Financial Performance - The group's revenue reached $222,898 thousand, a decrease of 5.8% compared to the previous year[4] - The group's gross profit was $76,437 thousand, an increase of 2.4% year-on-year[4] - The profit for the year was $12,378 thousand, compared to a loss of $15,355 thousand in the previous year[4] - Profit attributable to the company's owners was $11,917 thousand, recovering from a loss of $17,450 thousand in the previous year[4] - Basic earnings per share attributable to the company's owners was 2.35 cents, compared to a loss of 3.44 cents in the previous year[4] - The group reported a profit before tax of $16,597 thousand for 2025, compared to a loss of $12,307 thousand in 2024[34] - The income tax expense for 2025 was $4,219 thousand, an increase from $3,048 thousand in 2024[34] - The group’s income tax expense increased to $4,219 thousand during the reporting year, primarily due to increased current tax provisions in countries including Vietnam[92] Revenue Projections - Total revenue for the year ending December 31, 2025, is projected to be $222.898 million, with contributions from international brands ($30.471 million), domestic non-Raishi brands ($8.716 million), and international non-Raishi brands ($183.711 million) [16] - For the year ending December 31, 2024, total revenue is expected to increase to $236.603 million, with international brands at $31.986 million, domestic non-Raishi brands at $11.458 million, and international non-Raishi brands at $193.159 million [16] Segment Performance - The group reported a total segment performance of $76.437 million for the year ending December 31, 2025, with segment profits from international Raishi brands at $12.401 million, domestic non-Raishi brands at $1.152 million, and international non-Raishi brands at $62.884 million [21] - The cost of sales for the year ending December 31, 2025, totaled $146.461 million, with costs attributed to international Raishi brands at $18.070 million, domestic non-Raishi brands at $7.564 million, and international non-Raishi brands at $120.827 million [21] Assets and Liabilities - Total assets less current liabilities amounted to $496,395 thousand, an increase from $478,879 thousand in the previous year[8] - Cash and cash equivalents increased to $124,449 thousand from $93,928 thousand in the previous year[7] - The group's net assets increased to $476,273 thousand from $467,930 thousand in the previous year[8] - Current assets as of December 31, 2025, total $279,884 thousand, compared to $249,238 thousand in 2024, with a current ratio of 2.87[97] - The company’s total borrowings increased to $13,542 thousand in 2025 from $2,603 thousand in 2024, with $12,955 thousand being unsecured loans[50] Operational Efficiency - The group plans to enhance product competitiveness through improved procurement strategies and cost management, including shifting production to Vietnam[82] - The group will continue to focus on digitalization and information technology improvements, including the implementation of ERP systems across subsidiaries[76] - The company aims to enhance R&D efficiency through strict implementation of the "Four Modernizations" (platformization, serialization, modularization, standardization), which is expected to significantly reduce costs and accelerate development cycles[65] Market Conditions - The global economic growth forecast for 2025 is stable at 3.2%, according to the IMF[56] - In North America, the home renovation market is facing unprecedented challenges, with a low housing turnover rate since 2023[58] - Japan's real GDP growth for 2025 is projected between 1.1% and 1.2%, impacting consumer spending negatively[59] - The Southeast Asian market is experiencing intense price competition, particularly in Singapore and Vietnam, affecting project timelines[62] - The Middle East and North Africa region is seeing sustained demand for lighting products driven by large-scale infrastructure developments[63] Strategic Initiatives - The company plans to continue brand upgrades for its lighting sub-brands in 2025, focusing on the three key elements of "light," "air," and "water" to enhance brand recognition and market share[64] - The company will implement a new brand positioning and visual identity for the "AURA" product line, with an official launch expected in 2026[65] - The company has applied for 6 new patents to establish a competitive advantage for premium pricing strategies[65] Employee and Governance - The total number of employees as of December 31, 2025, was approximately 1,752, a decrease from 2,163 employees as of December 31, 2024[115] - The audit committee, consisting of three independent non-executive directors, has reviewed and discussed the full-year performance for the reporting year[122] - The company has established a remuneration committee to review the compensation of individual executive directors and senior management, ensuring transparency in the remuneration policy[123] Dividend Policy - The board recommended not to declare a final dividend for the year 2025, consistent with 2024[4] - The company has no declared dividends for the years ending December 31, 2025, and 2024[38] Compliance and Reporting - The financial statements for the year ending December 31, 2025, have been reviewed by the audit committee and approved by the board[132] - The preliminary announcement of the consolidated financial position and results for the year ending December 31, 2025, has been agreed upon by the auditor, Deloitte[133] - The annual report containing audited financial results will be published on the Hong Kong Stock Exchange website and the company's website[131]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 （於開曼群島註冊成立的有限公司） （股份代號：2222） NVC International Holdings Limited 雷士國際控股有限公 司 內幕消息 本公告由雷士國際控股有限公司（「本公司」，連同其附屬公司合稱「本集團」） 根據香港聯合交易所有限公司證券上市規則第13.09條及證券及期貨條例（香 港法例第571章）第XIVA部發出。 本公司之董事（「董事」）會（「董事會」）希望知會本公司股東（「股東」）及潛在投 資者，基於對本集團的未經審計綜合管理賬目及董事會目前可得的其他資料 的最新初步評估，本集團預計於截至2025年12月31日止年度將錄得利潤約12.4 百萬美元，而截至2024年12月31日止年度則錄得虧損約15.4百萬美元，且預計 於截至2025年12月31日止年度將錄得本公司擁有人應佔利潤約11.9百萬美元， 而截至2024年12月31日止年度則錄得本公司擁有人應佔虧損約17.5 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 NVC International Holdings Limited 雷士國際控股有限公司（「本公司」）董事會（「董事會」）茲通告謹定於二零二六 年三月二十七日（星期五）舉行董事會會議，藉以（其中包括）考慮及批准本公 司及其附屬公司截至二零二五年十二月三十一日止的年度之全年業績及其發 佈，考慮建議派付末期股息（如有），以及處理其他事項。 承董事會命 雷士國際控股有限公司 董事長 王冬雷 香港，二零二六年三月十七日 於本公告日期，本公司董事為： 王冬雷 陳劍瑢 肖宇 王頓 非執行董事： 叶勇 獨立非執行董事： 李港衛 王學先 陳弘 執行董事： 雷士國際控股有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：2222） 董事會會議召開日期 ...

