Looking at the LED industry from the Olympics to analyze the credit investment opportunities


The opening ceremony of the 29th Olympic Games, directed by Zhang Yimou, demonstrated its 5,000-year-old civilization in China with its grandeur. In this magnificent opening performance, LEDs have been widely used. Countless LEDs have made the stadium a multimedia space in the digital age.

The large number of LEDs used in this opening ceremony will greatly promote the future development of the industry. At present, the LED industry chain has been basically mature, and local manufacturers have formed an industrial chain that can provide epitaxial wafers, LED chips, driver chips, lamps and engineering.

First, the Chinese government vigorously supports the development of the LED industry

China's LED industry started in the 1970s, and the high-brightness LED industry developed rapidly in the late 1990s. China's LED industry has initially formed a relatively complete industrial chain. After experiencing the road of buying devices, buying chips, and buying epitaxial wafers, China's LED industry has already realized the independent production of epitaxial wafers and chips. At this stage, the number of people engaged in the industry is more than 50,000, more than 20 research institutions, more than 4,000 enterprises, including more than 50 upstream enterprises, more than 1,000 packaging enterprises, and more than 3,000 downstream application enterprises. In particular, the establishment of China's semiconductor lighting working group in 2003 marked the government's high hopes for the development of LED in the field of lighting. LED as a light source into the general lighting market has become the core of future industrial development. Driven by the national semiconductor lighting project, Dalian Industrial Park, Shanghai Zhangjiang High-Tech Park, Nanchang Lianchuang Optoelectronics Technology Park, Xiamen Kaiyuan Science and Technology Park, Beijing Yizhuang Economic and Technological Development Zone and Shenzhen Guangming High-tech Zone were formed. The Yangtze River Delta, the Pearl River Delta, the Triangle and the North have become the gathering places for the development of China's LED industry.

Due to the weak technical strength of China's LED industry, it is still in its infancy, and the country's large-scale school is highly valued, and the semiconductor lighting products are clearly listed as key areas and priority in the National Medium- and Long-Term Science and Technology Development Plan. The theme is to focus on high-efficiency, energy-saving, long-life semiconductor lighting products. The National Development and Reform Commission has launched ten key energy-saving projects and proposed energy-saving targets of saving 240 million tons of standard coal during the 11th Five-Year Plan period. Green lighting is an important aspect.

At the beginning of this year, the Ministry of Finance and the National Development and Reform Commission jointly issued the Interim Measures for the Administration of Financial Subsidy Funds for Efficient Lighting Products Promotion (Cai Jian [2007] No. 1027). This is another important measure taken by the Chinese government to increase efforts to promote efficient lighting products and promote energy conservation and emission reduction targets. At present, China's energy-saving lamp market accounts for a large share of the entire lighting market, so it still has a lot of room for development. Some institutions predict that the annual average compound growth rate of the domestic energy-saving lighting industry will reach 27% in the next five years, and With the support of national policies, development may be faster.

In the field of lighting, China is the world's largest producer and the second largest exporter of lighting appliances. The semiconductor lighting industry has a strong industrial base. Therefore, China's LED will face tremendous development opportunities in the future.

Second, enterprises are concentrated in the downstream of the industrial chain

At present, the world has formed a three-pronged industrial structure dominated by the United States, Asia, and Europe, and has taken the lead in Japan, the United States, and Germany. China, Taiwan, and South Korea are closely followed, and China, Malaysia, and other countries and regions are actively following. The echelon distribution. In the upstream epitaxial wafer and chip production of LED, the United States, Japan, and the European Union still have huge technological advantages, while Taiwan has become an important LED production base in the world.

There are more than 600 LED enterprises in China. The enterprises are mainly concentrated in the downstream packaging and application fields. There are more than 10 enterprises engaged in LED upstream epitaxial wafers and midstream chips.

In 2007, the output value of China's LED market application products has exceeded 30 billion yuan. It has become the world's largest producer and exporter of LED full-color display screens, solar LEDs, landscape lighting and other application products. The emerging semiconductor lighting industry is taking shape. China's LED market has formed certain characteristics in the field of lighting, among which outdoor lighting is the fastest growing. There are hundreds of LED street lighting companies and dozens of demonstration roads are built, but the Chinese market is in large-size LCD backlights and car headlights. Still lags behind. LED display screens in China have been widely used. LED car lights are widely used, and the most demanding headlights may have new breakthroughs this year. LED backlights for LCDs have also reached the practical stage of application this year. LED street lights are likely to be heavily invested in road lighting in 2008, and the general LED lighting concept will be clearer.


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