[High-tech observation] When capital falls in love with LED
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According to the big wisdom data, as of now, the Shanghai-Shenzhen A-share market has nearly 60 main LED businesses or listed companies with LED business. The number of LED companies listed in the National SME Share Transfer System ("New Third Board") has also reached more than 30.
Although compared with the 2,862 A-share listed companies in the Shanghai and Shenzhen Stock Exchanges and the 2,258 listed companies in the New Third Board, the proportion of LED listed and listed companies is negligible. But for a certain segment of the industry, this figure is enough to reflect the capital's love for LED.
LED lighting, especially indoor lighting, is still growing at an annual rate of more than 50%. According to the statistics of the High-tech Research Institute LED Research Institute (GGII), the total output value of China's LED industry in 2014 reached 344.5 billion yuan, a year-on-year increase of 31%. Among them, the output value of LED upstream epitaxial chips, midstream packaging and downstream applications were 12 billion yuan, 56.8 billion yuan and 275.7 billion yuan respectively, up 43%, 20% and 32% respectively. Among them, the output value of LED indoor lighting, which is the main engine of lighting growth, reached 108.2 billion yuan, a year-on-year increase of 73%, maintaining a high-speed growth trend.
According to GGII forecast, indoor lighting continues to lead the development of LED application industry in 2015. It is still the main driving force for LED downstream development. It is expected to benefit from the rapid development of domestic civil lighting market and the continuous growth of export market. The annual output value of indoor lighting is expected to be large. More than 150 billion.
In 2015, China's LED lighting is expected to maintain a rapid development trend, and the output value will increase from about 220 billion yuan in 2014 to 300 billion yuan.
The profit-seeking nature of capital determines that it cannot ignore the huge market of high-growth LED lighting.
Between 2009 and 2010, the LED concept has attracted countless capital competitions. According to GGII statistics, in 2010, China's LED industry contracted investment totaled 217.885 billion yuan, of which only 2 billion sapphire substrates reached 22.7 billion yuan.
Crazy investment, but application demand has never been up, the domestic LED industry in 2011 after a serious overcapacity and price war, leading to the industry, especially in the upper and middle reaches epitaxial chip and packaging links were abandoned by various capitals.
With the gradual development and improvement of domestic LED product technology in recent years, the cost performance of LED products has increased rapidly, which has driven the rapid start of downstream lighting demand. The LED lighting industry has entered the golden period of development, and each capital has once again turned its attention to LED. .
In the A-share market, the amount and intensity of institutional research often represents the popularity of a company or even an industry. The LED industry, as a key industry supported by the state, has become one of the key industries for institutional research last year.
Expansion, mergers and acquisitions, and industrial chain extension have become hot issues for the organization. In the period of rapid development of LED lighting, the competition of comprehensive strengths such as scale, technology, capital and channels has become more and more important. LED listed companies have accelerated their layout through expansion and mergers and acquisitions last year. These moves have also contributed significantly to the growth of listed companies' net profit.
For a long time, small and medium-sized LED enterprises have difficulty in financing, and limited development has become an important issue that restricts the development of the LED industry. The data of GGII shows that there are more than 15,000 LED industry chain companies in China, most of which are small and medium-sized micro-LED companies. These companies do not meet the requirements for listing on A-shares in terms of revenue and net profit, while domestic credit also favors large and medium-sized enterprises.
These small and medium-sized LED companies urgently need to raise funds in the capital market to rapidly expand the scale and share the lighting dividend. The new three board, which began to expand greatly last year, has become a new path for small and medium-sized LED companies to embrace the capital market because of its low barriers to entry and low cost.
If the product is the cornerstone of enterprise development and foothold, then capital is undoubtedly the booster for the company to achieve new heights. The LED industry is taking advantage of the power of capital. 