Sanan Optoelectronics, a leading LED company, announced its annual report last night. The annual report was as bright as expected, and its net profit increased by 246% year-on-year. At the same time, it also gave a 10% increase in 10 shares. However, the market's response is a down limit. The main reason here is due to the sharp speculation of Sanan Optoelectronics in the previous market. Starting from 5.89 in November 2008, the highest price is 78 yuan. Sanan Optoelectronics has risen 12 in one year. More than double, the stock price is seriously overdrawn.
As China's LED lighting verification standards were formulated at the beginning of the year, the government will increase the “Ten Cities and Ten Thousand Miles†LED lighting demonstration project, which will be doubled to “50 cities and 2 million milesâ€.
However, in fact, these demands have not been significantly improved. Now, urban lighting is still dominated by light bulbs and lamps. Of course, the good policy expectations given by the government, the consensus reached at the Copenhagen conference, and the incandescent lamp substitution law that the EU has strictly implemented since September 2009, still bring certain performance expectations to the energy-saving lamp market.
In addition, according to DisplaySearch, shipments of LED-backlit LCD TV panels will increase from 36.5 million in 2010 to 184.9 million in 2015. This will constitute a positive for LED chip production. From the perspective of the industrial chain, semiconductor companies with independent intellectual property rights have certain potential.
Due to the vicious speculation of LED lights in the early stage, the price-earnings ratio of the stocks in the sector is currently around 30 times, except for Zhejiang Sunshine and Farah Electronics. The price-earnings ratios of other stocks are generally overestimated. The performance forecast of these companies in 2009 shows that the performance is not optimistic. In the case of unsatisfactory performance, most of the LED-related stocks have also outstripped the trend of the broader market this year. At present, the subject matter speculation is currently at great risk, and the stock price has greatly exceeded its performance expectations. Only after the valuation has fallen to a reasonable range, can we pay due attention to some enterprises in the industry that have core technologies for LED chip production, such as China Microelectronics, Zhenhua Technology, and Farah Electronics.
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