In the past few years, due to the breakthrough of LED technology, the mainstream products in the global lighting market have gradually shifted from energy-saving technology products to LED technology products. It is estimated that its global market size will reach 846.6 billion yuan in 2016, with the increase of LED penetration rate. The LED market has become the main force in the future lighting market.
In its 2016 financial report, Feile Audio expects that the CAGR of LED products will reach 15% in 2016-2020. This growth is also reflected in the explosive expansion of LED product capacity in the past few years.
During the reporting period, Feile Audio achieved a total operating income of 7.178 billion yuan, a year-on-year increase of 41.53%, and a net profit of 351 million yuan, a decrease of 6.66% over the same period last year.
Among them, Feiyue Audio Subsidiary Shanghai Yaming Lighting Co., Ltd. achieved a total operating income of 1.061 billion yuan, a decrease of 32.08% compared with the same period of last year, and a net profit of 61.19 million yuan, an increase of 28.90%; Beijing Shenan Investment Group Co., Ltd. realized total operating income. 2.872 billion yuan, a decrease of 2.52% compared with the same period of last year, net profit of 249 million yuan, down 2.88%; Shanghai Feile Investment Co., Ltd. achieved a total operating income of 2.944 billion yuan and a net profit of -115 million yuan. Shanghai Shengyi Industrial Co., Ltd. realized a total operating income of 630 million yuan from January to October 2016 and a net profit of 57.95 million yuan from January to October.
In addition, Huaxin Securities Co., Ltd., which is 24% owned by Feile Audio, achieved a net profit of 271 million yuan in 2016, contributing investment income of 64.95 million yuan to the company, down 46.45% from the same period of last year.
As we all know, the lighting application industry is in the downstream of the whole industry. Because it is directly close to the end customers, it presents a comprehensive competition for technology, cost, products, brands and services.
In terms of scale, the domestic application lighting market occupies an important position in the global market, but compared with the developed countries in Europe and America, there is a characteristic that the industrial concentration is not high and the market is too scattered.
Feile Audio said that in the future, LED products will continue to penetrate into the segmentation field and increase the concentration of the industry. The segmentation areas of the lighting application industry, such as lighting control and commercial lighting, still have a large market space.
Nowadays, the economic downturn and the slowdown of traditional infrastructure investment have brought pressure and bottlenecks to the growth of traditional lighting engineering companies. Secondly, although the LED market has experienced rapid growth, the expansion of production capacity is more radical. This has also caused overcapacity in the market and industry reshuffle since 2015. After this reshuffle, many small LED manufacturers have been eliminated by the market. The current LED industry chain companies are seeking their own differentiated competitive advantages.
In order to cope with the challenges of the market, In addition to continuing to deepen the existing market and maintain its position in the industry, Feile Audio will also focus on the future high-growth market--smart city.
The construction of smart cities has been accelerating in recent years. In 2017, a huge market of more than 500 billion yuan will be created. The construction of smart cities in China has entered a new stage of development. The macro environment is good, and the growth period of the market has arrived. Audio brings unprecedented opportunities for development.
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