Since 2009, China's LED chip industry has developed rapidly, and the industry's output value has increased from 2 billion yuan to more than 10 billion yuan. In 2015, the scale of China's LED chip industry continued to grow. The annual output of LED chips increased by 60%. However, due to the intensified competition in the industry and the impact of the slowdown in China's economic growth and weak demand in the US and Europe, chip prices have fallen by a large margin. It is expected that the demand for LED chip industry in China will continue to increase in 2016, and the price of chips will slow down. The growth rate of the chip industry in the whole year will accelerate. With the integration of the industry and the exit of small enterprises, industry enterprises with a certain scale will usher in new development opportunities.
China's mainland LED chip companies are highly competitive and have expanded production. Sanan Optoelectronics dominates the industry; Tongfang Optoelectronics and Dehao Runda's production capacity is continuously released, and production is improved; Huacan Optoelectronics has expanded frequently, and revenues have grown rapidly; dry-light photoelectrics are extremely active, and there is a tendency to rise; Shunchang shows the true color of "black horse", LED business is stable and advanced; Jingneng Optoelectronics adheres to technological innovation and actively competes for the third pole of China's LED chip market. The pattern of “one super and many strong†has taken shape and they have seized each other from each other.
01 "Crazy" expansion of Sanan Optoelectronics highlights the industry's "leading" momentum
Speaking of LED chips, you have to mention Sanan Optoelectronics. In recent years, Sanan Optoelectronics' revenue has risen year by year. From January to September 2015, Sanan Optoelectronics' revenue reached RMB 3.6 billion, exceeding the total of seven manufacturers. The distance between Sanan and other chip manufacturers is getting bigger and bigger, and the effect of economies of scale is becoming more apparent.
Sanan Optoelectronics chip has basically occupied half of the domestic small and medium power package light source, although in terms of high power, there is still a certain gap compared with chip companies such as wafers, but for small and medium power products, Sanan Optoelectronics The products have reached the international leading level in terms of brightness and stability. At the same time, due to the price advantage, Sanan Optoelectronics has become the first choice for domestic packaging factories such as Mulinsen.
At the same time, in overseas markets, Sanan Optoelectronics is also actively promoting cooperation with foreign companies. For example, in cooperation with Seoul Semiconductor, the LED chip overseas OEM business will be gradually deployed. In the field of applied products, Sanan signed a large-scale procurement cooperation agreement with Anxin Energy, which reportedly reached a total of 4.5 billion.
In addition, Sanan Optoelectronics actively expanded its expansion through capital operations. According to the announcement of Sanan Optoelectronics, the company plans to issue about 235 million shares to 10 specific targets including Sanan Group at a price of not less than 16.58 yuan per share, raising funds of no more than 3.9 billion yuan, and then investing in Xiamen Optoelectronics. Industrialization (Phase II) project and communication microelectronics (Phase I) project. This move indicates that Sanan Optoelectronics officially entered the microelectronics market. In addition, Sanan Optoelectronics plans to raise 1.6 billion yuan through a total investment of 3 billion yuan for communication microelectronics devices to produce gallium arsenide high-speed semiconductor devices and gallium nitride high-power semiconductor devices. Sanan Optoelectronics will invest in the manufacture of gallium arsenide/gallium nitride semiconductors to fill the gap in China's manufacturing sector.
In addition, the channel layout has become the focus of Sanan Optoelectronics. Sanan expanded its channel and perfection by investing in its subsidiary Xiamen Sanan Industrial Co., Ltd., establishing a joint venture with Xiamen Xinda to establish Xiamen Sanan Cinda Financial Leasing Co., Ltd., and increasing its capital by 180 million to its subsidiary Wuhu Anrui. Rate, improve the company's operating performance.
The expansion rate of Sanan Optoelectronics' capacity can be said to be fast, and it is not known whether there is any hidden worry behind the frantic expansion. Judging from the current domestic situation of the LED chip industry, Sanan Optoelectronics’s “hegemony†status can no longer be shaken, but it should always be alert to the old chip manufacturers from Taiwan’s big factory Jingyuan Optoelectronics and international giants Ke Rui. Invasion.
02 Constantly increase the number of LED industry to show the "ambition" and determination of Tongfang Optoelectronics
With the gradual increase of the LED downstream application market, it has brought a positive drive for the development of the entire industry chain. The prices of all products in the LED industry chain are in a stage of rapid decline. Among them, the market price of LED chips has dropped by more than 70% in the past three years.
The fierce price competition has made the market more and more cruel, but due to the rapid improvement of technology and other aspects of domestic chip manufacturers, the gap between their own products and imported chips has been shrinking, which has brought a bigger market to domestic chip manufacturers. opportunity.
