In the first half of the year, the LED commercial market and the civilian market made breakthroughs, and the related A-share listed companies were in good overall operation. At the same time, the restructuring of the industry has quietly taken place, and some small and medium-sized enterprises have begun to sell MOCVD machines to large companies. Analysts believe that this indicates that the industry concentration will be significantly improved in the future, and the price of LED chips will be eased.

Many companies report

The mid-year report showed that Sanan Optoelectronics, Dehao Runda, Guoxing Optoelectronics, Qinshang Optoelectronics and Xuelaite five LED companies realized main revenues of 1.674 billion yuan, 1.353 billion yuan, 546 million yuan and 462 million yuan respectively in the first half of the year. 1.92 billion yuan, up 22.13%, 10.52%, 22.93%, 26.78%, and 8.73%, respectively. Correspondingly, the output value of the LED industry continued to rise in the first half of the year, up 25% year-on-year, higher than the 23% increase in the whole year.

Looking at the LED business alone, Sanan Optoelectronics LED products achieved revenue of 1.442 billion yuan, up 14.47% year-on-year; Dehao Runda LED products achieved revenue of 693 million yuan, up 78.9% year-on-year; Guoxing Optoelectronics' main SMDLED business revenue 4.13 billion yuan, an increase of 29.73%; Qinshang photoelectric LED products achieved revenue of 462 million yuan, an increase of 26.78%; Shelllight LED products realized revenue of 14.62 million yuan, a year-on-year increase of 4 times. The operating profit of the LED business of the five companies was 470 million yuan, 240 million yuan, 105 million yuan, 1.24 yuan and 3.3 million yuan respectively, and the corresponding gross profit margins were 32.75%, 34.66%, 25.46%, 29.71% and 22.61% respectively.

The high level of industry sentiment led to a good increase in LED concept stocks in the first half of the year. Flux statistics show that in the first half of the year, 20 of the listed companies in the LED market maintained their upward trend. Sanan Optoelectronics, Dehao Runda and Qinshang Optoelectronics all increased by more than 30%, ranking the forefront of the sector.

As for the net profit attributable to the net profit, the net profit of Sanan Optoelectronics and Dehao Runda, which accounted for a large share of the chip, showed a downward trend. The two companies achieved a net profit of 462.8 million yuan and 50.5 million yuan respectively in the first half of the year. They fell by 0.7% and 59.38% respectively. Qinshang Optoelectronics, Guoxing Optoelectronics and Xuelaite's net profit attributable to the growth achieved net profit of 54.59 million yuan, 49.84 million yuan and 3.66 million yuan respectively, up 20%, 18.43% and 13.34% respectively.

If the non-net profit statistics are used, the performance of the above five companies all show an upward trend, reflecting the good profitability of the LED business itself. Statistics show that Sanan Optoelectronics, Dehao Runda, Guoxing Optoelectronics, Qinshang Optoelectronics, and Snowlight achieved net profit of 406 million yuan, 4.02 million yuan, 36.2 million yuan, 53.63 million yuan and 3.66 million yuan respectively in the first half of the year. , a year-on-year increase of 33.47%, 156.02%, 9%, 42.6%, 13.34%.

According to industry insiders, after the external support factors have gradually disappeared, the profitability of the LED industry is still remarkable.

Industrial restructuring

China's LED has always had a serious problem of “small scattered”. A report shows that the market share of China's LED listed companies in the whole market is only about 15%, and the industry concentration is not high, which seriously affects industrial technology progress. And brand channel construction.

Since the beginning of this year, the issue of the concentration of LED industry needs to be raised by industry experts. With the continuous upgrading of the industry, the invisible hand of the market is playing an active role. Recently, some institutional research reports revealed that some small and medium-sized enterprises began to sell MOCVD machines to large companies. MOCVD machines are mainly used to produce LED chips, which means that LED chips will enter the shuffling stage.

Analysts believe that small and medium-sized LED enterprises are subject to brands and channels. When the market forms a certain scale, it will inevitably encounter bottlenecks. From the industry observation, the current upstream turning point of the industry has already begun to appear. As resources are concentrated in large enterprises, the LED industry will face the problem of supply contraction in the future. For large companies, this is a good thing, because the increase in industry concentration can make it more spoken.

An industry analyst told the China Securities Journal that LED chips belong to the semiconductor industry. In the long run, price cuts are a trend, but the possibility of desperate price cuts in the past few years is almost impossible in the future, and the market concentration will increase. Shipments of listed companies have led to significant improvements, further improving the company's profitability.

In this context, brand and channel construction will become a key strategy for LED companies. Because the construction of brands and channels takes a long time, companies need to have a good financial reserve. According to the report, the cash reserves of several companies are relatively strong. The stocks of monetary funds of Sanan Optoelectronics, Dehao Runda, Guoxing Optoelectronics and Qinshang Optoelectronics are 1.291 billion yuan, 900 million yuan, 1.355 billion yuan, 16.94. 100 million yuan.

(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)

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