[Source: "High-tech new industry" December issue / reporter Hu Yanling]
It has been a year, and the overcapacity crisis of LED upstream is still the same. As a major equipment supplier for the LED upstream industry, Aixtron (Ai Siqiang) can only do what it can do. Because the current global LE D chip market capacity for MOC VD (LED epitaxial wafer production equipment) demand is only about 1,600 units, but the number of existing MO C VD equipment in the world has reached 2,800 units.
As one of the fastest growing markets for the global LED industry, mainland China has seen a significant decline in the demand for MO C VD. In the first three quarters of 2012, the number of new MOCVD equipment in the Chinese mainland market was only 93, which is quite different from the 476 in 2011.
When will the way out, when will the cloud of excess LED capacity dissipate? To this end, "New Industry" interviewed Dr. Bernd Schulte, Chief Operating Officer and Executive Vice President of Ai Siqiang in early November.
"New Industry": At the beginning of this year, Ai Siqiang executives said that overcapacity caused many of the company's MOCVD orders to be suspended, and the inventory amount reached 200 million euros. This situation has continued to this day. May I ask Ai Siqiang how to resolve this operational risk?
Dr. Bernd Schulte: The third quarter was better than the second quarter. Orders in the third quarter rebounded to 34.5 million euros, up 15% from the second quarter. It began to help some customers install and debug equipment.
However, it is still difficult to predict when the industry turning point will come. The only certainty is that LED lighting applications will see a big growth in the next few years, and will also encourage LED chip makers to significantly expand their production capacity. These are the market opportunities of Ai Siqiang, and we have fully prepared for the next round of market growth. ready.
At least, the company has no debt at the moment. And we are still looking for ways to improve business efficiency and cost savings, and constantly optimize the cost of Ai Siqiang products.
"New Industry": From the financial report data, in the first three quarters of this year, Ai Siqiang's revenue was only 150 million euros, a year-on-year decrease of 68%, and a gross profit margin loss of 17.3 million euros. However, the financial data of the third quarter has shown signs of improvement, does the LED market have begun to pick up? Can you predict the annual performance of Ai Siqiang?
Dr. Bernd Schulte: At present, the capacity utilization rate of MO C VD equipment of LED chip manufacturers has reached a high level. In the past, when MO C VD capacity utilization rate increased, it means that MO C VD equipment orders will further increase, but in production capacity. In the context of excess, L ED chip manufacturers are still hesitant to increase production capacity. The fundamental reason is that the LED terminal application market price competition is too fierce, and the profit margin of LED chip manufacturers is compressed.
Now some customers are starting to buy MO C VD equipment, which is actually preparing for the next stage of technology trends. The L ED upstream market and equipment market are still not seeing signs of market recovery. Therefore, Ai Siqiang will not be able to turn losses in FY2012. It is expected to lose 125 million Euros in FY2012, with a total revenue of around 220 million Euros, which will fall by about 64%.
Unfinished:
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