LED layout such as Snowball DHL Runda 5 years 30 billion gamble
[Source: Gaogong LED 's " LED Research Review" magazine January issue / Tang Guirong]
Shortly after entering NVC Lighting, DHL Runda (SZ.002005) once again high-profile signed a strategic cooperation agreement with AEG of Germany and Whirlpool (NYSE: WHR) to leverage the brands of two local companies. And channel sales of LED lighting products in Europe and North America.
As a result, Dehao Runda's brand and sales channel pattern in the three major lighting markets around the world has taken shape.
Previously, there was a media blunt statement that Wang Donglei, chairman of Dehao Runda, was gambling LED. In the Shenzhen press release on January 10, 2013, Wang Donglei responded by questioning: “I really gambled in the LED industry, first put into production LED chips, and then laid out lighting channels to become the world's largest LED lighting company.â€
This time, Wang Donglei continued to release his words on the LED strategic goal of Dehao Runda.
Wang Donglei said that first, in 2013, with the contribution of NVC Lighting, it will achieve 10 billion yuan. In 5 years, it will achieve 30 billion yuan. Secondly, the scale of LED chips will be the top three in the world. In 2013, the LED chip technology route will catch up with the level of Taiwan and South Korea, and reach the global leading level in 2014. Third, the light engine and application products are the top three in the world with cost advantages.
In order to complete this "grand" strategic goal, Wang Donglei gave himself three tasks: first, technological innovation; second, expand the scale, reduce costs; third, layout channels, build brands.
However, in the eyes of the industry, Dehao Runda's channel layout strategy, which is so fast and cost-free, is more pressured by its LED chip investment and capacity release. In November 2012, the media exposed the problem that Dehao Runda has invested heavily in LED chips in recent years.
Dehao Runda, who is at the tip of the wind, may be under pressure from public opinion, or perhaps forced by the situation, Wang Donglei once again stood up. This may be another "commitment" for Wang Donglei to investors, but with increasing bets, Dehao Runda has no retreat.
Forced to "scale fattening"
From the establishment of the Dalian, Wuhu epitaxial chip base in 2009, to the entry of NVC Lighting, Dehao Runda's investment in the LED industry has reached 4.3 billion yuan. Among them, the LED epitaxial chip project accounted for the largest share of the total investment amount of Dehao Runda. Since 2010, Dehao Runda has developed a MOCVD procurement plan, in which Wuhu Dehao Runda plans to purchase 100 MOCVD equipment and Yangzhou Dehao Runda plans to purchase 30 units.
In December 2011, Dehao Runda Dalian Base was officially put into operation, and its LED chip project completed a total of fixed assets investment of about 1.8 billion yuan.
However, DHL Runda's 2013 third quarter report did not bring good news to investors. According to the quarterly report, only 38 of the 80 MOCVD equipments of the company's two subsidiaries are in mass production, and another five are used for R&D. The operating rate is only slightly higher than 50%. According to the statistics of the High-tech LED Industry Research Institute (GLII), the average operating rate of domestic LEDs is less than 50% due to overcapacity.
Since then, on December 27, 2012, Dehao Runda announced again that the total investment of the company's LED epitaxial wafer production line project is 4.982 billion yuan, which requires a large amount of investment from the company's own funds. Approved by the 2nd Extraordinary General Meeting of Shareholders in 2012, the company applied to the China Securities Regulatory Commission for the issuance of corporate bonds of not more than 800 million yuan to repay the loans and supplement the working capital.
At the same time, Dehao Runda's three investment projects in chip, package and lighting, as of November 30, 2012, the capacity utilization rate was less than 20%, and the four projects did not reach the expected benefits.
In the face of media doubts, Wang Donglei is still obsessed with his own judgment on risk. "Most industries are big risks, big risks, and big ones are small risks." "We are determined to do our best to do the upstream." Wang Donglei is still full of confidence, we are hugely in the upstream chip project, at least the current capacity The scale is probably the top five in the world.
Obviously, Dehao Runda needs two divisions to digest production capacity. First, it sells low-priced LED chips to the market. First, it broadens the lighting channels and digests itself.
Wang Donglei has repeatedly stated in public that the company will use five years to build a production value of 30 billion yuan, of which LED lighting applications will achieve a sales target of 1 billion yuan in 2013. "In the short run, we have to explain to the stockholders, but in the long run, we would like to seek a long-term plan for the company." Wang Donglei said frankly that if it was only a small-scale investment, then the only thing he wants to do now is to withdraw. LED industry, otherwise there is no room for survival.
