LED lighting fierce price war struck

Industry insiders reminded that in the third quarter of this year, leading LED lighting companies launched a sharp price offensive, want to expand the market, squeeze out the living space for SMEs, from the current point of view it is the first to hurt itself.

One month is not allowed for public opinion for two years

On the last trading day before the National Day, it was difficult for the shareholders of QS. At the opening of the market yesterday, the company's share price plummeted and fell 9.03% at the end of the day to close at 10.77 yuan.

The company's stock price plunged on the face of a change in performance. The company issued a mid-term report on August 29. It also estimated that the range of net profit attributable to shareholders of listed companies from January to September ranged from RMB 101 to RMB 129 million, a change of 10%. % to 40%.

Unexpectedly, on September 28, the revised announcement of the company's performance forecast announced that the net profit attributable to shareholders of the listed company was estimated to be 82,298,600 yuan to 101 million yuan, an increase of -10% to 10% from 9,220.07 million yuan in the same period of last year.

This result really pit father

A Nanjing company shareholder told Golden Securities that it is difficult for everyone to accept changes in performance. After all, just a few days ago, the company was still creating a peaceful atmosphere.

On September 25, the company said that the LED lighting application industry is in a period of rapid demand release and a favorable market sentiment. After two years, channel sales of LED lighting products and e-commerce platform sales will increase in an all-round manner.

"The company has not been able to judge for one month. What is the market situation after two years?" said the aforementioned shareholders.

"Fake door" once caused a sensation

Qinshang Optoelectronics has landed on the small and medium-sized board since November 2011, and has repeatedly put on a shit. At the beginning of January this year, the company also issued a revised announcement of the performance forecast. It is estimated that the company’s profit in 2012 will change by -11.27% to 18.73% from the same period of last year. Prior to this, the company expected 2012 net profit to increase by 10% to 40% in the third quarterly report of 2012.

Although this change in performance was related to the company's accruals, the final 2012 annual report showed that the company’s net profit fell 15.56% for the year, and the forecast became empty again.

The company's “fake door” was even more sensational in the capital market. Earlier this year, related media had reportedly questioned Qinshang Optoelectronics' "suspected fictional sales" and "alleged fraudulent listing." On May 3, the company received the investigation notice from the Securities and Futures Commission. Due to alleged illegal disclosure of information, the China Securities Regulatory Commission decided to investigate the company.

Yesterday, the "Golden Securities" reporter called the company's securities department. A company official told the reporter of “Gold Securities” that “The business secretaries of the secretary secretaries have just left the securities industry and the relevant situation is not clear.”

The tragic price war leader fell first

What worries people in the market is that, behind the change in company performance, it is LED lighting leading companies that are “unfavorable” in the fierce price war.

Starting in the second half of this year, LED lighting companies represented by Philips, NVC, and Everlight have invariably lowered their prices. A July data showed that the price of LED bulbs of the first-line manufacturers Tsinghua Tongfang and NVC Lighting declined by 37.3% and 36% respectively from June, and the highest drop by some companies even reached 40%, triggering low-price competition in the industry.

Not only that, brand companies quickly expanded their sales channels. Take Qinshang Optoelectronics as an example, the company is advancing the “Hundred City Thousand Stores” program and plans to create 1,000 outlets including specialty stores throughout the next three years.

"Currently, the market baptism of leading companies has not achieved the expected results, but hurt themselves." "Golden Securities" reporter familiar with the Shanghai stock brokerage researcher said.

In the announcement, Qinshang Optoelectronics also bluntly stated that the reason for the performance correction was that the competition in the LED lighting market was intensifying, resulting in a decrease in product gross margin; in 2013, the laying of a global channel network led to an increase in costs; the company accelerated its expansion into the global market, resulting in promotion costs. increase.

The aforementioned researcher analyzed that due to the cost advantage, even if the leading companies raise the price, the SMEs still have some room for profit shrinkage. “At present, the price of LED light bulbs is twice the price range of energy-saving light bulbs, which is what the industry calls a “sweet spot.” Under such light source prices, people once considered that the market's new equipment and replacement demand are expected to increase rapidly. But in reality, consumers The acceptance and purchasing power are not high, which hinders the volume of LED products."

In the first half of this year, Foshan Lighting and Sunshine Lighting, both of which belong to the same industry, had a net profit increase of over 10%. Brokerage investors reminded investors to pay close attention to changes in the performance of these companies.