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The phenomenon of increasing revenues without increasing profits has been carried out to the fullest extent. The downturn of epitaxial chip companies has also directly affected the profitability of MO source manufacturers, one of the key upstream raw materials.
On July 3, Nanda Optoelectronics (300346.SZ), a leading domestic MO source company, released the 2013 Semi-annual Results Announcement. The company said that the company expects net profit attributable to listed companies in the first half of 2013 to be about 30 million to 38 million yuan, down 30.57%-45.18% year-on-year.
In the above notice, Nanda Optoelectronics explained that due to fierce price competition, the sales price of the company's main MO source products decreased compared with last year, causing the performance to decline year-on-year.
"At present, the competition pattern of the four major suppliers of MO sources has remained basically unchanged. The situation of oversupply of MO sources still exists." Zhang Jianfu, director of Nanda Optoelectronics, said that the main source of MO source, trimethylgallium, is still operating at a low level.
“At the end of last year, the average market price of trimethylgallium decreased by 50% compared with 2011, and the gross profit margin was only about 50%.†Insiders said that the price of MO source will eventually return to rationality, and the era of high gross profit is no longer It is too likely to reproduce.
According to the financial report, the comprehensive gross profit margin of Nanda Optoelectronics dropped from the highest of 79.14% in 2011 to 63.52% in 2012. In the first quarter of 2013, gross profit margin continued to fall to 60.11%.
According to industry insiders, due to the high gross profit margin of early MO source products, with the recent two or three years, the four major suppliers of MO sources including Dow Chemical, Akzo Nobel, Safran, and Nanda Optoelectronics have expanded their production. As well as some new companies including Suzhou Pu Yao, the market competition is becoming increasingly fierce.
Nanda Optoelectronics has previously increased its market share in the domestic MO source market through cost and geographical advantages, so the gross profit margin can be maintained at a relatively high level in the past period of time. However, since last year, major MO source manufacturers have increased their sales in China, and the general capacity utilization rate of the external chip factory has been too low, which has also forced the domestic MO source manufacturers represented by Nanda Optoelectronics to make prices. concession.
“Dow Chemical is the world's largest supplier of MO sources, and its international chip giants, including Taiwan's Jingdian, are its customers.†An epitaxial chip factory procurement staff told reporters that several transnationals including Saifusi In recent years, the company is accelerating the pace of expansion in the Chinese market. It is understood that the current domestic chip manufacturers including Sanan Optoelectronics and Dehao Runda have become the main customers of Saifusi.
The reporter learned that as of the end of the first quarter of this year, the price of Akzo Nobel Trimethylgallium has also dropped to 11,500 yuan / kg, and the prices of Dow Chemical and Saifusi Trimethyl Gallium have also remained at 12,000 yuan / kg. Compared with the 2011 peak price period, there has been a significant decline.
According to the financial report data, the revenue of Nanda Optoelectronics' main business in 2012 was 177,305,700 yuan, a decrease of 45.09% compared with 2011. The main reason given by NTU is that the demand growth of MO source market has slowed down, the market supply has increased, and the product sales price has dropped. . 
[High- tech LED reporter Zhao Hui] The past year has been a tough year for the domestic LED epitaxial chip industry. Phased low-end overcapacity, chip prices continue to fall is the main tone of the year, resulting in the decline in profitability of most companies, most companies are at a loss.