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After shuffling LED lighting companies have performed well
In 2014, the number of LED companies reached more than 20,000, but it was reduced by 20% in just one year, and 4,000 companies withdrew from the market. In 2015, China was in a period of social transformation. The focus and difficulty increased, the boiling point and ignition point fell, and GDP growth fell below 7%, showing the lowest growth rate in 25 years. In such a large environment, the LED industry has experienced fierce competition such as overcapacity, price wars and product homogenization. The polarization in the industry is obvious: large enterprises have further expanded through mergers and acquisitions, while small and medium-sized enterprises have survived. In 2016, there was a slight sign of recovery in the LED industry, and many companies raised their prices. In March, packaging companies such as Mulinsen and Jingtai raised the price of some products. In May, the price of crystal power increased by 15% in the case of a 25% reduction in production. In August, the price of small and medium-sized products of Sanan Optoelectronics rose by 10%, and Huacan Optoelectronics also adjusted the price of products with lower profits by 5%. Mulinsen, Guoxing Optoelectronics and Xinda Optoelectronics raised the price of RGB lamp beads for display screens, with an increase of around 5%. For a time, the LED industry staged a price hike, which made people excited. Op Lighting announced its 2016 annual performance report. The company's total operating revenue in 2016 increased by 22.55% year-on-year; Foshan Lighting's 2016 revenue exceeded 3.3 billion, and net profit increased by more than 19 times. In terms of the LED industry cycle, after the deep integration of the industry in 2015 and 2016, the supply-side reform has been relatively full, and in 2017, LED will usher in a turning point. From the perspective of upstream supply of LEDs, the industry's capacity concentration has accelerated, and high industry barriers have been formed, and disordered capacity expansion has been curbed; mid-end packaging technology has been continuously innovated to reduce costs and improve efficiency; while the industry downstream is in vehicle, lighting, and small. Leading the gap between LED display and new applications such as the Internet of Things, the industry of the entire industry chain is expected to start a new round of growth. At the beginning of the 2017 New Year, with the further deepening of the supply-side reform, the supply and demand relationship of the post-tidal LED enterprises will be further improved, and the low-end backward production capacity will be further eliminated. Recently, LED companies have frequently received positive news. The OSRAM LEDvance sale case will be approved by the German government in 2017, Mulinsen plans to build a new LED lighting accessory component project, and Wanrun Technology will establish a wholly-owned subsidiary in the early stage of deep reshuffle, LED industry. The upstream (chip), midstream (package), and downstream (application) are poised for growth, and the New Year may usher in a new turning point in performance growth. Upstream: LED chip industry concentration increase higher barriers to curb production capacity expansion In 2015, LED industry chain mergers and acquisitions more than 40 cases, involving a large amount. Jinshajiang Venture Capital Group acquired Lumileds, a subsidiary of Royal Philips of the Netherlands, and acquired the acquisition of Puri, Liad, and the 1 billion acquisition of the United States. In 2016, the LED chip market was 13.9 billion yuan, up 9% year-on-year. In 2015, it was down 7% year-on-year. From the supply side, mainland companies have 13% YOY in 2016 and -2% in Taiwan, indicating that the country's productivity has increased rapidly. The localization rate was 66% in 2014, 73% in 2015, and 76% in 2016. The national production rate is always growing. In 2017, mainstream manufacturers will continue to expand production capacity, and the chip country's production rate will further increase in the future. The supply side reform of the LED industry chain has been relatively adequate. The top ten manufacturers in 2016 accounted for 77%, and the top three were Sanan (29%), Jingdian (13%) and Huacan (8%). Higher industry concentration can effectively curb capacity expansion, and enterprises have strong bargaining power and enhance professional production efficiency. At the beginning of the new year, the domestic LED chip leader Sanan Optoelectronics issued a price increase notice to the downstream, and raised the price of some products from January 10, 2017, with an increase of 8%. The price increase of Sanan Optoelectronics is partly due to cost reasons and on the other hand to market concentration. In the future, the concentration of LED chip industry is expected to continue to increase to form an oligopoly, which constitutes a strong and strong market. Four enterprises with full political power were replenished with more than 144 million New Year's coming. Four LED companies announced that they received government subsidies, and the government subsidies announced by the four companies totaled more than 140 million yuan. Among them, Yunnan Lanjing Technology Co., Ltd., a wholly-owned subsidiary of Huacan Optoelectronics Co., Ltd., has received a subsidy of 20 million yuan from the Hongta District Finance Bureau of Yuxi City; Shilan Micro Holdings Co., Ltd. Hangzhou Silan Integrated Circuit Co., Ltd. Received 60 million yuan from the 8-inch integrated circuit chip production line equipment transferred by the Finance Bureau of Hangzhou Economic and Technological Development Zone. Since 2009, a number of LED companies have received government subsidies. As of January 22, 2017, Sanan Optoelectronics has received a total subsidy of 358.5 million yuan, Huacan Optoelectronics won 222.56 million yuan, and Dehao Runda won 14 , 201,460 yuan. In fact, after a round of reshuffle, the target of government subsidies has changed: at present, only those enterprises that can become the leading enterprises are subsidized, and the subsidy has been narrowed. Some small and medium-sized enterprises are less likely to receive subsidies, and the trend of survival of the fittest Prominent. 2017 LED chips are in short supply, and the leader is stable. From a global perspective, with the completion of inventory in 16 years, 17 years of Apple led the strong demand for smart phone stocking, coupled with emerging markets such as automotive electronics and industrial terminals, chip sales continue to heat up. With the strong promotion of the national will, the mainland semiconductor industry has developed rapidly and the global production capacity has shifted to the mainland. At present, China has formed a complete IC industry chain from design, manufacturing, packaging and testing to terminals. With the support of national industrial funds and capital market platforms, it has ushered in the best development opportunities. The market characteristics of the industry in short supply in 2017 are obvious. It is expected that the bargaining power of chip companies will increase in the future, and leading enterprises will stabilize their profits, which will help boost the market concentration of the chip industry.