Interpretation of LED financial report in 2014: where is the industry 'watershed' market?

In March, LED listed companies successively released their 2014 financial reports and handed over their annual report cards. After a series of changes such as mergers and acquisitions, integration, expansion, and running away, LED replacement year ushered in an obvious growth rate of output value. From the financial report data, the upper, middle and lower reaches of the whole industrial chain basically enjoy the market dividend brought by LED's accelerated penetration, but on the one hand, the scale is expanded, on the other hand, the decline in the operating profit margin of enterprises caused by factors such as intensified market competition is also very common. How the LED market performed in 2014 is elaborated by selecting representative listed companies that have released their 2014 annual performance reports. Chip field: get rid of the release of sluggish production capacity. Judging from the data of listed companies that have released their financial reports for the third quarter of 2014, the operating income of all chip listed companies has increased significantly, and the profitability of enterprises has also begun to gradually increase. According to the analysis, the centralized release of demand in the chip market in 2014 made the whole supply of chip products in a shortage, while the release of production capacity brought about by timely investment and expansion of chip enterprises contributed a lot to the revenue of enterprises in the same period. Huacan Optoelectronics's operating income during the reporting period was 70,608. 160 thousand yuan, an increase of 123 over the same period last year. 30; Operating profit 1,160. 320 thousand yuan, an increase of 109 over the same period last year. 33; The total profit is 10,706. 960 thousand yuan, an increase of 942 over the same period last year. 59; Net profit attributable to shareholders of listed companies 9,090. 610 thousand yuan, an increase of 1,155 over the same period last year. 01. It can be seen that compared with 2013, Huacan Optoelectronics has a substantial increase in operating income, operating profit, total profit, etc. The report pointed out that driven by the lighting application market, the market demand for LED chips has maintained steady growth, and the price of chip products has stopped falling. At the same time, the first-phase construction project of Suzhou subsidiary has been gradually put into operation, and the production capacity has been significantly improved. The sales revenue and profitability have both increased compared with last year. Ushered in the shortage of the chip market, Huacan Optoelectronics production capacity released to catch up with the early set. Australia Shunchang release 2014 financial report Display LED business implementation business income 2. 4. 2 billion yuan, contributing 8,212 of the net profit attributable to shareholders of listed companies. 670 thousand yuan, accounting for about 48 of the net profit of listed companies. The report pointed out that the smooth progress of its LED phase I project has enabled the capacity expansion to exceed the design capacity, from 1. 8 million pieces/year to 2 million pieces/year, which has promoted the rapid growth of its LED business. In addition, Aoyang Shunchang has laid a solid foundation for its high profit margin in process research and development and technology reserve patent formation. With the innovation of technology and management, it has also brought its rapid growth. Dehao Runda, which has received much attention due to the NVC incident, said in its 2014 annual performance report that it achieved revenue of 41. 5% in 2014. 6. 5 billion yuan, a year-on-year increase of 33. 07; Operating profit-88,247,648. 21 yuan, while the total profit is 6109. 90 thousand yuan, net profit attributable to shareholders of listed companies was 1374. 480 thousand yuan, turning losses into profits. The production of the first phase project of Dehao Runda flip chip factory and the successive debugging and mass production of MOCVD equipment have significantly improved the production efficiency in the LED chip field and packaging field, and the shipments of LED chips and packaging products have increased substantially. achieve revenue growth; However, from the data of operating profit and total profit, corporate profits were greatly affected by the government subsidy policy during the reporting period. Compared with other listed chip companies, corporate profit margins still have a certain gap. From the analysis of the above Enterprise statistical revenue data, getting rid of the continuous market downturn, the chip industry has ushered in a stable growth stage. In 2014, the LED market scale increased significantly, and the enterprise revenue generally showed an upward trend. affected by capacity expansion and technology improvement, the price of LED chips is not enough, and the profits of chip companies are not high. At the same time, from the perspective of the overall market scale and the revenue of listed enterprises, the concentration of the chip industry has further intensified, and market resources have begun to be integrated into a few large enterprises. It can be considered that the stronger the stronger, the weaker will gradually form a pattern of thinking about change. industry development has reached a watershed.