Abstract Recently, GTAdvanced Technologies (GTAT), a US sapphire raw material supplier and sapphire production equipment manufacturer, announced that it has filed an active bankruptcy filing with the US Bankruptcy Court. For a time, nothing but nothing...
Recently, the US sapphire raw material supplier and sapphire production equipment manufacturer GT Advanced Technologies (GTAT) announced that the company has filed an active bankruptcy application with the US Bankruptcy Court. For a time, in addition to the company's more than 90% of the stock price, there are a large number of lay people from their cooperation with Apple, the sapphire industry is full of hope and confidence. The sudden burst of time is the pain and resentment that caused huge losses to its domestic enterprises and the government. But actually, is it really terrible? A few years ago, a company that entered the sapphire equipment and materials suffered consecutive losses. In 2013, the old PV equipment supplier with a revenue of 299 million US dollars and a profit margin of -30% came from such a large energy. After all, it was because GTAT and Apple reached a $576 million sapphire mobile phone screen supply agreement at the end of last year, making GTAT the most fat pig that flew up on the vent. Nowadays, the tide has receded, and the GTAT of the nude swimming has been discovered, so I have to silently bear the bitter fruit that I had originally brewed. For the domestic sapphire industry, has it suffered the above mentioned impact?
First of all, the huge losses caused by the GTAT bankruptcy have not been discussed. There are several companies that purchase GTAT sapphire production equipment in China, and some orders are expensive, but there are no cases where a large amount of deposits have been paid but no equipment has been obtained. Interpretation of relevant financial statements can support this point. As of the end of 2013, the GTAT backlog of products set a new record, valued at 602 million US dollars.
The failure of GTAT lies in its own business decision-making problems and lack of experience in mass production of 160kg-200kg sapphire crystals. Many of its product specifications promised to Apple are laboratory data, which can not withstand the test of mass production. In contrast, domestic companies that purchase GTAT equipment have undergone considerable and arduous technological transformation and innovation. Although the products are still far from the supply of mobile phone applications, they can fully meet the mainstream LED market demand. Considering the original intention of project construction and construction, in the strategic emerging industry projects supported by these countries and local governments, it should be said that domestic enterprises have fulfilled their mission.
Secondly, away from GTAT, domestic sapphire producers are still playing. Domestic companies are autonomous to technological transformation and innovation on GTAT equipment. After the GTAT bankruptcy, the production of enterprises that have purchased their equipment in China will not be affected, but the difficulty of expanding the production will definitely increase.
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