The hottest LED lighting overseas market is gradua

2022-09-21
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The overseas market of LED lighting is gradually opening up

SUN Qinghuan, chairman and general manager of Mu Linsen, said in an exclusive interview with China Securities News recently that with the further improvement of domestic industrial concentration and the opening of overseas led alternative markets, the global LED lighting penetration rate still has room to double. MuLinSen accelerated the construction of national production bases, involving LED components, LED light source modules and terminal lamp products. In the future, we hope to build the largest lighting group in the world by taking advantage of the layout of upstream, downstream and global sales channels

from 2011 to 2018, it is the golden seven years for the development of the LED industry, and the compound growth rate of Mu Linsen's operating income reached 45.69%. The company focuses on the R & D, production and sales of LED packaging and application series products. At the same time, it continues to extend the industrial chain, improve market share, and merge and acquire the downstream global lighting giant ledvance, becoming the largest listed company in the domestic green lighting field

benefit from LED capacity transfer

the data shows that after the listing of MuLinSen in February 2015, it has maintained an annual growth rate of more than 40%. From 2015 to 2017, the operating revenue was 3.882 billion yuan, 5.521 billion yuan and 8.169 billion yuan respectively. The performance express shows that Mu Linsen's revenue in 2018 reached 17.749 billion yuan, entering the 10 billion club. It is worth noting that the total direct and indirect financing of the company since its listing is less than 4billion yuan

at the end of November 2018, the company announced that it plans to publicly issue convertible corporate bonds with a total amount of no more than 2.66 billion yuan for the production project of Xiaolan high-performance LED packaging products, the production project of Xiaolan LED power supply, the automatic production project of Yiwu LED lighting application products and the repayment of interest bearing debts

sun Qinghuan told that after Mu Linsen was listed, he successively invested and built factories in Xinyu, Ji'an, Jiangxi, Yiwu, Zhejiang and Shaoxing. Zhongshan Xiaolan, as the company's headquarters and R & D headquarters, Ji'an builds a packaging base, Xinyu provides one-stop service supporting products, and Zhejiang base produces filament lamp products. After all these projects are put into operation, mulinson will become the largest LED manufacturer in the world

the manufacturing advantage of the whole industrial chain enables it to undertake more orders from domestic and foreign lighting giants. An LED industry analyst said that due to the encouragement of relevant policies to the green lighting industry and the decline in industrial profits, the global LED industry has shown a trend of capacity transfer to mainland China in recent years, and Ge, OSRAM, Samsung and other international LED giants have withdrawn from the lighting market; Philips and others gave up all manufacturing links and were manufactured by mainland Chinese enterprises. China has become the main undertaking platform for LED industry transfer. With the increase of domestic production capacity concentration and the thickening of technical barriers, excellent companies in the industry will enjoy the dividends brought by market scale growth and technological upgrading, and are expected to increase overseas and high-end market share

sun Qinghuan said that MuLinSen's unique process and technological innovation are the foundation for its expansion. Since its establishment, the company has insisted on R & D investment and improved the level of automated production. In terms of supporting components, the company's supports, molds, electroplating, plastics, etc. are ahead of their peers; The company has formed its own standardized production system, thus forming a unique cost control advantage and high bargaining power. Through the layout of the whole industrial chain, the scale effect of the company continues to appear. The lower price of upstream chips has further reduced the unit cost of products. The market competitiveness of the company has been continuously enhanced, and the market share has increased year by year

the industry concentration is relatively scattered, and the future development potential is still great. Sun Qinghuan pointed out that from the current market share of MuLinSen, although private brands have occupied a decisive position, it is only 20% of the domestic market share. In terms of overseas OEM orders, Mu Linsen only undertook about 10% of ledvance. There is a large market demand. In the manufacturing industry, we have been expanding investment and have a large demand for funds

form synergy

in the third quarter of 2018, the company completed major asset restructuring and acquired OSRAM general lighting spin off business - ledvance company, with an operating revenue of 12.35 billion yuan, successfully achieving the first 10 billion goal. As the first domestic LED manufacturer to annex international lighting brands, Mu Linsen will next face the problem of how to maximize the synergy of domestic and international channels

looking at the existing domestic well-known led brands, their main sales business is in the domestic market, and it is quite difficult to develop overseas markets, which requires long-term accumulation. The difficulty lies in how to convert the traditional light sources from overseas channels into LED light sources. According to sun Qinghuan, compared with the domestic LED replacement rate of 50%, the overseas led light source replacement rate is less than 20%, and the consumption level is higher, so the overseas lighting market space is larger

according to the data at the end of 2017, Philips, the world's largest seller, has an annual revenue of 7billion euros, and the second place, that is, the sales scale of ledvance, is less than 2billion euros. According to reports, ledvance has a strong network of agents and distributors, with sales agencies in more than 50 markets around the world, and its business covers more than 120 countries and regions around the world. With the global brand testing carburized layer depth or effective hardened layer depth relying on metallographic method and hardness method, the manufacturing advantage of mulinson will be further expanded. According to Mu Linsen's calculation, less than 10% of ledvance's lighting products are OEM by Mu Linsen. If the proportion is increased to 30%, it will bring a growth of 20% or 30% for the manufacturing department of the company, which is too backward in China

sun Qinghuan said that the company's overseas integration was gradually carried out, and the new CEO of ledvance was Lin Jiliang, the executive general manager of haramu Linsen. The new procurement center has been set up in Shenzhen, and the overall operation is steadily improving

according to the business income of MuLinSen in the third quarter of 2018, the lighting business has exceeded the traditional packaging business. Mu Linsen has become a trendsetter in the global lighting market from an enterprise good at packaging. In the future, brand will be used as a breakthrough to further open the downstream application market. The 46mm long

LED Research Institute of high industry and research pointed out that led lighting products have gradually replaced traditional lighting products and become the main force of lighting outside the sampling quantity of household, commercial, industrial and household. Due to the rapid improvement of the cost performance of LED lighting products, the penetration rate has increased year by year. In 2017, the global LED lighting penetration rate reached about 40%. With the maturity of LED lighting technology, the global LED lighting penetration still has room to double

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