Sanan Optoelectronics announced on September 28 that the company received the Anxi County Finance Bureau's "Annxi County Finance Bureau's Notice on the Appropriation of Financial Subsidies for the Sapphire Substrate Project of Sanan Optoelectronics Co., Ltd." Ancai Enterprise [2012] Document 288, the main content of the document is: To implement the country's call to vigorously develop energy-saving and environmental protection industries and build a conservation-minded society, according to the county government's goal of accelerating the cultivation of high-tech emerging industrial clusters, and promote the development of Anxi County's LED photoelectric industry chain, For the company's sapphire substrate project, the “Science and Technology Three†financial subsidy fund of 60 million yuan was allocated. At present, the payment has been received.
According to the relevant provisions of the enterprise accounting standards, the subsidy is recognized as current income when received. This matter will have a positive impact on the company's third quarter 2012 results.
Sanan Optoelectronics announced on the evening of October 8 that Anhui Sanan Optoelectronics Co., Ltd., a wholly-owned subsidiary of the company, received on September 29 from the Wuhu City Development and Reform Commission "Regarding the Forwarding of the 2012 Strategic Emerging Industries (Energy Conservation and Environmental Protection) Project Investment Plan in the Central Budget "Notice", Anhui San'an high-efficiency energy-saving semiconductor lighting LED epitaxy and chip industrialization project received Anhui Province's 2012 strategic emerging industry (energy conservation and environmental protection) project central budget investment of 20 million yuan. In addition, according to the import product discount standard approved by the Ministry of Finance's "Notice on Allocation of Imported Product Discount Funds in 2011", Anhui Sanan received RMB 15.814 million in import interest discount funds.
The company's holding subsidiary Rixin Photovoltaic Technology Co., Ltd. received the "Notice on Appropriation of Special Subsidies for the Application and R & D of Rixin Photovoltaic Chips" from the Finance Bureau of Huainan High-tech Industrial Development Zone on September 30. The financial special subsidy is 30 million yuan, which is used for the company's chip and research and development subsidies.
Business performance benign development
The upstream epitaxial chip link of Sanan Optoelectronics LED is still a technology and capital-intensive industry link. The company has increased capital and fixed assets through refinancing and government subsidies. It has reached the scale effect. At present, the company has more than 140 MOCVD equipment, the number of steps Into the forefront of the international. In 2011, through overseas R & D investment and the introduction of a large number of talents, the company quickly improved the company's key technologies in MOCVD, especially in terms of luminous efficiency (above 140lm / w), reliability, and yield rate (70%). At present, it has reached the domestic leading level and a high international level, which has laid a good foundation for the application of the company's products and the expansion of the scope of customers.
The company's industrial chain has extended from epitaxial chips to sapphire, and involved the packaging link downward, directly entering the application and engineering fields. The overall advantages of the industry chain ensure the stability of the company's sapphire supply and LED chip shipment channels; the chip type has expanded from the original landscape decoration, display and other fields to LED street lights, LED general lighting, large-size backlight, and automotive lighting fields. The expansion of the company's chip application area opens a wider market space, and the company's core MOCVD equipment has the largest domestic scale advantage, which has stabilized the company's leading position in the country. The growth momentum of the company from 2012 to 2014 mainly came from the improvement of the company's yield rate, the improvement of equipment utilization rate and the increase of the number of equipment. The company is planning to invest in equipment for the second phase of Wuhu. It is expected that the company will have more than 100 MOCVD equipment in the future. The investment in new equipment is expected to increase the company's production capacity, or it may be one of the main drivers of the company's revenue growth.
Targeting the Taiwan LED market
The Ministry of Economic Affairs of Taiwan launched the fourth wave of land investment in Taiwan in August to review the strategic industries such as LED.
Sanan Optoelectronics is the first mainland manufacturer that has expressed interest in Taiwanese LED factories recently. Sanan will also dig into corners and sell chips to announce the stage of mergers and acquisitions. Both sides of the strait can work together to build a world-class LED factory. " San'an is currently the largest and best-quality full-color ultra-high-level LED epitaxy plant on the mainland, and is second only to wafer photoelectricity on both sides of the strait. Lin Xiucheng said that San'an's revenue is expected to reach RMB 3 billion this year (about NT $ 14.1 billion), and next year it will reach RMB 4.5 billion. Sanan estimates that the annual output of LED chips in 2013 will reach 10 million pieces, and the LED chip will also reach an annual production scale of 300 billion pieces.
However, Jingdian denied the land plant's shareholding and preferred to continue to cooperate with the land plant through joint ventures.
The chairman of Jingdian Li Bingjie believes that with the mainland ’s subsidy for the LED industry ending in 2014, there may be only 5 remaining LED factories in China by 2015. The LED industry has been severely impacted by the uncertain economy and overcapacity, and the industry restructuring has gradually fermented. Since the second half of this year, the Taiwan plant has already obtained 100% shareholdings in Guang gallium, and two cases of industrial consolidation by Ronda consolidation and power alliance The number of mainland LED factories is large and scattered. The industry pointed out that from the perspective of the grain segment, there are currently 10 LED die factories in mainland China for sale. It is expected that the land plant will be closed in the fourth quarter.
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