At 8 o'clock on the evening of December 15, Chengdu High-tech West District, 1000 ç› LED high-efficiency energy-saving street lights first lighted on 13 streets. This is the first LED lighting streetlight project officially implemented in Chengdu after the release of the “Ten Cities and Ten Thousand Miles†program at the end of 2008.
As a new solid-state cold light source, LED has low energy consumption, long life and green environmental protection. It saves more than 55% of electricity compared with traditional high-voltage nano lamps. The life of each lamp is up to 50,000 hours. If it does not turn off the lights for one year, it is equivalent to continuous lighting for nearly 6 years.
But the cost is equally expensive. The LED energy-saving lamps used in Chengdu this time are 6,000 yuan each. It is reported that before the end of 2011, Chengdu plans to install more than 100 million LED street lights.
In early December, Wal-Mart, the world's largest retailer, signed an agreement with CREE in 2009. The two parties agreed that in 2010, Wal-Mart's North American stores (about 650) will use Corey's LED lamps.
LED trend
The stock corresponding to the LED makes it very imaginative in the secondary market. A radical researcher judged that the LED industry will have a CAGR (composite annual growth rate) of more than 60% in the next two years. This is far beyond the most optimistic 30% judgment of mainstream brokerage researchers.
Indeed, the application business opportunities in the LED field are unlimited.
As LED lighting performance (lumens/watt) continues to improve and prices continue to fall, LEDs are driving some new lighting applications. Previously, LEDs were mainly used as backlights for mobile phones and LCD TVs.
Before 2007, the main application field of LED was mobile phone backlight, and the high-end medium and large size LCD backlight accounted for only 2%. In 2008 and 2009, the application of LEDs on liquid crystal displays began to surge. It is conservatively estimated that the shipment of LED-backlit LCD TVs will exceed 5 million units in 2009. This has led to a surge in LED backlights.
But the broader application is in the field of lighting, which is dozens of times larger than other applications.
The general lighting market is most commonly used for incandescent/halogen lamps and energy-saving lamps. Traditional incandescent lamps have the lowest electrical conversion efficiency, with less than 10%, and a large amount of energy becomes heat. Based on energy-saving considerations, a timetable for replacing incandescent lamps has been established all over the world. The replacement of incandescent lamps with energy-saving lamps and LED lamps is the general trend.
At the end of 2008, the Ministry of Science and Technology of China launched the “Ten Cities and Ten Thousand†LED Street Light Demonstration Project. The goal is to illuminate 6 million LED street lights in 21 demonstration cities by the end of 2011, which will be 1 million in 2009-2012. 2 million baht, 3 million baht, and 5 million baht.
From a global perspective, there were 183 million street lamps in the world in 2008, most of which were high and low pressure sodium lamps and mercury lamps. The number of LED lamps was only about 900,000, accounting for only 0.5%. With the active promotion of governments around the world, it is estimated that the proportion of LED street lamps will reach 1% in 2009, and the proportion in 2010 will increase to 2.2%, or about 4.5 million.
However, the cost of using 6000 yuan per gong (150W) in Chengdu is doomed. At present, LED lighting only has the significance of energy-saving demonstration.
"The problem is that LED high-power lighting technology is still immature, not reaching the scale of large-scale commercial use, and the cost is too high." A CEO of a certain LED company in Jiangsu told reporters. As a savvy industrial operator, the CEO is closely watching the development of LED lighting technology. "I can open the machine all the way to produce this kind of lamp, but I won't, because the market application is still immature, but the advantage of this lamp determines its promising future."
Expensive light
The market's pursuit of LED began at the beginning of the year. Take Sanan Optoelectronics as an example. At the end of 2008, it started from 6 yuan and has risen to 40 yuan so far, with the highest increase of 560%, becoming one of the big bulls in 2009.
As a leading company in the LED industry, Sanan Optoelectronics products cover the full-color series of LED epitaxy and chips, accounting for nearly 60% of the national production capacity. The company's gross profit margin has also been at a relatively high level. The company is currently expanding its production capacity and the industry leader will be further established.
