LED lighting company revenue growth accelerated

2013Q4 Philips LED lighting business revenue increased 48 year-on-year. Osram also said that LED lighting business 2013Q4 sales increased 28 year-on-year. In 2013, CREE's lighting revenue also accounted for 36. The demand for TV backlights is also expected to pick up due to the continued increase in screen size, the increase in direct backlight penetration and the increase in TV resolution. In addition, according to the Revenue released by LED related companies in Taiwan in January 2014, it generally shows a trend that the off-season is not weak. The risk of market correction does not change the trend of the industry. According to the judgment of UBS strategy group, after the two sessions, the market may face some risks, for example, the risks of lower-than-expected results disclosed in policies, economy, IPO issuance, annual reports and first-quarter reports, but we believe that short-term systemic risks will not change the prosperity of the industry. On the contrary, if the stock price falls due to systemic risks, we think it will increase the attractiveness of the sector instead. We still suggest to focus on the relevant investment opportunities in the LED industry.