LED listed companies performed brilliantly, and mergers and acquisitions sang the main theme of the industry

by:ALLTOP      2020-03-09
According to statistics, according to the financial reports of listed companies, in the first three quarters of 2016, the total operating income of 26 A- share listed companies with LED as their main business was 45. 1 billion yuan, up year on year from 2015, in the ranking of revenue growth rate of 28 first-class classified sectors in Shenwan, LED sector ranks second, second only to real estate, and at the same time far higher than the overall average A- share level. From the perspective of industry, Enterprise and Technology, the development of semiconductor lighting industry in 2016 is reviewed and prospected in a panoramic way. In terms of enterprise development, listed companies have outstanding performance and mergers and acquisitions have become the main theme. I. Outstanding performance of listed companies according to statistics, according to the financial reports of listed companies, in the first three quarters of 2016, the total operating income of 26 A- share listed companies with LED as their main business was 45. 1 billion yuan, compared with the year-on-year growth of 33 in 2015, in Shenwan 28 first-class classification plate revenue growth rate ranking, LED plate ranked second, second only to real estate, while far higher than the overall A- share average level; The accumulated total profit reached 5. 9 billion yuan, up year-on-year, and the growth rate of revenue and profit both returned to high points. In the first three quarters of 2016, the overall profitability of LED listed companies improved slightly. Sales Gross profit margin and operating profit margin have both rebounded, with 26 LED listed companies having a gross profit margin of 28. 4 (Compared with the same period last year, it increased by 0. 4 percentage points), Operating profit margin is 10. 5 (Compared with the same period last year, it increased by 0. 3 percentage points); Enterprise net profit margin by taxes and fees adjustment (Short-term impact of camp reform) , Subsidies and other factors, down by 0. 5 percentage points. II. Merger and acquisition integration singing the main theme of the industry in 2016, there were 40 important merger and acquisition integration transactions in the semiconductor lighting industry, among which the total transaction amount disclosed exceeded 22 billion yuan. The integration direction is not only vertical integration within the industry (Transaction amount accounted for 37), There are also cross-border integration of different industries (Transaction amount accounted for 63)At the same time, overseas mergers and acquisitions are frequent (Transaction amount accounted for 17). 1. Vertical integration extends business areas. For example, after the layout of sapphire and solar energy, Sanan has been actively developing in LED automobile lighting and plant lighting in the past two years, and has also made forward-looking deployment in the fields of radio frequency application of the third generation semiconductor materials and integrated circuits, formed a strategic layout around semiconductor lighting and its industrial chain extension; In addition to the acquisition of super-time light source layout filament lamps, Jason has successfully acquired Osram's light source business LEDVANCE, and at the same time through the increase in the development of crystal will purui (Bridgelux) In the pocket, and increased the capital of Huai'an Aoyang Shunchang, completed the entire industrial chain layout of LED chips, devices and applications. 2. Cross-border integration to enhance profitability. Enterprises have implemented the LED strategy, and the two main businesses are in parallel. For example, Lianjian Optoelectronics invested in the tree bear network, Lehman Optoelectronics acquired Huashi new culture and the Newcastle Jets Football Club in Australia, and Wei Wei Co. , Ltd. purchased Guoyuan electric power, and qinshang Optoelectronics purchased three education companies including Longwen. 3. Overseas mergers and acquisitions acquire brands and expand the international market. For example, Liad rapidly expanded the international market in North America and other countries through the acquisition of American NP company with strong profitability in VR/AR field, and accelerated the realization of the strategic goal of balanced development of overseas and domestic performance; Through the acquisition of Osram's light source business LEDVANCE, Jason has obtained the ten-year brand license and patent license of Osram light source, helping Jason to expand the light source business, cross the patent barrier and realize overseas market expansion. Unfortunately, Fujian Hongxin investment fund is 6. The 0. 7 billion euro acquisition of aisiqiang was terminated due to obstruction by the US government. Although overseas mergers and acquisitions are not smooth, China's semiconductor lighting companies have deeply participated in international competition. 4. Divest the business and adjust the strategic layout. For example, Tongfang Company has further implemented the industrial layout with progress and retreat by transferring the 100 equity of its wholly-owned subsidiary Nantong semiconductor and Shenzhen multimedia, gradually shrink and peel off some businesses with low gross profit margin and fierce market competition, adjust the organizational structure, and increase efficiency and tap potential. Dehao Runda sold the equity of the subsidiary to divest the international lighting business, and rationally adjusted the lighting business to better focus on and expand the lighting business within the country.
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