No turning back
In fact, the reason why Dehao Runda paid a high price to enter NVC lighting, or just to find a "step" for the chip. At present, in the domestic LED chip market, Dehao Runda not only needs to face strong competitors such as Sanan Optoelectronics and Jingyuan Optoelectronics, but the downstream customers--packaging enterprises have a "not cold" attitude towards their own chips, and also let Dehao Runda is in a very embarrassing situation.
In 2012, the competition in the domestic chip market is heating up.
Both Sanan Optoelectronics and Jingyuan Optoelectronics, which are located in the price-performance market, accelerated their horizontal expansion in 2012. In the mid- to high-end market, the market position of PHILIPSLUMILEDS, Nichia and Career is still unshakable.
Although, in terms of the number of MOCVD, Dehao Runda has certain advantages, but from the perspective of market acceptance, the two are not directly proportional. Among the ten lighting companies surveyed by reporters, everyone prefers to use Sanan Optoelectronics or Epistar's chips. “Everyone just knows that Dehao Runda has invested heavily in upstream chips, but it is not common in the market.â€
When the reporter visited the lighting city, he also learned that when the dealers push LED lighting products to customers, most of them still mention the brand chips of Jingyuan Optoelectronics. “Most of the dealers have never heard of this company.â€
Wang Donglei said in an interview with the media that in fact, Dehao Runda has to digest the huge LED chip production capacity, and the layout of LED lighting channels is its only choice. For the current channel layout strategy, Wang Donglei said, first, Dehao Runda does not have such a large financial strength to lay the channel; second, if the Dehao Runda has enough funds to lay the channel, the LED game is over.
“Dehao Runda has to occupy 7%-8% of the global LED lighting market share in order to digest 160 MOCVD production capacity.†Wang Donglei said that in the first three years, Dehao Runda is more like hunting in the LED lighting market, relying on government orders. There is a single order that does not form a complete marketing system. "In China, Europe, North America and other countries, we must seize a certain market share." Wang Donglei said that the layout of the road, the next step the company will consider the acquisition of LED lighting manufacturers to meet channel demand.
From the huge investment upstream, to the rapid channel layout, to the acquisition of application companies, just like snowballing, Dehao Runda's LED dreams are getting bigger and bigger, and there is no way to look back.
Shortly after entering NVC Lighting, DHL Runda (SZ.002005) once again high-profile signed a strategic cooperation agreement with AEG of Germany and Whirlpool (NYSE: WHR) to leverage the brands of two local companies. And channel sales of LED lighting products in Europe and North America.
As a result, Dehao Runda's brand and sales channel pattern in the three major lighting markets around the world has taken shape.
Previously, there was a media blunt statement that Wang Donglei, chairman of Dehao Runda, was gambling LED. In the Shenzhen press release on January 10, 2013, Wang Donglei responded by questioning: “I really gambled in the LED industry, first put into production LED chips, and then laid out lighting channels to become the world's largest LED lighting company.â€
This time, Wang Donglei continued to release his words on the LED strategic goal of Dehao Runda.
Wang Donglei said that first, in 2013, with the contribution of NVC Lighting, it will achieve 10 billion yuan. In 5 years, it will achieve 30 billion yuan. Secondly, the scale of LED chips will be the top three in the world. In 2013, the LED chip technology route will catch up with the level of Taiwan and South Korea, and reach the global leading level in 2014. Third, the light engine and application products are the top three in the world with cost advantages.
In order to complete this "grand" strategic goal, Wang Donglei gave himself three tasks: first, technological innovation; second, expand the scale, reduce costs; third, layout channels, build brands.
However, in the eyes of the industry, Dehao Runda's channel layout strategy, which is so fast and cost-free, is more pressured by its LED chip investment and capacity release. In November 2012, the media exposed the problem that Dehao Runda has invested heavily in LED chips in recent years.
Dehao Runda, who is at the tip of the wind, may be under pressure from public opinion, or perhaps forced by the situation, Wang Donglei once again stood up. This may be another "commitment" for Wang Donglei to investors, but with increasing bets, Dehao Runda has no retreat.
Forced to "scale fattening"
From the establishment of the Dalian, Wuhu epitaxial chip base in 2009, to the entry of NVC Lighting, Dehao Runda's investment in the LED industry has reached 4.3 billion yuan. Among them, the LED epitaxial chip project accounted for the largest share of the total investment amount of Dehao Runda. Since 2010, Dehao Runda has developed a MOCVD procurement plan, in which Wuhu Dehao Runda plans to purchase 100 MOCVD equipment and Yangzhou Dehao Runda plans to purchase 30 units.
