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In 2016, a lot of things happened in the LED industry: from March to March next year, four rounds of price surges, raw materials, chips, packaging and downstream lighting, all of which were affected; Osram's lighting business was acquired from Mulinsen, and Lumileds was sold to Apollo. Its funds, etc., horizontally and vertically cross-border overseas, LED industry various large and small acquisitions one after another; from Guoxing Optoelectronics Tang Qionglan resigned as deputy general manager, Foshan Lighting Deputy General Manager Mr. Jie Qing resigned, Lei Lining resigned from Hongli Optoelectronics General Manager In October, the chairman and vice chairman of the company will resign, the independent directors and supervisors of Lianjian Optoelectronics will leave, and Shao Jiaping will transfer to Osram from the general manager and technical director of Career China. The changes are similar to the two years of the year. However, we are still willing to talk about it, not blindly pursuing hotspots, not sorrowful and full of sorrows, not telling the old feelings about the past, just want to track the trajectory of this arrow and shuttle, look for the clues and context of LED development, think about the future of lighting Direction of development. The deep integration of the value chain is still the main theme. Forgive the small series of old tune, no new ideas and integration. However, it is undeniable that integration has already become the new normal of lighting enterprise development in the past two years. Integration is supreme, big integration and big win, small integration and small win, unconformity must be lost. At present, it is the era of comprehensive resource integration. Whoever takes the lead, who is the winner, while these sounds are endless, the lighting companies have already acted (see the table below). From the above table, we can easily see that in 2016, LED industry mergers and acquisitions showed several characteristics: 1. Acquisitions changed into luxury purchases; 2. Overseas acquisitions increased, and many were blocked; 3. Cross-border mergers and acquisitions increased, the main areas were sports and education. , VR, drones, medical and health fields, etc.