China's LED industry investment situation analysis, LED industry has a relatively long industrial chain (including upstream, midstream, downstream and applied products), the technical characteristics and capital characteristics of each field vary greatly, from upstream to midstream to downstream, the industry enters The threshold is gradually reduced. The upstream epitaxial wafer has the typical "double high" (high technology, high capital) characteristics. The midstream chip has high technology content and relatively dense capital. The downstream package is lower in technical content and capital investment, and the technical content and capital of the applied products. The minimum investment. From the perspective of investment scale, the situation of all aspects of the LED industry chain is as follows:
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Different investment targets in the LED industry chain
The different characteristics of the LED industry chain have attracted different investment targets. From the perspective of China, the upstream/middle-end extension/chip field is concerned by companies with strong capital strength. These companies have listed companies (such as Jiangxi Lianchuang and Changjiang Electronics Technology Co., Ltd.). Etc.), there are also private enterprises with strong capital (such as Shenzhen Century Jingyuan, Xiamen Sanan, Dalian Lumei, etc.), aiming to take the lead in the LED field through high-end cuts in the upstream and midstream; however, the investment in this field is large. Professional and technical personnel are relatively scarce, investment risks are relatively large, and the return rate of invested companies is not high.
The downstream packaging field has also received a lot of attention from investors recently. Compared with the “double high” feature of epitaxial chips, the investment packaging field can not only reduce the technical risk, but also the investment scale is moderate, closer to the application market and reduce the market risk, so it is invested. The favor of the people, especially for power-type packaging is more full of expectations.
The market entry threshold for applied products is the lowest, which is directly facing the terminal market. It has small technology risks, low investment and fast recovery. It is the first choice for small capital to enter the LED industry, such as Christmas lights, lawn lights, flashlights, and indicator lights. Products such as signal lights, such enterprises have formed industrial agglomerations in Shenzhen, Guangzhou, Xiamen, Ningbo, etc. However, due to the low barriers to entry in this field and increasingly fierce market competition, orders are crucial to the survival and development of enterprises. Most manufacturers Adopting a low-price competition strategy, the product quality lacks basic guarantee.