LED lighting: 2014 industry boom and expansion is expected to resume high growth

2014 price decline is relatively limited, a single quarter decline of less than 5%. From the financial point of view, the industry continued to improve profitability, gross margin is expected to gradually stabilize. From a policy perspective, in 2014 the world entered the second wave of incandescent. 2014 LED lighting era, the industry inflection point upward, profit improvement, policy catalytic acceleration. 2014 industry boom and expansion of confidence will continue to rise, the industry is expected to resume high growth.

LED lighting: 2014 industry boom and expansion is expected to resume high growth

Focus on:

One: LED and the lowest price difference of nearly 1 times;

Second: the demand to enter the high elastic growth stage, the demand for price sensitivity increased significantly;

Third: the proportion of LED lighting applications will be proportional to the backlight output, is expected to reach more than 40%;

Fourth: 2014 price decline is relatively limited, a single quarter decline of less than 5%.

From the financial point of view, the industry continued to improve profitability, gross margin is expected to gradually stabilize. From a policy perspective, in 2014 the world entered the second wave of incandescent ban peak, accelerate the promotion of LED lighting related products. LED plate overall valuation is relatively low. Comprehensive comparison of the LED sector and other segments of the TMT plate valuation, the overall valuation of the LED sector is still in a low position, better than other segments of the electronics sector valuations, relatively safe. According to statistics, in 2014 the LED sector stocks valued at more than 20-25, the valuation is relatively low. 2014 LED industry merger integration is expected to continue, the upstream epitaxial chip and Mo source pattern is relatively stable, in the strong stronger era; downstream packaging applications still have a greater change, greater flexibility, higher security scale enterprises.