Low carbon economy bright green lighting sector concerned about the LED industry chain

Although green lighting is not conspicuous in the low-carbon sector, but considering the huge number of global lighting demand, analysts believe that the green lighting D lighting plate L E technology as the representative of the Copenhagen conference, will also be with the approaching and gradually warming.

Lighting upgrade LED huge opportunity

Century securities research report said that in the future, with the maturity of the technology of L E D general lighting, lighting upgrade engineering industry opportunities. According to the German World Population Fund (D SW) estimates that in 2012 the world's total population is expected to exceed seven billion people. If the global demand for general lighting lamp bulb 15 per capita use calculation, the total amount of general lighting demand will reach 105 billion global future, with 21 pieces of machine, each year 25 thousand tablets, each 5 thousand tablets equivalent to 840 sets of machine capacity of this massive demand estimates will appear in 2010.

Century Securities believes that, for now, the global LE D industry in the basic balance of supply and demand in the existing application areas. With the development of technology in the future, one will reduce the price of products, the two is the technical progress led to L E D in the field of general lighting, including extensive use, will lead to a substantial increase in demand. Supply and demand in the future will be expected to shift from supply and demand balance to demand.

China has successively launched a green lighting engineering, semiconductor lighting engineering, research and development in the ten major energy conservation projects, demonstration projects, high technology industry technology upgrading and structural adjustment, the 863 special plan in the field of new materials has also supported semiconductor lighting technology and industrialization projects, initially formed a complete industrial chain. 2008 China's semiconductor lighting output value of nearly 70 billion yuan, of which the chip output value of 1 billion 900 million yuan, packaging output value of $18 billion 500 million, the output value of the application of the product 45 billion yuan.

At the same time, the scale of industrialization of the development of China's LE D industry has improved. 2008, LED shows a large number of enterprises in the application industry and performance significantly improved, the industry reached 25 yuan in sales of hundreds of billions of enterprises, of which there are more than 200 million yuan sales of more than $7. Overall, the industry development of LE D application industry has reached the level of scale, the development of key technology products is relatively mature, the overall quality and reliability of products has been significantly improved.

Policy to promote green lighting

With the promotion of "low carbon economy", the green lighting has been paid much attention by governments. In order to achieve a low carbon economy in the lighting field, governments have put forward and implement green lighting projects, have developed policies to support the development of LED lighting industry.

The United States from 2006 to 2011 each year arranged $50 million for semiconductor lighting plan (N G LI) technology research and development. In 2010, the United States will have 55% of incandescent and fluorescent lamps are replaced by semiconductor lamps, saving $35 billion per year. Japan in 2003 began the implementation of semiconductor lighting program second. LE white light is expected in 2010 D luminous efficiency of 120lm /w, by 2020, hoping to replace 50% of all incandescent and fluorescent lamps. Europe plans to use LE 2020 D luminous efficiency of 200lm /w, energy consumption reduced by 20%.

By the end of 2008, the Ministry of science and the Ministry of Finance launched the Ten City million demonstration work, plans to promote more than 300 thousand LE D municipal lighting in the next year in the city of 10-20. In October this year, the development and Reform Commission and other six ministries issued "semiconductor lighting industry development views. According to the "opinions" the development of semiconductor lighting industry, by 2015, the output value of the semiconductor lighting industry with an average annual growth rate of around 30%; functional lighting can reach about 20%; enterprises significantly enhance the capability of independent innovation, the upstream chip scale production enterprises 3-5; industry concentration significantly increased, leading backbone enterprises with independent brands, large market influence about 10; to achieve annual saving 40 billion kwh, equivalent to 40 million tons of carbon dioxide emissions.

Focus on LED industry chain upstream enterprises

According to the distribution tendency of national policies, development goals and LE D industry profits, century Securities believes that the LE D lighting industry, the main investment in the leading technology, has the advantages of scale, LED is located in the upstream industry chain enterprises. Because the company is located in the upper reaches of LED, enjoy 70% of the industry's profits, can maximize the industry to share the high growth. The domestic LE D upstream business related listed companies, LIAN electronics, optoelectronics Silan, Tongfang, A large and Tianfu Thermoelectric etc..

However, in LE D lighting industry "overweight" rating at the same time, Xiangcai securities remind investors concerned about the investment risk. Xiangcai Securities believes that the Chinese government of LE D industry support, especially the implementation of "ten city lights" such a demonstration project, provides a valuable opportunity for the rapid development of China's LED industry, the application of LED technology in the huge market and the future development of low carbon economy further for the industry the development of open space. But it is very difficult to form a sound market by government investment alone. The current domestic LE D industry "fertilizer on thin" unbalanced situation, the domestic large number of LE D production enterprise with nearly one thousand companies located in the value-added packaging field is relatively low, while in the upstream LED chip has lagged behind in foreign countries and Taiwan LED manufacturers many, LED industry in China is still need to continue in the technology, price and performance breakthrough, in order to truly enter the homes of ordinary people, to share the feast of low carbon economy.

Xiangcai securities recommended investors pay close attention to the leading technology, hot pursuit of strength of enterprises. Investors in the process of discovering the value of investment