[Source: Gaogong LED 's " LED Research Review" magazine March issue reporter / Tang Zikai]
On February 24th, the Shenzhen Municipal Government issued an announcement of the abolition order. The reasons are still confusing, and the LED industry policies of other cities in Guangdong Province continue to be implemented.
As the most concentrated area of ​​the domestic LED industry, various local governments in Guangdong Province can support a variety of industrial support policies, including subsidizing MOCVD, supporting large enterprises, and rent-free and tax-free. Since 2010, the introduction of LED projects in Guangdong Province and the expansion of local enterprises have blossomed everywhere.
Li Xinghua, director of the Science and Technology Department of Guangdong Province, said that in recent years, the total investment of five provincial-level LED industrial bases in Huizhou, Dongguan, Jiangmen, Nanhai and Zengcheng in Guangdong Province exceeded 50 billion yuan. Among them, Huizhou Career, Zhoulei Technology, Zhongjing LED Chip Project, Guangzhou Zengcheng LED Epitaxial Chip Project and other heavyweight projects have a total investment of more than 20 billion yuan. However, he also pointed out that the LED industry currently has market chaos, lack of independent brands, and low consumer acceptance.
In fact, compared with the international, China's LED industry has a big gap. The slow development of enterprises is not the government's support and subsidies. On the contrary, due to the excessive subsidies and support of the government, many enterprises have caused government dependence and lost. The power to participate in market competition.
Zhu Bingzhong, deputy general manager of Qinshang Optoelectronics, said that the starting point of the government's subsidy policy for LED companies is to let a small number of enterprises drive the entire industry. "The subsidy policy itself has no problem. The key is to see how companies can grasp and make good use of the government's subsidy policy."
Regarding whether other cities in Guangdong Province should follow the example of “brakes†in Shenzhen, during the interview process of the reporters, many insiders said that there are many variables in the market competition pattern of the domestic LED industry. It is hard to say whether it is waste or non-abolition. “But it is clear that companies with capital, scale, technology, brand and market channel advantages will become the mainstay of market integration. Only by adhering to the combination of government promotion and market operation can we seize the commanding heights of industrial development and grasp the right to speak in market competition. ."
Hyperdependence
Thousands of companies have invested in the LED industry one after another, many in order to share a piece of state subsidies, and enjoy a variety of preferential policies such as tax breaks and cheap industrial land. It can be imagined how much such a market competitiveness of enterprises can be subsidized by the government. The net profit of some enterprises relies on the inflated government subsidies, and the state subsidies occupy a considerable part of their profits. Dehao Runda (002005.SZ) net profit for the first half of 2012 was 124 million yuan, a year-on-year increase of 21.50%. The company said that due to the year-on-year growth of gross profit margin, Wuhu production base received government subsidies. However, the reporter found that the current government subsidies amounted to 150 million yuan, far exceeding the current net profit. It can be seen that the "inflated" of enterprises is completely supported by government subsidies.
Zhang Shuai, an analyst at Guojin Securities' new energy industry, said that the so-called dual main business of Dehao Runda is not strong, and it is very rare for companies with good legs to walk. It is difficult for the company to raise funds twice in the short term. It is unclear whether it can receive huge government subsidies again. If this is calculated, the potential for subsequent performance growth will not be discussed. Dehao Runda's 2012 performance report showed that revenue was 2.824 billion yuan, down 7.89% year-on-year, and net profit was only 168 million yuan, down 57.14% year-on-year.
Industry insiders questioned that although the starting point of local government is good, excessive investment subsidies are a major cause of overcapacity in the industry. “The country’s huge subsidies have increased the impulse of some enterprises to invest, and the terminal’s consumption subsidies eventually evolved into direct subsidies to production companies.†An industry insider who asked not to be named said that as long as there is government support, companies look at profit margins. Yes, it will swarm, and then cause overcapacity, and finally can only end in price war.
“National subsidies have no fundamental effect on changing the status quo of the market itself. It can only be scratching,†said the industry insider.
