[Source: "High-tech LED - Research and Review" September issue GLII]
From October 22 to October 31, the three quarterly reports of listed companies began to be released. According to the released performance forecast, there are 10 pre-increased net profit of 25 LED listed companies, accounting for 40% of the total (Figure 1), which is slightly higher than the performance of the mid-year report (Figure 2). However, this does not mean that the situation of the entire LED market has improved. There are obvious differences in the performance of companies in different market segments. This paper mainly analyzes the current demand situation of the LED market through these differences and changes.
Figure 1 Distribution of net profit increase and decrease of LED listed companies in the third quarter of 2012
LED backlight market demand is strong
This week's report has repeatedly analyzed the market development of LED TV sets. The current LED TV market is developing rapidly. The penetration rate of the LED TV market in the LCD TV market is expected to increase from 40% last year to 70% this year. Above, from the sales of TVs released by TCL Group in September, the sales volume of LED TVs has accounted for more than 80% of the sales of LCD TVs. The rapid development of the LED TV market has provided the impetus for the growth of LED backlight manufacturers. Ruifeng Optoelectronics expects that the net profit attributable to shareholders of listed companies from January to September will be 33.303 million yuan to 38,835,800 yuan, a year-on-year increase of 20% to 40%. The main factor is the large-scale growth of large and medium-sized backlight LED sales. Quarterly revenue and net profit growth is expected to exceed 100%. In the first quarter of this year, Ruifeng Optoelectronics' net profit decreased by more than 50% year-on-year. The performance has reversed so much in a short period of six months, and the improvement of downstream market demand has contributed. Jufei Optoelectronics, which produces small and medium-sized LED backlight devices, also benefited from the good performance of the downstream consumer electronics market (especially the smartphone market growth rate remained above 40%, Figure 4), and in terms of large-size backlights It has also begun to supply some TV manufacturers. The company expects the net profit attributable to shareholders of listed companies from January to September to be 65,421,400 to 7,75,750,000, an increase of 5% to 20%.
Figure 3 Changes in the net profit of Ruifeng Optoelectronics from the first quarter to the third quarter of 2012
From the comparison of the investment sources and distribution of new LED industry planning in the first half of this year and the first half of last year (Figure 5), it is not difficult to find that the focus of new investment in LED industry this year has shifted from upstream raw materials and chips to LED packaging and Application area. It can be seen that the sluggish demand for the upstream raw materials and chip market is based on the huge production pressure brought by the large-scale upstream industry investment last year and the pressure of market competition. Nanda Optoelectronics, which experienced a sharp decline in performance in August, is the best example. The company's latest results announcement shows that the net profit attributable to shareholders of listed companies from January to September was 74 million to 78 million, down 51.02% to 53.53% year-on-year. The main factor that the company analyzed its decline in performance was the slow growth of MO source market demand. The market supply increased, and the product price fell by the expected output. In the third half of the year, the company’s third-quarter results showed that there was no sign of improvement in the third-quarter results of Silan Micro, Huacan Optoelectronics and Ganzhao Optoelectronics. It is expected that this situation will continue for a long period of time, waiting for the downstream market to increase its volume. The increase in demand for chips will only ease.
From October 22 to October 31, the three quarterly reports of listed companies began to be released. According to the released performance forecast, there are 10 pre-increased net profit of 25 LED listed companies, accounting for 40% of the total (Figure 1), which is slightly higher than the performance of the mid-year report (Figure 2). However, this does not mean that the situation of the entire LED market has improved. There are obvious differences in the performance of companies in different market segments. This paper mainly analyzes the current demand situation of the LED market through these differences and changes.
Figure 1 Distribution of net profit increase and decrease of LED listed companies in the third quarter of 2012
Source: Gaogong LED Industry Research Institute (GLII)
LED backlight market demand is strong
This week's report has repeatedly analyzed the market development of LED TV sets. The current LED TV market is developing rapidly. The penetration rate of the LED TV market in the LCD TV market is expected to increase from 40% last year to 70% this year. Above, from the sales of TVs released by TCL Group in September, the sales volume of LED TVs has accounted for more than 80% of the sales of LCD TVs. The rapid development of the LED TV market has provided the impetus for the growth of LED backlight manufacturers. Ruifeng Optoelectronics expects that the net profit attributable to shareholders of listed companies from January to September will be 33.303 million yuan to 38,835,800 yuan, a year-on-year increase of 20% to 40%. The main factor is the large-scale growth of large and medium-sized backlight LED sales. Quarterly revenue and net profit growth is expected to exceed 100%. In the first quarter of this year, Ruifeng Optoelectronics' net profit decreased by more than 50% year-on-year. The performance has reversed so much in a short period of six months, and the improvement of downstream market demand has contributed. Jufei Optoelectronics, which produces small and medium-sized LED backlight devices, also benefited from the good performance of the downstream consumer electronics market (especially the smartphone market growth rate remained above 40%, Figure 4), and in terms of large-size backlights It has also begun to supply some TV manufacturers. The company expects the net profit attributable to shareholders of listed companies from January to September to be 65,421,400 to 7,75,750,000, an increase of 5% to 20%.
Figure 3 Changes in the net profit of Ruifeng Optoelectronics from the first quarter to the third quarter of 2012
Source: Gaogong LED Industry Research Institute (GLII)
From the comparison of the investment sources and distribution of new LED industry planning in the first half of this year and the first half of last year (Figure 5), it is not difficult to find that the focus of new investment in LED industry this year has shifted from upstream raw materials and chips to LED packaging and Application area. It can be seen that the sluggish demand for the upstream raw materials and chip market is based on the huge production pressure brought by the large-scale upstream industry investment last year and the pressure of market competition. Nanda Optoelectronics, which experienced a sharp decline in performance in August, is the best example. The company's latest results announcement shows that the net profit attributable to shareholders of listed companies from January to September was 74 million to 78 million, down 51.02% to 53.53% year-on-year. The main factor that the company analyzed its decline in performance was the slow growth of MO source market demand. The market supply increased, and the product price fell by the expected output. In the third half of the year, the company’s third-quarter results showed that there was no sign of improvement in the third-quarter results of Silan Micro, Huacan Optoelectronics and Ganzhao Optoelectronics. It is expected that this situation will continue for a long period of time, waiting for the downstream market to increase its volume. The increase in demand for chips will only ease.
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