In 2017, with the outbreak of the small-pitch LED market and the expansion of the LED chip downstream packaging industry, LED chip supply still has a certain gap. The investment rate of China's LED chip companies is close to 100%, and the output value of China's LED chips has maintained rapid growth. According to data from GGII, the output value of LED chips in China reached 18.8 billion yuan in 2017, accounting for nearly 40% of the global LED chip output; 29.7% increase from 2016, accounting for 40% of the global LED chip output value. China's MOCVD has more than 1,600 units, a net increase of 246 units throughout the year, and LED chip production accounts for more than 54% of the global total. The fast-growing market is also driving the revenue of chip companies. According to Gaogong LED observation, Sanan Optoelectronics, Huacan Optoelectronics, Aoyang Shunchang, and Jucan Optoelectronics all achieved significant growth in 2017; Dehao Runda and Guangdong Ganhua maintained a small increase; In 2017, revenue declined slightly due to the removal of some non-related businesses related to the main business. In terms of net profit, only the two companies in Dehao Runda and Guangdong Ganhua fell sharply, and the other five chip companies achieved significant growth. On the total net profit, Sanan Optoelectronics occupies an absolute "leading" position, and its net profit far exceeds the total net profit of other enterprises; in terms of growth rate, Ganzhao Optoelectronics is the most eye-catching, achieving a growth rate of more than three times. However, the days of Dehao Runda are not good, and the loss in 2017 was as high as 971 million yuan. For huge losses, Dehao Runda explained that the company conducted a check on the book value of various assets as of December 31, 2017, conducted impairment tests on assets with signs of impairment, and carried out some assets. After scrapping and selling, the company's financial department further calculated, the provision for asset impairment was about 321.38 million yuan, and the loss of asset disposal was about 234.44 million yuan, a total of about 555.82 million yuan. In the field of LED chips, the “card position war†of production capacity and price is still continuing. Sanan Optoelectronics, Huacan Optoelectronics and other big manufacturers continue to grow bigger and stronger, like Guangdong Ganhua has lost the opportunity in this competition. . Large-scale expansion of production, production capacity competition In terms of production capacity, Sanan Optoelectronics currently ranks first in the industry with a monthly production capacity of 3 million pieces. In 2017, the annual production capacity of Sanan Optoelectronics LED chips exceeded 660,000 KK. However, it is worth noting that the expansion of Sanan Optoelectronics is still ongoing. On December 6, 2017, Sanan Optoelectronics announced that the total investment was 33.3 billion yuan, and all projects were put into operation within five years. All projects achieved production within seven years, and the annual sales revenue after production reached about 27 billion yuan. Huacan Optoelectronics is temporarily ranked second in the domestic industry in terms of production capacity. In 2017, its blue LED chip has an annual output of 290,000 KK, and the green LED chip has an annual output of 180,000 KK. It is understood that the expansion capacity of Huacan Optoelectronics Yiwu New Plant is still in the process of release, and the capacity under construction will be released at the end of the first quarter of 2018. As the most important competitor of Sanan Optoelectronics in China, Huacan Optoelectronics is following the pace of Sanan Optoelectronics in terms of capacity expansion. Following the establishment of “Huacan Optoelectronics (Suzhou) Co., Ltd. LED epitaxial wafer and chip four-phase project†last year, Huacan Optoelectronics invested 10.8 billion in LED epitaxy and chip, sapphire substrate, UV LED, infrared LED, Expansion of projects such as MicroLED and MEMS sensors. From January to December 2017, Ganzhao Optoelectronics produced about 6.2 million chips (two inch pieces), with a production capacity of 5.5 million pieces and a capacity utilization rate of over 88%. The capacity under construction was 7.92 million pieces, mainly due to the expansion of blue-green projects. In order to further develop its new position in the chip field, Ganzhao Optoelectronics ranks among the top three in China and adopts a follow-up strategy on the scale. According to Ganzhao Optoelectronics, its blue-green light construction capacity of 7.2 million pieces is expected to be gradually released at the end of 2018. At present, the backbone personnel are basically in place and the project is fully advanced. In 2017, the demand for LED chip industry continued to grow, and the price trend of chips remained basically stable. The production capacity of Aoyang Shunchang LED chip has increased rapidly from 200,000 pieces/month to 1 million pieces/month, and its newly added capacity of 400,000 pieces is being promoted in an orderly manner. Currently, the equipment is gradually installed at the factory. It is expected that the third quarter will be basically completed. Production. The “New Section†poly-candle LED epitaxial wafer has a production capacity of about 4.5 million pieces (2 inches) and a chip production capacity of about 3.3 million pieces. Moreover, its capacity under construction is very large. It is understood that the production capacity of Jucan Optoelectronics LED epitaxial wafers and LED chips is 6.6 million pieces. In addition, it is worth noting that the addition of the new subscriber, Zhaochi, will further aggravate the competition on the chip side. On April 23, Zhaochi shares said on the interactive platform that the company's epitaxial wafer and chip projects are mainly used in the field of LED lighting and are expected to be lighted at the end of 2018. Supply and demand changes, chip prices continue to adjust It must be said that after this expansion of the war, several major domestic chip companies will have a substantial increase in production capacity. With the continuous opening of production capacity, the supply and demand relationship at the chip end has also changed. In fact, from the production and sales structure of Sanan Optoelectronics and other large manufacturers, the inventory of chips is also increasing. Sanan Optoelectronics produced 660,000 KK LED chips last year, and its inventory exceeded 158,300 KK, accounting for 23.98%. Huacan Optoelectronics also faced rising inventory. In 2017, Huacan Optoelectronics' inventory increased by 16.75%. More than 52,000 KK, accounting for 10.76% of last year's production; Australia Yang Shunchang's inventory growth is even more alarming, an increase of 1,723.00%, reaching 1,336,300, accounting for 16.49% of last year's total production. It can be