Looking back at the development of the LED industry, after a period of vicious competition such as price wars, product prices have broken through the bottom line. The industry is overcapacity, corporate profits are dilute, and companies that can survive are basically tested by blood and fire. With the continuous improvement of the industrial environment, the state also advocates enterprise innovation, and the LED industry also needs to enter the period of innovation and transformation, which requires the promotion of the capital market.
On April 19th, Jinshajiang Capital, which acquired Philips Lumileds, announced the establishment of the LED lighting industry cornerstone fund. The limited partners include China's high-tech sector leader, Taiwanese industrial group and well-known private entrepreneurs, with a scale of up to US$1 billion. The fund introduced experienced team members including Mr. Su Jianghua and Dr. Fan Zhencan, who are well-known in the LED lighting industry.
With the goal of “Building a lighting company with world influence in Chinaâ€, relying on the lighting industry chain that Jinshajiang Capital has continuously selected and cultivated for more than ten years, it will build a world-class LED lighting platform, further optimize the global supply chain and promote global LED. The industry is developing towards higher quality and higher quality. Currently this fund has been oversubscribed.
On May 16, Mu Linsen, the world's top 10 LED packaging leader, announced that it intends to use its own funds and Harmony Haoquan Investment Management (Beijing) Co., Ltd. (hereinafter referred to as “Harmonious Haohaoâ€) or its affiliates and other investments. Together they set up a limited partnership.
The partnership mainly acquires equity in high-quality LED industry companies by participating in capital increase and equity transfer; acquiring high-quality assets in the LED industry. The amount of subscribed capital is tentatively set at RMB 500 million. The specific amount will be determined in the formal partnership agreement signed by the parties. In the later stage, the amount of capital contribution and investors can be increased according to the investment situation.
On May 19th, TCL Group and Hubei Changjiang Guidance Fund and Hubei Science Investment announced the establishment of a multi-billion-scale industrial M&A fund, focusing on TMT, Industry 4.0, “Made in China 2025†and “Internet Plusâ€. The fund raised in the first phase was 3.01 billion yuan.
On May 24, LED chip leader Sanan Optoelectronics announced that the company will invest RMB 12 million in its own monetary funds with the National Integrated Circuit Industry Investment Fund Co., Ltd. and Jinjiang Anzhen Investment Fund Partnership (Limited Partnership). Established Fujian Anxin Investment Management Co., Ltd., with a business scope of investment management and investment consulting.
The Anxin Fund, which was established this time, will be located in Jinjiang. The target size of the fund is 50 billion yuan, and the initial investment scale is 7.51 billion yuan. It will be mainly invested in the III-V compound integrated circuit industry group and other semiconductor industries dominated by the integrated circuit industry chain, covering design, manufacturing, packaging and testing, materials, equipment and applications.
The LED industry chain is mainly divided into upstream epitaxial wafers and chips, midstream packaging and downstream product applications:
At present, the competition pattern of China's LED industry chain is mainly as follows:
I. The upstream competition pattern of the industrial chain
China's LED industry chain upstream epitaxial wafer and chip manufacturing patents are monopolized by European, Japanese and American companies. The epitaxial wafer and chip fabrication links are the most intensely patented, capital-intensive, and technically and equipment-intensive. Manufacturing patents are almost monopolized by Japanese, European, and American companies such as Nichia, Cree, Lumileds, Osram, GElcore, and Toyota Synthetic.
The most important epitaxial wafer production equipment manufacturers in the LED industry chain are Veeco in the US, Aixtron in Germany, and NipponSanso and NissinElectric in Japan. Japanese companies only supply the country and do not export. Packaging equipment companies mainly include ASM, Han's laser and so on.
What are the LED stocks?
Second, the mid-stream competition pattern of the industry chain
In the mid-stream packaging of the LED industry chain, Taiwan and South Korea's enterprises have made remarkable technological progress, and sales have surpassed Europe and the United States. Taiwan and South Korea have a complete industrial chain of consumer electronics. The upstream and downstream industries are complementary to each other, with stable supply and sales. They have the industrial advantages of the backlight market. The LED packaging enterprises have the highest output and revenue in the world, but they still have technical gaps with European, Japanese and American companies. .
Third, the industrial chain downstream competition pattern
In the downstream application of the LED industry chain, local companies enjoy channel and cost advantages. Well-known foreign lighting companies GE, Osram, and Philips are still leading in LED lighting design patents, production technology, and product quality, but local companies rely on domestic government subsidies, bidding and other policy support, labor costs, sales channels and other advantages to share with international brands. market share.
