(Text / High- tech LED reporter) On January 13, 2003, Ruifeng Optoelectronics (30241.SZ) and NVC Lighting (02222.HK) officially signed the "Cooperative Framework Agreement" in Huizhou. According to the plan, the two parties intend to jointly invest 50 million yuan to establish a joint venture company engaged in the research and development of LED packaging technology for high-power lighting, LED packaging products manufacturing and sales, of which Ruifeng Optoelectronics accounted for 51%, and NVC optoelectronics accounted for 49%. The joint venture company is located in NVC Industrial Park, Huizhou City, Guangdong Province. The production base is mainly focused on LED lighting devices and module production. It is expected to start production at the end of April 2012.
"In the field of lighting, we will combine with mainstream lighting manufacturers. It may be equity or product. Our cooperation will definitely not be simple. I will supply you with a product. We will carefully arrange one or two. Strategic partner.†This is a passage mentioned by Gong Weibin, chairman of Ruifeng Optoelectronics, in an interview with Gao Gong LED reporter in early 2011.
Compared with other packaging companies to expand their downstream investment and build factories, Ruifeng Optoelectronics, which has been focusing on packaging, has chosen to extend its reach to the downstream by joint venture, which seems to be more in line with Gong Weibin's strategic vision.
In 2011, Ruifeng Optoelectronics also failed to escape the impact of the industry downturn on the main business.
According to the previously announced annual results forecast for 2011, the company expects that the net profit attributable to shareholders of listed companies from January 1, 2011 to December 31, 2011 will be profit of RMB 28,955,500 - 37,734,100. The year-on-year decline was 15%-35%.
The reason is due to the huge changes in the overall domestic market in 2011. The hot market in 2010 did not continue into 2011. The growth of the terminal application market was far less than expected due to the international financial situation, resulting in an imbalance between supply and demand in the upstream and downstream of the industry chain. In addition, the domestic packaging market is highly competitive, and the gross profit margin of product sales continues to decline. According to the statistics of the High-tech LED Industry Research Institute, the average price of domestic packaged devices fell by 23% in 2011.
Regarding why he chose to launch the downstream lighting market at this time, Gong Weibin expressed his confidence in the LED lighting market in 2012: "This year, the market will be better than 2011, and each LED company will spend three or four months. To digest the inventory, the cleaned up is cleared. Normally, 2012 will be the process of replenishing LED companies. In addition, the current unit price of LED lighting products has dropped by a large margin, and the amount of lighting products will follow. Doubled growth. The growth of this market is not 200% growth, but 400% growth."
According to the reporter, the current LED lighting market is still in a stage where prices are falling rapidly and the number has not increased significantly. From January to September 2011, the company's comprehensive gross profit margin was 29.63%, a decrease of 0.415 percentage points year-on-year. The main reason for the decline in gross profit margin was the decrease in the price of LED lighting products of the company during the reporting period. For Ruifeng Optoelectronics, the future cooperation with terminal manufacturers such as NVC will undoubtedly greatly expand the sales scale of its packaging components for lighting, and become a stable seaport for the company.
Regarding why NVC lighting was chosen as the partner, Gong Weibin also expressed his own thoughts: "LED terminal lighting has high requirements for brand channel construction. Traditional lighting companies have been very successful in brand channel layout, and this piece has always been LED enterprise. Short board. Ruifeng Optoelectronics has a professional front-end technology, and NVC has a very mature layout in the terminal channel. Our cooperation is based on the complementarity of resources and advantages of both parties, thus strengthening the market expansion of both parties in the LED field."
Zhang Hongbiao, research director of Gaogong LED Research Institute, pointed out that NVC Lighting, as a traditional lighting company, still lacks a stable and mature LED lighting solution provider in the LED field. "This way of working with NVC requires a professional counterpart. Just because Ruifeng Optoelectronics is focused on packaging, NVC will choose us. For other packaging companies, they have their own downstream lighting application business. There is no doubt that there will be market competition with NVC. Therefore, this kind of cooperation is difficult for other companies to follow.†Gong Weibin said that when “red flower†is very good, not everyone can be a “red flowerâ€. We are going to be a "green leaf" for others, and it is also an invisible champion.
For most domestic packaging companies choose to rely on their own strength to cross the downstream lighting application market, Li Guoping, chairman of Hongli Optoelectronics, once said to Gaogong LED: “Packaging companies must develop downstream to become bigger and stronger.†The downstream customers of packaging companies generally have larger scales. Small, mostly enterprises with certain market channels, but they are generally small in scale and scattered in products, only for individualized market segments. Therefore, due to the size of the customer, the packaging company wants to have a bottleneck.
In this case, packaging companies choose to enter the terminal lighting market themselves, but in order to have a place in the lighting market, the core is the brand and channel building capabilities. The rules of the game for packaging and lighting are different, the package is sold for the manufacturer, and the lighting is for the end consumer. There are many customers for lighting, such as shopping malls, hotels, home stores and grocery stores. The sales channels are quite complicated. Packaging companies that want to succeed in the terminal need a long process of building channels.
