abroad.
Tianfu Thermal Power has completed the industrial layout of silicon carbide (SiC) epitaxial wafers. The 2-inch conductive 4H/6H wafer has matured and become the only manufacturer of silicon carbide epitaxial wafers in China, breaking the monopoly of foreign companies and lowering the product price. The international similar products have reached the international advanced level and have strong competitive advantages and import substitution space.
The company holds the core technology of the upstream of the LED industry chain, and has the concept of Xinjiang. At present, the stock price has not been greatly increased and has good security.
The company's silicon carbide project currently has 33 crystal growth furnaces with a future target of 300 units.
Sanan Optoelectronics (600703): The largest LED chip manufacturer in China, Sanan Optoelectronics Co., Ltd. is mainly engaged in the R&D, production and sales of LED epitaxial wafers and chips. It is the only mass production manufacturer that realizes full-color high-brightness LEDs in China, and the product qualification rate and technology. The parameters are better than the peers.
Ranked fourth in the Asia-Pacific region except Japan, second only to Taiwan's “Crystal Powerâ€, “Hua Shang†and “Guang Jiaâ€. The company has 14 domestic advanced MOCVD and supporting equipments, with an annual production capacity of 500,000 epitaxial wafers and 16 billion chips.
The company's refinancing has been successfully completed and the Tianjin project will further enhance the company's profitability. The production scale of the Tianjin project is about 850,000 pieces/year of epitaxial wafers and 20 billion chips/year of chips. After the project is fully produced, it will exceed the company's existing production capacity.
However, due to the overall increase in Sanan Optoelectronics, most analysts have given them a “reduce†rating.
Lianchuang Optoelectronics (600363): LED complete industrial chain Lianchuang Optoelectronics main cable and optoelectronic devices, of which optoelectronic devices accounted for about 60%, is one of the country's five major industrial bases for semiconductor lighting projects.
The company has international advanced level of epitaxial furnace, chip and device packaging equipment and test equipment, forming a relatively complete industrial chain of LED epitaxy, chips, devices, backlights and semiconductor lighting sources. At present, LED revenue and profit mainly come from the middle and lower reaches of the industry.
Silan Micro (600460): Revenues with upstream core technology Silan micro-integrated circuits, discrete devices and LED business accounted for 48%, 30% and 22% respectively, and the main profit ratio was 40%, 30% and 30%.
Silan Micro's subsidiary Hangzhou Silan Mingxin Technology Co., Ltd. is engaged in semiconductor lighting business. The company has six MOCVD epitaxial furnaces, and two other MOCVDs were in place at the end of 2009. The company occupies 60% to 70% of the domestic outdoor color screen market, and 50% of the epitaxial film can be supplied.
In the first three quarters of 2009, the company's LED business achieved revenue of 133 million yuan, and the third quarter revenue was the sum of the first two quarters. In the first half of 2009, the LED business realized a net profit of 5 million yuan. In the third quarter, it achieved a net profit of 10 million yuan, showing an endogenous turning point.
Tongfang Co., Ltd. (600100): It has a development strategy of “engineering products and promoting products with products†from the chip to the lighting industry chain. It gradually builds a complete industrial chain from chip production to LED lighting design and application. .
In 2007, Tongfang completed the construction of five LED production lines and has formed an annual production capacity of 400 million high-power blue LED chips.
In order to further enhance the company's overall competitiveness in the semiconductor lighting industry, the company has also joined the National Semiconductor Lighting Engineering R&D and Industry Alliance to share resources in the upstream and downstream of the semiconductor lighting industry, industry, university and research information, and intellectual property.
In 2008, the company implemented the acquisition of Udine Singapore Tinggi. Tinggi is mainly engaged in the development of high-power LED chip manufacturing technology, which has many technologies such as LED substrate stripping technology, conductive and thermal conductive new substrate bonding technology, vertical structure chip separation technology, and surface roughening technology.
Fangda Group (000055): Products are widely used in landscape lighting Fangda Group has formed a complete industrial chain from LED epitaxial wafers, chips to semiconductor lighting products and engineering and other end markets. Products have been widely used in landscape lighting systems and outdoor large screen displays.
The quality of epitaxial wafers and LED chips has reached the level of similar foreign products. The high-power blue LED chips and white LED composite phosphors have been successfully developed. The technology and scale are at the domestic leading level.
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