Meeting Details - The shareholders' meeting of Opple Lighting Co., Ltd. was held on May 28, 2025, in Shanghai [1] - The meeting was convened by the board of directors and chaired by Mr. Wang Yaohai [1] - The voting method combined on-site and online voting, complying with the Company Law and Articles of Association [1] Voting Results - The first resolution was approved with 657,044,682 votes in favor, accounting for 99.8876% of the votes [1][2] - The second resolution received 641,166,499 votes in favor, representing 97.4737% [1] - The third resolution was approved with 641,372,779 votes in favor, which is 97.5051% [1] Shareholder Participation - The meeting included participation from ordinary shareholders and preferred shareholders with restored voting rights [1] - The voting results showed a high level of agreement among A-shareholders, with most resolutions passing with over 97% approval [1][3] Legal Compliance - The meeting's procedures were confirmed to be in compliance with relevant laws and regulations by the witnessing lawyers [5] - The legal opinions provided by the lawyers indicated that the qualifications of attendees and the voting process were valid [5]

欧普照明股份有限公司 章 程 二〇二五年五月 | | | 第一章 总则 1 第一条 为维护欧普照明股份有限公司(以下简称"公司")、股东和债权人的合法 权益, 规范公司的组织和行为, 根据《中华人民共和国公司法》(以下 简称"《公司法》")、《中华人民共和国证券法》(以下简称"《证券法》")、 《上海证券交易所股票上市规则》以及其他有关规定, 制订本章程。 第二条 公司系依照《公司法》《证券法》和其他有关规定成立的股份有限公司。 公司由欧普照明股份有限公司的全体发起人共同以发起方式设立的股 份有限公司, 在上海市市场监督管理局注册登记, 取得企业法人营业 执照，统一社会信用代码为：91310000680999558Q。 第三条 公司于 2016 年 7 月 21 日经中国证券监督管理委员会(以下简称"中国 证监会")批准, 首次向社会公众发行人民币普通股 5,800 万股, 于 2016 年 8 月 19 日在上海证券交易所(以下简称"证券交易所")上市。 第四条 公司注册名称：欧普照明股份有限公司 英文名称：OPPLE LIGHTING CO., LTD. 第五条 公司住所： 上海市浦东新区龙东大道 611 ...

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 (一) 股东大会召开的时间：2025 年 5 月 28 日 欧普照明股份有限公司 2024年年度股东大会决议公告 证券代码：603515 证券简称：欧普照明 公告编号：2025-027 (二) 股东大会召开的地点：上海市闵行区吴中路 1799 号万象城 V2 栋公司会 议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 188 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 657,783,502 | | 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 | 88.8315 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由欧普照明股份有限公司（以下简称"公司"）董事会召集， 会议由公司董事长王耀海先生主持，本次股东大会所采用的表 ...

S8 Vin Chena Road Middle 上海市通力律师事务所关于欧普照明股份有限公司 2024 年年度股东大会的法律意见书 致:欧普照明股份有限公司 上海市通力律师事务所(以下简称"本所")接受欧普照明股份有限公司(以下简称"公 司")的委托,指派本所夏青律师、韩宇律师(以下简称"本所律师")根据《中华人民共和国 公司法》《中华人民共和国证券法》等法律、法规和规范性文件(以下统称"法律法规")及 《欧普照明股份有限公司章程》(以下简称"公司章程")的规定就公司 2024年年度股东大 会(以下简称"本次股东大会")相关事宜出具法律意见。 本所律师已经对公司提供的与本次股东大会有关的法律文件及其他文件、资料予以了 核查、验证。在进行核查验证过程中,公司已向本所保证,公司提供予本所之文件中的所有 签署、盖章及印章都是真实的,所有作为正本提交给本所的文件都是真实、准确、完整和有 效的,且文件材料为副本或复印件的,其与原件一致和相符。 在本法律意见书中,本所仅对本次股东大会召集和召开的程序、出席本次股东大会人员 资格和召集人资格及表决程序、表决结果是否符合法律法规和公司章程的规定发表意见,并 不对本次股东大会 ...

