Lighting development trend

Bright prospects for the lighting industry's profitability. Based on the big data in recent years, the overall development trend of the lighting and lighting technology industry is very good. Last year, the industry-wide profit growth was higher than the income growth level, and the lighting industry's overall profitability increased. However, the current development of the electric lighting source and lighting industry in the industry is not balanced. The industry believes that with the help of energy saving and environmental protection policies, the lighting source industry is expected to develop rapidly. The lighting source lags behind the overall level of the lighting industry. Statistics from the China Lighting Industry Development Committee and the Lighting Industry Alliance show that the lighting and lighting technology industry performed well last year. The industry’s sales revenue increased rapidly year-on-year, and the main business revenue reached 120.19 billion yuan. A year-on-year increase of 26.10%. At the same time, the total profit of the whole industry showed great volatility, with a cumulative increase of 27.45%. Among them, the profit in April increased by 65.45% year-on-year, reaching the peak of annual growth. In October, it reached the lowest point with -3.31%. At present, the development of the lighting technology industry is not balanced, and the total profit growth exceeds the income growth. This is mainly due to the simultaneous increase in product prices and costs in the lighting and lighting industry, resulting in a decrease in the overall cost compared with last year. This phenomenon is not obvious in the light source industry. The profit growth of major companies such as Foshan Lighting (000541), Zhejiang Sunshine (600261), and Snow Wright (002076) is still lower than the revenue growth. The impact of raw materials is not obvious. The main raw materials of lighting technology include crude oil, copper, tin, tungsten wire, molybdenum wire, etc. Although Foshan Lighting and Zhejiang Sunshine both expressed in their three quarterly reports last year that they were under pressure from high raw materials, especially recently The LME copper futures exceeded US$6,000 again, and the Shanghai copper also rose to about 57,000 yuan, but the industry generally believes that the fluctuation of raw material prices will have limited impact on the company's annual performance. Copper is mainly used in the manufacture of lamp holders, and it accounts for a relatively small proportion of the raw materials. The recent rebound in copper prices has little effect on companies in the industry. On the other hand, due to measures such as centralized procurement, the impact of raw material fluctuations has a certain degree of lag. Especially for Foshan Lighting, the company has a long industrial chain, better ability to digest costs, diversified product varieties, and resistance. The risk capacity is also strong, so it is not sensitive to raw material price fluctuations. Although the impact of rising prices of raw materials certainly exists, the performance of related companies for the full year last year was definitely better than that of the first three quarters. Zhejiang Sunshine's net profit is expected to increase by 20%, and Snow Wright has foreseen a 40% increase in net profit. Domestic market growth is expected to accelerate. According to the requirements of the 'Thirteenth Five-Year PlanAccording to calculations by industry insiders, according to the current retail price of lighting at around 100 yuan, replacing incandescent lamps with lighting can recover the cost through the saved electricity bills in 8 months. If the whole country is replaced by induction lighting lamps, the electricity saved in one year will be the electricity generated by the Three Gorges Power Station. However, the implementation of lighting in homes and private places is much more difficult than in the field of public lighting. For this reason, the Chinese government is formulating a lighting and lighting energy-saving financial subsidy policy. It is reported that the subsidy during the '13th Five-Year Plan' period is expected to be around 10 billion yuan. . The subsidy policy will clearly tilt towards domestic large and medium-sized electric lighting light source companies that meet national standards and have obtained energy-saving certification, and will also promote domestic consumption of lighting products. At the same time, the export of lighting and lighting technology still maintained rapid growth, with a cumulative year-on-year increase of 16.67% from January to November last year. Statistics show that there is a large gap in the average unit price of import and export of lighting and lighting technology. For example, the average import unit price of HID lamps in November last year was 77.2 yuan, and the average export unit price was only 25.89 yuan. At present, this price difference has a gradual narrowing trend, but due to the obvious advantages of my country's labor cost, even if it is adversely affected by the appreciation of the renminbi, it is difficult to change the situation of strong export demand in the short term.