GLII: At present, about 50 LED companies in China are on the market

Near the end of the year, the pace of LED companies hitting the capital market is accelerating. On December 13th, Jufei Optoelectronics just passed the IPO application review by the China Securities Regulatory Commission. On December 15th, Wanrun Technology sounded the door of the China Securities Regulatory Commission's audit committee. On December 16, two LED companies, Changfang Semiconductor and Liard Optoelectronics, will be reviewed separately.

Fiery plate
Since this year, China's LED companies have accelerated the pace of landing in the capital market.

In January, Lehman Optoelectronics was officially listed. In May, the domestic LED packaging company Hongli Optoelectronics successfully landed on the Shenzhen GEM. In June, Alto Electronics and Chaon Ming Technology also successfully landed in the capital market. In July, Ruifeng Optoelectronics joined the LED listed company camp. In October, Lianjian Optoelectronics was officially listed.

On November 25th, Qinshang Optoelectronics was listed on the Shenzhen Stock Exchange. On December 13, Jufei Optoelectronics passed the audit by the CSRC.

In addition to the above-mentioned companies that have been successfully listed, there are not a few reserve forces in this sector.

On December 14th, Wanrun Technology, which is mainly engaged in LED light source device packaging and LED lighting products, will be reviewed. On December 16, Changfang Semiconductor and Liard Optoelectronics will also ring the door of the CSRC.

It is reported that in addition to the above-mentioned enterprises, there are only a few LED companies in Shenzhen that are ready to go public. In addition, 50 LED companies have completed or are undergoing share reforms in order to introduce investors and quickly achieve listing. At present, LED companies waiting to be listed are ranked in the following year.

Capacity digestion question
It is not difficult to find that most of the LED companies listed or listed on the market are concentrated in the packaging field.

Zhang Xiaofei, dean of Zhejiang Higher Industrial Research Institute, said: There are more than 1,200 packaging companies in China, and the production capacity is more than the market demand. In addition, the price of materials such as phosphors in the packaging industry has not decreased, and although the chip has declined, it is not enough to reduce the packaging cost. The price wars under the competition of multi-package enterprises, small scale and homogenization competition have led to lower and lower gross profit margins.

According to the research of the High-tech LED Industry Research Institute, some small and medium-sized packaging companies have already started to work.

In addition, Zhang Xiaofei said: China's LED packaging companies are numerous but relatively fragmented, and have not yet formed industry leading enterprises. Generally speaking, Chinese packaging companies rarely have core technologies, and the homogenization competition is serious, resulting in low gross profit margins. In the future competition, packaging companies will bear the brunt of the reshuffle.

This is the area that may be shuffled. Recently, with the help of the capital market, the production capacity is still growing rapidly.

Lehman Optoelectronics prospectus shows that after the project is put into production, 264 million LED devices with annual capacity will be added, 480 million SMD LED devices, and 0.096 billion LED devices will be used. The LED display will be 10,200 square meters. Meters, LED lighting energy-saving products 360,000, capacity expansion is faster.

Jufei Optoelectronics introduced in the prospectus: After deducting the issuance expenses, the funds raised in this issue will be invested in the following projects in order of priority: investment of 215.27 million yuan for the expansion of backlight LED devices, investment of 1007.5761 million for the expansion of lighting LED devices The project invested RMB 44.48 million in the LED technology R&D center project.

Jufei Optoelectronics said: After the fund-raising investment project is fully realized, the production capacity of backlight LED device products will increase by 1440 million/year, and the newly-added capacity will be twice the capacity of 720 million/year in 2010. The production capacity of the device products will increase by 660 million/year, and the new capacity will be 7.33 times the capacity of 90 million/year in 2010.

In addition, listed companies also plan to continue to increase the capacity of China's LED industry.

Recently, Tuobang shares plans to invest 380 million yuan to build a photovoltaic industrial park, Dehao Runda ç ¸ 3 billion yuan to build the mainland's largest LED packaging base, Tiantong shares 360 million investment LE D project, Amethyst Optoelectronics intends to vote 29 100 million yuan in the production of sapphire crystals in Xinjiang, Yang Yang Optoelectronics ordered four production of LED epitaxial wafer MOCVD equipment.

While the company is expanding wildly, the production capacity has doubled; while the downstream sales are not smooth, the industry is overcaping. How to digest in the future will become an urgent issue for these companies.

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