截至月份: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 雷士國際控股有限公司 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 呈交日期: 2026年3月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02222 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | USD | | 0.000001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 50,000,000,000 | USD | | 0.000001 | USD | | 50,000 | 本月底法 ...

Group 1 - KKR has maintained a long-term perspective in the Chinese market since its entry in 2007, focusing on trust, transparency, and value creation [1] - The company anticipates a stable economic growth phase in China, transitioning from a real estate-driven model to a digital and green economy, with a projected moderate growth rate in the mid-single digits [3] - KKR emphasizes the importance of enhancing portfolio quality, resilience, and capital efficiency, particularly in the context of the ongoing AI trend and structural themes [2] Group 2 - There is a growing trend of domestic control transactions in China, driven by retiring entrepreneurs and the need for strategic business adjustments among companies [4] - KKR believes that post-investment value creation is crucial for successful mergers and acquisitions, focusing on operational improvements and governance structures [4][5] - The company has successfully executed exit transactions totaling nearly $1 billion through various methods, validating its value creation strategy and reinforcing confidence in the Chinese market [5][6]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 雷士國際控股有限公司 呈交日期: 2026年2月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02222 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | USD | | 0.000001 | USD | | 50,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 50,000,000,000 | USD | | 0.000001 | USD | | 50,000 | 本月底法 ...

Core Insights - The "Guanghuo Hang Tianxia" Spring Action promotional event in Zhongshan, Guangdong, showcased over 100 companies participating in live streaming sales, significantly boosting daily exposure by 70%-80% and increasing single-session transaction volume by approximately 120% [1][2] - Guangdong's lighting industry is transitioning towards high-end, intelligent, and green manufacturing, moving from traditional production to a comprehensive solution model that integrates design and smart manufacturing [1][3] - The province's lighting industry is projected to generate revenues of 177.146 billion yuan in 2024, accounting for about 70% of the national market share, with exports valued at 54.92 billion yuan, representing 52% of the national total [3] Industry Development - The event featured major companies like Opple Lighting and Mulin Sen, with 20 premium exhibition booths and 80 quality enterprises conducting live streams, highlighting the shift from selling products to offering solutions and experiences [2] - Guangdong's lighting industry has established a robust ecosystem with a complete supply chain, leading to a competitive advantage in both domestic and international markets [2][3] - The region is developing a world-class lighting industry belt, with a focus on rapid response and one-stop procurement capabilities, attracting global buyers and capital [4][5] Future Outlook - The industry is evolving towards a model that emphasizes system solutions rather than just product sales, with Guangdong lighting companies participating in large-scale projects and establishing overseas warehouses and service centers [5] - The collaborative regional model, known as "1+1+N," is enhancing competitiveness, with Shenzhen focusing on high-end LED technology and Zhongshan serving as the largest production base for lighting fixtures globally [4][5] - The Guangdong lighting sector is leveraging its strong cluster foundation and growing international capabilities to expand its global market presence and pursue high-quality development [5]

