[Source: Gaogong LED 's " LED Research Review" magazine January issue GLII / è¦ƒå® æ˜‚ ]
The price of LED devices continued to decline, and the growth of LED lighting demand was still lower than expected. As a result, the revenue and profit of LED packaging manufacturers in Taiwan were regressed.
The High-Tech LED Industry Research Institute (GLII) estimates that the LED packaging market in Taiwan will be about 13.6 billion yuan in 2012, down 8% from last year. Considering that the current market demand for terminal lighting is not clear, and the short-term growth rate is limited, in 2013, LED packaging manufacturers in Taiwan will still face the dilemma of having no capacity for continuous orders, and the annual profit will be under pressure.
18 listed companies' total revenue decreased by 6% year-on-year
By the end of 2012, there were more than 50 LED packaging manufacturers in Taiwan, including more than 20 manufacturers including Yiguang, Guangbao, Longda, Jintai, Dongbei and Wei Limen. Among them, 18 LED packaging listed companies last year's total revenue was about 100 million yuan, down 6% year-on-year.
In terms of specific corporate performance, the revenues of 12 listed companies declined last year, and the revenues of the six companies increased year-on-year. Among them, Lite-On's revenue was about 2.6 billion yuan, down 1% year-on-year. Billion Optoelectronics' revenue was about 2.31 billion yuan, down 13% year-on-year. The biggest decline was in Honghong. In 2012, revenue was about 582 million yuan, down 33% year-on-year.
Dongbei Optoelectronics benefited from the continued increase in LED backlight orders. In 2012, revenue increased to 1.5 billion yuan, a year-on-year increase of 23%.
In terms of profitability, eight packaging companies achieved profitability in 2012, while another 10 suffered losses. Among them, six companies including Yiguang, Edison and Hongkai Optoelectronics have achieved profitability for two consecutive years, and six manufacturers including Power League have suffered losses for two consecutive years.
Benefiting from the continued increase in LED backlight orders, Lunda and Dongbei successfully escaped the loss of adversity in 2011 and achieved substantial profits. In contrast, Hong Qi, Qi Hong in the fall of the LED backlight, LED lighting has not seen the situation, in 2012, there was a large loss.
GLII believes that the main reason for the decline in the LED packaging market in Taiwan in 2012 was the sharp drop in product prices, resulting in an increase in the number of LED packaging manufacturers.
Hard to make profit
At present, the LED industry in Taiwan has entered the stage of low-price competition. For LED packaging manufacturers who have been unable to reverse the loss situation, mergers and acquisitions to achieve maximum resources and benefits have become the best choice.
On September 13, 2012, Lunda Electronics and Powerex Electronics merged through a share swap.
After the merger, with the vertical integration benefits of the group, in the next few years, Ronda Electronics will be able to attack the LED backlight source or the LED lighting market.
In terms of backlight, the parent company AUO Group will still be a stable revenue guarantee. In the LED lighting market, Lunda Electronics is still dominated by ODM and OEM.
At the same time, in view of the strong demand for LED lighting in China and Japan in the next few years, Lunda Electronics' LED lighting performance is expected to grow, and the market and channel resources of China's electrical appliances will be used to expand the seaport.
At present, the first echelon camp of LED packaging manufacturers in Taiwan, composed of Lite-On, Yiguang, Ronda and Dongbei, has been formed. Under low-cost competition, packaging manufacturers can take advantage of cost advantages to crowd out small and medium-sized package manufacturers, which will further reduce the living space of small and medium-sized package manufacturers in Taiwan. GLII expects that the LED packaging field in Taiwan will continue to merge and restructure.
It is difficult to improve the production capacity without orders.
GLII expects that the demand for large-size backlight market will remain strong in 2013, but the impact of the continued decline in average prices and the decreasing number of LEDs required for a single TV will ultimately reflect the slowdown in growth in corporate revenue. Therefore, the LED lighting market will become the key to boosting the performance growth of LED packaging manufacturers.
GLII believes that the demand for LED lighting in the market will grow rapidly in 2013, but LED packaging manufacturers in Taiwan will still face the dilemma of capacity and no order digestion.
First of all, China's LED packaging manufacturers have risen rapidly and their production capacity has been increasing. This has already threatened Taiwan's LED packaging manufacturers.
Secondly, it is foreseeable that the size of the LED lighting market in 2013 is still insufficient to support the capacity digestion of LED packaging manufacturers in mainland China and Taiwan.
Moreover, at present, LED lighting manufacturers are relatively dispersed, and the scale of single manufacturers and market share is limited. It is quite difficult for LED packaging factories to seize enough orders.
There is no capacity to digest the production capacity, which means that LED packaging manufacturers in Taiwan still face great pressure to improve the gross profit margin, and it is also a test for the profitability of manufacturers.
