Latest data! China's lighting sales scale reached approximately 300 billion yuan in the first six months

Recently, CCTV's "News Broadcast" reported the good performance of the light industry economy in the first half of the year. The President of the China National Light Industry Council pointed out in an exclusive interview that since the beginning of this year, driven by a series of policies to stabilize growth, expand domestic demand, and promote consumption, the light industry economy has rebounded positively, with rapid production growth, steady market expansion, improved profitability, a significant increase in investment, and enhanced development momentum.

As an important part of the light industry, supported by positive factors such as further global economic recovery, gradual decline in inflation, continuous release of macro-policy effects, and some warming of external demand markets, the lighting industry's economic operation remained overall stable in the first half of 2024, with further adjustment of the production structure, improved efficiency, and Export volume maintaining historical highs.According to incomplete statistics, China's lighting sales scale reached approximately 300 billion yuan in the first six months, basically flat compared to last year.

Corporate Efficiency

Over 3,600 enterprises From January to June, the number of large-scale enterprises in the lighting industry exceeded 3,600, reaching a record high, with a year-on-year increase of approximately 2%.

5% Profits of large-scale lighting enterprises maintained an upward trend, with profit amounts reaching a two-year high, up 2% year-on-year; the profit margin exceeded 5%, basically on par with the light industry sector, and was 0.5 and 1.5 percentage points higher than that of large-scale industrial and manufacturing sectors, respectively. The loss amount of loss-making large-scale enterprises in the lighting industry decreased by approximately 4% year-on-year, and the loss ratio decreased by 0.5 percentage points year-on-year.

Smart lighting Thanks to the rapid development of smart lighting, large-scale enterprises manufacturing smart lighting fixtures in China have further improved their performance. The number of large-scale enterprises increased by approximately 10% compared to the same period last year, revenue grew by over 7%, and the number and amount of losses among loss-making large-scale enterprises decreased by 5% and 0.4% year-on-year, respectively. (Details: Briefing on the Operation of Large-Scale Enterprises in the Lighting Industry for the First Half of 2024)

Industry Export

$27.5 billion China's lighting industry foreign trade showed a stable recovery trend, with export volume maintaining a historical high. According to , in the first half of the year, the total export value of China's lighting products was approximately $27.5 billion, a year-on-year increase of 2.2%. Compared with data from the same period in the past five years, the cumulative export volume of China's lighting products in the first half of this year was second only to 2022, representing a 31% increase in export value compared to 2019 before the pandemic, ranking in the upper-middle position among key light industry export sectors.

Belt and Road Initiative In terms of export destinations, imports of China's lighting products into European and American markets have remained stable, while markets along the "Belt and Road" have provided new growth space for China's lighting foreign trade. From January to June, China's exports of lighting products to countries along the "Belt and Road" amounted to approximately USD 12.5 billion, a Year-on-year (YoY) increase of 8%, accounting for 46% of the total value of China's lighting product exports, an increase of 2 percentage points compared to the same period in 2023.

USD 20.7 billion In terms of exported products, Luminaire products play a significant role as a ballast. In the first half of the year, China's export value of Luminaire products was approximately USD 20.7 billion, a Year-on-year (YoY) increase of 3.4%, accounting for 75% of the total export value of China's lighting industry, basically flat compared to the same period last year. The export volume and value of fixed Luminaires, portable Luminaires, and other electric lamps and lighting devices designed to use only Light-emitting diode (LED) light sources achieved double-digit growth. (Details: A look at China's lighting industry export situation in the first half of 2024 through data)

Production aspect

8% In the first half of 2024, the industrial value-added of large-scale lighting enterprises was generally in an upward range, with the cumulative growth rate 8 percentage points higher than that of the same period last year.

Guangdong In the first 6 months, the production volume of "Luminaires and lighting devices" by large-scale enterprises increased by more than 10% Year-on-year (YoY), ranking among the top in terms of growth rate among 91 major light industrial products.Among the main production areas, Guangdong Province had the highest production volume of "Luminaires and lighting devices", with a Year-on-year (YoY) increase of 23%, accounting for 66% of the product's output, an increase of 5 percentage points from last year; Jiangxi Province had the fastest growth rate in the production volume of "Luminaires and lighting devices", with a Year-on-year (YoY) increase of 35%, accounting for 12% of the product's output, an increase of 1 percentage point from last year.

Decline In addition, from January to June, the production volume of "" by lighting enterprises above designated size declined, dropping by more than 15% compared to the same period last year. The year-on-year growth rates of production volume in major "Electric light source" producing regions all showed double-digit declines. Among them, Zhejiang Province had the largest production volume of "Electric light source", accounting for about 30% of the total output of this product; Fujian Province saw the largest decline in "Electric light source" production, with a year-on-year drop of nearly 70%.

In the second half of the year, in accordance with the central government's directives, government departments will introduce relevant policies to guide the industry in accelerating the cultivation and expansion of new consumer formats and models, enriching and expanding consumption scenarios, broadening the scope of inclusive policies, and creating a favorable development environment. It is believed that under the strong guidance of relevant policies, the potential of the domestic market will be further released, companies will continue to deepen their efforts in foreign trade markets, the resilience of China's lighting industry development will continue to be demonstrated, the industry will seize policy opportunities, while building the domestic trade market and stabilizing the fundamental aspects of industry development, actively promote technological innovation to improve quality and efficiency, enhance the advanced level of industrial foundations and the modernization level of the Industry / Supply chain, and with intelligent, green, and Healthy lighting innovation achievements, continuously accelerate collaborative development with industries such as cultural tourism, hotels, and agriculture, expand the scale of niche markets, and actively cultivate new quality productive forces in the industry.