Investment Rating - The report assigns an "Accumulate" rating to the company with a target price of 20.48 CNY [5][11]. Core Views - The company, as a leading player in the lighting industry, is expected to continue consolidating its market share due to its scale, technology, and brand advantages. High dividends are anticipated to provide ongoing returns to shareholders, supporting the recommendation to increase holdings [2][11]. Financial Summary - The company's projected revenues for 2024 are 7,096 million CNY, reflecting a year-on-year decrease of 9.0%. Net profit attributable to the parent company is expected to be 903 million CNY, down 2.3% year-on-year. The earnings per share (EPS) for 2025 is forecasted at 1.28 CNY, with a growth of 6% compared to the previous year [4][11]. - The company plans to distribute a cash dividend of 9 CNY per 10 shares for 2024, totaling 666 million CNY, which corresponds to a dividend payout ratio of 73.8% and a dividend yield of 5.02% [11]. Revenue Breakdown - In 2024, revenue from lighting application products and others is expected to be 7,033 million CNY, down 8.59% year-on-year. The gross margin for these products is projected at 39.08%, a decrease of 1.03 percentage points [11]. - Domestic revenue is anticipated to be 6,362 million CNY, down 8.57%, while international revenue is expected to be 671 million CNY, down 8.75% [11]. Profitability and Cost Structure - The company's gross margin for 2024 is projected at 39.29%, a decrease of 1.04 percentage points year-on-year. The net profit margin is expected to be 12.72%, an increase of 0.87 percentage points [11]. - The report details the expense ratios for sales, management, R&D, and financial costs, indicating slight variations compared to previous periods [11]. Market Performance - The current stock price is 18.29 CNY, with a 52-week price range of 13.82 to 20.30 CNY. The total market capitalization is 13,629 million CNY [6][11]. - The report notes the company's performance relative to the Shanghai Composite Index, indicating a 12-month absolute increase of 18% and a relative increase of 16% [10][11].

Investment Rating - The investment rating for the company is "Accumulate" [5][11]. Core Views - The company, as a leading player in the lighting industry, is expected to continue consolidating its market share due to its scale, technology, and brand advantages. High dividends are anticipated to continue rewarding shareholders, making it a favorable investment [2][11]. Financial Summary - **Revenue Forecast**: The company is projected to achieve revenues of CNY 7,096 million in 2024, a decrease of 9.0% year-on-year, followed by a recovery to CNY 7,552 million in 2025, representing a growth of 6.4% [4][11]. - **Net Profit**: The net profit attributable to the parent company is expected to be CNY 903 million in 2024, down 2.3% from the previous year, with a forecasted increase to CNY 955 million in 2025, reflecting a growth of 5.8% [4][11]. - **Earnings Per Share (EPS)**: EPS is projected to be CNY 1.21 in 2024, with an increase to CNY 1.28 in 2025 and further to CNY 1.38 in 2026 [4][11]. - **Return on Equity (ROE)**: The ROE is expected to be 13.4% in 2024, slightly decreasing to 12.7% in 2025, before recovering to 13.4% in 2027 [4][11]. Dividend Policy - The company plans to distribute a cash dividend of CNY 9 per 10 shares (including tax) in 2024, totaling CNY 666 million, with a payout ratio of 73.8% and a corresponding dividend yield of 5.02% [11]. Revenue Breakdown - In 2024, revenue from lighting application products and others is expected to be CNY 70.33 billion, down 8.59% year-on-year, while other businesses are projected to generate CNY 0.63 billion, a decline of 37.74% [11]. - Domestic revenue is anticipated to be CNY 63.62 billion, down 8.57%, while international revenue is expected to be CNY 6.71 billion, a decrease of 8.75% [11]. Profitability Metrics - The company's gross margin for 2024 is projected to be 39.29%, a decrease of 1.04 percentage points year-on-year, with a net profit margin of 12.72%, an increase of 0.87 percentage points [11].

Investment Rating - The report maintains a "Strong Buy" rating for the company, with a target price of 22.7 yuan per share [1]. Core Views - The company reported a decline in revenue and net profit for 2024, with total revenue of 7.1 billion yuan, a year-on-year decrease of 9.0%, and a net profit of 903 million yuan, down 2.3% [1][4]. - In Q1 2025, the company achieved revenue of 1.49 billion yuan, a decrease of 5.8% year-on-year, but net profit increased by 16.8% to 140 million yuan [1]. - The company plans to distribute a cash dividend of 0.9 yuan per share, totaling 666 million yuan, which corresponds to a dividend payout ratio of 73.8% [1]. Financial Summary - For 2024, the company expects total revenue of 7.1 billion yuan, with a projected growth rate of -9.0% [4]. - The net profit for 2024 is estimated at 903 million yuan, with a growth rate of -2.3% [4]. - The earnings per share (EPS) for 2024 is projected to be 1.21 yuan, with a price-to-earnings (P/E) ratio of 16 times [4]. - The company anticipates a gradual recovery in revenue growth, with estimates of 7.6 billion yuan in 2025, representing a growth rate of 7.5% [4]. Business Strategy - The company is focusing on product platform development and enhancing product competitiveness through innovation in smart lighting solutions [1]. - It aims to optimize retail channels and improve coverage and store productivity by aligning with trends in smart home and consumer scenarios [1]. - The company is also expanding its overseas business, targeting markets in the Middle East, Southeast Asia, and Africa, with a goal of achieving 670 million yuan in foreign sales for 2024 [1].

