证券之星消息，1月29日照明设备板块较上一交易日下跌1.27%，立达信领跌。当日上证指数报收于 4157.98，上涨0.16%。深证成指报收于14300.08，下跌0.3%。照明设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002723 | 小ळ股份 | 8.56 | 2.03% | 21.74万 | 1.90亿 | | 920641 | 格利尔 | 20.39 | 1.29% | 1.47万 | 2988.96万 | | 600261 | 阳光照明 | 3.66 | 0.27% | 18.14万 | 6649.92万 | | 001326 | 联域股份 | 50.98 | 0.20% | 1.34万 | 6929.68万 | | 920339 | 恒太照明 | 9.95 | -0.30% | 5262.5 | 522.38万 | | 002076 | *ST星光 | 2.34 | -0.43% | 27.90万 | 6599.88万 | | 300625 | 三雄极 ...

从资金流向上来看，当日照明设备板块主力资金净流入1843.34万元，游资资金净流出87.34万元，散户资 金净流出1756.0万元。照明设备板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002724 | 出热奥 | 7.67 | 10.04% | 38.47万 | 2.86亿 | | 603515 | 欧普照明 | 19.98 | 0.55% | 2.34万 | 4645.10万 | | 920339 | 恒太照明 | 9.98 | 0.50% | 4 8074.8 | 801.71万 | | 600261 | 阳光照明 | 3.65 | 0.00% | 12.80万 | 4678.09万 | | 603303 | 得邦照明 | 14.62 | -0.27% | 2.05万 | 2997.53万 | | 300625 | 三雄极光 | 12.74 | -0.31% | 2.42万 | 3097.55万 | | 001326 | 联域股份 | 50.88 | -0.74 ...

从资金流向上来看，当日照明设备板块主力资金净流出6241.32万元，游资资金净流入1810.32万元，散户 资金净流入4431.0万元。照明设备板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 603515 | 欧普照明 | 700.52万 | 10.03% | -116.72万 | -1.67% | -583.80万 | -8.36% | | 603303 | 得邦照明 | 221.38万 | 4.74% | -344.25万 | -7.37% | 122.86万 | 2.63% | | 920339 | 恒太照明 | 105.21万 | 11.24% | -105.66万 | -11.29% | -6.32万 | -0.68% | | 301362 | 民爆光电 | V 0.00 | | 0.00 | 1 - | 0.00 | -- | | 920641 | 格利尔 | -100.54万 ...

证券之星消息，1月23日照明设备板块较上一交易日下跌1.3%，立达信领跌。当日上证指数报收于 4136.16，上涨0.33%。深证成指报收于14439.66，上涨0.79%。照明设备板块个股涨跌见下表： 从资金流向上来看，当日照明设备板块主力资金净流出1.41亿元，游资资金净流入4903.16万元，散户资 金净流入9234.68万元。照明设备板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 000541 | 佛山照明 | = 443.61万 | 3.46% | -86.00万 | -0.67% | -357.60万 | -2.79% | | 603303 得邦照明 | | 371.81万 | 3.19% | -1417.09万 | -12.18% | 1045.28万 | 8.98% | | 920339 恒太照明 | | 42.48万 | 2.82% | -178.04万 | -11.80% ...

南方财经1月23日电，得邦照明(603303.SH)2026年1月22日发布公告，确认收到上海证券交易所问询 函，就其拟现金收购浙江嘉利（丽水）工业股份有限公司67.48%股份的重大资产重组草案提出多项问 询。 交易所首要关注的是本次交易的定价公允性问题。得邦照明拟以约6.54亿元现金收购嘉利股份44.72%的 老股，此作价对应的估值高达14.62亿元，显著高于评估基准日的资产基础法评估值14.01亿元，更远超 嘉利股份在新三板创新层挂牌期间的市值水平。监管层要求公司详细解释该估值显著高于公开市场交易 价格的原因及合理性，并说明为何选择资产基础法而非市场法作为定价依据，同时要求披露交易对方中 财务投资人前期约定的回购协议条款，澄清标的公司是否承担相关义务。 其次，标的公司庞大的固定资产与在建工程规模引发对其产能过剩风险的疑虑。报告期内，嘉利股份固 定资产和在建工程合计约12.24亿元，但在其营收、毛利率持续下滑乃至出现亏损的背景下，交易所要 求公司结合产能利用率、产销率等数据，说明新增投资的必要性以及资产减值准备的充分性。 此外，嘉利股份高企的应收账款和存货也成为问询重点。其应收账款账面价值超10亿元，存货规 ...

1月22日，得邦照明（603303）重大资产重组引来上交所问询。监管问询的五方面问题全部聚焦标的资 产嘉利股份，分别涉及标的资产的定价公允性、固定资产与在建工程、应收账款与存货、瑕疵资产，以 及标的资产盈利能力与管控安排等。 回看重组草案，得邦照明拟以支付现金购买黄玉琦等股东所合计持有的嘉利股份6091.71万股股份，同 时拟以现金认购嘉利股份新增股份1亿股，交易价格合计14.54亿元。本次交易完成后，得邦照明将持有 嘉利股份1.61亿股股份，占嘉利股份总股本的67.48%，嘉利股份将成为上市公司的控股子公司。 值得关注的是，嘉利股份是一家新三板公司，主要专注于车载照明灯具领域，是国内重要的车用照明解 决方案供应商。而得邦照明专注于通用照明行业，并不断向车载领域拓展。对其而言，本次交易有利于 扩大和巩固公司在车载照明领域的战略布局。 然而，重组草案详细披露交易细节后，上交所对标的公司嘉利股份发出"五连问"，严格把关本次重大资 产重组质量。 第一问：定价公允否？ 根据重组草案，本次交易采用资产基础法与市场法对标的公司股东的全部权益价值进行评估，并采用资 产基础法评估结果作为评估结论。评估基准日，嘉利股份全部权益 ...