In March 2009, the purchase of institutional-specific seats appeared in the return transaction of Sanan Optoelectronics. So far, the securities business of Yinhe Securities Ningbo Jiefang South Road Securities Sales Department has also frequently appeared in the trading list.
Sanan Optoelectronics currently has a stock price of about 40 yuan, which corresponds to a static P/E ratio of 50 times or more, which is obviously at a high level. Some researchers believe that although the LED prospects are good, whether to achieve the expected high compound growth rate is a key issue, the current stock price does not have a margin of safety.
Since the beginning of this year, Dehao Runda, Tongfang, Lianchuang Optoelectronics, and Feile Audio have also invested heavily in the LED field. Similarly, the share price of the above companies has also been boosted.
But radical researchers insist on optimism, even if listed companies like Sanan Optoelectronics are already "expensive." The important reason for this is that Philips, the world's largest lighting company, estimates that the proportion of LED products in its product portfolio will increase from the current 5% to 80% in 2020!
"At present, the cost of LED lamps is relatively high, and the technology is not yet fully mature. We expect energy-saving lamps to play a major role in the short term. However, as technology advances and production efficiency increases, the price of LED lamps continues to decline. After 2012, LED lighting will Entering the decade of prosperity!†Liu Jing, a researcher at Industrial Securities, pointed out in the 2010 investment strategy for the electronics industry.
Obviously, the price of LED lighting has become a key factor in business applications. “No matter how good the prospects are, the market cannot accept expensive light.†A private equity fund manager and reporter from Shanghai discussed the key points of the LED industry. "What is the price, in order to reach a level of popularity, this is a key, 6000 yuan is definitely not acceptable." Research by Industrial Securities Liu Jing found that LED prices will fall by 20% to 25% per year in the future.
In addition, the core patents of LED lighting technology are basically controlled by several major foreign companies, such as Nichia, Toyota Synthetic, Lumileds, Cree, Osram, etc., which have a tight patent network around the world. Although the latecomers of the LED industry in China, Taiwan, and China have already had a certain scale in the LED industry, their development has been greatly restricted by patents.
As a new solid-state cold light source, LED has low energy consumption, long life and green environmental protection. It saves more than 55% of electricity compared with traditional high-voltage nano lamps. The life of each lamp is up to 50,000 hours. If it does not turn off the lights for one year, it is equivalent to continuous lighting for nearly 6 years.
But the cost is equally expensive. The LED energy-saving lamps used in Chengdu this time are 6,000 yuan each. It is reported that before the end of 2011, Chengdu plans to install more than 100 million LED street lights.
In early December, Wal-Mart, the world's largest retailer, signed an agreement with CREE in 2009. The two parties agreed that in 2010, Wal-Mart's North American stores (about 650) will use Corey's LED lamps.
LED trend
The stock corresponding to the LED makes it very imaginative in the secondary market. A radical researcher judged that the LED industry will have a CAGR (composite annual growth rate) of more than 60% in the next two years. This is far beyond the most optimistic 30% judgment of mainstream brokerage researchers.
Indeed, the application business opportunities in the LED field are unlimited.
As LED lighting performance (lumens/watt) continues to improve and prices continue to fall, LEDs are driving some new lighting applications. Previously, LEDs were mainly used as backlights for mobile phones and LCD TVs.
Before 2007, the main application field of LED was mobile phone backlight, and the high-end medium and large size LCD backlight accounted for only 2%. In 2008 and 2009, the application of LEDs on liquid crystal displays began to surge. It is conservatively estimated that the shipment of LED-backlit LCD TVs will exceed 5 million units in 2009. This has led to a surge in LED backlights.
But the broader application is in the field of lighting, which is dozens of times larger than other applications.
The general lighting market is most commonly used for incandescent/halogen lamps and energy-saving lamps. Traditional incandescent lamps have the lowest electrical conversion efficiency, with less than 10%, and a large amount of energy becomes heat. Based on energy-saving considerations, a timetable for replacing incandescent lamps has been established all over the world. The replacement of incandescent lamps with energy-saving lamps and LED lamps is the general trend.