Tongfang entered the LED industry in 2004, acquired the company's LED chip back-end process technology through the acquisition of Singapore's TInggi, and built its own LED chip production line in Beijing. In 2010, Tongfang increased its investment in LED epitaxial chip manufacturing, set up 6 MOCVD machines in Beijing, and invested RMB 3 billion in Nantong to build LED industry bases and order 48 MOCVD machines. At present, Tongfang Optoelectronics already has 59 MOCVD machines, ranking fifth in China. These all show that Tongfang shares attach importance to LED epitaxial chips.
At the same time, Tongfang shares filled the lack of LED lighting products and packaging industry through the acquisition of Zhen Mingli. The joint venture of Tongfang and Zhenmingli has greatly improved the construction of a complete LED industry chain, which has further enhanced the competitiveness of enterprises in the LED field. At the same time, it is conducive to complementing the influence of brand in the global market, and taking advantage of the overall advantages of 1+1â€2 to meet the coming of the lighting industry brand and capital operation era.
Tongfang's shares involve a large number of business areas, LED business revenue is not large, and the growth space is large, but Tongfang Optoelectronics relies on the scientific research strength of Tsinghua University, and combined with the Chinese Academy of Sciences and some Taiwan R&D teams, successfully mastered the key technologies of the chip, and Apply for nearly one hundred patents at home and abroad. At present, Tongfang has mastered the LED core technology of high-brightness blue-green LED epitaxial wafer growth, high-brightness blue-green LED chip preparation engineering high-power chip, and epitaxial wafer industrial production.
Through the improvement of technical strength, the gap between LED chips produced by Tongfang Optoelectronics and Sanan, Jingyuan and Cree has been further narrowed. Its small-sized chips have been recognized by major packaging manufacturers, and the current output value of chips is huge.
From the import of Taiwanese manufacturers of LED chips to the road of self-production and sales, Tongfang has come along, and through a variety of integration and expansion, has formed a complete LED industry chain. At the same time, by strengthening its own strength and favorable price advantage, Tongfang Optoelectronics' market share is gradually increasing, and the company's performance has also risen.
03 Open the LED chip downstream, Dehao Runda reveals strength
In the first half of 2015, after the total amount of funds raised by Dehao Runda did not exceed RMB 4.5 billion for the “LED Flip Chip Project†and “LED Chip-Level Packaging Projectâ€, its industrial chain was upgraded and optimized to capture LEDs. The windshield of lighting applications has laid a solid foundation.
Dehao Runda raised funds to invest in new projects or related to the status quo of the LED industry. Dehao Runda passed the fund-raising plus-code LED flip chip project. One reason is that the competition of LED chips and packaged devices in the domestic market has entered a white-hot stage, hoping to get rid of the competitive quagmire through flip chip technology. Second, with LED chip technology The development is becoming more and more mature. International companies such as Philips, Cree and Osram have embarked on the LED flip chip technology route. Dehao Runda hopes to enhance its core competitiveness through the “LED flip chip†layout, and thus become the company's performance growth. point.
At the same time, with the fermentation of the OSRAM lighting business bidding event, Dehao Runda is also interested in bidding for the “Xiangxiang†of Osram Lighting Business Assets. The difference is that Mulinsen and Tongfang have been highly active in the early stage. Despite speculation in the industry, Dehao Runda has not clearly confirmed the bid for the OSRAM project. If the acquisition of Osram assets is successful, Dehao Runda will have more resources and access to the international high-end market, which will not only boost the confidence of NVC Lighting's overseas development, but also form a market and brand differentiation operation in the world. This combination from the epitaxial wafer, chip, package and even application, truly realizes the vertical and vertical integration of the industrial chain layout.
In addition, technically, Dehao Runda has been doing “simplificationâ€, such as simplification of packaging, gold-free FC packaging, removal of gold wire, simplified packaging process; simplification of FC chip, flip chip design and process Breakthrough, etc., to achieve "popularization"; through the development of flux-free gold-tin eutectic flip-chip welding technology, remove gold balls and flux, improve heat dissipation and quality.
With the increasing competition in the LED industry, many companies have fallen into a quagmire of losses, while the performance of Dehao Runda has been all the way. This not only reflects the competitive strength of the company, but also shows that the company's strategic policy is correct. In the LED epitaxial chip market, Dehao Runda uses its own way to impress the domestic packaging factory.
04 Dissatisfied with the "second child" Huacan photoelectric active expansion
In 2015, chip makers are concentrating on thinking about ways to find new breakthroughs. Stimulated by the booming LED industry in 2014, domestic well-known chip manufacturers continue to operate, and Sanan and Ganzhao Optoelectronics continue to expand their production. Each company has its own vision of market judgment and development strategy.
