With the popularity of LEDs in the field of general lighting, market competition has entered a fever. The current situation of the profit being compressed, the homogenization is serious, and the innovation space is limited, which makes the manufacturers complain. In recent years, manufacturers have turned to niche markets, and automotive lighting as a relatively high threshold, and relatively stable blue ocean, has become the focus of more and more manufacturers.
Despite the consideration of cost, technology and market demand, the penetration rate of LED lamps in the domestic supporting market is still not high. However, most manufacturers have begun to develop LED lighting products for vehicles, and gradually increase the proportion of LED products. It can be seen that the trend of turning lights into LEDs is clear.
From the perspective of the global overall lamp market, most foreign-funded or joint-venture OEMs have relatively stable suppliers in the vehicle lamp supporting system. For example, Japanese car lamp suppliers include Otaru, Stanley, etc. La, Osram and so on. Therefore, the mid- to high-end passenger vehicle sector is basically monopolized by these foreign capitals and joint ventures. The Chinese car market is relatively fragmented and the market concentration is low. Foreign-funded background lamp companies rely on technical quality advantages and supporting relationships within the system to firmly occupy a certain market share; while limited by technical strength and customer resources, the local car lamp enterprise market is more inclined to low-end passenger cars and after-loading. In the field, but some domestic vehicle lamp companies are also actively adopting low-price strategies to compete for quality customers and projects.
This time, we selected the representative key manufacturers in the Chinese lamp market to explain in detail their business models and development strategies in the field of vehicle lights.
Leading joint venture – Shanghai Xiaoyan
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Shanghai Xiaoyan is a Sino-Japanese joint venture. Its shareholder, Japan Otaru, is the largest automotive lighting company in Japan and a member of Toyota Motor Corporation's vertical series. The products are mainly supplied to Toyota and other automobile manufacturers, and are the largest annual output of headlights. . In 1989, Otaru Manufacturing Co., Ltd. and Toyota Tsusho Co., Ltd. jointly established Shanghai Xiaohao Auto Lamp Co., Ltd. with Shanghai Huayu Automotive Systems Co., Ltd. The total investment is 20.2 billion yen and the registered capital is 7.4 billion yen.
Shanghai Xiaoyu is in the leading position in the Chinese car lamp market. It currently has an annual production capacity of about 3 million sets and a total sales volume of over 39.83 million lamps. The company has production bases in Jilin, Chongqing, Yantai, Changzhou and other regions. The products are more than 500 varieties, mainly headlights, taillights, sign lights, third lights, and various bulbs. Major OEM customers include Shanghai GM (Regal, Hyatt, GL8, Sail), Shanghai Volkswagen (Passat, POLO, GOLF, Santana), SAIC, Tianjin FAW Toyota, FAW-Volkswagen, Dongfeng Nissan, Dongfeng Passenger Vehicle, Changan Ford Changan Suzuki, Anhui Chery, Beijing Jeep, Sichuan Toyota, Jiangsu Yueda, Dongfeng Shenlong, Nanjing Iveco, Changan PSA, etc. In addition, more than 40 kinds of products are exported to international markets such as Europe, America and Japan.
Seize the opportunity in the Chinese market and continue to develop. At the beginning of the establishment of the localization strategy, the main sales channel of Shanghai Xiaoyan products was Toyota Tsusho Corporation, and it was also sold to the domestic and foreign markets through the agency of Japan Otaru Import & Export Corporation. At the end of 1990, with the completion of Xiaoyan's overseas bases, Shanghai Xiaoyu gradually focused on the Chinese market, and the number of exports decreased. Due to the timing of investment, the quality of the products has advantages, and the factory is set up in China earlier than Hella, the main supplier of German headlights, the company has grown rapidly. At a time when Hella has not yet ploughed into the Chinese market, it has become the main supplier of Shanghai Volkswagen for the investment of Germany.
In addition, Shanghai Xiaoyu continued to develop its leading strategy in geochemistry and technology, and used the technology of Japan's Otaru to combine local production and human resources and industrial environment in China to achieve economies of scale. Localization of components, molds and R&D designs has been basically achieved. The company established the R&D department in 1997 and has now established an independent technology research and development system. Since 1999, Shanghai Xiaoyu has undertaken a major project of the National Science and Technology Research Program of the 10th Five-Year Plan and served as a director of the National Semiconductor Lighting Association. Currently, 30 new models of lamps are equipped. As of the end of 2012, the company had a total of 489 patents, including 49 invention patents. The development of LED headlamps and light guide technology has also made breakthroughs, and research is being planned in areas such as night vision. In recent years, with the improvement of technical capabilities, Shanghai Xiaoyan has also begun to enter the high-end car lighting market, and in 2011 with the Audi Q5 (X88) project started the first battle.