At the end of 2008, the Ministry of Science and Technology of China launched the “Ten Cities and Ten Thousand†LED Street Light Demonstration Project. The goal is to illuminate 6 million LED street lights in 21 demonstration cities by the end of 2011, which will be 1 million in 2009-2012. 2 million baht, 3 million baht, and 5 million baht.
From a global perspective, there were 183 million street lamps in the world in 2008, most of which were high and low pressure sodium lamps and mercury lamps. The number of LED lamps was only about 900,000, accounting for only 0.5%. With the active promotion of governments around the world, it is estimated that the proportion of LED street lamps will reach 1% in 2009, and the proportion in 2010 will increase to 2.2%, or about 4.5 million.
However, the cost of using 6000 yuan per gong (150W) in Chengdu is doomed. At present, LED lighting only has the significance of energy-saving demonstration.
"The problem is that LED high-power lighting technology is still immature, not reaching the scale of large-scale commercial use, and the cost is too high." A CEO of a certain LED company in Jiangsu told reporters. As a savvy industrial operator, the CEO is closely watching the development of LED lighting technology. "I can open the machine all the way to produce this kind of lamp, but I won't, because the market application is still immature, but the advantage of this lamp determines its promising future."
Expensive light
The market's pursuit of LED began at the beginning of the year. Take Sanan Optoelectronics as an example. At the end of 2008, it started from 6 yuan and has risen to 40 yuan so far, with the highest increase of 560%, becoming one of the big bulls in 2009.
As a leading company in the LED industry, Sanan Optoelectronics products cover the full-color series of LED epitaxy and chips, accounting for nearly 60% of the national production capacity. The company's gross profit margin has also been at a relatively high level. The company is currently expanding its production capacity and the industry leader will be further established.
In March 2009, the purchase of institutional-specific seats appeared in the return transaction of Sanan Optoelectronics. So far, the securities business of Yinhe Securities Ningbo Jiefang South Road Securities Sales Department has also frequently appeared in the trading list.
Sanan Optoelectronics currently has a stock price of about 40 yuan, which corresponds to a static P/E ratio of 50 times or more, which is obviously at a high level. Some researchers believe that although the LED prospects are good, whether to achieve the expected high compound growth rate is a key issue, the current stock price does not have a margin of safety.
Since the beginning of this year, Dehao Runda, Tongfang, Lianchuang Optoelectronics, and Feile Audio have also invested heavily in the LED field. Similarly, the share price of the above companies has also been boosted.
But radical researchers insist on optimism, even if listed companies like Sanan Optoelectronics are already "expensive." The important reason for this is that Philips, the world's largest lighting company, estimates that the proportion of LED products in its product portfolio will increase from the current 5% to 80% in 2020!
"At present, the cost of LED lamps is relatively high, and the technology is not yet fully mature. We expect energy-saving lamps to play a major role in the short term. However, as technology advances and production efficiency increases, the price of LED lamps continues to decline. After 2012, LED lighting will Entering the decade of prosperity!†Liu Jing, a researcher at Industrial Securities, pointed out in the 2010 investment strategy for the electronics industry.
Obviously, the price of LED lighting has become a key factor in business applications. “No matter how good the prospects are, the market cannot accept expensive light.†A private equity fund manager and reporter from Shanghai discussed the key points of the LED industry. "What is the price, in order to reach a level of popularity, this is a key, 6000 yuan is definitely not acceptable." Research by Industrial Securities Liu Jing found that LED prices will fall by 20% to 25% per year in the future.
In addition, the core patents of LED lighting technology are basically controlled by several major foreign companies, such as Nichia, Toyota Synthetic, Lumileds, Cree, Osram, etc., which have a tight patent network around the world. Although the latecomers of the LED industry in China, Taiwan, and China have already had a certain scale in the LED industry, their development has been greatly restricted by patents.
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