Observe: In 2012, LED lighting landscape has a lot of unique difficulties

Looking back at 2011, in the shadow of the financial crisis, with the European debt crisis, the credit ratings of the United States and other countries have been lowered, and inflation in emerging market countries has increased, the international environment is facing new uncertainties and complexity. At the same time, the state placed the control of price rises at the top of economic work. Under this requirement, a series of measures such as raising the deposit reserve ratio, raising interest rates, housing purchases, and appreciation of the renminbi have come one after another. Many SMEs are facing shrinking funds and markets. , the pressure of product destocking. As an emerging industry, LED lighting industry is affected not only by the global environment, but also by its industry specificity.

International: European debt crisis proliferates the global economy Rebalancing The world’s top three rating agencies downgraded Greece’s sovereign rating, Greece’s debt crisis has intensified, and Pandora’s box has opened up the debt crisis in Europe. Subsequently, the crisis spread to Belgium, Ireland, Portugal, Spain, Italy and many other countries. The sovereign debt of the French column and the German column of the Eurozone also faced challenges. The debt crisis began to spread from the peripheral countries of the Eurozone to the core countries, and even analysts Predicting that the euro zone will be dissolved, the global economy is shrouded in the shadow of European debt.

In fact, behind the European debt crisis is a deeper level of competition. It is that the United States and Europe are embarking on a battle between currency dominance and debt resources. In fact, the United States continues its "structural power" given by its financial currency hegemony. Since the birth of the euro, the euro has emerged as the most powerful potential competitor in the world and has comprehensively challenged the dollar hegemony system. As a result, the U.S. rating agencies continued to downgrade the sovereign credit ratings of Greece, Ireland, and Belgium. They took turns to create a turmoil in the European debt crisis and turned short the euro. The U.S. dollar used the “safe haven nature” and staged strength to return capital to the U.S. The United States has become the winner of this crisis. Dollar assets, including US Treasury bonds, US stocks and other institutional bonds, have been greatly sought after.

The impact of the European debt crisis on China is currently short-term and limited. The main effects are the following two aspects. The first is the impact on exports. The crisis has led to a decline in economic growth in the euro zone countries. The EU is also China's largest export market, which currently accounts for about 18% to 21% of China's export market. Therefore, if foreign demand from the EU declines, trade protectionism will rise and the export situation will not be optimistic. Secondly, the European debt crisis has led to aggravating global risk aversion. Funds have returned to the US dollar. China is facing short-term capital from inflows to outflows. Investment has been slowed down, and economic growth has been affected. If the RMB continues to appreciate, or if China reintroduces stimulus policies, It will also lead to more short-term capital inflows, which will cause greater pressure on the mainland’s inflation and asset prices.

Mainland: tightening policy, economic environment to make the market cool In 2011, CPI has been operating at a high level, only gradually fell back at the end of the year. The rise in prices has affected people’s lives and irritated the Prime Minister’s heart. The government has continuously introduced a monetary tightening policy, which has caused liquidity to dry up, the economic growth rate to slow, and the cost of financing for SMEs to rise sharply.

On January 26, 2011, eight new countries were born, and the central government determined the control policies of the eight buildings. Among them, it is explicitly proposed that purchasers with multiple properties should be prohibited from buying, and more than 40 cities across the country have also introduced measures to restrict the purchase of commercial housing. Under the regulation of the policy, the housing market finally entered an inflection point in November after entering November. According to data released by the Statistics Bureau, housing prices in 70 large and medium-sized cities in October fell by an average of 0.14% month-on-month, and they fell for the first time since 2011. Some cities have check-out tides. Bureau of Statistics data show that in November the national housing climate index hit a new low of 28 months, only 99.87, close to the value of 99.68 at the time of the global financial crisis in October 2008. This series of intensified regulatory policies allowed the once-profiteering real estate industry to enter the autumn. The LED lighting industry associated with real estate is also subject to “success” and the degree of prosperity is no longer.

Affected by inflation, the increase in labor costs and logistics costs also plagues the development of enterprises. Production costs increase directly by two to three percent.

Although the cost of LED companies has increased significantly, due to the economic downturn and fierce competition in the industry, the vast majority of companies' products are difficult to price, and in order to maintain the normal start-up of the factory, they can only accept the fact that profits have become thinner.

LED lighting: the unique landscape of dilemmas and many emerging industries as the LED lighting industry, how to perform in this complex economic situation?

Last year, Guangzhou Guangya Exhibition, known as the "Global Lighting First Exhibition," was held at the Guangzhou Convention and Exhibition Center. From the hot sale of booth items, to a wide array of products, and to the visitors, the LED lighting industry was not affected at all and it was still alive and well. The scene. Taking this opportunity, the author also communicated with numerous manufacturers and industry experts. The overall impression is: LED lighting industry landscape is good, but there are many difficulties.

LED lighting industry landscape is unique, mainly in the lighting and lighting industry and LED companies. If Londa's vertically integrated business model worked, it entered the supply chain of international manufacturers, and thus successfully compensated for the weak performance in the backlight market. Lite-On said that it has signed strategic alliance agreements with six lighting companies, and will supply LED lighting sources and LED lighting modules in the future. In addition, Changzhou Jingpin Optoelectronics has also officially started production in September 2011. In the next five years, the scale of China's LED lighting market will reach US$7.6 billion. As China has a complete lighting production base and supply chain, coupled with the market potential of domestic demand, many manufacturers are optimistic about the development of China's LED lighting market and accelerate the layout, including crystal In cooperation with Sunshine Lighting (600261, Shares) and NVC Lighting, Yiguang teamed up with Shanghai Yaming to cooperate with NVC Lighting.

Philips, a lighting brand manufacturer, announced the establishment of an LED lamp factory in Chengdu, which is also Philips' second largest investment in China. In addition, LED manufacturers such as Lite-On and Ronda are also actively entering the supply chain of international manufacturers. Each target is continuously pulling up the proportion of revenue from lighting products, stepping up training, and early deployment of the lighting market.

Recently, there have been signs of fine-tuning of macro-control policies, but real estate regulation has continued to deepen. I believe that many small and medium-sized LED lighting companies in the face of 2012 have come to heart, the appreciation of the renminbi, labor and materials costs, financing difficulties, government regulation and other items are all in their minds. While more international brands and first-tier companies rely on the advantages of technology, pipelines, and brands, they continue to grow bigger and stronger under the operations of listing, mergers and acquisitions, and reflect the constant phenomenon of Hengda.

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