Views: 0 Author: Site Editor Publish Time: 2025-06-25 Origin: Site
At the booth of Ningbo International Lighting Exhibition, Le Zuo, General Manager of Yasheng Lighting, gently stroked a smart street lamp and explained to the purchaser, "We are no longer just selling street lamps, but providing a complete set of EMC energy transformation solutions in the field of light. ”Not far away, Mr. Lu, the foreign trade salesperson of Mingwei Electronics, is having a low voice conversation with a customer. His notebook is densely recording the price curve of chips - in the past six months, his most repeated words are "rise" and "roll". Behind them, various new types of lamps reflect a cold light, reflecting the most complex changes in China's lighting industry.
Since the beginning of 2025, more than 10 lighting companies, from international giants such as Xinnuofei and Landwans to domestic leaders such as Mulinson and Bull, have issued price increase letters intensively, with the increase rising from 3% to 15%. Behind every piece of notice, a storm sweeping the global lighting industry chain is reshaping industry rules.
1.The wave of price increases is sweeping across the industry, putting pressure on enterprises to raise prices
The notice of price increase in the lighting industry is flying towards distributors like snowflakes. In January, Signify announced a maximum price increase of 10% for traditional lighting products under the Philips brand, with three categories of products including halogen lamps and fluorescent lamp starters leading the way. Following closely behind, Landwans will increase the prices of six types of products, including plug-in tubes and ceramic metal halide lamps, by 10%. Mulinsen will raise the prices of display modules due to the increase in PCB board prices, and the unit price of Haijia Group's LED module series products will increase by 0.5-1 yuan.
In the wave of price increases, the pace of enterprise price adjustments has become increasingly frequent. After completing the first round of 3% -10% price increases in March, ABB announced in April that it would implement a second price increase on the original Siemens brand switch sockets starting from June, with a maximum increase of 15%. Shanghai Delixi is taking urgent action and will raise the prices of wires and cables across the entire line from 9:00 am on April 23.
Only brands that can raise prices are called brands, and that is called brand pricing power, "said Liu Xi, Chairman of Jianzheng Lighting Technology, breaking the industry's unwritten rules. As international brands continue to raise prices with the confidence of premium prices, domestic small and medium-sized enterprises are struggling in the price quagmire - in 2024, China's lighting product exports will show a trend of "price for quantity", and the average export price will continue to decline throughout the year.
2.The combination of multiple pressures and high costs has become a catalyst for high costs
In the letter of price increase from lighting companies, "raw material price increase" has become a unified footnote. The prices of basic materials such as gold, copper, silicone, PVC, etc. continue to rise, especially in the field of chip packaging where gold and copper prices have risen the most fiercely. Semiconductor companies such as Shenzhen Chuangxin Microelectronics and Zhejiang Yaxin Microelectronics have already taken the lead in adjusting prices, and supply chain pressure has been transmitted downstream like dominoes.
The international logistics network is also showing red lights. Maersk, Daffy, Hapag Lloyd and other leading shipping companies have collectively raised sea freight prices, resulting in a situation where some routes are experiencing a "one box shortage". In late April, several shipping companies announced the imposition of a peak season surcharge of $1000-2000 per container on US routes starting from May, further squeezing the profits of foreign trade enterprises.
A more intense impact comes from international tariff policies. After the United States imposed tariffs on some Chinese lighting products, China's exports of lighting products to the United States decreased by 5% in the first quarter of 2025, and the overall exports to the North American market shrank. Under dual pressure, the export value of Guangdong's lighting products has plummeted by 19%, and the industry is shrouded in a cold winter atmosphere.
3.Industry polarization, survival crisis forcing transformation
In the wave of price increases, the performance picture of listed companies shows two poles of ups and downs. According to the 2024 annual report, Mulinsen ranked first with a revenue of 16.91 billion yuan, followed closely by Foshan Lighting with 9.048 billion yuan. But behind the glamorous numbers lies a hidden concern - Lei Shi International's net profit plummeted by 148.86%, turning from profit to loss; *ST Famous Brands has suffered losses for five consecutive years and is struggling on the brink of delisting.
