According to reports, the mainland government will require local governments to stop providing subsidies or tax incentives to LED-related wafer and chip manufacturers. I do not know whether it is affected by this news, LED upstream chip makers Sanan Optoelectronics, Huacan Optoelectronics shares fell 0.7 and 1.4 respectively. So far, Sanan Optoelectronics has not received official documents, but the tightening of subsidies in the LED industry in the future is a general trend. Wang Qingru, the director of Sanan Optoelectronics, said. Wu Yulin, president of the Foshan Lighting and Lighting Industry Association, also believes that the current import volume of domestic chip production equipment is too large. In fact, due to the support of local governments, the industry is expanding too fast. Data show that in the past 6-7 years, China invested 10 billion yuan in imported MOCVD equipment for LED chip production, of which 70% were subsidized by local governments. There is no impact on Dehao Runda. According to the introduction, the company completed the layout and investment of the production capacity before 2012. After that, the funds were transferred to the downstream channels and brands of NVC Lighting. The upstream government subsidies are mainly targeted at Chip production equipment MOCVD. Dehao Runda said in its 2014 annual report that on February 11 this year, the company's second extraordinary shareholders meeting passed the proposal to terminate the use of raised funds to implement LED epitaxial chip projects, and suspended the purchase of MOCVD equipment. Sanan Optoelectronics and Huacan Optoelectronics continue to increase production capacity. In January of this year, Huacan Optoelectronics announced that it would start production of 15.4 billion chips with 305 million yuan. In April, Sanan Optoelectronics established a subsidiary in Xiamen with a total investment of 10 billion and 200 MOCVD. From the financial report, government subsidies account for a large proportion of these manufacturers' revenue. Sanan Optoelectronics' 2013 annual report shows that the company received a total of about 458 million yuan of government subsidies, accounting for 44.21% of the net profit of the year; Huacan Optoelectronics received a net loss of 8.26 million yuan after subsidies of 135 million yuan; Dehao Runda before this year The government subsidies included in the current profit and loss in the third quarter (except for government subsidies that are closely related to the business of the enterprise, in accordance with the national unified standards), reached 110 million yuan. Wang Qing believes that the cancellation of financial subsidies has a greater impact on newcomers in the LED industry, and Sanan Optoelectronics has achieved certain industry status. Even if it has an impact, it is positive. Dehao Runda also believes that after the withdrawal of the subsidy policy, the industry will return to normal after the recovery of the industry next year, and the price of chips will be lifted, which is beneficial to business operations.
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