In December 2011, Dehao Runda Dalian Base was officially put into operation, and its LED chip project completed a total of fixed assets investment of about 1.8 billion yuan.
However, DHL Runda's 2013 third quarter report did not bring good news to investors. According to the quarterly report, only 38 of the 80 MOCVD equipments of the company's two subsidiaries are in mass production, and another five are used for R&D. The operating rate is only slightly higher than 50%. According to the statistics of the High-tech LED Industry Research Institute (GLII), the average operating rate of domestic LEDs is less than 50% due to overcapacity.
Since then, on December 27, 2012, Dehao Runda announced again that the total investment of the company's LED epitaxial wafer production line project is 4.982 billion yuan, which requires a large amount of investment from the company's own funds. Approved by the 2nd Extraordinary General Meeting of Shareholders in 2012, the company applied to the China Securities Regulatory Commission for the issuance of corporate bonds of not more than 800 million yuan to repay the loans and supplement the working capital.
At the same time, Dehao Runda's three investment projects in chip, package and lighting, as of November 30, 2012, the capacity utilization rate was less than 20%, and the four projects did not reach the expected benefits.
In the face of media doubts, Wang Donglei is still obsessed with his own judgment on risk. "Most industries are big risks, big risks, and big ones are small risks." "We are determined to do our best to do the upstream." Wang Donglei is still full of confidence, we are hugely in the upstream chip project, at least the current capacity The scale is probably the top five in the world.
Obviously, Dehao Runda needs two divisions to digest production capacity. First, it sells low-priced LED chips to the market. First, it broadens the lighting channels and digests itself.
Wang Donglei has repeatedly stated in public that the company will use five years to build a production value of 30 billion yuan, of which LED lighting applications will achieve a sales target of 1 billion yuan in 2013. "In the short run, we have to explain to the stockholders, but in the long run, we would like to seek a long-term plan for the company." Wang Donglei said frankly that if it was only a small-scale investment, then the only thing he wants to do now is to withdraw. LED industry, otherwise there is no room for survival.
No turning back
In fact, the reason why Dehao Runda paid a high price to enter NVC lighting, or just to find a "step" for the chip. At present, in the domestic LED chip market, Dehao Runda not only needs to face strong competitors such as Sanan Optoelectronics and Jingyuan Optoelectronics, but the downstream customers--packaging enterprises have a "not cold" attitude towards their own chips, and also let Dehao Runda is in a very embarrassing situation.
In 2012, the competition in the domestic chip market is heating up.
Both Sanan Optoelectronics and Jingyuan Optoelectronics, which are located in the price-performance market, accelerated their horizontal expansion in 2012. In the mid- to high-end market, the market position of PHILIPSLUMILEDS, Nichia and Career is still unshakable.
Although, in terms of the number of MOCVD, Dehao Runda has certain advantages, but from the perspective of market acceptance, the two are not directly proportional. Among the ten lighting companies surveyed by reporters, everyone prefers to use Sanan Optoelectronics or Epistar's chips. “Everyone just knows that Dehao Runda has invested heavily in upstream chips, but it is not common in the market.â€
When the reporter visited the lighting city, he also learned that when the dealers push LED lighting products to customers, most of them still mention the brand chips of Jingyuan Optoelectronics. “Most of the dealers have never heard of this company.â€
Wang Donglei said in an interview with the media that in fact, Dehao Runda has to digest the huge LED chip production capacity, and the layout of LED lighting channels is its only choice. For the current channel layout strategy, Wang Donglei said, first, Dehao Runda does not have such a large financial strength to lay the channel; second, if the Dehao Runda has enough funds to lay the channel, the LED game is over.
“Dehao Runda has to occupy 7%-8% of the global LED lighting market share in order to digest 160 MOCVD production capacity.†Wang Donglei said that in the first three years, Dehao Runda is more like hunting in the LED lighting market, relying on government orders. There is a single order that does not form a complete marketing system. "In China, Europe, North America and other countries, we must seize a certain market share." Wang Donglei said that the layout of the road, the next step the company will consider the acquisition of LED lighting manufacturers to meet channel demand.
From the huge investment upstream, to the rapid channel layout, to the acquisition of application companies, just like snowballing, Dehao Runda's LED dreams are getting bigger and bigger, and there is no way to look back.
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