[Source: "High-tech LED - Research and Review" June issue / Tang Guirong]
“Compared to the blue LED chip market, the market size of the red and yellow light has changed little, and the main competitor of domestic enterprises is the Taiwanese LED manufacturer with large capacity. The behind the high inventory of dry photo photoelectric is the poor sales channel. And the market competition is becoming increasingly fierce." A domestic LED chip maker said.
On June 14, Xiamen Dry Photoelectric Co., Ltd. (300102.SZ, hereinafter referred to as “Guangzhao Optoelectronicsâ€) announced that it plans to invest in Xiamen to establish Xiamen Dry Photo Trading Co., Ltd. (hereinafter referred to as “dry photo tradeâ€). The registered capital of the subsidiary is RMB 30 million.
For the purpose of setting up a trading company, the announcement stated that the current national industrial policy is clear and the industry is developing at a high speed. The establishment of trading company is to integrate resources, expand business scope, expand market share, and provide better service to customers.
However, according to the dry photo photoelectric report, in 2011, dry photo photoelectric inventory reached 127 million yuan, an increase of 219.16% over the same period last year.
"The price of red LED chips is not large, but Ganzhao Optoelectronics has always faced a single dilemma of its main business." A brokerage analyst who has long been concerned about Ganzhao Optoelectronics said that Sanan Optoelectronics has launched a price cut since the second half of last year. , step up digestion of stocks. The indirect effect of this competition is that the gross profit margin of Ganzhao Optoelectronics products has started to decline from a high level.
According to the latest financial report, in Q1 2012, Ganzhao Optoelectronics realized a net profit of 323.273 million yuan, a year-on-year decrease of 4.88%. Obviously, dry photo photoelectricity needs to seek new market breakthroughs.
Main business single
In 2011, the overcapacity of global LED chips has caused the shortage of operating rates and high inventory crisis for most LED chip manufacturers.
Dry Photoelectric is mainly based on high-brightness quaternary red and yellow LED chips. The products are mainly used in backlight, night scene engineering, traffic lights, electronic equipment, display screens, automotive lighting and other fields. According to GLII statistics, in 2011, Ganzhao Optoelectronics added 16 MOCVD. However, while the production capacity has increased, the inventory of dry photo optoelectronics has also increased rapidly.
Ganzhao Optoelectronics 2011 financial report shows that the company's inventory increased from 39.78 million yuan in 2010 to 127 million yuan in 2011, an increase of 219.16%. In terms of cash flow, Ganzhao Optoelectronics' cash flow in 2011 was negative 21.1 million yuan, down 124.51% from 2010. The establishment of the trading company of Ganzhao Optoelectronics has also been interpreted by the industry as a strong agent to solve high inventory and improve sales ability.
A chip maker executive said that the current sales capacity and channel layout capabilities of domestic LED chip companies are generally insufficient. The reason is that in the first two years, the supply of chips was in short supply, and all the packaging companies came to their own door. From last year, the LED chip market began to turn into an oversupply situation.
The above-mentioned high-level officials said that with the continuous release of subsequent production capacity, in the case of increasingly fierce market competition, if the company still adopts direct sales, sales will be somewhat difficult. Therefore, starting from the second half of last year, some LED chip manufacturers began to strengthen their own channel construction, with the development of agents as the main means.
In addition to worrying about the channel expansion capabilities of Ganzhao Optoelectronics, a securities analyst said that if Ganzhao Optoelectronics has always used a single red and yellow LED chip as its main business, it will be difficult to support the company to become bigger and stronger in the future.
In recent years, due to the continuous expansion of the market for full-color LED display screens, the market for traditional single red and yellow LED chips has had a huge impact.
A person in charge of a packaging company said that full-color LED displays require red, green and blue LED chips, so they prefer to choose a chip company with a full range of light colors. Therefore, the dry-lighting of the red-yellow chip is inevitably suffering a new round of impact from the market.
This has also become a bottleneck for the low sales of dry photo optoelectronics. According to the financial report, Sanan Optoelectronics' chip sales in 2011 was 1 billion yuan, while Ganzhao Optoelectronics' 2011 chip sales were 286 million yuan.
