MicroLED market gradually fermented led chip expansion back to normal track

The Micro LED market is gradually fermenting, and the expansion of chip-end production has returned to the normal track. 2018, the supply and demand of the industry have increased in relative 2017, and the overall supply and demand of 18H1 are relatively balanced. From the demand side, the lighting market is still the main growth force of the LED market, which is expected to maintain rapid growth; The mini/micro LED market is gradually fermenting by the MicroLED market. The expansion of chip-end production has returned to the normal track. The supply and demand of the industry have increased 2018 2017, and the overall supply and demand of 18H1 are relatively balanced. From the demand side, the lighting market is still the main growth force of the LED market, which is expected to maintain rapid growth; The mini/microLED market is gradually fermenting and is expected to open up the LED market space. It is suggested to continue to pay attention to the breakthrough of core technology and the rhythm of mass production. From the perspective of the supply side, there are still many knowhow in the production of LED chips, and the efficiency gap between different manufacturers is large. We expect that under the condition that the industrial production capacity increases relatively orderly, the price will remain orderly and benefit the industry leader; The patent litigation between Veeco, AMEC and SGL reached a settlement, and the chip-side capacity expansion progress returned to normal. The LED industry maintains single-digit growth. Major LED Enterprises ( Including Cree, Crystal, Yiguang, Seoul Semiconductor, Sanan Optoelectronics)The total revenue reached 13 in 3Q17. $9. 6 billion, an increase of 4. 72. In January, major LED enterprises in Taiwan stocks achieved a total revenue of 74. 9. 6 billion New Taiwan dollars, an increase of 3. 67, an increase of 2. 16; Affected by the off-season and the Lunar New Year holiday, the monthly shipments of Jingdian and Guangding decreased in January, and the monthly revenues of Taiwan's LED chips and lighting companies fell by 1. 90 and 36. 94; Downstream packaging leader Yiguang's product structure adjustment has achieved remarkable results. In January, the monthly revenue of Taiwan's LED packaging enterprises increased by 11. Dynamic Tracking of the industrial chain, the chip side: the patent lawsuit between Veeco, AMEC and SGL reached a settlement, according to the research situation, the mainstream chip price stabilized in the first quarter, and will remain orderly. Packaging end application end: Sanan Optoelectronics signed a MicroLED advance payment agreement with Samsung. Samsung and Wanda Film unveiled China's first LED movie screen. In January, LED bulbs and packaging prices remained stable. Monthly Market Performance: LED sector bottomed out, last month, the Shanghai composite index fell 6. 00; Thanks to the settlement of the US Veeco, China micro semiconductor and Sigri carbon lawsuit, the mainland LED sector rebounded, with LED chips, LED packages, LED lighting and LED display panels rising by 10. 16, 3. 92, 2. 48 and 10. 94. Major domestic LED enterprises all rose, with Huacan Optoelectronics rising to 31. 5. It is suggested to pay attention to LED chip leader Sanan Optoelectronics and Huacan Optoelectronics, LED small-pitch packaging leader Guoxing Optoelectronics, packaging leader Ruifeng Optoelectronics, LED small-pitch display leader liade and Zhou Ming technology. (