（文章来源：证券日报） 证券日报网讯 9月3日晚间，得邦照明发布公告称，公司2025年第二次临时股东大会于2025年9月3日召 开，审议通过了《关于公司2025年中期利润分配的议案》等多项议案。 ...

吕跃龙先生符合相关法律、行政法规、规范性文件对董事任职资格的要求， 不存在《公司法》规定的不得担任公司董事的情形，未受到中国证监会的行政处 罚或证券交易所的惩戒，不存在上海证券交易所认定不适合担任上市公司董事的 其他情况。 特此公告。 证券代码：603303 证券简称：得邦照明 公告编号：2025-038 横店集团得邦照明股份有限公司 关于增选公司第五届董事会非独立董事公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 横店集团得邦照明股份有限公司（以下简称"公司"）分别于2025年8月14 日、2025年8月15日和2025年9月3日召开了第五届董事会提名委员会第一次会议、 第五届董事会第三次会议和2025年第二次临时股东大会，审议通过了《关于选举 公司第五届董事会非独立董事的议案》，同意任命吕跃龙先生为公司第五届董事 会非独立董事，任期自2025年第二次临时股东大会选举通过之日起至第五届董事 会任期届满之日止。 横店集团得邦照明股份有限公司董事会 2025 年 9 月 4 日 附件：董事简历 吕跃龙先生，1966 年 3 ...

2025 年第二次临时股东大会的法律意见书 康达股会字[2025]第 0225 号 到前套各位 A I AW FIRM 北京市朝阳区建外大街丁 12 号英皇集团中心 8、9、11 层 8/9/11/F, Emperor Group Centre, No.12D, Jianwai Avenue, Chaoyang District, Beijing, 100022, P.R.China 网址/Website: www.kangdalawyers.com 电话/Tel.: 010-50867666 传真/Fax: 010-56916450 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 舒南 昆明 南昌 北京市康达律师事务所 关于横店集团得邦照明股份有限公司 致: 横店集团得邦照明股份有限公司 北京市康达律师事务所(以下简称"本所")接受横店集团得邦照明股份有限公司(以 下简称"公司"）的委托、指派本所律师参加公司 2025 年第二次临时股东大会（以下简 称"本次会议")。 本所律师根据《中华人民共和国公司法》（以下简称"《公 ...

证券代码：603303 证券简称：得邦照明 公告编号：2025-037 横店集团得邦照明股份有限公司 2025年第二次临时股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 160 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 378,179,021 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 80.8664 | 根据法律、法规、规章和规范性文件对上市公司回购股份事宜的相关规定， 上市公司回购专用账户中的股份不享有股东大会表决权，公司现有总股本 476,944,575 股，截至本次股东大会股权登记日，公司累计通过股票回购专用证 券账户以集中竞价交易方式回购公司股份 9,285,538 股，故公司表决权股份总数 为 467,659,037 股。 (一) 股东大会召开的时间：2025 年 9 月 3 日 (二) 股 ...

Market Overview - The lighting equipment sector experienced a decline of 0.91% on September 1, with DeBang Lighting leading the drop [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Individual Stock Performance - Qingshang Co. (002638) saw a significant increase of 4.62%, closing at 2.49, with a trading volume of 727,600 shares and a turnover of 182 million [1] - Other notable performers included Greer (831641) with a 1.89% increase, closing at 19.37, and Komatsu Co. (002723) with a 1.09% increase, closing at 9.29 [1] - DeBang Lighting (603303) experienced a decline of 3.64%, closing at 14.58, with a trading volume of 74,800 shares and a turnover of 109 million [2] Capital Flow Analysis - The lighting equipment sector saw a net outflow of 19.35 million from institutional investors, while retail investors experienced a net outflow of 7.07 million [2] - Conversely, speculative funds recorded a net inflow of 26.42 million [2] Detailed Capital Flow by Company - Minexplosion Optoelectronics (301362) had a net inflow of 19.91 million from institutional investors, while retail investors saw a net outflow of 17.49 million [3] - Yangguang Lighting (600261) recorded a net inflow of 7.76 million from institutional investors, with retail investors experiencing a net outflow of 14.16 million [3] - ST Xingguang (002076) faced a significant net outflow of 9.19 million from institutional investors, while speculative funds had a net inflow of 4.91 million [3]