“Compared to the blue LED chip market, the market size of the red and yellow light has changed little, and the main competitor of domestic enterprises is the Taiwanese LED manufacturer with large capacity. The behind the high inventory of dry photo photoelectric is the poor sales channel. And the market competition is becoming increasingly fierce." A domestic LED chip maker said.
On June 14, Xiamen Dry Photoelectric Co., Ltd. (300102.SZ, hereinafter referred to as “Guangzhao Optoelectronicsâ€) announced that it plans to invest in Xiamen to establish Xiamen Dry Photo Trading Co., Ltd. (hereinafter referred to as “dry photo tradeâ€). The registered capital of the subsidiary is RMB 30 million.
For the purpose of setting up a trading company, the announcement stated that the current national industrial policy is clear and the industry is developing at a high speed. The establishment of trading company is to integrate resources, expand business scope, expand market share, and provide better service to customers.
However, according to the dry photo photoelectric report, in 2011, dry photo photoelectric inventory reached 127 million yuan, an increase of 219.16% over the same period last year.
"The price of red LED chips is not large, but Ganzhao Optoelectronics has always faced a single dilemma of its main business." A brokerage analyst who has long been concerned about Ganzhao Optoelectronics said that Sanan Optoelectronics has launched a price cut since the second half of last year. , step up digestion of stocks. The indirect effect of this competition is that the gross profit margin of Ganzhao Optoelectronics products has started to decline from a high level.
According to the latest financial report, in Q1 2012, Ganzhao Optoelectronics realized a net profit of 323.273 million yuan, a year-on-year decrease of 4.88%. Obviously, dry photo photoelectricity needs to seek new market breakthroughs.
Main business single
In 2011, the overcapacity of global LED chips has caused the shortage of operating rates and high inventory crisis for most LED chip manufacturers.
Dry Photoelectric is mainly based on high-brightness quaternary red and yellow LED chips. The products are mainly used in backlight, night scene engineering, traffic lights, electronic equipment, display screens, automotive lighting and other fields. According to GLII statistics, in 2011, Ganzhao Optoelectronics added 16 MOCVD. However, while the production capacity has increased, the inventory of dry photo optoelectronics has also increased rapidly.
Ganzhao Optoelectronics 2011 financial report shows that the company's inventory increased from 39.78 million yuan in 2010 to 127 million yuan in 2011, an increase of 219.16%. In terms of cash flow, Ganzhao Optoelectronics' cash flow in 2011 was negative 21.1 million yuan, down 124.51% from 2010. The establishment of the trading company of Ganzhao Optoelectronics has also been interpreted by the industry as a strong agent to solve high inventory and improve sales ability.
A chip maker executive said that the current sales capacity and channel layout capabilities of domestic LED chip companies are generally insufficient. The reason is that in the first two years, the supply of chips was in short supply, and all the packaging companies came to their own door. From last year, the LED chip market began to turn into an oversupply situation.
The above-mentioned high-level officials said that with the continuous release of subsequent production capacity, in the case of increasingly fierce market competition, if the company still adopts direct sales, sales will be somewhat difficult. Therefore, starting from the second half of last year, some LED chip manufacturers began to strengthen their own channel construction, with the development of agents as the main means.
In addition to worrying about the channel expansion capabilities of Ganzhao Optoelectronics, a securities analyst said that if Ganzhao Optoelectronics has always used a single red and yellow LED chip as its main business, it will be difficult to support the company to become bigger and stronger in the future.
In recent years, due to the continuous expansion of the market for full-color LED display screens, the market for traditional single red and yellow LED chips has had a huge impact.
A person in charge of a packaging company said that full-color LED displays require red, green and blue LED chips, so they prefer to choose a chip company with a full range of light colors. Therefore, the dry-lighting of the red-yellow chip is inevitably suffering a new round of impact from the market.
This has also become a bottleneck for the low sales of dry photo optoelectronics. According to the financial report, Sanan Optoelectronics' chip sales in 2011 was 1 billion yuan, while Ganzhao Optoelectronics' 2011 chip sales were 286 million yuan.
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