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LED industry: the overall performance of supply and demand b

First, the overall performance of the industry have a good news
The domestic LED industry in 2016 annual report and 2017 1 quarterly report has been released, the overall performance have good news. Which in 2017 1 quarterly, 43 LED listed companies in the 40 revenue growth, 35 LED companies 1 quarterly net profit attributable to growth, which net profit growth of more than 30% of the listed companies up to 27, Accounting for more than 60%.
Nearly five years of LED industry revenue and net profit trends show that before 2016 due to the end of the LED application, the middle LED package beads and LED chip upstream, all in the price decline and sales trend, so the overall revenue is still growing , Only the slowdown in growth. Data show that revenue growth from 2015 to stabilize the first, while the return of net profit growth continued to decline until the first quarter of 2016, net profit growth began to rise. 2016 LED listed companies total revenue reached 160 billion yuan, the growth rate of more than 25% to 2017 1 quarter of the industry as a whole revenue growth and wealth growth rate of more than 30%, hit a new high of nearly 5 years.
Second, the industry trend to a solid and reliable
From the LED industry in 2016 and 2017 1 quarter report, we observed that the core financial indicators of listed companies all show a significant improvement trend, the core indicators, including ROE, revenue scale and growth rate, the net profit and growth rate, gross margin, net Profit and operating cash flow. LED industry trends to a solid financial data as a valid, more determined We are optimistic about the LED industry trends in the confidence.
From the trend can be seen, before 2015 due to the rapid growth of supply industry, leading to the industry as a whole in an oversupply situation, the industry as a whole return on net assets declining, 2012 to 2016 decline in more than 40%. So small and medium enterprises and backward production capacity to withdraw from the supply side of the clear, industrial concentration to enhance the industry to enhance the barriers. 2016 began LED industry upstream industry subsidies subsidy slope, slowdown in production capacity, and the downstream incandescent blockade and the demand for small gap between the outbreak triggered the LED downstream demand, the three together began to reverse the LED industry supply and demand pattern, 2017 1 quarter Industry average ROE year on year increase by 20% to 1.8%. Has clearly reflected the LED industry's overall profitability upgrade.
Third, the global LED manufacturing to China
The global trend of LED manufacturing to China has been unquestionable, China's electronics industry in the years of accumulation has been fully equipped with excellent process control and cost management capabilities, while the engineer dividend is also gradually released to promote Chinese enterprises to develop and have more The international advanced technology of independent intellectual property rights, with the international manufacturers of technological progress bottlenecks and slow down, Chinese enterprises will make full use of national policies, industrial capital and engineers dividends and many other advantages, to achieve the development of the final will overcome the traditional international Plant, and become the industry leading the development of beach-goers
Fourth, firmly optimistic about the industry leader
Continue to be optimistic about the LED industry leader, industry rating "overweight." We firmly optimistic about the LED chip industry Big Three: San'an Optoelectronics, Hua Can photoelectric, Australian Ocean Shunchang. LED packaging giant: wood Linsen. In the LED industry continues to improve and the concentration of continuous improvement in the trend, the leading will continue to give priority to benefit.

This article is edited by screenopto

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