Leading local Chinese manufacturer – Xingyu
Xingyu Co., Ltd. was formerly known as Changzhou Xingyu Car Light Co., Ltd., which was established in 2000 and was renamed Xingyu after its listing in 2007. Xingyu is currently the largest domestic-owned lamp company in China. It has an annual production capacity of 25 million lamps of various types, and its market share has also increased year by year. At present, the Chinese market accounts for about 15%. Customers cover German, Japanese, American, French and independent brands, including FAW Group, Shanghai Volkswagen, Shanghai GM, Chery Automobile, Dongfeng Nissan, Guangzhou Automobile Passenger Vehicle, and Shenlong Automobile. The company also has a standard test center that meets ECE regulations for type testing and light distribution testing of various headlights and retroreflectors. At present, the company has more than 200 patents of various types, including 13 invention patents.
In 2014, the company's total revenue was 2.02 billion yuan, and the sales revenue of headlights increased by more than 20%. The sales revenue of joint-venture brand automakers accounted for more than 70%; the sales revenue of headlamps and rear combination lamps accounted for more than 60%; among the new projects, the number of headlights, rear combination lamps and fog lamps accounted for more than 40%. . In the first three quarters of 2015, total revenue reached approximately 1.71 billion yuan.
Opened the globalization strategy and entered the field of smart lights for nearly two years, Xingyu began a globalization strategy. In 2014, the company won the Audi SUV rear combination lamp development project, passed the German BMW supplier review, and successively obtained the side turn signal and charging indicator development project. In addition, Xingyu acquired I&T at the end of August 2014, laying a good foundation for further expansion of European mid- to high-end luxury vehicle wiring and other components. In the future, it is expected to enter the global market supporting system through the matching of high-end luxury cars such as BMW and Mercedes-Benz to open a new blue ocean.
In terms of technology development, Xingyu began to enter the field of smart car lights. In 2014, the company's first AFS headlamps were successfully developed and put into production. Currently, they are mainly equipped with GAC Group's independent SUVs. ADB headlight samples are expected to be completed in 2016. In addition, Xingyu plans to invest 1.5 billion yuan for the expansion project of Jilin Changchun production base and the construction of automotive electronics and lighting R&D center. The company has also made great breakthroughs in the field of LED lamps. In the past two years, it will continue to expand the matching of LED headlights in its own brand models. At present, LED lamps account for more than 20% of revenue, and it is expected that the proportion will continue to increase in the future.
Benefiting from national policies and import substitution, steady growth in performance
In 2015, after the State Council announced the preferential policy of halving the purchase tax of passenger cars below 1.6L displacement, the growth rate of car sales rose sharply. More than 90% of the supporting models of Xingyu products are A-class vehicles, and there are more small-displacement models, which obviously benefit from the purchase tax preferential policy. In the first half of 2015, the company produced a total of 31 car light projects, and undertook 61 car lamp R&D projects. The sales and production situation is good, and the reserve orders are stable in the next two or three years. There are new models in FAW-Volkswagen, Dongfeng Nissan and FAW Toyota. The supporting project planning, Foshan and Changchun factories have also started. Therefore, 2016 results are expected to achieve rapid growth.
In terms of market distribution, Xingyu's headlight business is still pre-installed. In 2015, the company's revenue in the after-loading lamp business was only tens of millions, accounting for about 5% of its overall revenue. At present, the increase in the cost of the terminal plant has accelerated the import substitution. In terms of import substitution, Xingyu mainly follows the strategy of cutting in low-end products from high-end customers and gradually switching from low-end products to mid-to-high-end products. In the customer structure, we have been taking the joint venture brand and high-end route, and achieved breakthroughs in the top three German-based companies, Audi, BMW and Mercedes-Benz. It is expected that with the gradual improvement of China's automobile aftermarket market system and the rapid increase of China's automobile ownership, Xingyu still has a large room for improvement in the development of the aftermarket.
