Do you think LED production capacity is overdone? Read the data first.

2018-09-26 14:31:08

Yesterday, the Shanghai Composite Index repeatedly competed around 3900 points, with an amplitude of nearly 3%. It was near the end of the broader market, and the rise of state-owned enterprises, power and real estate sectors pushed the index up. More than 2,500 shares in the two cities rose, with more than 100 stocks. At the close, the Shanghai Composite Index rose 1.76% to 3954.56 points, with a turnover of 578.7 billion yuan; Shenzhen Component Index rose 2.12% to 13395.18 points, with a turnover of 496.1 billion yuan. On the disk, the sector has nearly risen across the board, with trade agents, public transportation, electricity and the Internet rising sharply.

UBS recently released an electronic component industry research report that the global LED chip supply and demand balance, the overcapacity situation has further eased, lighting has gradually become the most important application of the LED industry, which is good for China's LED industry chain, the future LED chip manufacturers are the most beneficial, individual stocks The most optimistic leader of Sanan Optoelectronics, followed by Huacan Optoelectronics and Ganzhao Optoelectronics.

First, UBS explained the concept of LED, a compound semiconductor device that converts electrical energy into visible or invisible light. The LED adopts electric field illumination, compared with the traditional light source, the LED light source has the characteristics of high luminous efficiency, long life, low energy consumption, small volume, no pollution, low radiation and the like. Since 2013, the penetration rate of LED lighting has increased rapidly, driving the demand for LED chips. Currently, LEDs are widely used in lighting, display, signal indication, automotive, mobile phones, television and other fields.

Since 2011, the global LED market has experienced a serious oversupply. This is mainly because the Chinese government promotes energy conservation and emission reduction. Local governments have successively introduced policies to encourage LED chip companies, including subsidies of RMB 8 million to 10 million yuan for MOCVD core equipment for LED chip production. At the same time, the demand for LED-backlit TVs has increased, which has led to the expansion of LED manufacturers in Taiwan and South Korea. This has led to a significant increase in global LED chip production capacity, exceeding demand growth.

In 2011, the global LED chip production capacity was about 44.2 million square inches, while the demand for the same period was only 33.97 million square inches, and the supply-demand ratio was as high as 130%. However, UBS's recent research shows that due to the limited new capacity of major LED chip manufacturers in the world and the continuous growth of demand, the global LED chip supply and demand ratio fell to 104% from 130% in 2011, and the overall balance is in the LED industry. Chain companies bring benefits.

Global LED production capacity is no longer surplus

Benefiting from the global phase-out of incandescent lamps and the declining price of LED lighting products, the penetration rate of global LED lighting is expected to reach 30% in 2015. UBS research shows that the demand for global LED chips for lighting applications is expected to increase significantly from 17% in 2011 to 54% in 2015. As the global production base of LED lighting products, China's output accounts for 80% of the world's production, which is the most beneficial.

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