In 2017, the LED packaging industry experienced remarkable growth. According to data from the High-tech LED Research Institute (GGII), the output value of China's LED packaging reached 87 billion yuan, representing an 18% year-on-year increase. GGII forecasts that the industry will maintain a growth rate of 13%-15% between 2018 and 2020, with the output value expected to reach 128.8 billion yuan by 2020.
The growth momentum in 2017 was driven by three main factors: first, the rapid expansion of the LED lighting market, which continues to grow at a fast pace; second, the ongoing shift of global packaging operations to mainland China, with more orders being transferred to Chinese manufacturers, opening up vast international markets for local companies; third, the decline in costs and the emergence of new application scenarios, such as smart lighting, automotive lighting, small-pitch LEDs, UVLEDs, and IRLEDs, which are gradually gaining traction.
Currently, the LED packaging industry is in its early stages, with the market dominated by leading enterprises. As one of the largest domestic LED packaging companies, Guoxing Optoelectronics enjoyed significant success in 2017.
**First, Strong Financial Performance**
In the first three quarters of 2017, Guoxing Optoelectronics (002449) reported operating revenue of 2.582 billion yuan, a year-on-year increase of 54.10%. The net profit attributable to shareholders of listed companies reached 258 million yuan, up 97.41% compared to the previous year.
*Comment: The recovery of the LED market in 2017 allowed Guoxing Optoelectronics to seize the opportunity, expand its production capacity, and significantly boost sales performance.*
**Second, Recognition and Achievements**
1. Guoxing Optoelectronics made it into the top 10 global LED packaging companies in Q2 2017 (IHS Markit).
2. It won the 2016 National Science and Technology Progress Award, approved and awarded by the State Council of the People’s Republic of China.
3. Its all-black lamp beads REESTAR received the 2017 SMD RGB packaged device innovation product Golden Globe Award.
*Comment: With continuous investment in new equipment and increased production capacity, Guoxing Optoelectronics is well-positioned to maintain long-term competitiveness in the LED packaging field and continue growing in the future.*
**Third, Technological Innovation**
1. The domestic first-class flip-chip D4545 series chip from National Star Semiconductor achieved a light efficiency of 170 lm/W.
2. The world's smallest outdoor small-pitch display device RS1415 entered trial production.
3. The dimmable color COB passed LM-80 testing for 9000 hours, with an estimated lifespan exceeding 54,000 hours.
4. The VCSEL infrared 3535 iris/face recognition device, with a response speed ten times faster than conventional LEDs.
5. The thinnest 0606 three-color and two-color indicator device, with a height of only 0.35mm.
6. The only qualified supplier of LG high-end displays in China, using the new side-entry backlight strip with 8520 devices.
7. The modular line slot lamp with integrated design, achieving a light efficiency of 120lm/W and a color rendering index of R90.
*Comment: Guoxing Optoelectronics has always focused on independent innovation and technological advancement. By pursuing a strategic layout of “high-tech, market-oriented, and large-scale production,†the company continues to achieve new heights in technology.*
**Fourth, Vertical Integration**
- **Upstream**: Epitaxial wafer production expanded by over 60% year-on-year, supporting the company’s packaging business.
- **Midstream**: Packaging capacity grew rapidly, with cumulative investments in packaging projects reaching 1.45 billion yuan since 2016, and monthly SMD LED production capacity reaching 8 billion units.
- **Downstream**: Guoxing Lighting expanded its production scale and added automated lines, with monthly panel light production exceeding 250,000 units.
*Comment: Guoxing Optoelectronics has built a vertically integrated model, covering upstream epitaxial chips, midstream packaging, and downstream LED applications.*
**Fifth, Expansion Projects**
In March 2017, Guoxing Optoelectronics planned to invest no more than 200 million yuan in expanding its display device project, which was completed by July 2017. In April and July 2017, the company purchased additional equipment worth 44.496 million yuan to meet the demand for packaged devices and expand its product range.
*Comment: With the growing popularity of LED products and expanding market applications, Guoxing Optoelectronics continues to see strong order demand. Through continuous expansion, the company can alleviate production capacity shortages and gain a competitive edge through scale advantages.*
**Sixth, Notable Projects**
- In Moscow, a core device provided by Guoxing illuminated a 642.25m² display, becoming a new landmark.
- RS3535 LED devices were used in high-definition stadium screens for the 2017 Super League.
- The Boao Forum for Asia used Guoxing’s 1515 small-pitch full-color devices.
- The C919 aircraft was lit by Guoxing’s 1921 LED devices.
- Shijiazhuang subway station lighting was built by Guoxing Lighting.
- During the military parade, Guoxing’s 1010 and 1921 devices were used for monitoring and outdoor displays.
- At the BRICS Summit, Guoxing’s 1515 core devices provided the main display screen.
*Comment: Guoxing Optoelectronics has earned a strong reputation both domestically and internationally, offering excellent visual experiences and showcasing the power of China’s intellectual creation.*
**Seventh, International Expansion**
- The US and German subsidiaries operated smoothly, with overseas sales increasing by over 60% year-on-year.
- Collaborations with RaySent in the U.S. on silicon-based LED projects are progressing well.
- The REESTAR brand is redefining high-end LED displays globally, with a monthly capacity of 2000kk.
- Guoxing Baiguang became a major supplier for Philips, and its backlit light strips won the "Excellent Supplier of TPV Group" award.
*Comment: As Chinese LED companies expand globally, Guoxing Optoelectronics is well-positioned to gain further market share, thanks to its high-quality products and professional service.*
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