Bull’s Ruan Liping, FSL’s Yu Zhongmin, OPPLE’s Wang Yaohai, Sanan’s Lin Zhiqiang… Top Leaders Speak Out in Unison: The Lighting Industry Stands at the Watershed of “Structural Recovery”
Since the start of 2026, the LED lighting industry has stood at a subtle watershed: the sector is transitioning from “volume up, prices down” toward structural recovery, with capacity consolidation, technological iteration and global expansion emerging as the variables that decide corporate fates. In recent weeks, the leaders of Bull Group, FSL (Foshan Electrical & Lighting), OPPLE Lighting, Ledvance-rival Leedarson, and Sanan Optoelectronics appeared at earnings briefings and spoke publicly.
What Did the Leaders Say?
Ruan Liping, Chairman & President, Bull Group: The company has fully launched its “three generations” innovation system, shifting R&D toward “forward-looking leadership.” Through a “research one generation, reserve one generation, develop one generation” approach, Bull aims to secure innovation-driven growth across three tracks: smart ecosystems, new energy, and internationalization.
Yu Zhongmin, Chairman, FSL: R&D spending has remained stable, focused mainly on smart healthy lighting and automotive lighting. Subsidiary Nationstar supplies LED chips for lighting and automotive-grade signaling; Mini/Micro LED is still in the market-introduction stage on both vehicle lamps and general lighting.
Wang Yaohai, Chairman, OPPLE Lighting: Overseas expansion follows a own-brand strategy, focused on Europe, the Middle East and Southeast Asia. The company will keep strengthening smart, low-carbon lighting solutions and maintain long-term healthy gross margins through cost reduction and efficiency gains.
Li Jianghuai, Chairman & GM, Leedarson: Strategy stays focused on lighting and IoT. In the OEM business the company is actively optimizing channel, product and customer structures, shedding low-efficiency investments; the own-brand business is upgrading around smart lighting and healthy light environments, shifting from “scale expansion” to “profitability improvement.”
Lin Zhiqiang, Chairman, Sanan Optoelectronics: In the first half, both LED epitaxial-chip and LED application businesses posted double-digit revenue growth. Going forward, Sanan will raise the share of high-end LED products to lift overall profitability.
Three Keywords Behind the Leaders’ Consensus
- Structural recovery: the industry is no longer chasing volume in a “volume up, prices down” race; instead, it is repairing profitability through product-mix upgrades and the exit of low-efficiency capacity;
- Technological iteration: Mini/Micro LED, healthy lighting and smart IoT are shared investment priorities — leaders are positioning for the next technology cycle;
- Globalization: own-brand exports and overseas plants (such as Southeast Asian bases) came up repeatedly — hedging tariff risk is now a strategic must.
Navigating between risk and opportunity, the top players’ choices converge: pursue profit through higher-value products, pursue growth in overseas markets, and pursue the future through the technology cycle.
Source: Da Zhaoming (GT Lighting), “Speaking Out Together: Bull’s Ruan Liping, FSL’s Yu Zhongmin, OPPLE’s Wang Yaohai, Leedarson’s Li Jianghuai, Sanan’s Lin Zhiqiang…”
