The general lighting market has become a red sea to accelerate the elimination of "zombie enterprises" to promote the development of LED lighting industry
September 02 14:03:47, 2019
In the spring of March, the two annual meetings came as scheduled, 2,214 CPPCC members and 2,943 NPC deputies gathered in Beijing to discuss the development of the country and discuss the national affairs. At the scene of the two sessions, reporters frequently questioned the supply side reforms. This is the key discussion topic for the delegates this year. On March 5, Premier Li Keqiang pointed out in the government work report that efforts should be made to strengthen supply-side structural reforms, focus on capacity, inventory, leverage, reduce costs, supplement short-term boards, strengthen people's livelihood security, and effectively prevent and control risks. Efforts to achieve a good start for economic and social development during the 13th Five-Year Plan period. Under the new economic normal, the supply-side reform is changing from high-frequency words to the government and enterprises to clarify the specific reform roadmap. China's LED lighting industry has maintained a growth rate of more than 30% in the past 10 years. In 2015, the growth rate of the overall economic development fell below 20%. The entire industry has experienced a series of problems such as overcapacity, fierce price competition, low profits, homogenization of products, and lack of order in the market. The LED industry still faces enormous difficulties and challenges such as weak industrial innovation capability, structural overcapacity, and the need to improve the industrial development environment. The central government has taken the supply-side structural reform as the focus of economic work this year. In the five major reform tasks, the production capacity will be put in the first place, and local governments have also made capacity to work as the focus of 2016 work. In the background of the fiercely competitive LED lighting industry, the price war caused by overcapacity is intensifying. Only by adjusting its own development direction, facing the new normal of the economy and improving the efficiency and ability of the company to operate, can the industry develop positively. This time, the supply side reform has provided new opportunities and directions for the development of the LED lighting industry. Accelerating structural adjustment and transforming the development mode General lighting has become the most intense Red Sea in the lighting market. However, other areas of the LED industry have yet to be developed and improved. Smart lighting, visible light communication, LED plant lighting, automotive lighting and other sub-sectors are more fragmented; high-margin niche market technology needs to be broken, and the terminal market has yet to be opened. The LED industry should speed up the adjustment of industry and product structure, diversify and digest excess capacity; actively develop production capacity in line with market demand, from scale expansion to focus on quality and efficiency; resolutely for family-owned production units that only care about production and quality. Strike, thereby improving the overall development level of the industry. Adhere to encourage innovation and revitalize the new vitality of the industry. The current state calls for public innovation, entrepreneurship, and the importance of innovation is reflected in all aspects of the LED lighting industry. Channel innovation reduces intermediate links and directly opens up the channel between enterprises and consumers, which helps to alleviate overcapacity in the industry; product innovation helps enterprises to jump out of the trap of product homogeneity in the industry; innovation in enterprise management model can help enterprises Going out of the dilemma of rising operating costs; innovations in financing channels, such as the current online financial financing P2P platform, can enable companies to obtain more financing channels. Adhere to encourage innovation, encourage research and development, and apply new technologies, which will help to renew the new vitality of the LED industry. Improve the industry system and strengthen the management of the industry. Due to the low barriers to entry in the LED industry, in the past few years, a large amount of capital has poured in, and oversupply, the gross profit margins of all sectors of the industry chain have fallen sharply, and many manufacturers are facing losses or even elimination. According to incomplete statistics, there were 4,000 LED companies disappearing in the market in 2015. In 2016, the supply and demand relationship of the LED industry will be eased, and overcapacity will become more apparent. We should give full play to the guiding and restricting functions of planning, policies and standards, strictly enforce access conditions, strengthen industry access management, improve the industry monitoring system and over-capacity warning system, and strengthen and improve industry management. Promote mergers and acquisitions and accelerate the elimination of zombie enterprises It is reported that this year's government work report puts forward specific requirements for industrial development, and strives to resolve excess capacity and reduce costs and increase efficiency. Strictly control new capacity, resolutely eliminate backward production capacity, and orderly withdraw excess capacity. Take measures such as mergers and acquisitions, debt restructuring or bankruptcy liquidation to actively and steadily handle zombie enterprises. Miao Wei, Minister of Industry and Information Technology, said that it will promote the orderly exit of inefficient production capacity, actively and steadily handle zombie enterprises, encourage conditional enterprises to cross-industry and cross-regional mergers, and vigorously support the development of small and micro enterprises, and continue to promote the decentralization of power. Reform measures combined with management. Zombie enterprises occupy a large amount of social resources, but they cannot create corresponding social values. Accelerating the merger and reorganization of such enterprises can effectively release the social resources they occupy, and at the same time maximize the social value of the dominant enterprises: let the superior enterprises The advanced technology, productivity and management level promote the orderly development of the entire LED lighting industry. At the same time, effective mergers and acquisitions can also balance the supply-demand relationship of the market from the source, so that the market can be truly guided to guide the direction of industrial development. In the face of the reality of overcapacity, the development of LED lighting companies must be adjusted according to the actual situation. Market competition is cruel. LED lighting enterprises need to be fully prepared to resolve overcapacity. While constantly improving themselves, they can finally get rid of the overcapacity by relying on favorable external conditions.
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