Text / high-tech LED reporter Hu Yanling
In the past two years, capital has flooded into the LED industry, and the market has fallen into a frenzied situation. The packaging industry is no exception. Large and small packaging factories have sprung up. Just as everyone agreed that the LED market situation is very good, Guoxing Optoelectronics and Lehman Opto's 2011 first-quarter earnings report has sounded an alarm for everyone, letting everyone gradually realize that the package gross profit is declining, packaging The industry faces a pattern of low-cost homogenization.
In the face of market difficulties, "Lehman positioned high-end, does not tend to price war." Le Man Optoelectronics Chairman Li Mantie proposed a differentiated market strategy. The company's new "Black Beauty" series, with high brightness and high contrast, is the company's unique invention patent.
Recently, Dr. Zhang Xiaofei, CEO of Gaogong LED, led the high-tech LED team to visit Lehman Optoelectronics and started a CEO dialogue with Li Mantie. The two sides carried out issues such as the decline of gross profit, attitude change of capital market, differentiated competition and industrial integration. discuss in depth.
Zhang Xiaofei: There are two companies listed in the package last year, Guoxing Optoelectronics and Lehman Optoelectronics. However, in the first quarter of this year, the two companies reported their earnings, and their profits and gross profit margins have declined to varying degrees, from the market of the high-tech LED industry research institute. According to the survey, it is clear that the domestic packaging industry is entering a channel of homogenization and low price competition.
Li Mantie: It is true that the profit and gross profit margin of Lehman and Guoxing declined in the first quarter of this year compared with last year. Several factors are at work. First of all, the demand for full-color display in the first quarter of this year has been weak year-on-year. Last year, due to the large-scale projects such as the World Expo and the Asian Games, the demand was very strong.
Secondly, the rise in raw material prices and the swallowing of gross profit at three or four points is undoubted, mainly because of the rise in prices of gold, silver, copper and iron, especially silver, which used to cost three or four thousand yuan. About 10,000, recently fell to the level of 7,000 yuan.
The third is that the exchange rate is higher. As our display screens are all exported, the exchange rate continues to rise and the company’s gross profit is swallowed up by one or two points. Other adjustments like the minimum wage will swallow the gross profit of two or three points, and then lower the price again, so that the gross profit of ten points will be gone.
Zhang Xiaofei: The quarterly report of Guoxing and Lehman came out, and the confidence in the capital market hit a lot. This directly led to the different listed companies being treated differently. For example, Hongli’s pricing was only 16 yuan/share, or a bit Hey. The attitude of the capital market to the LED industry is changing. For example, on May 19, Gaogong LED held a high-tech emerging industry technology and investment forum in Hangzhou. Many funds and brokers are cautious about the development of LED market. The contrast last year was very large.
Li Mantie: The two standards of the packaging industry are the national star, one is Lehman, the national star and Lehman packaging products are more concentrated in the field of full-color display, Hongli focuses on white lighting, Ruifeng focuses on white light In the field of lighting and backlighting, the competition is fierce. In the past, the capital market did not know enough about this.
In the past two years, the capital investment in the package has been very large, including many small factories swarming, which has caused the sharp decline of some homogenized products, and the price of the national star has been taken first. Lehman has not been inclined to fight the price war. At present, some products that are homogenized with the national star are not made, so the sales volume in the first quarter is not too big. But the national star had to do it because of his great capacity in this area.
In the past two years, capital has flooded into the LED industry, and the market has fallen into a frenzied situation. The packaging industry is no exception. Large and small packaging factories have sprung up. Just as everyone agreed that the LED market situation is very good, Guoxing Optoelectronics and Lehman Opto's 2011 first-quarter earnings report has sounded an alarm for everyone, letting everyone gradually realize that the package gross profit is declining, packaging The industry faces a pattern of low-cost homogenization.
In the face of market difficulties, "Lehman positioned high-end, does not tend to price war." Le Man Optoelectronics Chairman Li Mantie proposed a differentiated market strategy. The company's new "Black Beauty" series, with high brightness and high contrast, is the company's unique invention patent.
Recently, Dr. Zhang Xiaofei, CEO of Gaogong LED, led the high-tech LED team to visit Lehman Optoelectronics and started a CEO dialogue with Li Mantie. The two sides carried out issues such as the decline of gross profit, attitude change of capital market, differentiated competition and industrial integration. discuss in depth.
Zhang Xiaofei: There are two companies listed in the package last year, Guoxing Optoelectronics and Lehman Optoelectronics. However, in the first quarter of this year, the two companies reported their earnings, and their profits and gross profit margins have declined to varying degrees, from the market of the high-tech LED industry research institute. According to the survey, it is clear that the domestic packaging industry is entering a channel of homogenization and low price competition.
Li Mantie: It is true that the profit and gross profit margin of Lehman and Guoxing declined in the first quarter of this year compared with last year. Several factors are at work. First of all, the demand for full-color display in the first quarter of this year has been weak year-on-year. Last year, due to the large-scale projects such as the World Expo and the Asian Games, the demand was very strong.
Secondly, the rise in raw material prices and the swallowing of gross profit at three or four points is undoubted, mainly because of the rise in prices of gold, silver, copper and iron, especially silver, which used to cost three or four thousand yuan. About 10,000, recently fell to the level of 7,000 yuan.
The third is that the exchange rate is higher. As our display screens are all exported, the exchange rate continues to rise and the company’s gross profit is swallowed up by one or two points. Other adjustments like the minimum wage will swallow the gross profit of two or three points, and then lower the price again, so that the gross profit of ten points will be gone.
Zhang Xiaofei: The quarterly report of Guoxing and Lehman came out, and the confidence in the capital market hit a lot. This directly led to the different listed companies being treated differently. For example, Hongli’s pricing was only 16 yuan/share, or a bit Hey. The attitude of the capital market to the LED industry is changing. For example, on May 19, Gaogong LED held a high-tech emerging industry technology and investment forum in Hangzhou. Many funds and brokers are cautious about the development of LED market. The contrast last year was very large.
Li Mantie: The two standards of the packaging industry are the national star, one is Lehman, the national star and Lehman packaging products are more concentrated in the field of full-color display, Hongli focuses on white lighting, Ruifeng focuses on white light In the field of lighting and backlighting, the competition is fierce. In the past, the capital market did not know enough about this.
In the past two years, the capital investment in the package has been very large, including many small factories swarming, which has caused the sharp decline of some homogenized products, and the price of the national star has been taken first. Lehman has not been inclined to fight the price war. At present, some products that are homogenized with the national star are not made, so the sales volume in the first quarter is not too big. But the national star had to do it because of his great capacity in this area.
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