Aftermarket, the new force – Shellett Optoelectronics
Founded in 1992, Snowlight Optoelectronics is headquartered in Foshan, Guangdong, with more than 2,000 employees and a manufacturing base in Suining, Sichuan. It is the first company in China to produce HID xenon headlights. At present, the company's main business areas include LED lighting, automotive lighting, air purification, water treatment, ultraviolet germicidal lamps and other fields, and in 2015, the company drove the UAV business into the UAV business. In the first three quarters of 2015, revenue reached 540 million.
Establishing autonomous patent system and laying out the LED headlight business as a local Chinese company, the snowlight lamp technology has certain advantages in China, and currently has 43 technical patents in the field of xenon lamps. Its patent system is also the only intellectual property system in the world of automotive xenon lamps except Philips. In the field of automotive lights, Shell is the third company in the world and the only company in Asia that has passed the test and certification of complete vehicles. Therefore, the company cooperates with automobile manufacturers such as Chery, Jianghuai, Huatai, Geely, Brilliance, Changan, etc. to carry out HID car Xenon lamp complete vehicle support.
In terms of strategic layout, in the past two years, Shell Wright has invested in the LED industry and increased its investment in LED lighting and vehicle lights. In 2014, it first acquired Fushun Optoelectronics for 495 million yuan, and then invested 10.856 million yuan to acquire 57.42% equity of Yike Optoelectronics in the form of capital increase. Fushun Optoelectronics' main business is LED lighting products and display systems, while Yike Optoelectronics is the main company for automotive LED lighting products. The investment is intended to help Shell Wright develop LED headlight business and realize the operation of two product lines of “automobile xenon lamp and car LED lighting†to seize a larger market share. In the same year, Shellett launched the first LED car headlight product pioneer, the market has a high degree of attention.
In addition, in March 2015, the company invested 510,000 yuan to establish Foshan Xuelaite Automobile Intelligent Electronics Co., Ltd., which is mainly responsible for selling automotive lighting products in China. The purpose is to form synergies with the company's existing automotive lighting business, accelerate the strategic layout of the company's automotive lighting applications in the vehicle sector, and gradually develop and promote automotive intelligent electronic products.
Based on the aftermarket, actively enter the front loading <br> Snowlight has been targeting the rearlights market in recent years, and has launched “New Legendâ€, “Super Decodingâ€, “F1 Quick Start†and “FBI Bulbâ€. "Leader LED lights" and many other products are the lighting brands in the field of post-installation automotive lights. After several years of development, it has become a domestic manufacturer with a large influence on the rear-mounted automotive lamp.
Due to the lack of warmth in the domestic modification market, the rear-mounted lamp market has not been of much scale. However, in November 2015, the government fully launched the development and implementation of relevant standards in the automotive aftermarket segment. In the process of formulating the upcoming national standard for car modification, in addition to the reference to international standards, leading brands in various segments will be invited to provide professional reference. In addition, they will fully support these enterprises to become bigger and stronger, and directly recommend them to dock the OEMs' comprehensive cooperation supply chain. At that time, the production standards of accessories manufacturers like Shellett may become an important reference part of the country of car modification. In the future, with the introduction of the target of automobile modification, the domestic modification market will gradually be released, and the market for rear-mounted lamps will also enter the competition. As a pioneer in the market, Shelley is expected to be further consolidated and strengthened.
In addition to continuing to develop the rear mounted light market, the company's future strategy also includes the use of its own technological advantages to seize the mid-end front-loading market and gradually replace the import into the vehicle sector.
Summary: Foreign-funded background enterprises continue to lead the market, local manufacturers gradually realize positioning and upgrade to observe the current competitive landscape of China's car lamp industry. In the domestic passenger car lamp matching market of mainstream joint-venture OEMs, competition still exists mainly in the front end of the industry. Light between businesses. The foreign-invested background lamp company has formed a solid cooperative relationship with the domestic mainstream joint-venture OEMs, and also has the advantages of technology brands, etc., and will continue to lead the development of new technology of the lamp, occupying a large market share. The local headlights enterprises that have entered the domestic mainstream joint-venture OEMs are striving to upgrade their mid- and low-end passenger car lights, while they are striving to achieve product upgrades and customer upgrades, and gradually enter the mid- to high-end passenger car lights. In the field, the market share will continue to increase in the future.
In addition, with the increase in domestic car ownership and the formulation and implementation of national standards, the market for rear-mounted car lights is increasing, and market share will gradually open. At present, the after-sales market of the car lights is mixed, and the quality of the products is mixed. In the future, with the country's regulation of the after-sales market, the leading players in this field are expected to achieve further scale improvement with their own technology and product advantages and government support, and the market space is huge.
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