seen from the phenomenon that the inventory of major chip manufacturers has increased significantly, the competition in the chip industry will become increasingly severe. This also allows manufacturers such as Sanan and Huacan to make strategic price adjustments for lighting and display chips. In the fourth quarter of last year, the mainstream chips sold by Sanan Optoelectronics and Huacan Optoelectronics all had different adjustments, and the individual varieties fell by as much as 20%. At the same time, LED prices fell more than 10% in the first quarter of 2018. From the perspective of price reduction measures, the purpose of price reduction is to digest existing stocks and avoid the derogation of the value of stock products; on the other hand, to further increase market share by reducing prices. In response to product price cuts, Sanan Optoelectronics said that the price of chips should be reduced every year, because the cost is declining, it is to actively reduce prices or passive price cuts, and active price cuts are actions based on cost reduction. Huacan Optoelectronics also believes that the current chip as an industrial product will certainly have a decline. The round-up price adjustment of the big factory is based on its rising inventory and large-scale production, and the manufacturing cost will be reduced, which may not have much impact on its overall gross profit. The aggressive price cuts of Dachang will further squeeze the market share of SMEs. For SMEs, it is currently facing a dilemma: price cuts will inevitably lead to a decline in gross profit; without lowering prices, original customers may be lost, and new customers are difficult to find. In summary, it can be seen that the competition in the field of LED chips will become more intense in the next two years, and the situation of SMEs lacking capital operation capability will be more difficult. The competition in the same industry is fierce, and big companies have adjusted their strategies. In response to the increasingly fierce competition situation, domestic chip manufacturers continue to expand production scale, and constantly adjust their development strategies to strive for new profit growth points. For Sanan Optoelectronics, the scale is already the first in China, but it is still focusing on emerging areas. In terms of Mini/Micro LED, Sanan Optoelectronics has already begun to layout. On February 5, 2018, Xiamen Sanan, a wholly-owned subsidiary, signed a “Prepayment Agreement†with Samsung Electronics Co., Ltd., in order to establish long-term business cooperation. Relationship; LED automotive lighting, the automotive light business of the wholly-owned subsidiary Anrui Optoelectronics has grown rapidly, and has successfully become a supplier of many domestic automobile brands; semiconductor integrated circuits; Sanan continues to accelerate the promotion of semiconductor integrated circuit customers Certification and product sales, active production. In addition, Sanan Optoelectronics is also actively promoting the construction of the substrate project. Its subsidiary Jingan Optoelectronics is mainly engaged in the research and development, production and sales of LED sapphire substrates. It is located in the upstream of the optoelectronic industry chain with a total investment of 7 billion yuan. According to reports, Jingan Optoelectronics completed the investment of 3.78 billion yuan in the first and second phases, achieving an annual production capacity of 1.5 million pieces per month for LED substrate, 1.06 million millimeters per month for crystal growth of crystal growth, and 400,000 PSS patterned substrate. Film/month. While expanding its production scale, Huacan Optoelectronics is actively focusing on new technologies, new applications and new businesses. In terms of Mini/Micro LED, Huacan is a manufacturer that successfully launched RGB MiniLED products earlier in China, and has completed the research and development of RGB Mini-LED chips, LED inverted LED chips and backlight Mini-LED chips. Through the acquisition of Blue Crystal Technology, Can Opto has expanded the sapphire substrate business upstream of the LED chip; in the new application, through the acquisition of MEMS, the dual main business layout of LED+ sensor has been completed. Dehao Runda will focus more on flip chip technology. In 2017, Dehao Runda completed the issuance of 836.32 million shares of non-public offering, raising net funds of 1,969,098,800 yuan for LED flip Construction of chip projects and LED chip scale packaging projects. Jucan Optoelectronics is a development strategy of “differentiation, refinement and specializationâ€. While expanding the scale of production, the focus of technological innovation is on product optimization and performance improvement in the field of general-purpose chips, product development in the field of featured chips, and high-end market applications. It is understood that Jucan Optoelectronics R&D team will continue to increase the "high internal quantum efficiency luminescence 肼 epitaxial structure and process optimization", "high-efficiency large-size epitaxial wafer development", "high-brightness LED developed for automotive and high-end market" Research and development of topics such as flip-chip and vertical chips, and high-brightness violet flip-chips and vertical chips for industrial curing and semiconductor exposure market applications. For Ganzhao Optoelectronics, while sticking to the LED main business, it constantly “cuts down†the non-related business with the main business and determines the unique development strategy of “scale follower + technical characteristicsâ€. Among them, the blue-green light chip will implement scale follow-up, and the expansion will enlarge the scale; while the red and yellow light chips will be positioned to make technical features and achieve quality improvement. At the same time, focus on the development of features: high-end specialty products + focus on the future display, dry photo photoelectric will invest in strategic research and development resources, and comprehensive cooperation with the industry chain, looking forward to promoting the development of miniLED and MicroLED. In addition, through investment M&A and industry incubation, we have invested in outstanding enterprises, absorbed excellent talents, and intensified research and development. When the second and third generations of semiconductors are in the ascendant, we are at the forefront of industry development, leading the development of technology and application trends. However, just as several major chip makers intensified their efforts to launch the chip industry and other emerging applications, Guangdong Ganhua was in a row with a loss in the LED chip field. In December last year, the subsidiary Deli Optoelectronics successfully changed hands. 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