Hottest 2014 strong lighting demand led chip produ

2022-08-03
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In the report in January, our view on the LED industry is that all samples between the two fixtures will get different degrees of tensile deformation. "Don't worry about demand in the first half of the year, don't worry about supply in the second half of the year". Recently, we investigated the LED industry chain and entered the industry peak season in March. The strong orders of lighting manufacturers verified the first half of our view, The chip manufacturers' tangled attitude towards production expansion makes us more optimistic about the supply-demand relationship of LED chips this year; In the January report, our view on the LED industry was "don't worry about demand in the first half of the year, don't worry about supply in the second half of the year". Recently, we investigated the LED industry chain. Entering the peak season of the industry in March, the strong orders of lighting manufacturers verified the first half of our view. The tangled mentality of chip manufacturers for production expansion made us more optimistic about the supply-demand relationship of LED chips this year

strong demand for LED lighting: in 2014, the price of LED lighting products further declined. The price of 5wled bulbs that replace 40W incandescent lamps has reached the range of yuan, and the terminal price of 16wt8 tubes has also dropped below 40 yuan. In addition, lighting enterprises actively compete for the market share by taking advantage of the excellent characteristics of graphene, and the shipment of LED lighting products has increased significantly, We expect that in 2014, the LED business of several large lighting enterprises in China will achieve an increase of about 100% by 10 points, pay attention to the construction of innovation centers, and the revenue will account for nearly 50%

upstream chip equipment investment is still at a low ebb: Although the demand for LED chips has remained strong since the second half of 2013, the orders of Veeco and aixtron are still at the bottom of history. In the fourth quarter, the number of MOCVD shipments fell further to 40, reflecting that few chip manufacturers are really willing to expand their production

the expansion of chip factories is in a tangled stage: the strong demand for LED lighting drives the demand for chips. In March, the first and second tier chip factories basically entered the full production stage. Due to the expectation that Veeco and aixtron will launch new equipment with higher cost performance, the chip factories are currently hesitant about capacity expansion. We expect that this state will continue until the finalization of the new MOCVD model, It increases the possibility of chip supply shortage when the peak season comes

investment suggestion

led is the most certain industry this year, but for the general manufacturer industry, entering the traditional peak season of LED in March, the rapid growth of orders will begin to be realized. We continue to recommend lighting manufacturers in the international supply chain system: sunshine lighting and Foshan Lighting

led chip manufacturers are currently hesitant to expand their production, which greatly increases the possibility of tight chip supply in the peak season of the industry. At present, it is also the best time to invest in chip manufacturers. We recommend Aoyang Shunchang, San'an optoelectronics and Dehao Runda

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