LED industry chain integration experiences 'blind spot' to 'hot spot'

The so-called industrial chain integration is a process in which a leading enterprise in the industrial chain links adjusts and optimizes the relationship between related enterprises, so that they can act together to improve the operational efficiency of the entire industrial chain and ultimately enhance the competitive advantage of enterprises. At present, the integration of industrial chain in LED lighting industry is a trend, a trend, and a real hot spot. Looking through the annual reports of listed companies in the first half of 2013, it is not uncommon to see words and words such as acquisitions, mergers and acquisitions, joint ventures, capital injections, and shares. The specific examples of industrial chain integration are countless. For example, Sanan Optronics, the domestic leader of chips, wrote in the semi-annual report of 2013 that: as soon as possible, the company will implement and complete the participation of Taiwan's Tianyuan Optronics and the acquisition of American lumen equity, and further improve the quality of the company's products, improve product structure, enhance core competitiveness and brand influence. In the downstream application field of LED, Sanan Optoelectronics is also a frequent action, attracting attention. On the one hand, Sanan Optoelectronics and sunshine lighting jointly established Xiamen sunshine Sanan Lighting Technology Co. , Ltd. with a registered capital of 30 million RMB, and Sanan Optoelectronics and sunshine lighting invested 40 and 60 respectively, the business scope of the joint venture company covers the research and development of new LED light sources, new lighting products and the development of lighting market channels. On the other hand, Sanan Optoelectronics also announced that it will work with Jiawei to build an LED application company with a total investment of more than 1 billion yuan. The activity of the integration of the industrial chain of other listed companies is also high, and there is a tendency for you to catch up. For example, as the radar love that the lighting industry paid attention to at the beginning of the year, new actions have recently come out. Dehao Runda announcement: it is planned to jointly invest with NVC Lighting to set up a LED (Light emitting diode)The company that encapsulates the business. Among them, Dehao Runda contributed 40. 8 million yuan in cash, NVC Lighting contributed 39. 2 million yuan in evaluated equipment and cash, with a shareholding ratio of 51 and 49 respectively. For example, Ruifeng Optoelectronics, a large domestic packaging manufacturer, announced that it will jointly invest 0. 2 billion yuan with TCL Group and Yuxing Enterprise, a wholly-owned subsidiary of Taiwan's Yuyuan Optoelectronics, to establish Huarui Optoelectronics Technology (Huizhou)Limited company. However, Jiangxi Lianchuang Optoelectronics announced that it would acquire the equity of Shanghai Xinmao 51 with 16. 72 million yuan and lay out the LED business in east China. Industry veterans said: as a new generation of light sources, LED is not only a product revolution, but also an industrial revolution. In this revolution, it will be very difficult for any enterprise to move forward alone. Only by integrating resources and relying on each other can enterprises live better and go further. Who to go with decides how far you can go, as the saying goes: how far a person can go, see who he is. The same is true of cooperation and game between enterprises. The integration of the industrial chain is committed to tightly linking enterprises in different links of the industrial chain through the power of capital or the goal of win-win, and in the later cooperation, it will have the effect of both prosperity and loss. Therefore, the integration of the industrial chain sounds very beautiful and looks very good, but there are thorns and risks behind it. In fact, in addition to the integration of the industrial chain, any form of cooperation between listed companies has both positive and negative sides and needs to be treated with caution. After the semi-annual report was released in 2013, many media began to pay attention to the performance of NVC Lighting and Dehao Runda, which announced their love affair in a high profile. On August 29, NVC Lighting released the performance report for the first half of 2013. The report shows that NVC Lighting achieved revenue in the first half of the year. 8. 9 billion yuan, up 4. 6; The net profit attributable to shareholders of listed companies should be 8123. 40 thousand yuan, up 92. 3. According to the report of Dehao Runda in the middle of 2013, Dehao Runda realized operating income of 13. During the reporting period. 5. 3 billion yuan, a year-on-year increase of 10. 52; The net profit attributable to shareholders of listed companies should be 5050. 10 thousand yuan, down 59 from the same period last year. 38. In the first half of the year, the net profit of shareholders, NVC rose by 92. 3, Dehao Runda fell by 59. 38, the two are far apart. Therefore, some media began to question the value of cooperation between the two sides. Another reason for the media to question the cooperation between the two sides is the NVC created by the two sides. The overall performance of Dehao brand in the channel market is too dull. Although currently you can see NVC in the terminal market. Dehao's brand image specialty store, but in terms of the overall channel layout and market activity, the performance is not outstanding. It is reported that by the end of 2012, NVC Lighting had 3231 specialty stores nationwide, with a prefecture-level city coverage rate of more than 97. As an excellent brand in the lighting industry, how does NVC Lighting balance NVC and NVC in the Channel. Dehao's relationship is also one of the factors that some industry insiders have questioned whether the cooperation between the two sides can bring a win-win situation. Of course, at this stage, it is too early to determine whether the cooperation between NVC Lighting and Dehao Runda can win. However, at a time when many listed companies are actively seeking cooperation and sharing resources, it is important and necessary to choose partners.