Deco Runda, Tongfang shares and other epitaxial chip factories have entered the downstream application field. However, Huacan Optoelectronics is not moving, insisting on focusing on the "core" world, not expanding the entire industry chain, the goal is to be a professional chip supplier, production. High quality LED epitaxy and chips.
Under the unfavorable situation that the price of LED chips continues to decline, Huacan Optoelectronics is responding to new changes in the market through innovative means such as technology research and development and cost control. It is understood that in the first three quarters of 2015, Huacan Optoelectronics continued to strengthen R&D investment and management, and upgraded its product performance to the international advanced level. The company's major R&D projects have made significant progress, and the market is the first to introduce “small pitch professional display chip†and “ A series of new products such as high-brightness red light chips, and at the same time do a good job in intellectual property protection of products.
At the same time, capacity expansion has become the killer of Huacan Optoelectronics. Following the Suzhou project, Huacan Optoelectronics announced on January 3, 2016 that the company plans to invest 6 billion yuan to build LED extension, chip and industrial chain extension projects in Yiwu Industrial Park. Huacan Optoelectronics said that the LED epitaxy, chip and industrial chain extension projects mainly focus on the construction of an internationally renowned LED industry base. The implementation of the project will drive the upstream and downstream of the LED industry chain and the agglomeration of supporting enterprises, which will help further expand the company's scale and cost advantages. Enhance the company's core competitiveness and industry influence.
In terms of production capacity, Huacan Optoelectronics is currently the second largest and the world's fourth largest LED chip manufacturing company in the world. Its plan will reach the top three in the world through expansion in the next few years, leading the industry. Huacan Optoelectronics This LED project is planned to enter Yiwu Industrial Park, and the Yiwu Industrial Park Management Committee initiated the establishment of LED industry M&A fund for the company's M&A integration in the LED industry chain, which will further deepen the company's development in the LED industry.
The position of the industry's "second child" is not the ultimate goal for Huacan Optoelectronics. Through the company's focus on creating a "core" and a positive capacity expansion model, Huacan Optoelectronics is "conspiring" leading position.
05 The active star of the chip field
The LED chip industry is generally not so calm, Sanan, Huacan and other big bangs have opened the attack mode, and the dry photo photoelectric also "can not stand the loneliness" and adopted the "crazy" expansion mode.
In the first half of 2014, the performance of Ganzhao Optoelectronics was not satisfactory. The company achieved a total revenue of 199 million yuan, a year-on-year decrease of 10.49%. In the face of increasingly fierce competition in the market, the capacity of red and yellow light of Zhanzhao Optoelectronics is not expanding, but the price is declining. It is even worse that LED lighting mainly uses blue light chips, and there is almost no demand for red and yellow light chips. As a result, the net profit of Ganzhao Optoelectronics has plummeted. Obviously, the last round of LED capacity expansion and product positioning, dry photo optoelectronics has lost a good time to develop.
In the face of major strategic mistakes, Ganzhao Optoelectronics quickly made adjustments, actively expanding the production capacity of the company's red and yellow light, and at the same time increasing the LED Blu-ray epitaxial chip business strength to catch up with the advanced level of the market.
On April 18, 2014, Ganzhao Optoelectronics invested 400 million yuan to expand the production of red and yellow LED light-emitting diodes. After three months of construction, the renovation of the project building and office building is nearing completion. Yangzhou Ganzhao Optoelectronics Co., Ltd. is in the field of ultra-high brightness LED epitaxial wafers and chips of red, yellow and orange quaternary systems. Its ultra-high brightness red and yellow epitaxial wafers, chip cost performance, production scale and product consistency rank first in the country. .
On July 24, 2014, Ganzhao Optoelectronics announced that the company plans to invest 5 billion yuan and add 100 MOCVD to build LED blue-green epitaxial wafer, chip and lighting industry projects. On September 4 of the same year, Ganzhao Optoelectronics plans to raise RMB 800 million to build an LED blue-green optical epitaxial chip industrialization construction project.
On July 17, 2015, Ganzhao Optoelectronics announced that it intends to invest in the Xiamen Free Trade Zone with its own capital of 50 million yuan to set up a wholly-owned subsidiary “Xiamen Gantai Kunhua Supply Chain Management Co., Ltd.â€. Based on the company's strategic deployment needs, Ganzhao Optoelectronics has established a wholly-owned subsidiary through the Free Trade Zone platform, which can effectively utilize regional resources and advantages, thereby expanding more business channels, enhancing the company's sustainable development and improving the company's revenue.
On December 28 of the same year, Ganzhao Optoelectronics announced that it plans to invest in a wholly-owned subsidiary “Zhangzhou Ganyu Photoelectric Co., Ltd.†with its own capital of 30 million yuan. The establishment of the subsidiary is based on the LED application capacity building, and complements the existing business of the company, gradually realizes the integration of the industry chain and enhances the company's sustainable development.
