The mysterious Mitsui property has quietly carried out the layout of the LED industry in China.

Unresolved negotiations

Chen Bin, general manager of Guangdong Zhonglong Company, a leading LED lighting company in China, was also “negotiated”. "I don't know anyone in Mitsui's property, and I don't know how Mitsui's property found me." Chen Bin told reporters.

"Everyone has been in contact twice, but also to talk about the third time." In the exchange, Chen Bin found that Mitsui's products are very optimistic about the LED lighting industry, and will certainly enter the investment in this field, but they do not understand LED technology. As a result, their judgment is not clear.

In fact, the LED companies targeted by Mitsui & Co., Ltd. are not only Guangdong Zhonglong, but also LED street light leading enterprises.

"The Mitsui property personnel who communicated and communicated with the company before and after, there were 100 people in the last year, all of them are executives. Until now, there is still no cooperation with Qindi." Li Xuliang, chairman of Qinshang Optoelectronics, pointed out.

Perhaps because he is still talking with Mitsui, the products of Chen Bin and Li Xuliang are not willing to disclose more details. The only detail that can be disclosed is that Mitsui & Co. hopes to acquire about 10% of the shares in Guangdong Zhonglong.

“Mitsui products generally choose industry leaders to invest. They regard this LED lighting industry as the most important industrial layout.” Li Xuliang said that Qinshang Optoelectronics has more than 200 inventions for LED lighting inventions, accounting for more than the total number of invention patents in the global LED lighting field. 45%. At present, Qinshang Optoelectronics has a market share of over 50% in the domestic LED street lamp market.

Chen Bin said that Guangdong Zhonglong had a revenue of 22 million yuan last year and the contract amount reached 33 million yuan. Although the number is not large, this performance is one of the best in the domestic LED tunnel light enterprises. In the first four months of this year, sales reached 20 million yuan. It is estimated that the contract sales this year will reach 70 million yuan, with an annual growth rate of more than 100%.

Although Guangdong Zhonglong and Qinshang Optoelectronics are not large in scale, they are also leading companies in the industry.

a company that has already bet

The already disclosed investment in Mitsui's products in the LED field is TPV Technology.

On April 22, Mitsui & Co., Ltd. has subscribed for 235 million shares of TPV Technology (00903.HK) through Morgan Stanley Asia Limited for HK$1.22 billion, accounting for 15.05% of the issued shares of TPV Technology, becoming the second largest TPV Technology. Shareholders, the shareholding ratio is second only to 15.79% of China Great Wall Hong Kong Company.

“Mitsui's investment in TPV is based on our technology and turnover.” Lv Bingchang, senior vice president of TPV Technology Group, said.

Zhang Xiaofei , CEO of Gaogong LED, pointed out that Mitsui & Co., Ltd. is now targeting TPV Technology, which is aimed at the emerging hotspots of LCD TVs and LCD monitors – LED TVs and LED displays, and the core of this piece is in LED backlights. “So you can judge The real purpose of Mitsui & Co., Ltd. to acquire TPV Technology is to use LED backlights to understand, enter and control the middle and lower reaches of the LED industry chain."

Lu Bingchang also told this newspaper that TPV will not invest in panel production, and TPV will only do backlight module processing in the panel. Last year, TPV required 55 million backlight modules, of which 15 million were made by TPV itself. TPV has a high degree of vertical integration in TV products.

TPV Technology said in the announcement that Mitsui & Co., Ltd. has been a supplier of LCD panels, battery packs and other related components. Mitsui's investment in the company will expand to the growing coverage of the LCD TV market. With the support of Mitsui & Co., it is expected that the company will receive more OEM orders.

Industry organizer

Bai Yimin, a researcher at Japan's multinational corporation and author of "The Mitsui Empire in Action," told the newspaper yesterday that Mitsui's products have mobilized activities between the industrial chains through the overall layout of the industrial chain, and ultimately controlled the entire industry. Mitsui & Co., Ltd. invests in TPV Technology and contacts LED lighting and lighting companies such as Guangdong Zhonglong and Qinshang Optoelectronics. In fact, it is the layout panel industry and the downstream of the LED industry, looking for a market for its upstream layout and looking for trade opportunities.

"NEC, Sony, Toshiba, Panasonic, Sanyo, Toyota and other Japanese multinational giants have a common control force, that is, Mitsui products." Bai Yimin pointed out that Mitsui's method of controlling the industrial chain is like playing Go, first few points And then gradually step through the layout.

Bai Yimin's interpretation of Mitsui's property seems to also analyze the true purpose of Mitsui's property investment in TPV and contact with Guangdong Zhonglong and Qinshang Optoelectronics.

The layout of Mitsui's products upstream of the LCD panel can be directly found in the market through TPV. Japan's current LED technology level and output value are ahead of other countries, among which Nichia (Nichia) and Toyoda Gosei (Toyota Synthetic) are the world's leading LED chip companies; Sharp (Sharp), Panasonic (Panasonic), Toshiba (Toshiba) ), NEC, Hitachi (Hitachi), etc. are all internationally renowned LED packaging manufacturers; in the LED substrate materials, there are also Showa Denko, Shin-Etsu Semiconductor and Mitsubishi Chemical. "These Japanese LED manufacturers are generally members of the Mitsui consortium system." Bai Yimin said.

Obviously, Mitsui & Co., Ltd. wants to control the middle and lower reaches of the LED industry chain by acquiring shares in TPV (LED backlight), Guangdong Zhonglong and Qinshang Optoelectronics, and finally sell its raw materials and equipment to TPV (LED backlight). Guangdong Zhonglong and Qinshang Optoelectronics, in order to maximize their own interests. Li Xuliang also said that the current LED chip manufacturers are hoping to enter the Qinshang optoelectronics supply chain, even at a price to grab the order.

Mitsui & Co., Ltd. also hopes to control the logistics services produced by all trade activities. On May 24, Jinjiang Investment announced that Mitsui & Co., Ltd. will acquire a 49% stake in Shanghai Jinjiang International Low Temperature Logistics Development Co., Ltd. under the total price of RMB 112 million.

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