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

In March, LED listed companies successively released their 2014 financial reports and handed over their one-year 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. Judging from the financial report data, the upper, middle and lower reaches of the whole industrial chain basically enjoy the market dividend brought by the accelerated penetration of LED, but on the one hand, the scale is expanded, on the other hand, the operating profit margin of enterprises is also very common due to factors such as intensified market competition. How the LED market performed in 2014 is described in detail by selecting representative listed companies that have released their 2014 annual performance reports. Chip field: get rid of the sluggish production capacity release. According to the data of listed companies that have announced their financial results for the third quarter of 2014, the operating income of listed companies of various chips has increased significantly, and the profitability of enterprises has also begun to gradually increase. According to the analysis, the centralized release of the demand in the chip market in 2014 made the supply of the whole chip product in a state of shortage, while the release of production capacity brought about by the timely investment and expansion of chip enterprises in the same period contributed a lot to the enterprise's revenue. Huacan Optoelectronics's operating income during the reporting period was 70,608. 160 thousand yuan, up 123 from the same period last year. 30; Operating profit 1,160. 320 thousand yuan, up 109 from the same period last year. 33; The total profit was 10,706. 960 thousand yuan, up 942 from the same period last year. 59; Net profit attributable to shareholders of listed companies 9,090. 610 thousand yuan, up 1,155 from the same period last year. 01. It can be seen that compared with 2013, Huacan Optoelectronics has increased significantly in terms of operating income, operating profit and total profit. The report points 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 of the construction project of Suzhou subsidiary has been gradually put into production, and the production capacity has been significantly improved. The sales revenue and profitability have both increased compared with last year. In the face of a shortage in the chip market, Huacan optoelectronic production capacity was released to catch up with the early gathering. 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 LED to the expansion of production capacity exceeding 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 patent formation of technology reserves. With the innovation of technology and management, it has also brought about its rapid growth. For NVC storm and much attention of de hao run da in 2014 of performance report in said 2014 of implementation revenue 41. 6. 5 billion yuan, up year on year. 07; Operating profit-88,247,648. 21 yuan, while the total profit was 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 dehaorunda flip chip factory and the commissioning 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 significantly, achieve revenue growth; However, judging from the data of operating profit and total profit, the profit of enterprises during the reporting period was greatly affected by the government subsidy policy, and there was still a certain gap in the profit margin of enterprises compared with other listed chip enterprises. Judging from the above analysis of 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 grew significantly, and enterprise revenue generally showed an upward trend, affected by capacity expansion and technology improvement, LED chip prices are not motivated to rise, and Chip enterprises' profits 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 strong, the weaker will gradually form a pattern of thinking about changes, industry development has reached a watershed.