GGII: In 2015, the scale of LED industry mergers and acquisitions has exceeded 28 billion yuan and presented five characteristics.
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Feature 1: The scale of a single M&A case has expanded dramatically. The largest M&A case in the LED industry in 2014 was the acquisition of Beijing Shenan by Feile Audio, with an overall price of 1.59 billion yuan. In the first half of 2015, the size of the single M&A case increased sharply. The largest M&A case in the first half of the year was taken by GO Scale Capital to take the lead in acquiring 80.1% of the shares of Philips Lumileds (now renamed “Liangrui Tradingâ€), and the overall price was US$3.3 billion. , equivalent to about RMB 20.46 billion. The second largest acquisition was the acquisition of 59% of the shares of Jingneng Optoelectronics by Shunfeng International. The overall price was 2.04 billion Hong Kong dollars, equivalent to about 1.63 billion yuan, and the scale of mergers and acquisitions also exceeded Shen'an.
Features II: LED chips and M & A year later ushered icebreaking <br> <br> following the 2013 acquisition of Core harmony can, after three security Forepi stake in the success of the first half of this year, LED chip industry and mergers and acquisitions are frequent action - -Shunfeng International acquired Jingneng Optoelectronics, confirmed Lida acquired Born WorldCom and Guoxing Optoelectronics acquired Yaweilang, and China's LED chip industry merged and consolidated after a year of silence.
In addition to Born WorldCom, crystal energy optoelectronics and Yaweilang related products have a certain difference, of which, crystal energy photoelectric silicon substrate chip is its featured product, Yaweilang is the main UV chip.
Features 3: The LCD business and mergers and acquisitions is still an important subject <br> <br> benefit performance, promote the transformation pressure, recent mergers & LED display active. In 2014, Lianjian, Liard, Zhouming and Lehman all participated in the merger and acquisition, involving a total amount of 1.276 billion yuan. In 2015, the enthusiasm of display companies and M&A continued to rise. Even the long-lost Alto Electronics and Abisen have released M&A announcements. Up to now, the amount of LED display companies and M&A has reached 2.715 billion yuan, far exceeding that of 2014.
Features four: LED lighting automated production equipment company sought <br> <br> Following crystal Sheng Electrical Holdings for 138 million yuan after the photo, Handler taking over, 260 million yuan a wholly-owned acquisition of even large technology, LED lighting, automated production equipment Enterprises are sought after by the capital market. GGII believes that large-scale manufacturing is the future development trend of LED lighting. Driven by factors such as the gradual standardization of LED lighting products and the continuous increase in labor costs, the demand for LED automated production lines will increase explosively in the next two or three years.
Five characteristics: cross-border integration surging <br> <br> LED industry this year, surging cross-border consolidation, the most typical is to enter the Internet financial Hongli Opto-electronic, car networking, Union Optical march of things, beneficial up to enter the Internet media, remote photo Enter the genetic research industry and so on. Overall, cross-border acquisitions are dominated by complementary acquisitions.
Chart 1: List of LED industry mergers and acquisitions in 2015 (unit: RMB million, %) 
