The overall situation of LED, fat into sausage, said the Chinese LED too!

In the first three quarters of 2015, the national LED key listed companies' assets grew by more than the beginning of the year by 20.63%

As of the 3 quarter of 2015, the national LED in the main business of the 28 key assets of listed companies totaled 103 billion 894 million yuan, up 20.63% compared with the beginning of the year, the Jiawei shares asset growth reached 326.27%, growth of 108.38%, Mason technologies LIAN opto 87.42%, rectangular lighting 71.08%, photoelectric 53.98%, FSL 48.03%, Moso 43.50% 31.75%, MLS etc..

2015 LED expansion of Listed Companies in addition to the expansion of capital expansion, the most prominent is the merger of assets restructuring. According to incomplete statistics, 2015 LED industry mergers and acquisitions amount has exceeded 30 billion yuan (6 billion yuan in 2014, 2 billion 600 million yuan in 2013), the number and amount of mergers and acquisitions subject doubling, mergers and acquisitions covers the whole industry chain, horizontal mergers, vertical mergers and acquisitions, cross-border mergers and acquisitions, mergers and acquisitions overseas surging, the frequent LED listed companies or enterprises lead or lead heavyweight merger case.

Figure 1: as of September 2015, the national LED key listed companies assets and growth

2011-15 LED listed companies in key asset growth situation confirms the trend of Industrial Development

Since 2010, the rapid expansion of LED industry, 2011-2012 is the domestic LED industry rapid growth period, the domestic LED key listed companies on average assets growth was once as high as 42.79%, until the end of 2012, LED key assets of listed companies average year-on-year growth is still as high as 30.19%, in the meantime, many non LED companies have also reached the industry in China can LED industrial scale rapid growth. In 2013, LED industry is expanding steadily for a year, the scale of the industry tends to be mature, since the second half of 2014, domestic LED industry to fight constantly, and the regional structural overcapacity gradually emerging, industry integration, large scale effect period to the first half of 2014, the action LED enterprise constantly, expansion the expansion of the integration, integration, acquisition of the acquisition, growth of assets of listed companies is even more confirms this phenomenon.

Figure 2:2011 December -2015 LED key listed companies in assets grew year by year

LED scale expansion of listed companies, profit margins decline, fat sausage"

The rate of return on total assets in 2010 LED focus on listed companies and the rate of return on net assets were 15.52%, 28.97%, has a higher return on investment, with the expansion of enterprise scale and industry growth, investment yields declined year by year, 2015 1-9 month LED key listed companies roe and ROA is down to 5.62%, 3.44%.

Figure 3:2010-2015 LED key listed companies net assets yield and total assets yield changes

From 28 LED focus on listed companies, in 2015 sales gross margin was 30.89%, net profit margin of 10.23%%, from the trend point of view, the gross profit margin and net profit margins have declined, profit margins.

Figure 4:2010-2015 LED key listed companies sales gross margin, net interest rate changes

At this point, perhaps you will have doubts: LED industry has been a recession?

How to run the industry, and other industries in the same economic environment, compared to other industries to see the data, perhaps you should be congratulated!

National Bureau of statistics data show that in 2015 1-9 months, the national GDP grew by 6.9%, 1-11 months, the national scale industrial enterprises, the main business revenue grew by 1%. Statistics from the National Bureau of statistics of the 41 Industrial Enterprises above the scale of the situation, only one of the main business income of more than 10% year on year, the growth rate of less than 97.56% of the industry operating income of less than 10%. Among them, the 8 main business revenue fell, accounting for 20%; the growth rate of the same period in the growth of the industry in 0-6%, accounting for up to 50%.

Figure 5:2015 1-11 months of the country's 41 Industrial Enterprises above Designated Size of the main business revenue growth

1-11 months, the national industrial enterprises above Designated Size total profit fell 1.9%.

......

In the first three quarters of 2015, the operating income of the listed companies in LED was $32 billion 765 million, an increase of $14.52%, with a total profit of $440 million, an increase of $7.77%......

In contrast, although the LED industry overall yield decline, although the price of all kinds of LED industry constantly, although the market has run away business failures (of course this is not most), although we all feel not well done, but you look at some of the industry LED industry than we have good?! This growth level is still afraid to be worthy of the name of strategic emerging industries?! Fear is the sunrise industry, this hat is still a short time to pick up.

Globally, there is still room for demand for LED products, market penetration will continue to improve

2014, the global lighting market size of $145 billion, of which LED lighting market is $43 billion 500 million, LED penetration in the global lighting market is 29.9%. It is estimated that by 2020, the global LED lighting market will be more than 130 billion U.S. dollars, with an average annual growth rate of more than 20%, much higher than the global lighting market average annual growth rate of 6.07%.

Figure: 6: global lighting market and LED lighting market (unit: $one billion,%)

The next few years, the global penetration of LED lighting will accelerate the upgrade. Among them, the rapid opening of the home lighting market, is expected to rise from 20.64% in 2014 to $69.82%, which also means that the home lighting market will be the main market for LED lighting applications. Secondly, the industrial lighting market in LED applications will accelerate penetration, penetration