[Text|High-tech LED reporter Luo Shenghua] Global LED packaging giant CREE recently announced the second quarter financial report for the fiscal year 2015. The main business of LED chips is squeezed by Chinese domestic brands such as Sanan and Huacan. Although the company's operating profit is higher than expected, its net income still shows negative growth.
On January 20th, US Eastern Time, CREE announced that as of December 28, 2014, the company's revenue for the second quarter of fiscal 2015 was $413.2 million, down 0.46% from the same period last year of $415.1 million.
After the data was released, CREE Chairman and CEO ChuckSwoboda said: Thanks to the increase in the gross profit of the lighting business, the company's operating profit margin was higher than expected, and the company's finances achieved solid growth in the second quarter.
“The LED lighting market is still in its early stages, our new product line remains strong, sales momentum is being built, and our brand in the market is improving.â€
ChuckSwoboda stressed.
It is understood that CREE's business mainly includes LED lamp beads, chips, SiC materials and finished products applications. In the past two years, the LED lighting trend has gradually shifted from high power to medium power, making CREE revenue and profit for the main high-power lighting continue to face pressure. Earlier in early October 2014, CREE issued a performance warning that lighting sales were not as good as expected, causing the company's share price to plummet to a new low of more than a year and a half.
An investment analyst said that in addition to the change in market demand has affected the decline of CREE's overall revenue, the rising quality of domestic manufacturers' lamp beads and the competition brought by price advantage have also impacted foreign brands such as CREE.
“Taking street lamps as an example, two or three years ago, streetlight companies generally designated devices using foreign brands such as Philips and CREE, but now local companies such as Sanan and Huacan have already integrated with these international brands in terms of product technology. Price advantage." The analyst explained.
In the past two years, China's mainland chip companies Sanan Optoelectronics and Huacan Optoelectronics have stepped up their production expansion, which has brought enormous competitive pressure to foreign chip companies represented by Cree, especially at the price level. The gap between mainland chip companies and multinational companies in technology and products continues to narrow.
According to statistics from the High-Tech LED Industry Research Institute (GLII), from 2009 to 2014, the scale of China's LED chip industry has increased from 2 billion yuan to more than 10 billion yuan, and the number of MOCVD has increased from less than 200 units to more than 1,100 units. 20 times. The gap between the top technology level of China and Taiwan is within one year, and the gap with the international level is getting smaller and smaller.
"After the release of the financial report, the company's stock has been greatly improved, which is mainly due to the higher than expected operating profit of the financial report, and the North American lighting market is the main reason for the higher than expected CREE operating profit." Close to CREE related The person told reporters. In recent years, thanks to the adjustment of product strategy, CREE lighting business has continued to exert its strength in the North American market and has gradually gained market recognition.
"Like China's Mu Linsen, CREE has the title of price killer in the United States. Its lighting products are always the first to cut prices. It has already broken through the blockade of traditional lighting giants such as Philips, Osram, GE, etc. It is developing very rapidly." Familiar with the North American lighting market. Nie Pengxiang, chairman of the incentive test, told Gao Gong LED reporter.
Since 2014, CREE has launched a number of cost-effective LED bulbs. These products are only 2/3 of Philips' price, which is very competitive.
"Philips has a certain price system in the global market. Unlike Philips' independent accounting mechanism, CREE has an advantage in price strategy. The future development space in North America is very large." Gao Gong LED CEO Dr. Zhang Xiaofei said.
However, Dr. Zhang Xiaofei also stressed that Chinese consumers are very emotional in product selection, and CREE has no foundation in the Chinese terminal lighting market. Therefore, it is very difficult for LED lighting products to be promoted in the Chinese mainland market.
Compared with the chip and packaging business, the higher gross profit margin of downstream applications and the success of the lighting products themselves in the North American market are major contributors to CREE's overall operating profit. However, compared with the North American market, the relatively weak CREE lighting business in the Chinese lighting market has not helped the company itself.
Compared with the upstream chip and the midstream packaging field, the domestic application field is relatively more complicated, and the enterprise competition is more intense. At the price level, compared with domestic lighting companies, CREE has no price advantage at all. At the same time, in terms of product quality, the way of OEM production makes its proud quality advantage lost.
