The high-speed development of LED industry is accelerating the integration of subdivision links

The CPC Central Committee and the State Council recently issued the National New Urbanization Plan (2014-2020)'(Hereinafter referred to as 'planning'). As a macro, strategic and basic plan to guide the healthy development of urbanization in the country in the coming period, the plan will have a positive effect on many industries including LED industry. 2013- 2016 is the golden development period of LED lighting. The penetration rate will increase from 20 to about 45. It is a rare industry with fast growth and high certainty. After technological progress and industrial upgrading are accelerated and costs are greatly reduced, the application scope of LED products is continuously increasing and the market scale is expanding day by day. 3 ~ Within 5 years, the compound growth rate of LED lighting demand scale will reach 30 ~ 40. Demand initiation and policy promotion, LED industry driving force changes from backlight application to lighting application, 2013 ~ In 2016, the penetration rate of LED lighting will increase from more than 10 to about 50, driving the entire LED lighting industry chain into a high boom cycle. Third, the competition pattern has changed, and LED production capacity has gradually shifted from the United States, Japan and the European Union to mainland China, Taiwan and South Korea. Fourth, the speed of industrial integration has obviously accelerated, the industrial concentration has gradually increased, and the industry leaders with core technological advantages, channel advantages and scale advantages have grown rapidly. [Img] /Uploads/allimg/140329/22-14032Z936493X. Jpg [/Img] Qilu Securities said that in the long run, the lighting penetration rate will accelerate, with an estimated 2013 ~ In 2016, the penetration rate of LED lighting will increase from more than 10 to about 50, driving the entire LED lighting industry chain into a high boom cycle. In addition, the upstream and downstream links of the medium and long-term LED industry chain have investment value: from the value chain and development trend of the lighting industry, the current LED epitaxial chip profit accounts for about 70, and the packaging link is about 10 ~ 15, and the application link is about 10 ~ 20, the chip link at the front end of the value chain occupies a very high added value. With the promotion of LED application and brand service status, the added value of downstream application and brand service will gradually increase. We believe that the investment value of chips and lighting appliances at both ends of the medium and long-term LED industry chain has the investment value in the short and medium term. From the perspective of the development trend of the industry, the LED industry is accelerating its integration, and the investment opportunities in the rapid growth of advantageous enterprises in the subdivision link: the integration speed of the LED industry is obviously accelerating, and the industrial concentration is gradually increasing, the leading segment of the industrial chain with core technology advantages, channel advantages and scale advantages will grow rapidly through extensive expansion.