横店集团得邦照明股份有限公司（以下简称"公司"）于 2026 年 1 月 22 日 收到上海证券交易所上市公司管理一部《关于对横店集团得邦照明股份有限公司 重大资产重组草案的信息披露的问询函》（上证公函【2026】0085 号）（以下简 称"《问询函》"），现将《问询函》内容公告如下： "横店集团得邦照明股份有限公司： 2026 年 1 月 13 日，公司披露重大资产购买报告书（以下简称草案），拟现 金购买浙江嘉利（丽水）工业股份有限公司（以下简称嘉利股份或标的公司）的 67.48%股份（以下简称本次交易）。经审阅你公司披露的草案，现有以下问题需 要你公司作出说明和补充披露。 一、关于定价公允性。本次交易采用资产基础法与市场法对标的公司股东的 全部权益价值进行评估，并采用资产基础法评估结果作为评估结论。评估基准日， 嘉利股份全部权益价值为 140,051.98 万元，与嘉利股份合并报表口径的归属于 母公司股东权益账面价值 95,980.50 万元相比，评估增值 44,071.48 万元，增值 率为 45.92%。上市公司支付 65,375.10 万元现金向嘉利股份实控人及财务投资 人购买 6,091.71 万 ...

得邦照明公告称，于2026年1月22日收到上交所《问询函》。1月13日公司披露草案，拟现金购买嘉利股 份67.48%股份。上交所要求公司就多项问题作出说明和补充披露，包括定价公允性，如老股转让作价 高于新三板市值的原因及合理性；固定资产与在建工程，分析新增原因及减值充分性；应收账款与存 货，说明坏账及跌价准备计提的充分性；瑕疵资产对交易的影响；标的资产盈利能力下降原因及收购后 的整合管控安排等。公司需在十个交易日内书面回复并修改草案。 ...

Core Viewpoint - The lighting equipment sector experienced a slight increase of 0.04% on January 21, with Xiaosong Co. leading the gains. The Shanghai Composite Index closed at 4116.94, up 0.08%, while the Shenzhen Component Index closed at 14255.12, up 0.7% [1]. Group 1: Market Performance - Xiaosong Co. (002723) led the sector with a closing price of 9.03, reflecting a gain of 2.50% and a trading volume of 117,500 shares, amounting to a transaction value of 106 million yuan [1]. - Other notable performers included Sanxiong Aurora (300625) with a closing price of 12.79, up 0.95%, and Debang Lighting (603303) at 14.29, up 0.92% [1]. - The overall trading volume and transaction values for various companies in the lighting equipment sector were detailed, indicating active market participation [1]. Group 2: Capital Flow - The lighting equipment sector saw a net outflow of 25.49 million yuan from institutional investors, while retail investors contributed a net inflow of 35.79 million yuan [2]. - The capital flow data highlighted that Xiaosong Co. experienced a net inflow of 4.08 million yuan from institutional investors, while it faced a net outflow of 4.04 million yuan from speculative funds [3]. - Other companies like Hengtai Lighting (920339) and Debang Lighting (603303) showed mixed capital flows, with varying degrees of net inflows and outflows from different investor categories [3].

Investment Rating - The report maintains an "Outperform the Market" rating for the home appliance industry [5][6][12]. Core Views - The home appliance sector is expected to recover in 2026, driven by the continuation of national subsidies and stabilization of exports, suggesting a positive outlook for leading white goods companies [1][12][18]. - December retail performance for home appliances showed signs of bottoming out, with significant declines in major appliances but a relatively stable performance in small appliances [1][19]. - The report highlights the resilience of leading companies in the home appliance sector, with a focus on white goods, which are expected to maintain steady growth despite high base effects [12][13]. Summary by Sections 1. Key Recommendations - Recommended companies include Midea Group, Haier Smart Home, TCL Smart Home, Gree Electric Appliances, and Hisense Home Appliances for white goods; Hisense Visual for black goods; and Roborock, Bear Electric, and Ecovacs for small appliances [4][12][13]. 2. December Retail Performance - In December, the retail sales of major appliances saw declines exceeding 20%, while small appliances showed slightly better demand, with air fryers experiencing growth [1][19]. - The offline sales channels for major appliances faced declines of over 40%, while kitchen small appliances remained relatively stable [1][19]. 3. Export Performance - In December, China's home appliance exports decreased by 8.1% year-on-year, with air conditioners facing a significant decline of 20.7% [2][37]. - Other categories like refrigerators and washing machines showed modest growth, indicating a mixed performance across different product lines [2][37]. 4. U.S. Market Insights - U.S. retail sales for home appliances showed a slight increase of 0.8% in November, indicating a gradual return to stable growth despite challenges such as tariffs and inflation [3][43]. - The inventory levels in U.S. appliance stores are returning to normal, suggesting improved market conditions [3][43]. 5. Company Earnings Forecasts - The report provides earnings forecasts for key companies, indicating expected EPS growth for Midea Group, Gree Electric Appliances, and Haier Smart Home, among others, with all rated as "Outperform the Market" [5][76].