[Wen|High-tech LED Zhao Hui] After experiencing a relatively "dark" market in 2015, LED seems to be ushering in a new wave of enthusiasm, and investment institutions led by funds and brokerages are still the first to "awake". Intensive research was conducted on a number of “materialized†LED listed companies.
In the past two years, institutional research has become one of the important references for investors to judge the quality of listed companies and select targets. Especially since the end of the year and the beginning of the year, A shares have been ups and downs, and when entering a new round of adjustment period, the reference value of institutional research is even more important.
During this period, investment researchers of public funds, insurance, brokerages, and private placements all conducted intensive research. Among the listed companies under investigation, LED listed company Liard (300296.SZ) was only the top ten in January. The day has received more than 20 institutions for on-the-spot investigations, including Guotai Junan Securities, Guosen Securities and other brokerages as well as Huaxia Fund, Harvest Fund, and Hezhong Assets.
Liard has been the focus of institutional attention for the past two years. Especially since last year, almost a few batches of institutional research have been received every month. According to the 2015 annual results forecast, Liard expects the 2015 profit to be 314.58 million yuan - 330.71 million yuan, an increase of 95%-105%.
Investors said that the companies that obtained institutional research have relatively good stock prices. It is likely that some institutions have made new judgments on the company's value after investigating the company's situation on the spot; considering the disclosure period of the annual report in the first quarter. And many companies have to go to the investigation after the disclosure of the annual report, which indicates that with the deepening of the disclosure of the annual report, the organization may launch a round of swaps.
“With the expansion of the performance of Lifeng Culture and Jin Lixiang, the performance of the LED cultural and educational media sector has surged. With the rapid development of the LED intelligent lighting sector driven by the high performance of Jinda Lighting, the four-wheeled sector has entered the stage of development.†Li Nannan, the director of the Board of Directors, said that the cultural tourism performance PPP will become a new growth point for the company's performance.
The “PPP Mode†of cultural tourism performances created by the company will integrate LED display, LED small-pitch TV, LED intelligent lighting and LED cultural and educational media in urban cultural tourism, and will Liard, Jinda Lighting and Reed The advantages of Feng Culture, Jin Lixiang and Pinergy Optoelectronics technology, products and design have been fully demonstrated. To carry out the cultural tourism performing arts PPP project, the company can realize the profit by constructing investment, operation management, recovering investment, construction and operation costs from the income of the project's fixed franchise service fees and obtaining certain profits.
Talking about the strategy for the next three years, Li Nannan said that Liard's medium-term strategic goal for the three-year period of 2016-2018 is to achieve high compound growth in profits. Specifically, it is a new starting point for the integration of the cultural tourism performance PPP model; fostering a new direction - sports and education; leveraging a new platform - global market expansion.
In the past two years, it has rapidly expanded its production capacity. At present, LED epitaxial chip factory has become the second largest in China. Huacan Optoelectronics (300323.SZ) has also ushered in investigations by many organizations in December and January. The focus of the research is mainly on the investment planning of the new Yiwu base.
“The company signed an investment framework agreement with Zhejiang Yiwu Industrial Park Management Committee before New Year's Day. The whole project includes: 1. The company's main business LED epitaxial chip will carry out further capacity expansion in Yiwu Industrial Park. Second, the industrial chain extension project, this Part of the specific content needs to be expanded. It is jointly established with Yiwu Industrial Park and related parties to establish an industrial M&A fund. Through mergers and acquisitions of M&A funds and other channels, from the company's established business scope, it is not only the LED industrial chain, but also various Materials and devices related to semiconductors. The current M&A target is the already announced Blue Crystal technology. If the merger is successful, we will also use it as an industry chain extension project to expand capacity. The above is the general direction of investment." Hua Ai Optoelectronics, Secretary-General Ye Aimin said that on the scale of the project, LED epitaxial chips should be invested in phases, and other industrial chain extension projects should also be divided into sub-projects with a total investment of 6 billion yuan.
For the future, Ye Aimin is full of optimism. "LED epitaxial chip part is a highly concentrated industrial chain. With the global LED supply capacity concentrated in mainland China, we predict that there will be 5-8 companies in the domestic and international extension chip, of which only 2-3 leading enterprises The competitive landscape will be relatively stable at that time. In addition, with the overseas sales expansion of mainland Chinese enterprises, it poses a threat to large-scale overseas manufacturers, which has forced foreign manufacturers to increase the price cuts and compete positively. This is mainland China. LED epitaxial chip companies occupy the inevitable process of the global mainstream, for the mainland LED chip leading enterprises, the prospects are bright."
Encapsulated Dachang Hongli Optoelectronics (300219.SZ) Dongshou Deng Shoutie told the institutional investors who came to investigate. At present, the company and its wholly-owned subsidiary Smect have a total LED packaging capacity of 2200 KK/month.
When asked how to look at the trend of the LED market next year, Deng Shoutie believes that the LED market will continue to maintain an upward trend next year. As the price of LED products declines, lighting demand rises and product penetration increases. Although the price decline affects the profitability of enterprises in the short term, it is conducive to the long-term sustainable development of enterprises and is conducive to the development of the industry.
Judging from the recent investigation of LED listed companies by institutional investors, the LED industry is expected to warm up after a downturn last year, ushered in a new wave of development.
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