The change in gross profit margin reveals more industry differentiation. OPPO Lighting leads with a gross profit margin of 39.29%, while the three major companies Aurora hold the 32.71% position, while most companies' gross profit margins have generally declined by 1% -6%. The only company that has risen against the trend is Lei Shi International, whose Vietnam factory capacity transfer and parts self-produced strategy have successfully reduced costs, resulting in a 10.6% increase in gross profit margin.
The cruel reshuffle has already begun. According to the 2024 National Enterprise Bankruptcy and Restructuring Case Information Network, over 70 lighting companies have issued bankruptcy liquidation notices. The industry concentration has accelerated, with the top ten brands' market share increasing by 3.2% year-on-year, while the number of small and medium-sized enterprises has decreased by 8.6%.
4.On the road to breaking through, enterprises take the initiative to attack
Ningbo enterprises are the first to explore ways to break through the impasse. Ming Microelectronics has invested in a software research and development team to create an integrated software and hardware solution, with a production automation rate of 30%. The internal competition market requires a technical threshold, "said Mr. Lu frankly." We can cover customized needs in 33 segmented scenarios.
Yasheng Lighting focuses on restructuring the industrial chain, from aluminum ingot die-casting to mold development, with a full layout. We provide not only lights, but high-quality light services, "said General Manager Yasheng at the Ningbo Lighting Exhibition. Yasheng's smart streetlight system integrates downstream resources to achieve intelligent lighting scheduling and precise light distribution, gradually covering the entire industry chain of LED lighting.
The technological revolution has given rise to new tracks. Moonlight Box Maternal and Child Technology has collaborated with a team of academicians from the Chinese Academy of Sciences to launch a blue light free silicon fund yellow LED product. General Manager Cui Jian held a small night light with a soft yellow halo and explained, "Traditional blue light products can only be priced, and the new technological route avoids homogeneous competition. 15 mother and baby lamps that integrate traditional cultural elements have been preheated on e-commerce platforms, targeting the high-end segmented market.
5.Value reconstruction, bidding farewell to the shadow of price war
There is a surging force of change within the industry. At the beginning of 2025, the China Consumer Goods Quality and Safety Promotion Association and Red Star Macalline jointly issued the "Initiative to Resist 'Internal Competition'", which directly pointed out "market trampling competition" such as low price dumping and malicious price comparison. This initiative is like an industry awakening declaration, calling for a return to the origin of value creation.
The transformation of Bull Group reveals the advanced path of lighting enterprises. With a dominant position in the converter market with a 50% market share, Bulls has established a channel barrier of "first come, first served". When the increase in raw material prices in 2018 caused the gross profit margin of the converter to drop to 33.26%, the Bulls used a small price increase strategy to raise the gross profit margin to 39.84% within six months. The strong discourse power of its industrial chain has made 2 billion yuan of accounts payable a working capital pool, supporting the enterprise's loan free operation.
This storm has swept away the wave chasers, and what will be tempered will be the truly globally competitive 'Legion of Light', "Ren Fengbo, director of the Ningbo Electronics Industry Association Special Committee, asserted at the globalization strategy seminar. At present, China occupies 70% of the global LED industry's production capacity, and the US market absorbs 23% of China's lighting exports. This deep binding relationship forces Chinese companies to redefine manufacturing value.
When the wave of price increases in the lighting industry becomes a micro footnote to macroeconomic fluctuations, we should not only see short-term cost pressures, but also pay attention to long-term value trends. For practitioners, this storm is not only a challenge, but also an opportunity to reconstruct the industry order. In the eternal tension between resource constraints and development needs, those enterprises that are able to complete the transition from price thinking to value thinking first will eventually occupy a favorable position in the new industry coordinate system. As industry observers, we will continue to track the evolution trajectory of this change and record the upward force of each step.
