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Three Photoelectric Photoelectric PK Wafer Ann Who Is An Elder Brother Of The LED Chip

- Jul 11, 2017 -

Three photoelectric photoelectric PK wafer Ann who is an elder brother of the LED chip


As "one" of mainland China LED industry, three photoelectric Ann has been plagued by the industry for its talk endlessly, primarily think its too much to receive government subsidies, rely on the government funds and blind expansion of production capacity, causing overcapacity, affects the whole industry chain of the ecological environment. Even some, three Ann is ex1, give me so many government subsidies, I can do better.


Might as well get three Ann photoelectric photoelectric, compare the wafer three PK wafer, look at the three Ann is for nothing? If abandon on-often sound, remove "jealous", "three its" counsel can let you stop?


Profit PK


Three: from the three Ann calendar year report of 2010-2015 years, three Ann to receive government subsidies increase year by year, but net income also increased year by year, the government subsidy accounted for the proportion of net profit declined, nearly three years remained at 35%. That suggests three Ann under the support of the government for many years has gradually mature, has been a steady rise in profitability.

However, three numerical debate on annual government subsidies, three Ann actually received government funding is greater than the value, because: first, the annual report referred to in the government grant does not include closely related with the company's normal business operations, in line with national policy, according to certain standard quota or quantitative continue to enjoy the government subsidy; Second, in the past two years, the government direct subsidies is gradually transformed into shares of state-owned assets.


In June 2015, national industrial fund buying three Ann group holdings of photoelectric 9.07% stake, becoming three photoelectric's second-largest shareholder, and the three photoelectric has implemented a capital increase or borrowing for many times.


Wafer: annual after-tax net loss of $3.018 billion nt $2015 (606 million yuan) fold exchange treaties, annual sales loss rate is as high as 13.76%, the average gross margin giant fell to 0.48%.

Background PK


3: as the mainland LED chip the absolute leader of the industry, three is a want to fail the country will not let its collapse of enterprises, to its subsidies are billions each year. Three Ann is China one of the few in the LED industry that can compete with foreign and Taiwan enterprises, three Ann, LED the upstream chip industry is completely controlled by foreign capital risk.


Government subsidies and administrative intervention, however, is not a healthy pattern, three Ann already have the ability to profit, so, the government direct subsidies is gradually transformed into shares of state-owned assets.


At present, the equity structure of three Ann, Ann electronics for the first shareholder, three Ann group for the third shareholders, a combined 36.58% stake; National industrial fund with a 11.3% stake in second shareholders; Other big shareholders is also includes the gold, huijin, the social security fund, state-owned financial institutions, such as total 10.7% stake, over state-owned assets accounted for 17%.


LED wafer: mainland enterprises preferential treatment by the government, Taiwan wafer often feel unfair. When bidding for philips Lumileds, wafer chairman Li Bingjie ever hope to get the Taiwan government support for many times, but did not get good response, finally led from the mainland Go scale, has discouraged wafer.

Although the final because of the U.S. government stopped Lumileds had broken, but for crystal electric, lack of powerful industrial policy support, the biggest weakness is the face of mainland rivals.


Wafer, however, have their own background. That year, oil chemical industry professional Li Bingjie chance to work in Taiwan institute into the field of photoelectric semiconductor, was established in 1996, the chance to again in the technical background of industrial institute of wafer photoelectric.


In April, Taiwan's deputy leader wu den-yih appeared in the 2016 Taiwan international lighting science and technology exhibition ", backed the LED industry in Taiwan. Earlier in March, Taiwan's incoming leader tsai ing-wen for mainland semiconductor supply chain "red" "national strategy", said Taiwan group to "national team" force against China, and plans to set up a "national" investment bank behind it. These information will undoubtedly bring wafer lot of confidence.


Would like to point out, however, there is no notion of "international strategy" in Taiwan. In addition, politicians are good at, and LED industry needs more work. Whether wafer or three Ann, if political color too much, I'm afraid will be burdened by them.



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