Shanghai Securities News, with the three quarterly launch and performance notice of a large number of disclosure, LED industry situation has clearly shown: industry competition intensified, gross margin declined to become a big trend, and through the merger to expand the scale of business is a lot of companies increase Thick performance of the main way. Analysts said the fourth quarter lighting industry into the season, is expected to LED lighting products prices will stabilize, the market share will further focus on the industry to focus, thus, mergers and acquisitions is still the industry's future hot spots and Aspect.
Gross margin declined to normal
In the third quarter, the results of the decline in performance, has released the performance notice of the million-technology, dry photoelectric, Hua Can photoelectric, flying photoelectric, South photoelectric, Foshan Lighting and other six LED companies are invariably attributed to "market competition , The company 's product sales prices, gross margin declined.
"Although the company's third quarter sales growth, and the acquisition of the photoelectric in June into the scope of the table, but by the market competition factors, the company's product sales prices, the third quarter gross margin declined, sales revenue growth To achieve the expected. "Wan Run technology to explain the reasons for the decline in performance in the third quarter. Wanrun technology performance notice shows that the first three quarters of this year the company net profit of 28,996,700 yuan to 34,113,800 yuan, down 0% to 15%.
And those who did not expand the performance of the company's decline in the expansion of more, in addition to "gross margin decline", the exchange rate changes and R & D investment is also one of the reasons for the decline in performance.
Despite the decline in gross margin, but with the arrival of the fourth quarter shipping season, LED industry is still worth the wait. Dongxing Securities Research reported that, with the gradual elimination of backward production capacity, LED lighting products prices will gradually stabilize, the market share will also focus on the industry leader.
Mergers and acquisitions are industry trends
Despite the general decline in gross margin, but in the announcement of the performance of the LED industry chain company, there are still more than half of the performance of pre-increase, and even most of the performance doubled. According to statistics, there have been seven companies within the industry announced a pre-release notice, which Jia Wei shares in the third quarter results increased by 146.28% to 175.07%, Chau Ming Technology third quarter results by 125% to 147% Performance pre-increase 103.39% to 116.51%, Riard expected growth of 90% to 110%.
On the whole, the industry chain and cross-industry mergers and acquisitions, expansion and table range is the main reason for the growth of the company's performance. Such as the joint photoelectric said that the acquisition of the Sichuan Times Advertising Media Co., Ltd. in May into the scope of the table, the Shanghai Friends of the public relations consultants Limited and Shenzhen Yi Electronic Co., Ltd. in March into the scope of the table, thickening Performance; Li Yide said, Li Feng culture since July into the consolidated statement, Jin Lixiang since August into the consolidated statement. In addition, the long-term lighting acquisition of Shenzhen Kang Ming Sheng Technology Industrial Co., Ltd. since April and table, Jia Wei shares of the performance growth comes from its acquisition of Jiangsu Huayuan New Energy Technology Co., Ltd..
"LED industry mergers and acquisitions, integration in the next period of time will also maintain a high heat state." A survey of the industry said.
According to incomplete statistics, Wanrun Technology, Lian Jian Optoelectronics, Li Yade, Jia Wei shares, Dehua Runda, ground on the photoelectric six LED industry chain companies are suspended, planning major issues. In addition, several companies have released M & A plans.
Analysts said that with the decline in gross profit in the LED industry, bid farewell to the brutal growth, mergers and acquisitions within the industry consolidation intensified, which is conducive to the improvement of industry concentration, for those with technical and scale advantages of the leading companies is also a good growth and expansion opportunity.