In 2017, the LED packaging industry experienced remarkable growth. According to data from the High-tech LED Research Institute (GGII), China's LED packaging output reached 87 billion yuan, representing an 18% year-on-year increase. The industry is expected to maintain a growth rate of 13%-15% between 2018 and 2020, with projections showing output reaching 128.8 billion yuan by 2020.
The growth in 2017 was driven by three key factors: first, the increasing penetration of LED lighting, which continues to expand rapidly; second, the global shift of the packaging industry towards mainland China, as foreign orders are increasingly being handed over to Chinese companies, opening up vast international markets for domestic firms; third, falling costs and expanding application scenarios, such as smart lighting, automotive lighting, small-pitch LEDs, UVLEDs, and IRLEDs, which are gaining more traction in the market.
Currently, the LED packaging industry is still in its early stages, with market concentration among leading enterprises. Among them, Guoxing Optoelectronics stood out in 2017, achieving significant success across multiple fronts.
**First, Strong Financial Performance**
In the first three quarters of 2017, Guoxing Optoelectronics (002449) achieved operating income of 2.582 billion yuan, a year-on-year increase of 54.10%, and net profit attributable to shareholders reached 258 million yuan, up 97.41%. These results highlight the company's strong performance and effective management.
**Comments:** With the recovery of the LED market, Guoxing Optoelectronics seized the opportunity to expand production capacity, significantly boosting sales performance.
**Second, Recognized Achievements**
Guoxing Optoelectronics made notable achievements in 2017:
- It entered the top 10 global LED packaging manufacturers in Q2 2017 (IHS Markit).
- Won the 2016 National Science and Technology Progress Award from the State Council of the People's Republic of China.
- Its all-black lamp beads REESTAR won the 2017 SMD RGB packaged device innovation product Golden Globe Award.
**Comments:** As new production equipment comes online and capacity expands, Guoxing Optoelectronics is well-positioned to maintain long-term competitiveness in the LED packaging field and continue growing in the future.
**Third, Technological Innovation**
Guoxing Optoelectronics has introduced several groundbreaking technologies:
- The D4545 flip-chip series achieved a light efficiency of 170 lm/W, setting a new standard in the domestic market.
- The world’s smallest outdoor small-pitch display device RS1415 entered trial production.
- The dimmable color COB passed LM-80 testing for 9,000 hours, with a predicted lifespan exceeding 54,000 hours.
- The VCSEL infrared 3535 iris/face recognition device offers 10 times faster response than traditional LEDs.
- The thinnest 0606 three-color and two-color indicator device, with a height of only 0.35mm.
- The 8520 side-entry backlight strip became the sole qualified supplier for LG high-end displays in China.
- The modular line slot lamp achieved a light efficiency of 120 lm/W with a color rendering index of R90.
**Comments:** By focusing on independent innovation and technological advancement, Guoxing Optoelectronics continues to push the boundaries of LED technology and aims to reach new heights in the industry.
**Fourth, Vertical Integration**
Guoxing Optoelectronics has expanded its operations along the supply chain:
- **Upstream:** Epitaxial wafer production increased by over 60% in 2017, supporting the company’s packaging business.
- **Midstream:** Packaging capacity expanded rapidly, with cumulative investments in packaging projects reaching 1.45 billion yuan since 2016, and monthly SMD LED production reaching 8 billion units.
- **Downstream:** Production scale of Guoxing Lighting was further expanded, with the addition of automated lines, resulting in a monthly panel light output of over 250,000 units.
**Comments:** By integrating upstream, midstream, and downstream operations, Guoxing Optoelectronics has built a vertically integrated model that enhances efficiency and strengthens its competitive edge.
**Fifth, Expansion Projects**
In 2017, Guoxing Optoelectronics launched several expansion initiatives:
- In March, it planned to invest up to 200 million yuan in a display device project, with construction completed by July.
- In April, it purchased production equipment to support the expansion.
- In July, it invested 44.496 million yuan in additional equipment to meet demand and expand product scale.
**Comments:** With rising demand for LED products and expanding applications, Guoxing Optoelectronics continues to grow through strategic expansions, alleviating production bottlenecks and increasing market share.
**Sixth, Notable Success Cases**
Guoxing Optoelectronics showcased its capabilities through various high-profile projects:
- Provided core devices for a massive 642.25 m² display at Moscow International Airport.
- Supplied RS3535 LED devices for high-definition stadium screens used in the 2017 Super League.
- Powered the main display at the Boao Forum for Asia using 1515 small-pitch full-color devices.
- Supported the maiden flight of the C919 aircraft with 1921 LED devices.
- Installed lighting systems in Shijiazhuang subway stations.
- Provided 1010 and 1921 devices for military parade displays, including outdoor P4 screens for viewing platforms.
- Supplied 1515 core devices for the BRICS Summit main screen.
**Comments:** Guoxing Optoelectronics has earned a strong reputation both domestically and internationally, delivering exceptional visual experiences and showcasing the power of Chinese innovation.
**Seventh, Global Expansion**
Guoxing Optoelectronics has made significant progress in international markets:
- Its US and German subsidiaries operated smoothly, with overseas sales increasing by over 60% year-on-year.
- Collaborations with RaySent on silicon-based LED projects are progressing well.
- The REESTAR brand has established itself as a leader in the global high-end LED display market.
- Guoxing Baiguang became a major supplier for Philips, and its backlit light strips were recognized as an "Excellent Supplier of TPV Group."
**Comments:** As Chinese LED companies expand globally, Guoxing Optoelectronics continues to gain traction, demonstrating superior quality and customer service that sets it apart in international markets.
Overall, Guoxing Optoelectronics has demonstrated strong performance, technological leadership, and global ambition, positioning itself as a key player in the LED packaging industry.
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