Since the second half of last year, due to the weak global economy, domestic LED product export sales have fallen sharply, while the domestic market has been weak, and coupled with excessive bubbles in the upstream over the past few years, many companies have suffered losses or even closed down.
According to statistics from the High-tech LED Industry Research Institute (GLII), there were more than 80 LED lighting companies in Shenzhen in 2012; nearly 10% of lighting companies in Foshan have closed down; and LED lighting companies in Dongguan and Zhongshan are also in deep recession. . At the same time, 11 of the 20 LED listed companies experienced a decline in net profit.
Dr. Zhang Xiaofei, CEO of Gaogong LED, predicts that one-fifth of LED lighting companies in China will close down in 2013.
Tendency to big companies
Faced with the overall downturn in the LED industry, the country is about to start a new round of subsidies. Li Xinghua said that the state's subsidies have strongly supported breakthrough innovation in key areas of the LED industry.
"In recent years, the national policy has gradually increased the inclination of private enterprises, but enterprises must have certain conditions for government subsidies. After the introduction of the policies, the advantages of horizontal development, operational investment, R&D investment, personnel investment and brand promotion are all A comprehensive factor of government subsidies.†Zhu Bingzhong said that the government subsidy policy is a very effective means to promote the development of emerging industries. This model is not Chinese. Until now, many foreign companies will receive government subsidies, such as Boeing. the company.
Zhu Bingzhong believes that the government's subsidy policy and the provision of research and development subsidies to enterprises can not only promote the progress of new technologies, but also stimulate the market, form mass production, promote the decline of raw material prices, and provide better support for the development of the LED industry. "In recent years, many LED companies have failed to invest, and they have not made any money. If there is a loss, they will blame the government's policy is not good, and the policy guidance has problems, but have they made a risk assessment before investing?"
For the state's subsidy policy, not all companies are applauded. A person in charge of the company said that if the country does not subsidize, the company that has been eliminated will naturally “dieâ€, and the “live†enterprise may have the ability to compete with foreign companies. “The bigger the company is, the bigger it is. The SMEs have neither technical advantages nor capacity advantages. The result is that they are eliminated. At least half of the current market capacity must be eliminated.â€
Recently, the latest list of financial subsidies for LED lighting manufacturers in 2012 and 2013, a total of 39 wins, almost all large enterprises. Many SMEs in China are worried that government subsidies and favorable policies will be biased towards individual large enterprises and will not be of substantial help to many SMEs. In addition, favorable policies will attract more large state-owned enterprises to enter the LED industry and intensify market competition.
Market positioning
The industry believes that in the initial stage of market launch, government subsidies will definitely help to expand the market, and will have a certain pulling effect on the entire industry chain. However, neither the enterprise nor the local government can use subsidies as the only means. Because companies and products that can receive subsidies only account for a small part, to occupy the market depends on technological innovation, brand and channel construction.
"For the healthy development of the LED industry, the government's policy support and application promotion, enterprise technology innovation, industry standard setting, one can not be less." Guan Baiyu, secretary general of China Semiconductor Lighting / LED Industry and Application Alliance said. The blind development of quick success and instant benefit will only lead to insufficient competitiveness, and it will not be able to escape the bad luck in the market. The huge amount of state financial subsidies has not only made these enterprises that have grown up in the greenhouse "new", but has become a catalyst for their "dead". At the same time, it is difficult for the state finances to afford enterprises that are becoming more and more large and have no benefits as long as they are subsidized
Therefore, more and more enterprises in the low-end production capacity are repeatedly investing, taking the government's special subsidy funds, which naturally creates vicious competition in prices. Industry insiders have suggested that the government should encourage downstream enterprises to go upstream, and encourage some enterprises to transform and upgrade high-end products when the operating conditions are relatively good through some special funds of the government. At the same time, low-end packaging factories are encouraged to merge and integrate and transform industrial resources through mergers and acquisitions.
Any opening of the Xiamen LED Industry Promotion Association said that the promotion of LED lighting is not a long-term success, and the replacement process for energy-saving lamps will be long and lasting. "The development of the LED lighting industry is a market economy. If the government policy interferes too much, it will not be conducive to its development in a benign direction, and will eventually follow the footsteps of the photovoltaic industry."
