LED lighting turns into a merger and acquisition war

With more and more companies listed, LED companies accustomed to endogenous growth have begun to have strong extensional impulses in order to seek economies of scale. Since the beginning of this year, the LED industry's M&A boom has gradually developed in the depth direction. According to statistics from CSAResearch, from January to June 2014, China's LED lighting companies completed 11 M&A transactions with a total transaction amount of about 3.5 billion yuan, and the average fund size per case was about 300 million yuan. With the frequent occurrence of integration events, the industry is not busy at one time. It can be said that in the special period of the card position, LED companies are not on the road to mergers and acquisitions or others are acquired by others! According to CSAResearch, most of the recent transactions are aimed at obtaining a controlling stake. In addition to extending the industrial chain to achieve diversified development, the purpose of M&A is to increase the strength and scale up from the perspective of channels, brands and production capacity. With the deepening of the M&A event, LED lighting companies will gradually separate the levels and echelons, and their own M&A integration capabilities will be officially put on the agenda! Take turns to stage mergers and acquisitions in the first half of 2014, keyword acquisitions, mergers and acquisitions or mergers and acquisitions. The LED industry's mergers and acquisitions drama is intensifying, Tsinghua Tongfang's 700 million yuan acquisition of Zhen Mingli, Wei Wei's shares of 122 million yuan in mergers and acquisitions, Hongli Optoelectronics 180 million acquisition of Smect, Changfang Lighting 528 million holding Kang Mingsheng, Feile Audio 18.5 The 100 million yuan merger and acquisition of Shenan investment is undeniable, regardless of the industry in which the merger and reshuffle is conducted, no matter when. In the LED industry where small and medium-sized enterprises gather, M&A integration is undoubtedly the trend of the times. Many large companies expect to expand their strength through mergers and acquisitions, and stabilize their leading position. SMEs expect to be preserved by mergers and acquisitions. But who will merge and who will be acquired, will still touch the sensitive nerves of the people, after all, this may affect the future direction of the industry, especially those mergers and acquisitions between large enterprises. Just as everyone is lamenting that there have been a lot of recent industry events. At the end of June, the LED industry once again broke the news of heavy mergers and acquisitions. The wafers will be merged and merged. It can be said that the LED industry's M&A integration incident in the first half of this year has been smeared with great enthusiasm. With the merger and reorganization between the two leading chip manufacturers in Taiwan, the trend of strong mergers and acquisitions is becoming more and more obvious. Will the industry pattern change greatly because of the marriage between the big ones? An industry senior securities analyst said in an interview with reporters that in the era of traditional lighting, the market share of any company is relatively low, and the market share of a better company is only 1-2, but The era of LED lighting will change a lot. The electronic product attributes of LED lighting determine that enterprises must have advantages in procurement, manufacturing, and channels in order to become bigger and stronger. On the other hand, they also mean more and more practical barriers facing enterprises. The securities analyst said that the attributes of the electronics industry forced everyone to act, clear the barriers, and find the right object to complement their shortcomings. In this analyst's view, at present, the entire lighting industry has both manufacturing advantages and channel advantages. Only Opp and Foshan are the two companies, so everyone is looking for suitable companies to make up their shortcomings. Tang Guoqing, general manager of Samsung LED China, also said that the lighting industry has not yet appeared in the billion-dollar enterprise. With the emergence of LED lighting, there will be more than 10 billion yuan in the large circulation field, and the strong can do even stronger. This is just around the corner. Lighting will have certain similarities in the large circulation field and the home appliance industry, and there will definitely be an oligarchic pattern. Tang Guoqing said that only strong people can be stronger, and Chinese companies can have a place in the world. Indeed, this year, M&A integration events have mostly occurred between the strong and the strong. Only in this way can we become stronger and stronger while forming a strong complementary advantage. The above analysts said that this trend is already obvious in the upstream, and the two years will be more obvious in the downstream application. With the strengthening of cooperation between the strong and the strong, the living space left for SMEs will become smaller and smaller. The listed company is the main analysis of the M&A protagonist. The main companies in the first half of this year, such as Tsinghua Tongfang, Guangri, Foshan Lighting, Weiwei, Hongli Optoelectronics, Changfang Lighting, Zhongjing Electronics, Lehman Optoelectronics, Crystal Yuanguang, Feile Audio, Moso Power and other enterprises are listed companies.

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