"Under the support of policy, 200W led Flood light lighting market will have bigger space in 2013, the listed companies is expected to benefit. From the valuation, 200W led Flood light lighting company the current PE is really high, but the location of the PEG is relatively reasonable." Sinolink securities analysts said Zhou Jianbing wealth management center.
Under the policy support, industry demand growth
Recently, the 200W led Flood light lighting industry seems to be for warmth. As the eu banned incandescent lamp, 200W led Flood light lighting applications into qualitative change phase, and under the support of policy, the domestic 200W led Flood light lighting is expected to accelerate penetration. Hardware development of 200W led Flood light lighting lamps and lanterns space is large demand is expected to grow
Hardware development of 200W led Flood light lighting lamps and lanterns space is large demand is expected to grow
In addition, the national development and reform commission, ministry of science and technology and so on six ministries jointly issued recently plan "semiconductor lighting energy saving industry, make clear further elaborated China's 200W led Flood light industry during the" twelfth five-year "development goals, main tasks and supporting measures, and to promote 200W led Flood light lighting energy saving output grew by an average of about 30%, in 2015 reached 450 billion yuan, including the application products 200W led Flood light industry reached 180 billion yuan. Figures show that China's 2012 200W led Flood light general lighting output close to 42 billion yuan, up 40%; Annual production 310 million, the number increased significantly; 200W led Flood light lighting products in the world's first manufacturing capability and exports. "Industry depends on the development prospects, the main point in the field of 200W led Flood light lighting is affected by policy support, will form the scale of the enterprise." Zhou Jianbing said. In fact, the global 200W led Flood light market from the gradual recovery in October last year, this year, demand has risen sharply in the first quarter, but especially in emerging market. At present, Russia, Thailand, Vietnam, India, Africa and other countries and regions in the field of infrastructure construction investment heat rising, in 2013, emerging markets demand for 200W led Flood light lighting will continue to heat up. In Vietnam, for example, in 2015 Vietnam will achieve 38% before the level of urbanization, the export of China's 200W led Flood light lighting will be a great opportunity. In addition, countries, including India, has spared no effort in promoting the traditional lighting system into 200W led Flood light lighting, it also is expected to import a large number of 200W led Flood light lighting products in China. "From the peripheral market, one is the world's economy began to recover gradually, especially the U.S. economic recovery is expected to enhance; 2 it is the current supply of energy, global energy requirements increase; 3 it is to is to speed up the pace of urbanization in our country, the future will further improve the energy consumption of product requirements. Therefore, whether from the current market performance or for the future development, the 200W led Flood light lighting industry has a broad space, market recovery probability is bigger." Cic consultant, senior research fellow in China said. Benefit from the global economic recovery, he thought, as well as the national energy conservation and emissions reduction requirements increase, 200W led Flood light lighting enterprise performance has improved recently. In addition, the commercial lighting lamps and lanterns in the second quarter is the traditional sales season, so 200W led Flood light lighting enterprise performance is expected to get better. Founder securities believes that the 200W led Flood light lighting application products is the most direct benefit from the policy driven links, and although the next few years in terms of energy-saving lamps from market accounted will still occupy the first big kinds of lamps and lanterns, the 200W led Flood light will be under the condition of cost and price continues to fall further narrow the cost of replacement price difference between with energy-saving lamps. In fact, in order to increase the intensity of energy-saving products in government procurement, the ministry of finance, national development and reform commission recently published the "energy saving" government purchasing list products have been adjusted, adjusted for purchasing list more 200W led Flood light lighting products for the first time. According to statistics, enter the shopping list of 200W led Flood light lighting products including 200W led Flood light road/tunnel lighting products, 200W led Flood light canister light, reflective self-rectifying light-emitting diodes (200W led floodlights), to be included in the product number, 177, 90, 251, respectively, involving 84, including nearly 20 listed companies. Go a long way to go, capacity leading manufacturers can focus on
200W led Flood light lighting field, even so, there is excess capacity problem, many analysts believe that 200W led Flood light industry structural overcapacity will continue in 2013, the company will also continue to digest inventory, by reducing prices to obtain market share. In fact, related to listed company's recent performance. In rectangular lighting, for example, the company is expected in the first quarter this year net profit of 10.35 million yuan to 12.6 million yuan, declines of 28.87% to 13.4%. Company said, at present in the expansion, cost investment is higher, so the sales cost is increased, the company profits. "Current of China's 200W led Flood light lighting industry overcapacity situation improved, but the problem is still serious. The lack of a unified industry standard industry barriers to entry is low, and high government subsidy, preferential taxation policy has attracted a lot of money into the 200W led Flood light lighting industry, there are even many companies do not have related technologies. The resulting low value-added production areas are heavily populated by small and medium-sized enterprises, low-end overcapacity situation is relatively serious, and is lack of competitiveness in terms of core technology." He said that in China. 200W led Flood light lighting enterprise in our country at present, he thought, is still faced with many problems, not only disorderly competition in the industry, at the same time the lack of core competitiveness and international giant intervention will be the impact of operating conditions. So, for investors, how to see the investment opportunities and valuation of 200W led Flood light lighting sector?
"Now that the market overall PE only 11, 12 times, and 200W led Flood light lighting sector overall valuations at about 30 times, assuming that the future growth rate of 35%, PEG is still below 1. Investors can choose the company with integrating ability as a target, we have tended to favor the industrial chain upstream and downstream integration ability of the company. In addition, this section of the risk on the one hand comes from the policy change, or from overcapacity on the other hand, if an oversupply situation doesn't change, or will affect the company's performance." Zhou Jianbing said. If there is a breakthrough technology, he thought, found a drop in the cost of 200W led Flood light lighting, so even bigger space. Now the question is still 200W led Flood light lighting product's price is too high, which affect the demand of the market. Founder securities believes that the 200W led Flood light industry will be gradually under the policy to promote recovery this year, from the analysis of the industrial chain each link in the upstream industry middle package price suppression and overcapacity downward transmission factors, overall there are still large competitive pressure. The brokerage thinks, industry upstream investment progress slow, the fundamentals have improved further digestion, leading manufacturers have scale advantage will be further in a good position in the market. And 200W led Flood light lighting applications directly benefit from the policy to promote demand, have the lamps and lanterns of brand and channel advantage manufacturers enjoy an advantage in the competition. Three Ann photoelectric 200W led Flood light lighting industry chain upstream and downstream of sun lighting is remarkable.