[Text / high-tech LED reporter Zhao Hui] Increasingly fierce price wars have caused Chinese mainland LED lighting companies to squander their hopes of profiting from the industry's warming. In addition to bulbs, the price of fluorescent tubes, another major source product, is also undergoing a period of rapid change. Although the price of LED indoor lighting products has gradually approached 2 times that of traditional energy-saving lamps, due to the problems of quality, standards and market acceptance, the real volume of the market has not yet arrived.
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Since the beginning of 2013, with the rapid growth of LED lighting demand, the entire industrial chain has achieved a good horsepower, and the sales situation of the enterprise is very good. However, the grotesque phenomenon of “increasing income without increasing profits†has intensified. The rapid decline in prices has left LED companies unable to share market dividends, and they have fallen into the embarrassing situation of increasing prices and falling prices.
On September 28th, Qinshang Optoelectronics (002638.SZ) released a notice for the revision of the forecast. It is estimated that the net profit attributable to shareholders of listed companies in the first three quarters of 2013 increased by -10% to 10%, compared with that of August 29 On the day, the company had expected this number to be 10% to 40%.
“The reason for the performance correction is that the competition in the LED lighting market has intensified, resulting in a decline in the gross profit margin of the products.†Qinshang Optoelectronics said that the company has vigorously laid the global channel network in 2013, resulting in increased costs; the company accelerated the expansion of the global market, leading to promotion The cost has increased.
"Since this year, both traditional lighting companies and LED lighting companies have increased channel sales, new product development and brand promotion, and the rapid decline in product prices is hard to believe." A brand agent told "High-tech LED" Reporters, since the third quarter, the price war has been particularly intense.
According to statistics from the High-tech LED Industry Research Institute (GLII), in the first half of 2013, the average ex-factory price of the mid-range 5W LED bulbs has dropped to between 22-24 yuan. The decline in prices has become a trend, and high-end products are no exception.
The lowest price in the domestic market, Zhongshan enterprises have reported an ex-factory price of 1 yuan / W, using plastic heat dissipation, using resistance and pressure reduction, no quality assurance, the product's wattage is mainly below 3W. Generally low-end price, 3W large-scale ex-factory price is about 5 yuan. The factory price of the mid-end bulb 3W is between 10-12 yuan.
Table of Average Price Changes of China LED Bulbs in the First Half of 2013 (Unit: Yuan/only) power First half of 2012 the first half of 2013 Year-on-year growth 3w 14.0 11.9 -15.3% 5w 25.5 17.8 -30.1% 7w 32.5 25.5 -21.5%
According to GLII survey data, the decline in the price of LED fluorescent tubes in the Chinese market in the first quarter of 2013 fluctuated greatly, with an average decline of around 9%-14%. Among them, the high-end LED fluorescent tube has the largest decline, with the highest drop of 13.4%. Take the LED fluorescent tube produced by 2835 light source as an example, the average drop is over 11%, and the drop in high-end products is 13%.
In the second quarter, the average price of LED lamps T8 (1.2m, 16w) decreased by 15.2% from the previous quarter.
2012 Q4-2013 Q2 China LED lamp quarterly average price change table (unit: yuan / article) product type price 2012Q4 2013Q1 2013Q2 T8 (1.2m, 16w) 75 66 56 Ring increase or decrease -13.3% -15.2%
In the past few years, LED lighting manufacturers have invested huge amounts of human, financial, and material resources in terms of production capacity, channels, and brands. In addition to the fierce price war, the embarrassing situation of enterprises that can't make ends meet is naturally expected.
Only in the end who can hold it, it takes time to test the throne of the "leftover is king".
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Market data to good price wars makes LED lighting companies difficult to enjoy dividends
Source: Gaogong LED Industry Research Institute (GLII)
Source: Gaogong LED Industry Research Institute (GLII)