致：香港交易及結算所有限公司 公司名稱: 雷士國際控股有限公司 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 呈交日期: 2026年1月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02222 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | USD | | 0.000001 | USD | | 50,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | 0 | | 本月底結存 | | | 50,000,000,000 | USD | | 0.000001 | USD | | 50,000 | ...

Core Insights - The article emphasizes the transition of the Guangdong-Hong Kong-Macao Greater Bay Area from a "manufacturing region" to a "strong manufacturing and innovation region," highlighting the importance of high-quality development in empowering world-class advanced manufacturing clusters [1][9] - The case of NVC Lighting, rooted in Huizhou, serves as a benchmark for local enterprises and provides a practical example for the breakthrough development of private manufacturing in the Bay Area [1][9] Group 1: Economic and Industrial Development - The Greater Bay Area is recognized as one of China's most robust manufacturing regions, with a complete industrial system, and the provincial government has outlined strategies to support the development of the private economy and accelerate the transformation of manufacturing towards intelligence and sustainability [3][4] - Huizhou has become a fertile ground for enterprises due to its improving industrial support and development ecosystem, which injects lasting momentum into the city's industrial capacity enhancement [3][4] Group 2: NVC Lighting's Strategic Development - NVC Lighting has invested 1.25 billion yuan to establish its Huizhou headquarters as a core hub for strategic decision-making, technology research and development, and resource coordination, centralizing key functions such as R&D and supply chain management [3][4] - The company has effectively linked upstream and downstream resources within the Bay Area, forming a tightly coordinated lighting industry cluster that reduces transaction costs and enhances the overall efficiency of the industrial chain, projected to drive over 3 billion yuan in industry scale by 2025 [4][5] Group 3: Innovation and Technology Integration - NVC Lighting collaborates with China Aerospace to rapidly transform innovative technologies into market-ready products, demonstrating efficient integration of Bay Area technological innovations with national markets [5][6] - The company has established high-end platforms such as the CNAS national recognition laboratory and has applied for over 2,000 patents, leading to the development of more than 170 national and industry standards, showcasing a complete chain from basic research to industry application [6][9] Group 4: Collaborative Growth and Regional Synergy - The article highlights the importance of local leading enterprises in breaking down industrial barriers between cities and optimizing regional resource allocation, with NVC Lighting acting as a key link in this process [4][9] - The development model of "leading enterprises + supporting ecosystem" is compared to successful practices in the global smartphone industry, providing a rich micro-practice sample for the Bay Area's development path [4][9]

Core Insights - The article highlights the strategic investment and operational advancements of Leishi Lighting in Huizhou, emphasizing its commitment to technological innovation and local economic development [1][3][5]. Group 1: Investment and Economic Impact - Leishi Lighting has made a significant investment of 1.25 billion RMB, increasing its registered capital to nearly 1.5 billion RMB, which reflects its recognition of Huizhou's business environment [3][4]. - The company’s investment has strengthened its headquarters in Huizhou, enhancing its operational capabilities and contributing to local tax revenue, with an annual contribution of nearly 10 million RMB from profit distributions [4][5]. Group 2: Technological Innovation - The company has established a smart production environment, replacing manual operations with automated systems, which has significantly improved efficiency and quality control [7][8]. - Leishi Lighting collaborates with prestigious institutions like the Chinese Academy of Sciences and Fudan University to advance key technologies in the lighting industry [7]. Group 3: Community and Social Responsibility - The company actively participates in community development through its "Light Plan," which aims to improve rural education by upgrading lighting in classrooms across multiple provinces [12][13]. - Leishi Lighting's commitment to ESG principles is evident in its initiatives focused on climate action, health lighting, and social responsibility [12][13]. Group 4: Future Development Strategy - Looking ahead to 2025, Leishi Lighting plans to focus on three strategic directions: aggregation, radiation, and ecological development, to enhance its influence in the lighting industry [15][16]. - The company aims to create a robust ecosystem in Huizhou, fostering closer ties within the supply chain and manufacturing systems to support sustainable growth [15].