Data from the "2021 China Night Economic Development Report" shows that the scale of China's night economic development is expected to increase to 36 trillion RMB in 2021. Among them, Beijing, Shanghai, Guangzhou and other cities have vigorously promoted the development of the night economy, tapping the consumption potential through the upgrading and upgrading of night consumption, and becoming the benchmark cities for the development of the night economy.
In recent years, various localities have increased their efforts to develop the "night economy" and launched corresponding urban lighting construction projects. For example, in April last year, the Xi'an Municipal Government formally issued the "Implementation Plan on Promoting Night Tour Xi'an", which clearly mentioned the need to vigorously develop "Night Scenery Lighting Project"-By 2020, Xi'an will complete five categories of night scene lighting projects, with 30 characteristic night-walking blocks, and the total retail sales of social consumer goods of more than 50 billion yuan. The city's characteristic night market will reach 100, the night tour of Xi'an has become a new highlight of the tourist image of the ancient capital.
The development of the night economy is inseparable from lighting. LED lighting and LED display are important elements for maintaining the order of economic life at night and creating nighttime scenery. The holding of major events such as the European Cup and the Winter Olympics will stimulate a sharp rebound in demand for LED displays. At the same time, as the cost of LED technology matures, new downstream application markets are gradually opening up.
With the prosperity of the night economy, some LED lighting companies have made profits, especially those with landscape lighting products. Judging from the performance of listed landscape lighting companies in the first quarter of this year, the overall performance is good. Leyard, Mingjiahui, and Hallsay landscape lighting companies have all achieved a resurgence in performance, and both revenue and net profit have achieved substantial growth. Industry insiders believe that due to the improvement of the epidemic prevention and control situation in the first quarter of 2021, as the epidemic becomes stable, the domestic economy is gradually recovering, the night economic demand is picking up, and the construction demand for urban landscape lighting and cultural tourism night tour projects is gradually improving.