证券研究报告 | 投资策略研究*周报 2025 年 09 月 01 日 分析师 汪 毅 执业证书编号：S1070512120003 邮箱：yiw@cgws.com 分析师 王 正洁 执业证书编号：S1070524070004 邮箱：wazhjie@cgws.com 相关研究 投资策略研究 并购重组周报（2025/08/22-2025/08/28） 2025/08/22-2025/08/28 期间，新增并购重组的上市公司有 3家，分别 为得邦照明、东珠生态、南新制药，涉及的并购重组事件有 3个，涉及的上 市公司均为竞买方，本期间并购重组上市公司涉及的行业有家用电器、建筑 装饰、医药生物。 得邦照明：公司主要从事照明应用产品及相关业务的研发、生产和销售，涵 盖通用照明和车用照明两大核心产品板块，并涉及照明工程施工及其他辅助 业务。2024 年，公司营业收入达到 44.31 亿元，其中通用照明业务贡献最大， 实现收入 37.85 亿元，但同比下降 6.35%；而车载业务实现收入 5.96 亿元， 同比下降 4.43%。照明工程施工业务收入为 1.14 亿元，同比下降 36.48%。 从成本结构来看，材料成本占比较大 ...

Core Viewpoint - The acquisition of at least 51% of Zhejiang Jiali (Lishui) Industrial Co., Ltd. by Debang Lighting is aimed at strengthening the company's second growth curve, particularly in the automotive lighting sector, amidst declining financial performance [1][11]. Group 1: Acquisition Details - Debang Lighting plans to acquire Jiali Industrial through a combination of purchasing existing shares and capital increase, with a two-step process [4]. - The exclusivity period for the transaction is set until March 31, 2026, with a sincerity deposit of 6 million yuan that can be converted into the transaction price [4]. - Debang Lighting is a subsidiary of the Hengdian Group, holding a significant position in the general lighting sector, with major shareholders owning 74.92% of the company [4]. Group 2: Financial Performance - In 2024, Debang Lighting experienced its first simultaneous decline in both revenue and net profit in eight years, with revenue dropping from 4.697 billion yuan in 2023 to 4.431 billion yuan, and net profit decreasing from 376 million yuan to 347 million yuan [4]. - For the first half of 2025, the company reported a slight revenue increase of 0.40% to 2.152 billion yuan, while net profit fell by 19.66% to 143 million yuan [5]. - The net operating cash flow for the first half of 2025 plummeted by 99.15%, from 277 million yuan to 2.3642 million yuan [6]. Group 3: Target Company Overview - Jiali Industrial, a New Third Board listed company, specializes in the R&D and manufacturing of automotive lighting for passenger and commercial vehicles, with total assets of 3.576 billion yuan as of mid-2025 [8]. - In 2024, Jiali Industrial achieved revenue of 2.68 billion yuan and a net profit of 88 million yuan [9]. - The company has previously attempted to go public on the A-share market but shifted its focus to listing on the Beijing Stock Exchange after several setbacks [10]. Group 4: Market Context and Challenges - The demand for high-value automotive lighting products is increasing due to the rise of electric vehicles, with the value of lighting per vehicle increasing by 2-3 times compared to traditional fuel vehicles [12]. - Debang Lighting's expertise in LED optical technology combined with Jiali Industrial's experience in automotive-grade lighting could lead to competitive smart lighting products [12]. - However, differences in corporate culture and operational processes between the two companies may pose integration challenges post-acquisition [13]. - Jiali Industrial's revenue grew by 13.85% in the first half of 2025, reaching 1.32 billion yuan, but net profit declined by 14.63% to approximately 30.25 million yuan, indicating potential profit margin pressures due to industry competition [13].

