[Text / high-tech LED Zhao Hui] Different from other domestic LED chip manufacturers have stood at the forefront of capital early, and the listed spring wind has already had great advantages in terms of production capacity and market share. To a certain extent, Jucan Optoelectronics, which is on the way to IPO filing, is already a "little brother" who is late.

And the "late" Cancan Optoelectronics can stir the "core" market in the initial situation of the chip market, and everything is still unknown.

On November 13, 2015, the official website of the China Securities Regulatory Commission disclosed the "CEO Initial Public Offering Prospectus" of Jucan Optoelectronics, which also indicates that Jucan Optoelectronics officially embarked on the IPO road.

According to the data, in May 2011, Jucan Optoelectronics Technology (Suzhou) Co., Ltd., with a total investment of 750 million yuan, officially opened in the town of Suzhou Industrial Park, Suzhou.

According to Gaogong LED reporter, Jucan Optoelectronics Technology was established by Xingu Optoelectronics Co., Ltd. on April 8, 2010. The first phase of the company covers an area of ​​149 mu and has a registered capital of 250 million yuan. It mainly provides all kinds of white light blue chip, including 8*15, 10*18, 20*38, 40*40 and other product specifications, which are applied in commercial lighting. Industrial lighting, indoor lighting, notebook backlighting, TV backlighting and other fields. The second phase of the building covers an area of ​​about 74,000 square meters, mainly engaged in high-power semiconductor lighting (LED) extension and chip design industry. It is the first chip epitaxial factory in mainland China that is positioned to illuminate white light. At the same time, the R&D center was established, and 150LM/W was realized by independent technology. The innovative technology was quickly standardized into batch products, and the manufacturing technology of “2” to “4” epitaxial wafers was improved.

At that time, Jucan Optoelectronics once said that the company specializes in high-brightness white LED epitaxial chip products for lighting and backlighting, and hopes to win market and customer recognition with cost-effective products.

It is understood that Jucan Optoelectronics only had MOCVD6 in early 2012, and by the end of July 2015, the number of MOCVD machines of Jucan Optoelectronics has reached 42 sets, including 9 sets of 2 inches and 54 pieces, 2 inches. There are 32 sets of 69 machines and 1 set of 4 inch 31 pieces. The overall performance is relatively advanced equipment.

It is worth noting that at the end of the first quarter of 2015, the number of MOCVD machines of Jucan Optoelectronics was only 27, and the number of devices increased by 15 in just three or four months.

This shows that the pace of expansion of Jucan Optoelectronics has been further accelerated in 2015.

According to the "Prospectus", the main business income of Jucan Optoelectronics in 2013, 2014 and the first quarter of 2015 were 169 million yuan, 296 million yuan and 72 million yuan respectively, and the net profit was 115.417 million yuan and 57.045 million yuan respectively. 2,065,500 yuan.

Jucan Photovoltaic Annual Revenue List

Source: Jucan Optoelectronics "Prospectus"

Among them, chip revenue accounts for more than 80% of the revenue of Jucan Optoelectronics.

Jucan Optoelectronics Main Business Schedule

As can be seen from the data of the prospectus, in 2014, with the good opportunity of the rapid start of LED lighting at that time. Jucan Optoelectronics has experienced rapid growth in revenue and net profit. However, since the first quarter of 2015, Jucan Optoelectronics has entered the dilemma of low growth and low profit, just like other chip companies.

Since the rapid growth of LED lighting market demand in the second half of 2013, a large number of small and medium-sized chip companies that have been unable to sustain themselves have regained their vitality, and this good situation has only lasted for less than two years.

Beginning in 2015, the growth rate of LED lighting demand has slowed down markedly. The upstream chip factories have also begun to fall into the predicament of “increasing revenue and not increasing profits”, among which chip companies with revenue growth of less than 10% are more.

Taking the domestic chip leader Sanan Optoelectronics as an example, the financial report data shows that in the first three quarters of 2015, Sanan Optoelectronics' total revenue was 3.602 billion yuan, an increase of only 3.55% over the same period last year.

According to the statistics of the High-tech Research Institute LED Research Institute (GGII), the output value of China's LED upstream epitaxial chips reached 12 billion yuan in 2014, a year-on-year increase of 43%. In 2015, the output value of China's upstream epitaxial chips increased by only 8.3% year-on-year, with an output value of 13 billion yuan, and its growth rate slowed down noticeably.

At the same time, the concentration of LED epitaxial chip enterprises has further increased, and the revenue of the top five chip companies accounted for 65%. In other words, the chip makers including Sanan Optoelectronics, Tongfang, and Huacan Optoelectronics account for nearly 70% of the domestic market.

Obviously, the future scale will continue to dominate the chip market for a long time. In addition to investment promotion and cooperation, the technology upgrade of the chip factory will become an important weight to enhance the viability and competitiveness of enterprises, reduce costs and increase profits.

According to the incomplete statistics of high-tech LEDs, in 2015, chip manufacturers including Sanan Optoelectronics, Huacan Optoelectronics, and Dry Photoelectric Optics were all expanded in different degrees. The number of MOCVD machines increased by more than 100 units in the whole year.

At the time, Jucan Optoelectronics declared an IPO. It is undoubtedly also relying on the capital support brought by the listing to seek rapid expansion of the scale of production capacity, and strive to survive and grow and develop in the LED lighting reshuffle in the next few years.

It is not difficult to understand why Jucan Optoelectronics plans to raise more than 600 million yuan to invest in LED chip research and development production projects.

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