Looking ahead to 2015, LED drive power industry think, LED industry chain and merger integration will show the following five trends:
Trend: overall merger would amount to more than 20 billion, 500 million yuan more than the scale of M & A cases will increase.
Trends: LED Interior Lighting-merger cases will break through and become the most important protagonist. Industry consolidation, the most important part of showing the absence of industry consolidation has not yet entered the peak period, the critical period of consolidation began in 2015 arrived.
Trend three: sapphire and upstream chip industry will break the deadlock and mergers and acquisitions. Currently upstream sapphire LED chip industry chain integration and almost no cases, rare cases nor combination or complementary. 2015, sapphire and chip links will appear successful and merger cases.
Trend four: the traditional lighting companies to force and mergers and acquisitions. Most of the traditional lighting companies in the domestic channels and take advantage of weak export sector, the international brand awareness substantially zero, but in export there is still much room for development.
Trend five: the merger will go international. Overseas merger cases will increase, as the domestic LED industry chain outstanding enterprises to go abroad intention to enhance the integration of foreign enterprises and LED lighting industry chain channels will be put on the agenda.
Recalling 2014, 2014 LED lighting industry and M & A events surge in M & A-related cases and more than 100, and mergers and acquisitions worth more than $ 10 billion. Wherein the LED industry chain Listed companies over 20 M & A cases, the amount of mergers and acquisitions over 6 billion. Listed Company to acquire 100% stake in Shanghai Feile Audio-Visual Security Group 1.59 billion yuan, Tsinghua Tongfang acquired 51.6% stake in Neo-Neon 900 million Hong Kong dollars, rectangular photoelectric acquired a 60% stake Kang Ming Sheng 528 million yuan, ranking the top three.
Overall listed companies related to M & A cases, showed the following four characteristics:
First, the 2014 LED industry chain acquisitions of listed companies active in cross-border M presents complementary acquisitions based. Related Information Now 2013-2018 China LED Industry Market Research Report China Report Hall released.
Second, the main business enterprise horizontal integration the proportion is very small, the main industry horizontal expansion of M & A cases only easy to acquire, build photovoltaic Cedel, Hongli Opto-electronic acquisition Ismail was, Chau Ming Technology acquired Blue Pu Technology.
Third, the absence of corporate mergers and acquisitions feast indoor lighting, LED industry as the most important part of the engine room lighting companies, mergers and acquisitions wave in 2014 but in the cold. LED Engineering Research Institute believes that, mainly because 1) LED indoor lighting companies have most of the terminal sales channels is the traditional lighting business transformation over the pure LED lighting scale enterprises basically export-oriented, the two companies for the current LED listed companies to control more difficult. 2) Excellent LED interior lighting companies are doing the listing, mergers and acquisitions is not strong intent, acquisition cost is very high. So, even if there are several LED interior lighting and merger cases it is still in the preliminary contact with the negotiation process, is also not successful merger cases.
Fourth, the traditional lighting and LED lighting business enterprise integrated with each other is not obvious. This LED lighting industry in the period of development of gold industry in the early brewing about horizontal integration. For traditional lighting companies, the presence of domestic listed companies in traditional lighting below normal, only NVC, sun, snow Wright, according to the Buddha, Benjamin and a few other enterprises, and TCL beauty of the lighting in the proportion of the size of the group is still less difficult to have large-scale operations. For international companies, the domestic LED lighting business into the international business is hard stuff. For LED lighting business, there is no one to LED-based interior lighting listed companies.
For the LED industry chain and mergers and acquisitions, industry insiders said that with the LED lighting industry chain competition, enterprises are facing greater competitive pressures and the pressure to survive, LED lamp power industry remaining 2--3 years of prime time. Excellent chain companies need to change the concept of access to finance and mergers and acquisitions by the form and implementation is also a very good way to indirectly market. Most companies have a financial strength, rapid development and expansion in the form of mergers and acquisitions will be more effective, but not necessarily through their own channels, the expansion was built gradually scale of development. By industry consolidation and M & A trends in the moment, there will be 3 years after the ten billion level of the enterprise is a high probability event. Domestic enterprises vision need more international, international companies Philips, Osram, GE, CREE and so is the chief mergers and acquisitions as an important means of growing, domestic enterprises in the international process, the success of the use and acquisition strategy, will be its international the key of success