On February 24th, the Shenzhen Municipal Government issued an announcement of the abolition order. The reasons are still confusing, and the LED industry policies of other cities in Guangdong Province continue to be implemented.
As the most concentrated area of ​​the domestic LED industry, various local governments in Guangdong Province can support a variety of industrial support policies, including subsidizing MOCVD, supporting large enterprises, and rent-free and tax-free. Since 2010, the introduction of LED projects in Guangdong Province and the expansion of local enterprises have blossomed everywhere.
Li Xinghua, director of the Science and Technology Department of Guangdong Province, said that in recent years, the total investment of five provincial-level LED industrial bases in Huizhou, Dongguan, Jiangmen, Nanhai and Zengcheng in Guangdong Province exceeded 50 billion yuan. Among them, Huizhou Career, Zhoulei Technology, Zhongjing LED Chip Project, Guangzhou Zengcheng LED Epitaxial Chip Project and other heavyweight projects have a total investment of more than 20 billion yuan. However, he also pointed out that the LED industry currently has market chaos, lack of independent brands, and low consumer acceptance.
In fact, compared with the international, China's LED industry has a big gap. The slow development of enterprises is not the government's support and subsidies. On the contrary, due to the excessive subsidies and support of the government, many enterprises have caused government dependence and lost. The power to participate in market competition.
Zhu Bingzhong, deputy general manager of Qinshang Optoelectronics, said that the starting point of the government's subsidy policy for LED companies is to let a small number of enterprises drive the entire industry. "The subsidy policy itself has no problem. The key is to see how companies can grasp and make good use of the government's subsidy policy."
Regarding whether other cities in Guangdong Province should follow the example of “brakes†in Shenzhen, during the interview process of the reporters, many insiders said that there are many variables in the market competition pattern of the domestic LED industry. It is hard to say whether it is waste or non-abolition. “But it is clear that companies with capital, scale, technology, brand and market channel advantages will become the mainstay of market integration. Only by adhering to the combination of government promotion and market operation can we seize the commanding heights of industrial development and grasp the right to speak in market competition. ."
Hyperdependence
Thousands of companies have invested in the LED industry one after another, many in order to share a piece of state subsidies, and enjoy a variety of preferential policies such as tax breaks and cheap industrial land. It can be imagined how much such a market competitiveness of enterprises can be subsidized by the government. The net profit of some enterprises relies on the inflated government subsidies, and the state subsidies occupy a considerable part of their profits. Dehao Runda (002005.SZ) net profit for the first half of 2012 was 124 million yuan, a year-on-year increase of 21.50%. The company said that due to the year-on-year growth of gross profit margin, Wuhu production base received government subsidies. However, the reporter found that the current government subsidies amounted to 150 million yuan, far exceeding the current net profit. It can be seen that the "inflated" of enterprises is completely supported by government subsidies.
Zhang Shuai, an analyst at Guojin Securities' new energy industry, said that the so-called dual main business of Dehao Runda is not strong, and it is very rare for companies with good legs to walk. It is difficult for the company to raise funds twice in the short term. It is unclear whether it can receive huge government subsidies again. If this is calculated, the potential for subsequent performance growth will not be discussed. Dehao Runda's 2012 performance report showed that revenue was 2.824 billion yuan, down 7.89% year-on-year, and net profit was only 168 million yuan, down 57.14% year-on-year.
Industry insiders questioned that although the starting point of local government is good, excessive investment subsidies are a major cause of overcapacity in the industry. “The country’s huge subsidies have increased the impulse of some enterprises to invest, and the terminal’s consumption subsidies eventually evolved into direct subsidies to production companies.†An industry insider who asked not to be named said that as long as there is government support, companies look at profit margins. Yes, it will swarm, and then cause overcapacity, and finally can only end in price war.
“National subsidies have no fundamental effect on changing the status quo of the market itself. It can only be scratching,†said the industry insider.
Since the second half of last year, due to the weak global economy, domestic LED product export sales have fallen sharply, while the domestic market has been weak, and coupled with excessive bubbles in the upstream over the past few years, many companies have suffered losses or even closed down.