欧普照明股份有限公司 2024 年年度股东大会 （材料汇编） 2025 年 5 月 1 / 63 | 一、2024 年年度股东大会会议议程 3 | | | --- | --- | | 二、2024 年年度股东大会会议须知 5 | | | 三、2024 年年度股东大会股东问题函 7 | | | 四、会议议案 | | | （一）2024 年度董事会工作报告 | 8 | | （二）2024 年度监事会工作报告 15 | | | （三）关于董监事 2024 年度薪酬考核情况与 2025 年度薪酬计划的议案 | 20 | | 年度财务决算报告和 （四）2024 2025 年财务预算报告 21 | | | （五）2024 年年度报告及年度报告摘要 24 | | | （六）关于 2024 年年度利润分配的预案 25 | | | （七）关于 2025 年度申请银行授信额度的议案 26 | | | （八）关于 2025 年度使用部分闲置自有资金进行现金管理的议案 | 27 | | （九）关于 2025 年度授权对外担保额度的议案 28 | | | （十）关于预计 2025 年度日常关联交易的议案 30 | | | （十一）关于 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company, expecting it to outperform the benchmark index by over 20% in the next six months [1][14]. Core Views - The company reported a decline in revenue and net profit for 2024, with total revenue of 7.1 billion yuan, a year-on-year decrease of 9.0%, and a net profit of 903 million yuan, down 2.3% [1][4]. - For Q1 2025, the company achieved revenue of 1.49 billion yuan, a decrease of 5.8% year-on-year, but net profit increased by 16.8% to 140 million yuan [1]. - The company plans to distribute a cash dividend of 0.9 yuan per share, totaling 666 million yuan, with a payout ratio of 73.8%, up from 67.7% in 2023 [1]. Financial Performance Summary - In 2024, the company’s total revenue is projected to be 7.1 billion yuan, with a year-on-year growth rate of -9.0%. The net profit is expected to be 903 million yuan, with a growth rate of -2.3% [4]. - The company’s gross margin for 2024 is 39.3%, a decrease of 1.0 percentage points year-on-year. The net profit margin is projected to be 12.7%, an increase of 0.9 percentage points [8]. - The company’s earnings per share (EPS) for 2024 is estimated at 1.21 yuan, with a price-to-earnings (P/E) ratio of 16 [4][8]. Market and Business Strategy - The company is focusing on product platform development and enhancing product competitiveness through innovation in smart lighting solutions [1][8]. - The company is optimizing its retail channels by following trends in smart home and consumer scenario upgrades, aiming to improve coverage and store productivity [1][8]. - The company is also expanding its overseas business, promoting smart lighting solutions in regions such as the Middle East and Southeast Asia, with foreign sales expected to reach 670 million yuan in 2024, a decrease of 8.8% year-on-year [1][8].

Core Viewpoint - The announcement details the stock pledge by the controlling shareholder of Opple Lighting, indicating a significant portion of shares pledged without affecting the company's operational control or financial stability [1][3]. Group 1: Stock Pledge Details - The controlling shareholder, Zhongshan Opple Investment Co., Ltd., holds 348,214,286 shares, accounting for 46.73% of the company's total share capital [1]. - After the pledge, Zhongshan Opple and its concerted actors have pledged a total of 168,300,000 shares, which represents 26.89% of their holdings [1]. - The pledged shares do not involve guarantees for major asset restructuring or performance compensation [1]. Group 2: Shareholder Information - The total pledged shares by Zhongshan Opple and its concerted actions include 62,500,000 shares with a pledge ratio of 17.95% [2]. - Other shareholders, such as Wang Yaohai and Ma Xiuhui, have also pledged shares, contributing to a total of 625,972,136 shares pledged, which is 84.01% of their holdings [2]. - The controlling shareholder and concerted actors are reported to have good credit status and repayment capability, with no current risks of forced liquidation or transfer of shares [3]. Group 3: Impact on Company Operations - The stock pledge is stated to be within a controllable risk range and will not lead to changes in the actual control of the company [3]. - The company will continue to monitor the stock pledge situation and disclose relevant information as required [3].