China's Lighting Industry M&A in 2024: Key Developments
In 2024, China's lighting and LED industry witnessed significant mergers and acquisitions (M&A) activity, with 20 notable transactions shaping the sector. Among these, 9 deals were finalized, 6 remain in progress, and 5 were terminated. Companies like Foshan Lighting and Starlight Co. led the charge, with each participating in three deals.
Out of the 20 transactions, 12 disclosed their financial details, with 6 exceeding RMB 1 billion. The largest involved Juguang Technology’s acquisition of Switzerland’s SMO for RMB 5.86 billion, boosting its capabilities in micro-nano optics. Similarly, Langte Intelligent’s RMB 5.06 billion deal with Longzhiyuan highlighted the focus on scaling operations and innovation.
A growing trend in cross-border acquisitions emerged, as companies sought international assets to enhance their competitiveness. Juguang Technology's purchase of AMS Osram’s optical components in Switzerland and Singapore is a prime example, strengthening its position in automotive and electronics markets.
Diversification also played a critical role, with over half of the deals involving expansions into fields such as renewable energy, smart transportation, and quantum information. Starlight Co.’s investments in quantum technology and solar energy reflect this shift, aiming to build new growth opportunities.
Digital transformation further shaped M&A activity. Deals like Collai Technology’s acquisition of Jinlaide Lighting emphasized the integration of smart technologies into lighting solutions, particularly for digital tourism and smart lighting markets.
Looking ahead to 2025, the sector is expected to see continued M&A activity as companies pursue growth, adapt to technological changes, and strengthen their global presence, reinforcing China’s leadership in the lighting industry.
