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What kind of LED chip industry is behind the fate of geometric growth and the cliff-like decline?
As of August 30, 2017, Dehao Runda had completed the first half of its 2017 performance report. Among the listed LED companies, including Aan Optoelectronics, Huacan Optoelectronics, Aoyang Shunchang, Silan Micro, and Ganzhao Optoelectronics, the chip sector's interim financial disclosures have concluded.
Looking at the reports released by each company, Sanan Optoelectronics once again claimed the top spot in both revenue and net profit, solidifying its position as the leader in the domestic chip industry. Sanan Optoelectronics attributed its revenue increase primarily to the expansion of production capacity in the first half of the year, consistent growth in product prices, and a significant rise in production and sales volumes.
Similarly, companies like Huacan Optoelectronics, Aoyang Shunchang, Ganzhao Optoelectronics, Shilanwei, and Guangdong Ganhua all reported impressive double-digit profits. Huacan Optoelectronics saw its operating income reach 1.193 billion yuan in the first half of the year, representing a 94.64% year-over-year increase, while net profits soared by 306.28%. Ganzhao Optoelectronics also posted亮眼results, with net profits jumping by 1748.59% to 101.796 million yuan compared to the previous year. The company credited this success to the recovery of the LED industry market, higher output and sales volumes, reduced costs, and improved product margins.
However, not all companies fared well. Xinhaiyi's overall revenue dropped significantly, falling by 52.57%. Despite this, its LED chip division showed notable growth, with operating income reaching 136 million yuan in the first half of 2017, marking a 69.28% increase from the previous year.
The biggest surprise came from Dehao Runda, whose net profit plummeted by 518.81% compared to the first half of 2016, resulting in a loss of 67 million yuan. Dehao Runda cited mismatches in upstream and downstream production capacities, impacting chip production and performance. Additionally, fierce industry competition and the divestment of its international lighting business in late 2016 contributed to the company's struggles.
Despite these challenges, the LED chip market remains competitive yet promising. Since the fourth quarter of last year, LED chip prices have shown a steady upward trend, signaling an improvement in the overall market.
Ganzhao Optoelectronics, which posted the highest net profit growth, explained that the industry's recovery began in 2016, bolstered by the Chinese government’s 13th Five-Year Plan for semiconductors. Display industry advancements, particularly in smaller pitches, have further driven demand, creating shortages and spurring innovation.
For the remainder of 2017, experts predict stability in product pricing, with chip companies likely to roll out more cost-effective solutions. This balance between supply and demand is expected to continue into 2018.
In 2015, the rapid drop in LED chip prices caused numerous manufacturers to operate at a loss, slowing the domestic output growth rate. However, by the second half of 2016, demand from downstream markets drove chip shortages, prompting a price rebound and renewed growth.
LED lighting remains the primary driver of the chip market's growth. Emerging applications such as UV/IR, small pitch displays, automotive lighting, and optical communication are set to expand, offering significant opportunities for chip manufacturers. GGII predicts that China’s LED chip industry will reach a value of 18.8 billion yuan in 2017, rising to over 28.8 billion yuan by 2020.
In the coming months, with the expansion of manufacturing capacity and increased industrial consolidation, leading enterprises are expected to dominate profitability and market share. To stay competitive, chip companies must focus on R&D, cost reduction, and partnerships with downstream enterprises to ensure reliable supply chains.
Over the past 15 years, China’s LED industry has grown at an average annual rate of 30%, driven by steady demand in general lighting and backlighting. Emerging applications promise to fuel future growth, making the LED chip industry a key player in the global semiconductor market.