"The so-called orange is Huainan, it is orange, and the orange is in Huaibei. Even if it is an international brand such as CREE and Philips, its products are not entirely from its own manufacturing system," said the industry insider.
On January 20th, US Eastern Time, CREE announced that as of December 28, 2014, the company's revenue for the second quarter of fiscal 2015 was $413.2 million, down 0.46% from the same period last year of $415.1 million.
After the data was released, CREE Chairman and CEO ChuckSwoboda said: Thanks to the increase in the gross profit of the lighting business, the company's operating profit margin was higher than expected, and the company's finances achieved solid growth in the second quarter.
“The LED lighting market is still in its early stages, our new product line remains strong, sales momentum is being built, and our brand in the market is improving.â€
ChuckSwoboda stressed.
It is understood that CREE's business mainly includes LED lamp beads, chips, SiC materials and finished products applications. In the past two years, the LED lighting trend has gradually shifted from high power to medium power, making CREE revenue and profit for the main high-power lighting continue to face pressure. Earlier in early October 2014, CREE issued a performance warning that lighting sales were not as good as expected, causing the company's share price to plummet to a new low of more than a year and a half.
An investment analyst said that in addition to the change in market demand has affected the decline of CREE's overall revenue, the rising quality of domestic manufacturers' lamp beads and the competition brought by price advantage have also impacted foreign brands such as CREE.
“Taking street lamps as an example, two or three years ago, streetlight companies generally designated devices using foreign brands such as Philips and CREE, but now local companies such as Sanan and Huacan have already integrated with these international brands in terms of product technology. Price advantage." The analyst explained.
In the past two years, China's mainland chip companies Sanan Optoelectronics and Huacan Optoelectronics have stepped up their production expansion, which has brought enormous competitive pressure to foreign chip companies represented by Cree, especially at the price level. The gap between mainland chip companies and multinational companies in technology and products continues to narrow.
According to statistics from the High-Tech LED Industry Research Institute (GLII), from 2009 to 2014, the scale of China's LED chip industry has increased from 2 billion yuan to more than 10 billion yuan, and the number of MOCVD has increased from less than 200 units to more than 1,100 units. 20 times. The gap between the top technology level of China and Taiwan is within one year, and the gap with the international level is getting smaller and smaller.
"After the release of the financial report, the company's stock has been greatly improved, which is mainly due to the higher than expected operating profit of the financial report, and the North American lighting market is the main reason for the higher than expected CREE operating profit." Close to CREE related The person told reporters. In recent years, thanks to the adjustment of product strategy, CREE lighting business has continued to exert its strength in the North American market and has gradually gained market recognition.
"Like China's Mu Linsen, CREE has the title of price killer in the United States. Its lighting products are always the first to cut prices. It has already broken through the blockade of traditional lighting giants such as Philips, Osram, GE, etc. It is developing very rapidly." Familiar with the North American lighting market. Nie Pengxiang, chairman of the incentive test, told Gao Gong LED reporter.
Since 2014, CREE has launched a number of cost-effective LED bulbs. These products are only 2/3 of Philips' price, which is very competitive.
"Philips has a certain price system in the global market. Unlike Philips' independent accounting mechanism, CREE has an advantage in price strategy. The future development space in North America is very large." Gao Gong LED CEO Dr. Zhang Xiaofei said.
However, Dr. Zhang Xiaofei also stressed that Chinese consumers are very emotional in product selection, and CREE has no foundation in the Chinese terminal lighting market. Therefore, it is very difficult for LED lighting products to be promoted in the Chinese mainland market.
Compared with the chip and packaging business, the higher gross profit margin of downstream applications and the success of the lighting products themselves in the North American market are major contributors to CREE's overall operating profit. However, compared with the North American market, the relatively weak CREE lighting business in the Chinese lighting market has not helped the company itself.
Compared with the upstream chip and the midstream packaging field, the domestic application field is relatively more complicated, and the enterprise competition is more intense. At the price level, compared with domestic lighting companies, CREE has no price advantage at all. At the same time, in terms of product quality, the way of OEM production makes its proud quality advantage lost.
"The so-called orange is Huainan, it is orange, and the orange is in Huaibei. Even if it is an international brand such as CREE and Philips, its products are not entirely from its own manufacturing system," said the industry insider.
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