In recent years, LED overcapacity has caused many companies to fall into meager profits or even losses. However, after the six ministries and commissions supported the semiconductor lighting plan this year, some listed companies began to use the capital market to expand, which is quite the trend of the 100-year-old photovoltaic project. .
First, Silan Micro has increased 880 million yuan to increase the production of LED-related products. Subsequently, Sanan Optoelectronics launched a 3.3 billion fund-raising plan. After Aoyang Shunchang launched a plan to increase its LED chip by 900 million yuan, Guoxing Optoelectronics and Xiamen Cinda (000701.SZ) almost simultaneously introduced a fixed-income plan, which refers to LED chips and packages.
These companies have locked their product targets into the LED lighting market, but Aoyang Shunchang is planning to produce 11.5 billion LED chips, while Guoxing Optoelectronics now has 3.5 billion LED chip production capacity. After expansion, the planned annual production capacity is 6.336 billion. The annual production capacity of LED white light chips to be built by Xiamen Xinda is 8.063 billion yuan. Whether they can be digested smoothly is difficult to see.
Not afraid of meager profit plus code investment LED
On the evening of September 11, Xiamen Xinda announced the non-public offering plan. The company intends to provide no more than 10 shares including Guomao Holdings (including related parties designated by Guomao Holdings) at an issue price of not less than 9.72 yuan/share. A specific investor will issue no more than 80 million shares.
According to the plan, the total amount of funds raised from the non-public offering will not exceed 700 million yuan, of which 388 million yuan will be used for the new project of Anxi LED packaging, and the funds for the expansion project of LED application products in Xiamen will be 149 million yuan. The funds for the RFID product design and production line expansion project are 149 million yuan.
According to the estimation of Xiamen Xinda, the annual average profit of the project is 71.09 million yuan, and the annual sales income is 1.318 billion yuan (after tax). The investment recovery period is 6-7 years (including Building period).
However, the operation status and profitability of Xiamen Xinda LED industry are not so satisfactory.
Due to the overall overcapacity of China's LED industry in recent years, coupled with the lack of upstream core technology, many companies have gathered in the low-end areas such as packaging and applications, resulting in a slower-than-expected growth in domestic demand, and the overall industry gross profit tends to decline.
According to public information, the net profit of Xinda Optoelectronics, which is under the jurisdiction of Xiamen Xinda, has never exceeded 30 million yuan, and the operating income of LED products in the first half of this year was 140 million yuan, down 22% year-on-year, and total profit. There has also been a sharp drop: the same period last year was 23.98 million yuan, and the first half of this year was only 9.96 million yuan.
However, the fixed-income report indicates that Xiamen Cinda's LED products have insufficient production capacity. The implementation of the two LED projects is not only a breakthrough to solve the problem of insufficient production capacity, but also an important starting point for seeking new profit growth points and promoting business transformation and upgrading. .
The new phase of LED investment is hot or repeats the PV
In 2012, the domestic LED market sales increased significantly, but the price fell rapidly, and the industry competition was at the level of product competition, especially the price war. The report of the board of directors of Xiamen Xinda shows that this year, mainly to increase R & D investment and market development, to overcome the negative impact of disorderly competition in the industry.
Then why does Xiamen Xinda suddenly increase its investment, making the market competition of overcapacity more fierce?
Perhaps this will start from the "Semiconductor Lighting Energy Conservation Industry Plan" issued by the six ministries and commissions in February this year. According to the plan, the output value of LED lighting energy-saving industry reached 450 billion yuan in 2015 (including 180 billion yuan of LED lighting application products); 10-15 core technologies, more independent intellectual property rights and well-known brands, and strong quality competitiveness Leading enterprise.
Therefore, in February 2013, Silan Micro issued a plan to increase the number of plans to increase by no more than 170 million shares, and the total amount of funds raised will not exceed 880 million yuan, which will be used for the first phase of Chengdu Silan Semiconductor Manufacturing Co., Ltd. and supplementary working capital. Mainly to produce LED chips and power modules and power devices for lighting.