In recent years, the cross-border LED enterprise layout has been played:
Alto Electronics: LED+ Financial Services
In 2014, Alto Electronics invested in Pengding Chuangying to lay the early stage for the transformation of financial electronics business. Previously, Alto Electronics had proposed a vision for the development of “two-winged flyingâ€: one wing is LED application and the other wing is financial electronics.
Alto Electronics said that under the general trend of Internet finance, traditional banks are gradually transforming, and new forms of banks such as smart banks and community banks are gradually emerging. In the future, the company will actively do LED business and financial electronics while playing the original On the basis of advantages, carry out innovations in related businesses.
Lian Jian Optoelectronics: LED + Digital Media
LED display predator Lianjian Optoelectronics established a linkage culture through the establishment of linkage culture, the acquisition of time-sharing media, Youtuo public relations, precision segmentation, easy-to-reach and other companies to form a soft and hard integration, digital, online and offline integrated communication platform; Through the acquisition of four companies in the field of Internet media and outdoor advertising, the company initially established its “Digital Outdoor Media Group†and established several core businesses such as digital equipment technology, brand public relations services and outdoor media networks.
Lehman shares: LED + sports
Since 2011, Lehman has become the official sponsor of the Chinese Super League. Since its involvement in the football industry, its actions in the sports industry have followed. In April 2015, Li Mantie invested 5 million yuan to set up his own football-related business mobile Internet APP Technology Co., Ltd. "Beijing Lehman Twelfth Technology Co., Ltd.";
In July 2015, Lehman and Li Mantie and Beijing Lehman Kaixin jointly established the Lehman Kaixing Sports Culture Fund, focusing on investing in sports culture, sports technology, Internet and other fields in line with the company's development strategy; last year, Lehman The shares are also named Portuguese. It can be said that the fate of Lehman shares and the sports industry has accumulated.
Liard: LED+ Culture
Since 2016, Liard has announced the division of the business segment into a cultural sector and technology sector. Through the acquisition of Jinda Lighting, Internet Yida, Lifeng Culture, Jinlixiang and Pinergy Optoelectronics, Liard's business integration effect is remarkable.
Liard said that with the successful combination of audio-visual technology and cultural creativity in the opening and closing ceremonies of the 2008 Beijing Olympic Games, Liard will take advantage of the brand advantages, creative advantages and product technology advantages of the subsidiaries in the audio-visual culture field. The integration of resources, such as experience advantages, to create a new "urban culture, tourism, performing arts" business model.
Qinshang Optoelectronics: LED+ Education
In January 2016, Qinshang Optoelectronics disclosed that it will acquire 100% equity of Guangzhou Longwen Education in the form of issuing shares and paying cash. After the transaction, Guangzhou Longwen Education will become a wholly-owned subsidiary of Qinshang Optoelectronics, and Qinshang Optoelectronics will realize the dual main business layout of LED products and K12 counseling services.
Hongli Optoelectronics: LED package + car networking
Prior to this, Hongli Optoelectronics has proposed a development strategy for 2015, which will evaluate and choose to enter a new new industry suitable for the future development of the company, and strive to transform the newly entered industry into a dual main business form with both LEDs. In the future, Hongli Optoelectronics will put the development direction of the company's secondary industry on the Internet of Vehicles. First of all, Hongli Optoelectronics owns 18 million shares of Jiangsu Nanyi Dina Technology, a car network manufacturer with 45 million shares.
Through this transaction, Hongli Optoelectronics will cut into the Internet of Vehicles industry. Following the participation in Jiangsu Nanyi Dina Technology, Hongli Optoelectronics plans to increase its capital to Shenzhen Huishitong Technology Co., Ltd. with a cash of 195 million. The formal implementation of the investment will further accelerate the company's pace in the emerging industry (Aiji, net worth, information) car networking industry.
In addition to the above-mentioned enterprises, Abisen, Wanrun Technology, Sanxiong Aurora, Sanan Optoelectronics and other enterprises are involved in the secondary industry while operating the LED business. This shows that cross-border has become a trend, and it has also become one of the ways for companies to actively expand new profit growth points.
The power transmission line steel poles are mainly used in 10KV, 35KV, 110KV and 220KV transmission lines.
Power Transmission Steel Pole,Steel Transmission Pole,Steel Distribution Poles,Power Transmission Steel Poles
Jiangsu Baojuhe Science and Technology Co.,Ltd. , https://www.galvanizedsteelpole.com