Since January 2016, LED-related listed companies have released the first quarter 2016 results forecast. From the first quarterly report released by several companies that mainly engage in LED display business, it can be found that most of the company's performance is presented. In the "pre-increased" state, the LED display industry seems to be picking up.
Driven by the recovery in the performance of LED display companies, the recent circle of friends in the industry has also appeared in some of the packaging companies to "price increase". Li Cheng, general manager of Shenzhen Cisco Rui Optoelectronics Co., Ltd., in his WeChat circle of friends, has received a letter of contact for the price adjustment of some products from Mulinsen Guangxian Technology Co., Ltd., a wholly-owned subsidiary of Mulinsen.
In addition to Mulinsen, the price of some packaged devices of Jingtai Optoelectronics and Guangdong Xinda has also been raised to a certain extent. The price of LED package devices has risen, which is indeed a new thing for the industry. In 2015, the continuous price war in the industry led to a sharp decline in the price of packaged device products. The prices of domestic packaging companies were nearly swayed, and the prices of international LED packaging manufacturers also fell by more than 20%. Incremental gains do not become a common voice in the industry.
The increase in the performance of listed companies on the pre-increase of packaging products seems to indicate that the LED display industry is already picking up, but is this true?
Judging from the first-quarter forecasts issued by several listed companies, the performance of these companies has indeed changed to a certain extent or even a large extent in 2015, but this does not represent the entire industry, and we all know the fact. That is, now these listed companies with LED display as their main business are constantly expanding their profit channels, such as Liard’s four-wheel drive strategy, the “digital outdoor media empire†strategy, and the continent. Ming's two wings are flying together, Abbison's "two wings and one support", Lehman's "LED + sports", etc., and the profitability of these business segments outside the LED sector is constantly increasing. Take Lianjian Optoelectronics as an example, the media in 2015 The business income of the sector was 742 million yuan, accounting for almost half of the company's entire revenue. Therefore, just from the overall performance report of a company can not judge the enterprise LED sector revenue has achieved rapid growth.
In addition, the price increase of packaging enterprise products may not be caused by the increase in orders from downstream LED display companies, because the pricing of current packaged device products is very close to the material cost, and the price of some basic materials appears to rise in the first quarter, the packaging factory is unable to absorb This part of the additional cost, we have to pass the cost to the downstream application.
Therefore, from two aspects, it is impossible to draw a direct conclusion that the LED display industry is already recovering. Of course, we all hope that the LED display industry will recover as soon as possible and usher in a new wave of growth, but we must not pass the wrong signal to the market. The LED display is located in the downstream position of the entire LED industry chain. It can be said to be a one-stop move. Its every move will have a direct and significant impact on the upstream epitaxial chip and the midstream package, especially in the current chip and package market. Competition is becoming more and more fierce. Once a company is disturbed by outside public opinion and improperly expands its production capacity, it is likely to directly bring losses to the enterprise or introduce the entire market into a more vicious price war.
Therefore, whether the LED display industry is already recovering remains to be seen.
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