This time, Ruifeng Optoelectronics has a joint venture curve layout downstream. Whether it can break through many domestic packaging companies in the future is still a question mark.
"In the field of lighting, we will combine with mainstream lighting manufacturers. It may be equity or product. Our cooperation will definitely not be simple. I will supply you with a product. We will carefully arrange one or two. Strategic partner.†This is a passage mentioned by Gong Weibin, chairman of Ruifeng Optoelectronics, in an interview with Gao Gong LED reporter in early 2011.
Compared with other packaging companies to expand their downstream investment and build factories, Ruifeng Optoelectronics, which has been focusing on packaging, has chosen to extend its reach to the downstream by joint venture, which seems to be more in line with Gong Weibin's strategic vision.
In 2011, Ruifeng Optoelectronics also failed to escape the impact of the industry downturn on the main business.
According to the previously announced annual results forecast for 2011, the company expects that the net profit attributable to shareholders of listed companies from January 1, 2011 to December 31, 2011 will be profit of RMB 28,955,500 - 37,734,100. The year-on-year decline was 15%-35%.
The reason is due to the huge changes in the overall domestic market in 2011. The hot market in 2010 did not continue into 2011. The growth of the terminal application market was far less than expected due to the international financial situation, resulting in an imbalance between supply and demand in the upstream and downstream of the industry chain. In addition, the domestic packaging market is highly competitive, and the gross profit margin of product sales continues to decline. According to the statistics of the High-tech LED Industry Research Institute, the average price of domestic packaged devices fell by 23% in 2011.
Regarding why he chose to launch the downstream lighting market at this time, Gong Weibin expressed his confidence in the LED lighting market in 2012: "This year, the market will be better than 2011, and each LED company will spend three or four months. To digest the inventory, the cleaned up is cleared. Normally, 2012 will be the process of replenishing LED companies. In addition, the current unit price of LED lighting products has dropped by a large margin, and the amount of lighting products will follow. Doubled growth. The growth of this market is not 200% growth, but 400% growth."
According to the reporter, the current LED lighting market is still in a stage where prices are falling rapidly and the number has not increased significantly. From January to September 2011, the company's comprehensive gross profit margin was 29.63%, a decrease of 0.415 percentage points year-on-year. The main reason for the decline in gross profit margin was the decrease in the price of LED lighting products of the company during the reporting period. For Ruifeng Optoelectronics, the future cooperation with terminal manufacturers such as NVC will undoubtedly greatly expand the sales scale of its packaging components for lighting, and become a stable seaport for the company.
Regarding why NVC lighting was chosen as the partner, Gong Weibin also expressed his own thoughts: "LED terminal lighting has high requirements for brand channel construction. Traditional lighting companies have been very successful in brand channel layout, and this piece has always been LED enterprise. Short board. Ruifeng Optoelectronics has a professional front-end technology, and NVC has a very mature layout in the terminal channel. Our cooperation is based on the complementarity of resources and advantages of both parties, thus strengthening the market expansion of both parties in the LED field."
Zhang Hongbiao, research director of Gaogong LED Research Institute, pointed out that NVC Lighting, as a traditional lighting company, still lacks a stable and mature LED lighting solution provider in the LED field. "This way of working with NVC requires a professional counterpart. Just because Ruifeng Optoelectronics is focused on packaging, NVC will choose us. For other packaging companies, they have their own downstream lighting application business. There is no doubt that there will be market competition with NVC. Therefore, this kind of cooperation is difficult for other companies to follow.†Gong Weibin said that when “red flower†is very good, not everyone can be a “red flowerâ€. We are going to be a "green leaf" for others, and it is also an invisible champion.
For most domestic packaging companies choose to rely on their own strength to cross the downstream lighting application market, Li Guoping, chairman of Hongli Optoelectronics, once said to Gaogong LED: “Packaging companies must develop downstream to become bigger and stronger.†The downstream customers of packaging companies generally have larger scales. Small, mostly enterprises with certain market channels, but they are generally small in scale and scattered in products, only for individualized market segments. Therefore, due to the size of the customer, the packaging company wants to have a bottleneck.
In this case, packaging companies choose to enter the terminal lighting market themselves, but in order to have a place in the lighting market, the core is the brand and channel building capabilities. The rules of the game for packaging and lighting are different, the package is sold for the manufacturer, and the lighting is for the end consumer. There are many customers for lighting, such as shopping malls, hotels, home stores and grocery stores. The sales channels are quite complicated. Packaging companies that want to succeed in the terminal need a long process of building channels.
This time, Ruifeng Optoelectronics has a joint venture curve layout downstream. Whether it can break through many domestic packaging companies in the future is still a question mark.
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