Dongjing Electronics reported a loss of 153 million yuan sapphire substrate technology failed to meet market demand
[Text|High-tech LED reporter Zhao Hui] On the evening of March 18, LED sapphire substrate manufacturer Dongjing Electronics (002199.SZ) disclosed the 2014 annual report. According to the report, in 2014, the total revenue of Dongjing Electronics was 309 million yuan, a year-on-year increase of 26.65%; the net profit attributable to shareholders of listed companies was a loss of 153 million yuan. Compared with 2013, it decreased by 578.62%.
Among them, the revenue of Dongjing Electronic LED Sapphire series reached 64.204 million yuan in 2014, an increase of 610.05%. The data shows that the gross profit of sapphire products is 14.40%.
According to Dongjing Electronics, the company's LED sapphire industry has formed a complete industrial chain from crystal growth, crystal rods, cutting, grinding, polishing, PSS graphics to LED lighting.
When talking about the reasons for the loss, Dongjing Electronics said that due to the decline in the price of quartz crystal components and the fact that the wholly-owned subsidiary Dongjing Optoelectronics LED sapphire substrate cutting and polishing technology failed to meet market demand, the inventory depreciation reserve at the end of the period increased; Some sapphire construction projects are still under construction, with high fixed costs, resulting in a decline in operating profit and a decline in net profit attributable to shareholders of listed companies.
"At present, the company's LED sapphire substrate business is undergoing trial production and customer certification, and gradually realize the mass production process." Dong Jing Electronics Secretary Wu Zongze said that the company's sapphire crystal rod is basically used by itself, and the sapphire project is implemented by three subsidiaries. The graphical substrate (PSS) production project was implemented by the holding subsidiary Dongjing Bolant.
In the investigation of the reception agency earlier, Wu Zongze said that Dongjing Electronics invested 1.2 billion yuan to establish two wholly-owned subsidiaries of Zhejiang Dongjing Optoelectronics and Huangshanjing Optoelectronics Co., Ltd., and cooperated with South Korea to establish a holding subsidiary Dongjing Bolant. The three subsidiaries jointly implemented the LED project in phases and sub-projects. Among them, Zhejiang Dongjing Optoelectronics implements an annual output of 3 million pieces of sapphire substrate, Huangshanjing Optoelectronics implements an annual output of 2.75 million millimeters of sapphire crystal rods, and Dongjing Bolante implements an annual output of 600,000 PSS patterned substrates.
With the rapid increase in LED lighting demand, the expansion of the upstream epitaxial chip field has been promoted. Sapphire is the most important material for epitaxial wafers, and the demand is also strong. From the situation in 2014 alone, many companies have added sapphire business. Crystal Optoelectronics released a non-public offering plan in July, and plans to raise 122.145 million yuan for investment in filter assembly expansion projects, sapphire crystal growth and deep processing projects and supplementary liquidity. In August, Jingsheng Electromechanical Co., Ltd. plans to increase its investment in the holding subsidiary Jinghuan Electronics with the same proportion of super-raised funds of 80 million yuan to accelerate the investment progress and investment of the crystalline ring electronic sapphire project. In addition, some companies have expanded their production.
At present, although sapphire is firmly in the leading position of substrate materials, with the continuous development of the industry, the competition is becoming more and more fierce. The technology development based on sapphire substrate is slowed down, coupled with the problems of high cost and patent barriers, many experts and engineers. Start looking for a more cost-effective solution: different substrate materials. Among them, the silicon substrate has been highly hoped by the industry, and many large manufacturers are also eager to try. Although there has been little substantial progress in the past, since 2015, large companies including Jingdian and Samsung have started to work on the silicon substrate business. The industry expects that there will be some pressure on sapphire substrate manufacturers in the future.
Among them, the revenue of Dongjing Electronic LED Sapphire series reached 64.204 million yuan in 2014, an increase of 610.05%. The data shows that the gross profit of sapphire products is 14.40%.
According to Dongjing Electronics, the company's LED sapphire industry has formed a complete industrial chain from crystal growth, crystal rods, cutting, grinding, polishing, PSS graphics to LED lighting.
When talking about the reasons for the loss, Dongjing Electronics said that due to the decline in the price of quartz crystal components and the fact that the wholly-owned subsidiary Dongjing Optoelectronics LED sapphire substrate cutting and polishing technology failed to meet market demand, the inventory depreciation reserve at the end of the period increased; Some sapphire construction projects are still under construction, with high fixed costs, resulting in a decline in operating profit and a decline in net profit attributable to shareholders of listed companies.
"At present, the company's LED sapphire substrate business is undergoing trial production and customer certification, and gradually realize the mass production process." Dong Jing Electronics Secretary Wu Zongze said that the company's sapphire crystal rod is basically used by itself, and the sapphire project is implemented by three subsidiaries. The graphical substrate (PSS) production project was implemented by the holding subsidiary Dongjing Bolant.
In the investigation of the reception agency earlier, Wu Zongze said that Dongjing Electronics invested 1.2 billion yuan to establish two wholly-owned subsidiaries of Zhejiang Dongjing Optoelectronics and Huangshanjing Optoelectronics Co., Ltd., and cooperated with South Korea to establish a holding subsidiary Dongjing Bolant. The three subsidiaries jointly implemented the LED project in phases and sub-projects. Among them, Zhejiang Dongjing Optoelectronics implements an annual output of 3 million pieces of sapphire substrate, Huangshanjing Optoelectronics implements an annual output of 2.75 million millimeters of sapphire crystal rods, and Dongjing Bolante implements an annual output of 600,000 PSS patterned substrates.
With the rapid increase in LED lighting demand, the expansion of the upstream epitaxial chip field has been promoted. Sapphire is the most important material for epitaxial wafers, and the demand is also strong. From the situation in 2014 alone, many companies have added sapphire business. Crystal Optoelectronics released a non-public offering plan in July, and plans to raise 122.145 million yuan for investment in filter assembly expansion projects, sapphire crystal growth and deep processing projects and supplementary liquidity. In August, Jingsheng Electromechanical Co., Ltd. plans to increase its investment in the holding subsidiary Jinghuan Electronics with the same proportion of super-raised funds of 80 million yuan to accelerate the investment progress and investment of the crystalline ring electronic sapphire project. In addition, some companies have expanded their production.
At present, although sapphire is firmly in the leading position of substrate materials, with the continuous development of the industry, the competition is becoming more and more fierce. The technology development based on sapphire substrate is slowed down, coupled with the problems of high cost and patent barriers, many experts and engineers. Start looking for a more cost-effective solution: different substrate materials. Among them, the silicon substrate has been highly hoped by the industry, and many large manufacturers are also eager to try. Although there has been little substantial progress in the past, since 2015, large companies including Jingdian and Samsung have started to work on the silicon substrate business. The industry expects that there will be some pressure on sapphire substrate manufacturers in the future.
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