Then, on May 28, the domestic LED industry upstream chip leader Sanan Optoelectronics announced its fixed-income plan - proposed to raise more than 3.3 billion yuan for the Wuhu Optoelectronics Industrialization (Phase II) project, and supplement the company's working capital .
Then, in June, Aoyang Shunchang opened a LED project plan, Aoyang Shunchang plans to issue 100 million shares, raised 500 million yuan, and launched LED epitaxial wafer and chip industrialization project for LED lighting market. After reaching the production capacity, it will form an annual production capacity of 1.8 million pieces of blue-green LED epitaxial wafers (calculated by 2-inch epitaxial wafers) and 11.5 billion blue-green chips.
Then, on September 10, Guoxing Optoelectronics also launched a fixed-increasing plan, which is planned to increase by no more than 90.55 million shares at a price of 6.96 yuan per share. The raised funds will not exceed 630 million, of which 500 million will be used for the epistar chip of National Star Semiconductor. The project (Phase II) will be built with an annual production capacity of 960,000 pieces of epitaxial wafers and 6.336 billion pieces of chips.
The construction goal of Xiamen Xinda is to package the product line. The capacity of PLCC white LED products is 8.063 billion/year; the capacity of PLCC 2121RGB products is 569 million/year; the production capacity of EMC white light products is 1.219 billion/year. ... This plan was released, so that the manufacturers who are suffering in the competitive landscape of low prices and overcapacity are excited again. LED listed companies are vying to invest in chips and packaging through the capital market. Will this be like 2010? In 2011, many companies have cut into the photovoltaic industry, and it is still awaiting a new round of bubbles. However, the only thing that can be determined is that the LED industry cannot achieve large-scale export of photovoltaic products. After all, China's LED technology and product quality lag far behind Taiwan, Europe, America, Japan and South Korea.
On September 12, the reporter called Xiamen Xinda. The office staff said that the company is currently under-capacity, so it needs to expand its production capacity. There will be no problems such as the inability of the photovoltaic industry to digest.
( This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED . Readers need to verify the relevant content by themselves. )
First, Silan Micro has increased 880 million yuan to increase the production of LED-related products. Subsequently, Sanan Optoelectronics launched a 3.3 billion fund-raising plan. After Aoyang Shunchang launched a plan to increase its LED chip by 900 million yuan, Guoxing Optoelectronics and Xiamen Cinda (000701.SZ) almost simultaneously introduced a fixed-income plan, which refers to LED chips and packages.
These companies have locked their product targets into the LED lighting market, but Aoyang Shunchang is planning to produce 11.5 billion LED chips, while Guoxing Optoelectronics now has 3.5 billion LED chip production capacity. After expansion, the planned annual production capacity is 6.336 billion. The annual production capacity of LED white light chips to be built by Xiamen Xinda is 8.063 billion yuan. Whether they can be digested smoothly is difficult to see.
Not afraid of meager profit plus code investment LED
On the evening of September 11, Xiamen Xinda announced the non-public offering plan. The company intends to provide no more than 10 shares including Guomao Holdings (including related parties designated by Guomao Holdings) at an issue price of not less than 9.72 yuan/share. A specific investor will issue no more than 80 million shares.
According to the plan, the total amount of funds raised from the non-public offering will not exceed 700 million yuan, of which 388 million yuan will be used for the new project of Anxi LED packaging, and the funds for the expansion project of LED application products in Xiamen will be 149 million yuan. The funds for the RFID product design and production line expansion project are 149 million yuan.
According to the estimation of Xiamen Xinda, the annual average profit of the project is 71.09 million yuan, and the annual sales income is 1.318 billion yuan (after tax). The investment recovery period is 6-7 years (including Building period).
However, the operation status and profitability of Xiamen Xinda LED industry are not so satisfactory.
Due to the overall overcapacity of China's LED industry in recent years, coupled with the lack of upstream core technology, many companies have gathered in the low-end areas such as packaging and applications, resulting in a slower-than-expected growth in domestic demand, and the overall industry gross profit tends to decline.
