LED Research Weekly - 2015 China LED Lighting Export Review

Key Analysis

In the fourth week of 2016, key stocks in the LED industry fell sharply. The industry index fell by 7.3%, and 19 of the 22 key stocks in the industry fell, with an average drop of 10%.

According to the statistics of the High-tech Research Institute LED Research Institute (GGII), from January to November 2015, China's LED lighting products exported 9.281 billion US dollars, up 12% year-on-year, and the growth rate was slower than last year's 75.6%.

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Market review

This week's high-tech LED industry index this week, the high-tech LED industry index closed at 1286.2 points, down 7.3%, the Shanghai and Shenzhen 300 index closed at 2946.1 points, down 5.4%, the high-tech LED industry index performance is weaker than the broader market.

This week, 22 LED stocks fell by 19%, with an average decline of 10%. Except for the suspension of Huacan Optoelectronics (300323) and Lehman Optoelectronics (300162) and the slight increase of Sanan Optoelectronics (254902), the remaining 19 stocks all fell, among which 12 stocks fell more than 10%, Wanrun Technology ( 002654) After the resumption of the two days, the decline was 19%, the biggest drop.

2015 China LED Lighting Export Review

According to customs data, from January to November 2015, China's LED lighting products exported 9.281 billion US dollars, a year-on-year increase of 12%, and the growth rate was slower than last year's 75.6%. Compared with last year, the export market in 2015 has the following characteristics:

1. The growth rate of indoor lighting products has slowed down, especially the growth rate of light source products is particularly slow;

2. The export of outdoor lighting and special-purpose lighting products continued to grow rapidly;

3. The growth rate of exports to the US market is over 45%, and the demand for LEDs in the US market is exploding;

4. The export volume of emerging markets such as Brazil, South Korea and Vietnam has grown rapidly, and the annual export growth rate has exceeded 100%;

5. The number of export enterprises decreased by 12.5%, and the number of total export enterprises including trade enterprises decreased to about 10,000;

6. The proportion of export value of trade-oriented enterprises decreased significantly, and the leading enterprises in export were all entities.

Main export products

From January to November 2015, the top ten products of China's LED lighting products were: bulbs, lamps, panel lights, spotlights, lights, downlights, floodlights, street lights, stage lights and garden lights. The total exports of the top ten products totaled 3.85 billion US dollars, an increase of 14.1% year-on-year, accounting for 83.6% of the export value of identifiable products.

From the perspective of export growth rate, except for the light strips and street lamps, the growth rate of export volume of other products has declined. Among them, the export volume of spotlights and stage lights has been negatively increased. Lamps, panel lights, strips, and light. The export of lamps and street lamps has been relatively good. From January to November 2015, China's LED street lamp exports reached US$180 million, a year-on-year increase of 74.1%, which is the largest increase in the top ten exports.

Chart 1: Exports of China's LED lighting products from January to November, 2014-2015 (Unit: US$100 million, %)

Export destination country

From January to November 2015, the export value of LED lighting products exported to the top 20 destination countries was 6.379 billion US dollars, up 12.8% year-on-year, accounting for 68.7% of the total export volume, a slight decline from last year. The export value of the 15 destination countries in the top 20 countries of export increased year-on-year, among which 3 countries with exports increased by more than 100% were Brazil, South Korea and Vietnam.

From January to November 2015, the top five exporting countries were the United States, Germany, Japan, the United Kingdom and Brazil. Compared with last year, Russia fell from the second place in 2014 to 12, and the export volume fell by 76%. From the distribution of the market destinations of the top five export destinations, exports to the US market accounted for 23%, an increase of 5.4 percentage points over 2014; exports to the UK market accounted for 3.5%, an increase of 0.3 percentage points over 2014; exports to the Brazilian market The share was 3.1%, an increase of 1.8 percentage points over 2014; both Germany and Japan accounted for a decline in exports.

Figure 2: Comparison of the distribution of the top five markets for China's LED lighting exports from January to November in 2014-2015 (unit: %)

Export leader

From January to November 2015, the export value of the top ten enterprises in LED lighting products was 1.363 billion US dollars, up 4.6% year-on-year, accounting for 14.7% of total exports. Specifically, the export value of only 6 companies in the top ten enterprises increased, and there were 4 enterprises with an increase of more than 100%, namely Xiamen Sunshine Enner Lighting Co., Ltd., Xiamen Tongshida Lighting Co., Ltd., and Qantas Communication Equipment (Dongguan). ) Ltd. and Philips Lighting (Chengdu) Co., Ltd.

Figure 3: Exports of the top ten enterprises in China's LED lighting exports from January to November 2015 (unit: US$ 10,000)

Remarks: The above data comes from customs code 94054090 and does not represent the entire operation of the company!


Analyst:

Name: Li Shengfa

Email: sf.

phone

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