Core Viewpoint - The acquisition of at least 51% of Zhejiang Jiali Industrial Co., Ltd. by Debang Lighting aims to strengthen the company's second growth curve, particularly in the automotive lighting sector, amidst declining financial performance [1][7]. Group 1: Acquisition Details - Debang Lighting plans to acquire Jiali Industrial through a combination of purchasing existing shares and capital increase, with a cash payment of 6 million yuan as earnest money [2]. - The acquisition is expected to be a significant asset restructuring, with a disclosure of the transaction plan or formal report within six months [1][2]. - The exclusivity period for the transaction is set until March 31, 2026, with a termination clause if not confirmed by December 31, 2025 [2]. Group 2: Financial Performance - In 2024, Debang Lighting experienced its first simultaneous decline in both revenue and net profit in eight years, with revenue dropping from 4.697 billion yuan in 2023 to 4.431 billion yuan, and net profit decreasing from 376 million yuan to 347 million yuan [2]. - For the first half of 2025, the company reported a slight revenue increase of 0.40% to 2.152 billion yuan, while net profit fell by 19.66% to 143 million yuan [2]. - The net cash flow from operating activities plummeted by 99.15%, from 277 million yuan in the previous year to 2.3642 million yuan [3]. Group 3: Target Company Overview - Jiali Industrial, a New Third Board listed company, specializes in the R&D and manufacturing of automotive lighting for passenger and commercial vehicles, with total assets of 3.576 billion yuan as of mid-2025 [4]. - In 2024, Jiali Industrial achieved revenue of 2.68 billion yuan and a net profit of 88 million yuan [4]. - The company has previously attempted to go public on the A-share market but shifted its focus to listing on the Beijing Stock Exchange after initially halting its IPO plans [5][6]. Group 4: Market Context and Challenges - The acquisition is positioned to capitalize on the growing demand for high-value automotive lighting products, driven by the increasing penetration of electric vehicles [7]. - Debang Lighting's expertise in LED optical technology combined with Jiali Industrial's experience in automotive-grade lighting could lead to competitive smart lighting products [7]. - However, cultural and operational differences between the two companies may pose integration challenges, and Jiali Industrial's profitability is under pressure due to price wars in the automotive supply chain [8].

Market Overview - The lighting equipment sector experienced a decline of 1.0% on August 29, with Debang Lighting leading the drop [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Individual Stock Performance - Notable performers in the lighting equipment sector included: - Minbao Optoelectronics (301362) with a closing price of 52.08, up 2.62% and a trading volume of 54,500 shares [1] - Sanxiong Aurora (300625) closed at 12.32, up 1.07% with a trading volume of 31,500 shares [1] - Sunshine Lighting (600261) closed at 3.47, up 0.87% with a trading volume of 238,200 shares [1] - Debang Lighting (603303) saw a significant decline of 4.84%, closing at 15.13 with a trading volume of 85,700 shares [2] Capital Flow Analysis - The lighting equipment sector saw a net inflow of main funds amounting to 50.69 million yuan, while retail investors experienced a net outflow of 60.80 million yuan [2] - The capital flow for individual stocks showed: - Minbao Optoelectronics had a main fund net outflow of 47.77 million yuan [3] - Sunshine Lighting recorded a main fund net inflow of 14.18 million yuan [3] - Debang Lighting had a main fund net outflow of 13.05 million yuan [3]

Group 1 - The core point of the news is that Debang Lighting's stock price dropped by 5.03% to 15.10 CNY per share, with a trading volume of 62.85 million CNY and a turnover rate of 0.86%, resulting in a total market capitalization of 7.202 billion CNY [1] - Debang Lighting, established on December 30, 1996, and listed on March 30, 2017, is primarily engaged in the research, production, and sales of general lighting and automotive components. The revenue composition is as follows: general lighting 82.84%, automotive lighting 13.45%, lighting engineering construction 2.57%, and others 0.73% [1] Group 2 - From the perspective of major circulating shareholders, Huaxia Fund's Huaxia Industry Prosperity Mixed Fund (003567) reduced its holdings by 2.4% to 11.4637 million shares, resulting in an estimated floating loss of approximately 9.1709 million CNY [2] - The Huaxia Industry Prosperity Mixed Fund, established on February 4, 2017, has a latest scale of 7.261 billion CNY, with a year-to-date return of 42.73% and a one-year return of 89.39% [2] Group 3 - The fund manager of Huaxia Industry Prosperity Mixed Fund is Zhong Shuai, who has been in the position for 5 years and 34 days, with a total asset scale of 8.253 billion CNY and a best fund return of 156.07% during his tenure [3] Group 4 - The Huaxia Industry Prosperity Mixed Fund holds Debang Lighting as its tenth largest heavy stock, with a net value proportion of 1.91% after reducing its holdings by 249.85 million shares [4]