According to public information, the net profit of Xinda Optoelectronics, which is under the jurisdiction of Xiamen Xinda, has never exceeded 30 million yuan, and the operating income of LED products in the first half of this year was 140 million yuan, down 22% year-on-year, and total profit. There has also been a sharp drop: the same period last year was 23.98 million yuan, and the first half of this year was only 9.96 million yuan.
However, the fixed-income report indicates that Xiamen Cinda's LED products have insufficient production capacity. The implementation of the two LED projects is not only a breakthrough to solve the problem of insufficient production capacity, but also an important starting point for seeking new profit growth points and promoting business transformation and upgrading. .
The new phase of LED investment is hot or repeats the PV
In 2012, the domestic LED market sales increased significantly, but the price fell rapidly, and the industry competition was at the level of product competition, especially the price war. The report of the board of directors of Xiamen Xinda shows that this year, mainly to increase R & D investment and market development, to overcome the negative impact of disorderly competition in the industry.
Then why does Xiamen Xinda suddenly increase its investment, making the market competition of overcapacity more fierce?
Perhaps this will start from the "Semiconductor Lighting Energy Conservation Industry Plan" issued by the six ministries and commissions in February this year. According to the plan, the output value of LED lighting energy-saving industry reached 450 billion yuan in 2015 (including 180 billion yuan of LED lighting application products); 10-15 core technologies, more independent intellectual property rights and well-known brands, and strong quality competitiveness Leading enterprise.
Therefore, in February 2013, Silan Micro issued a plan to increase the number of plans to increase by no more than 170 million shares, and the total amount of funds raised will not exceed 880 million yuan, which will be used for the first phase of Chengdu Silan Semiconductor Manufacturing Co., Ltd. and supplementary working capital. Mainly to produce LED chips and power modules and power devices for lighting.
Then, on May 28, the domestic LED industry upstream chip leader Sanan Optoelectronics announced its fixed-income plan - proposed to raise more than 3.3 billion yuan for the Wuhu Optoelectronics Industrialization (Phase II) project, and supplement the company's working capital .
Then, in June, Aoyang Shunchang opened a LED project plan, Aoyang Shunchang plans to issue 100 million shares, raised 500 million yuan, and launched LED epitaxial wafer and chip industrialization project for LED lighting market. After reaching the production capacity, it will form an annual production capacity of 1.8 million pieces of blue-green LED epitaxial wafers (calculated by 2-inch epitaxial wafers) and 11.5 billion blue-green chips.
Then, on September 10, Guoxing Optoelectronics also launched a fixed-increasing plan, which is planned to increase by no more than 90.55 million shares at a price of 6.96 yuan per share. The raised funds will not exceed 630 million, of which 500 million will be used for the epistar chip of National Star Semiconductor. The project (Phase II) will be built with an annual production capacity of 960,000 pieces of epitaxial wafers and 6.336 billion pieces of chips.
The construction goal of Xiamen Xinda is to package the product line. The capacity of PLCC white LED products is 8.063 billion/year; the capacity of PLCC 2121RGB products is 569 million/year; the production capacity of EMC white light products is 1.219 billion/year. ... This plan was released, so that the manufacturers who are suffering in the competitive landscape of low prices and overcapacity are excited again. LED listed companies are vying to invest in chips and packaging through the capital market. Will this be like 2010? In 2011, many companies have cut into the photovoltaic industry, and it is still awaiting a new round of bubbles. However, the only thing that can be determined is that the LED industry cannot achieve large-scale export of photovoltaic products. After all, China's LED technology and product quality lag far behind Taiwan, Europe, America, Japan and South Korea.
On September 12, the reporter called Xiamen Xinda. The office staff said that the company is currently under-capacity, so it needs to expand its production capacity. There will be no problems such as the inability of the photovoltaic industry to digest.
( This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED . Readers need to verify the relevant content by themselves. )
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