After realizing the strategic policy mistakes, the dry photo photoelectric adjustment strategy not only increased the expansion of the red and yellow optical epitaxial chip production capacity, but also actively entered the field of blue epitaxial chips. In the field of upstream chips, Ganzhao Optoelectronics has actively deployed and become an active star in the industry.
06 Developing a stable and seeking for the role of Aoyang Shunchang as a "black horse"
Compared with the crazy expansion of competitors, Aoyang Shunchang seems to be a lot calmer. Is it safe to be in the company? Or is it like a wise man to lay the board in a calm manner?
The LED chip industry is a capital and technology-intensive industry. Aoyang Shunchang has built a company based on its advanced and mature technology, based on the advanced LED technology and the company's leading core equipment and excellent management philosophy. The excellent cost control and profitability of the LED business has considerable competitive advantages in the LED industry.
Indeed, when it comes to LED project investment, Aoyang Shunchang does not seem so enthusiastic. Throughout the past two years, there have been few investment projects. On June 18, 2014, the company decided to invest 1 billion yuan to invest in the construction of LED blue, green light epitaxial wafers and chip production lines in Qinghe New District of Huai'an City. The announcement on January 3, 2016 stated that the company plans to invest 1.5 billion yuan to invest in an 8-inch integrated circuit chip production line in Qinghe New District of Huai'an City.
Although Aoyang Shunchang's investment cost in LED projects is relatively low, its business is stable with its emphasis on the technical level. In 2015, Aoyang Shunchang increased investment in LED technology research and development, gradually mass production of 4 å‹ films, and accelerated technology research and development and reserves in LED related fields such as flip-chip technology and power components, which enabled the company's overall technical strength to be improved.
For the future development of the company, Aoyang Shunchang has its own clear plan. Continue to do a good job in manufacturing management for the company's existing LED business, and maintain high utilization of epitaxial wafers and chip capacity. At the same time, targeted research and development investment will be made to improve the technical performance of the company's chip products such as yield, brightness and luminous efficacy. Do a good job of interacting with upstream and downstream companies, strengthen the management of suppliers and customers, and enhance the company's overall competitive advantage and profitability.
The construction of the integrated project has become the focus of Aoyang Shunchang. The company will go all out to complete the company's preliminary preparation and substantial construction as soon as possible, and put into production as soon as possible to realize the leap-forward development of the company's semiconductor business and expand and strengthen the semiconductor business.
07 Jingneng Optoelectronics: Competing for the third pole of China's chip market
There are three LED technology routes in the field of semiconductor lighting, namely sapphire substrate, silicon carbide substrate and silicon substrate LED technology route, and crystal energy optoelectronics selects the silicon substrate LED technology route.
Jingneng Optoelectronics mainly produces LED chip products that can be widely used in general lighting, display screens, LCD backlights and industrial fields. In particular, its silicon substrate GaN epitaxial growth and chip processing technology are unique in the world. The company not only has all intellectual property rights, but also The world's first company to mass produce high-power, high-performance silicon substrate LED chips.
Different from the expansion of other LED chip companies, Jingneng Optoelectronics actively participates in the research and development of LED epitaxial chips on silicon substrates. This technology is expected to enable China to build LED technology routes and industry standards with completely independent intellectual property rights, which is expected to have a profound impact on China's LED industry structure.
With the completion of the "high-efficiency GaN-based blue light-emitting diode project on silicon substrate", Jingneng Optoelectronics has also successfully won the first prize of national technology invention. At the same time, Jingneng Optoelectronics surrounds the silicon substrate technology, and has been developing international and domestic patents for many years from the core technology fields of epitaxy, chip to package. According to statistics, Jingneng Optoelectronics has obtained 299 related patents and 161 patent families worldwide.
Jingneng Optoelectronics is in an absolute leading position in the field of silicon substrates. For many years, the company has been insisting on research and development and breakthroughs around this silicon substrate LED technology route, and successfully achieved mass production. From this, we can clearly see the strategic route of Jingneng Optoelectronics: compete for the third pole of the Chinese LED chip market.
summary:
Regarding the current competitive landscape in China's domestic LED chip field, I think it is a situation of “one super and many strongâ€. Except for Sanan Optoelectronics, the gap between other chip companies is not too obvious, so the competition is fierce. From the perspective of the supply chain, mainstream chip makers have taken the lead, and small chip factories mainly use low-cost strategies to plunder small market share. In this market environment, the mainstream chip companies may be healthier.
There is no permanent boxing champion in the chip field. If you are self-styled, it is very easy to be subverted. In the chip industry, product update iteration speed is very fast. Once it is slowed down, it means the loss of market share. Therefore, whether you are an industry leader or an unknown company, you need to have a clear and clear strategic route.
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