According to statistics from the High-tech LED Industry Research Institute (GLII), there were more than 80 LED lighting companies in Shenzhen in 2012; nearly 10% of lighting companies in Foshan have closed down; and LED lighting companies in Dongguan and Zhongshan are also in deep recession. . At the same time, 11 of the 20 LED listed companies experienced a decline in net profit.
Dr. Zhang Xiaofei, CEO of Gaogong LED, predicts that one-fifth of LED lighting companies in China will close down in 2013.
Tendency to big companies
Faced with the overall downturn in the LED industry, the country is about to start a new round of subsidies. Li Xinghua said that the state's subsidies have strongly supported breakthrough innovation in key areas of the LED industry.
"In recent years, the national policy has gradually increased the inclination of private enterprises, but enterprises must have certain conditions for government subsidies. After the introduction of the policies, the advantages of horizontal development, operational investment, R&D investment, personnel investment and brand promotion are all A comprehensive factor of government subsidies.†Zhu Bingzhong said that the government subsidy policy is a very effective means to promote the development of emerging industries. This model is not Chinese. Until now, many foreign companies will receive government subsidies, such as Boeing. the company.
Zhu Bingzhong believes that the government's subsidy policy and the provision of research and development subsidies to enterprises can not only promote the progress of new technologies, but also stimulate the market, form mass production, promote the decline of raw material prices, and provide better support for the development of the LED industry. "In recent years, many LED companies have failed to invest, and they have not made any money. If there is a loss, they will blame the government's policy is not good, and the policy guidance has problems, but have they made a risk assessment before investing?"
For the state's subsidy policy, not all companies are applauded. A person in charge of the company said that if the country does not subsidize, the company that has been eliminated will naturally “dieâ€, and the “live†enterprise may have the ability to compete with foreign companies. “The bigger the company is, the bigger it is. The SMEs have neither technical advantages nor capacity advantages. The result is that they are eliminated. At least half of the current market capacity must be eliminated.â€
Recently, the latest list of financial subsidies for LED lighting manufacturers in 2012 and 2013, a total of 39 wins, almost all large enterprises. Many SMEs in China are worried that government subsidies and favorable policies will be biased towards individual large enterprises and will not be of substantial help to many SMEs. In addition, favorable policies will attract more large state-owned enterprises to enter the LED industry and intensify market competition.
Market positioning
The industry believes that in the initial stage of market launch, government subsidies will definitely help to expand the market, and will have a certain pulling effect on the entire industry chain. However, neither the enterprise nor the local government can use subsidies as the only means. Because companies and products that can receive subsidies only account for a small part, to occupy the market depends on technological innovation, brand and channel construction.
"For the healthy development of the LED industry, the government's policy support and application promotion, enterprise technology innovation, industry standard setting, one can not be less." Guan Baiyu, secretary general of China Semiconductor Lighting / LED Industry and Application Alliance said. The blind development of quick success and instant benefit will only lead to insufficient competitiveness, and it will not be able to escape the bad luck in the market. The huge amount of state financial subsidies has not only made these enterprises that have grown up in the greenhouse "new", but has become a catalyst for their "dead". At the same time, it is difficult for the state finances to afford enterprises that are becoming more and more large and have no benefits as long as they are subsidized
Therefore, more and more enterprises in the low-end production capacity are repeatedly investing, taking the government's special subsidy funds, which naturally creates vicious competition in prices. Industry insiders have suggested that the government should encourage downstream enterprises to go upstream, and encourage some enterprises to transform and upgrade high-end products when the operating conditions are relatively good through some special funds of the government. At the same time, low-end packaging factories are encouraged to merge and integrate and transform industrial resources through mergers and acquisitions.
Any opening of the Xiamen LED Industry Promotion Association said that the promotion of LED lighting is not a long-term success, and the replacement process for energy-saving lamps will be long and lasting. "The development of the LED lighting industry is a market economy. If the government policy interferes too much, it will not be conducive to its development in a benign direction, and will eventually follow the footsteps of the photovoltaic industry."
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