The price of LED devices continued to decline, and the growth of LED lighting demand was still lower than expected. As a result, the revenue and profit of LED packaging manufacturers in Taiwan were regressed.
The High-Tech LED Industry Research Institute (GLII) estimates that the LED packaging market in Taiwan will be about 13.6 billion yuan in 2012, down 8% from last year. Considering that the current market demand for terminal lighting is not clear, and the short-term growth rate is limited, in 2013, LED packaging manufacturers in Taiwan will still face the dilemma of having no capacity for continuous orders, and the annual profit will be under pressure.
18 listed companies' total revenue decreased by 6% year-on-year
By the end of 2012, there were more than 50 LED packaging manufacturers in Taiwan, including more than 20 manufacturers including Yiguang, Guangbao, Longda, Jintai, Dongbei and Wei Limen. Among them, 18 LED packaging listed companies last year's total revenue was about 100 million yuan, down 6% year-on-year.
In terms of specific corporate performance, the revenues of 12 listed companies declined last year, and the revenues of the six companies increased year-on-year. Among them, Lite-On's revenue was about 2.6 billion yuan, down 1% year-on-year. Billion Optoelectronics' revenue was about 2.31 billion yuan, down 13% year-on-year. The biggest decline was in Honghong. In 2012, revenue was about 582 million yuan, down 33% year-on-year.
Dongbei Optoelectronics benefited from the continued increase in LED backlight orders. In 2012, revenue increased to 1.5 billion yuan, a year-on-year increase of 23%.
In terms of profitability, eight packaging companies achieved profitability in 2012, while another 10 suffered losses. Among them, six companies including Yiguang, Edison and Hongkai Optoelectronics have achieved profitability for two consecutive years, and six manufacturers including Power League have suffered losses for two consecutive years.
Benefiting from the continued increase in LED backlight orders, Lunda and Dongbei successfully escaped the loss of adversity in 2011 and achieved substantial profits. In contrast, Hong Qi, Qi Hong in the fall of the LED backlight, LED lighting has not seen the situation, in 2012, there was a large loss.
GLII believes that the main reason for the decline in the LED packaging market in Taiwan in 2012 was the sharp drop in product prices, resulting in an increase in the number of LED packaging manufacturers.
Hard to make profit
At present, the LED industry in Taiwan has entered the stage of low-price competition. For LED packaging manufacturers who have been unable to reverse the loss situation, mergers and acquisitions to achieve maximum resources and benefits have become the best choice.
On September 13, 2012, Lunda Electronics and Powerex Electronics merged through a share swap.
After the merger, with the vertical integration benefits of the group, in the next few years, Ronda Electronics will be able to attack the LED backlight source or the LED lighting market.
In terms of backlight, the parent company AUO Group will still be a stable revenue guarantee. In the LED lighting market, Lunda Electronics is still dominated by ODM and OEM.
At the same time, in view of the strong demand for LED lighting in China and Japan in the next few years, Lunda Electronics' LED lighting performance is expected to grow, and the market and channel resources of China's electrical appliances will be used to expand the seaport.
At present, the first echelon camp of LED packaging manufacturers in Taiwan, composed of Lite-On, Yiguang, Ronda and Dongbei, has been formed. Under low-cost competition, packaging manufacturers can take advantage of cost advantages to crowd out small and medium-sized package manufacturers, which will further reduce the living space of small and medium-sized package manufacturers in Taiwan. GLII expects that the LED packaging field in Taiwan will continue to merge and restructure.
It is difficult to improve the production capacity without orders.
GLII expects that the demand for large-size backlight market will remain strong in 2013, but the impact of the continued decline in average prices and the decreasing number of LEDs required for a single TV will ultimately reflect the slowdown in growth in corporate revenue. Therefore, the LED lighting market will become the key to boosting the performance growth of LED packaging manufacturers.
GLII believes that the demand for LED lighting in the market will grow rapidly in 2013, but LED packaging manufacturers in Taiwan will still face the dilemma of capacity and no order digestion.
First of all, China's LED packaging manufacturers have risen rapidly and their production capacity has been increasing. This has already threatened Taiwan's LED packaging manufacturers.
Secondly, it is foreseeable that the size of the LED lighting market in 2013 is still insufficient to support the capacity digestion of LED packaging manufacturers in mainland China and Taiwan.
Moreover, at present, LED lighting manufacturers are relatively dispersed, and the scale of single manufacturers and market share is limited. It is quite difficult for LED packaging factories to seize enough orders.
There is no capacity to digest the production capacity, which means that LED packaging manufacturers in Taiwan still face great pressure to improve the gross profit margin, and it is also a test for the profitability of manufacturers.
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