Group 1 - The core point of the article is that Lida Xin (SH 605365) announced the convening of its third board meeting on October 27, 2025, to review the proposal for the third quarter report of 2025 [1] - For the year 2024, Lida Xin's revenue composition is reported to be 98.85% from the lighting business and 1.15% from other businesses [1] - As of the report, Lida Xin has a market capitalization of 8.6 billion yuan [1] Group 2 - The article also mentions a significant development regarding the private shipping tycoon taking over Shanshan Group, indicating potential complexities in the restructuring process [1]

证券代码：605365 证券简称：立达信 公告编号：2025-040 立达信物联科技股份有限公司 第三届董事会第二次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 立达信物联科技股份有限公司（以下简称"公司"）第三届董事会第二次会 议于 2025 年 10 月 27 日（星期一）在公司会议室以现场结合通讯的方式召开。 会议通知已于 2025 年 10 月 17 日通过邮件的方式送达各位董事。本次会议应出 席董事 9 人，实际出席董事 9 人。 本次会议由公司董事长李江淮先生主持，全体高级管理人员及证券事务代表 列席会议。会议召开符合有关法律、行政法规、部门规章、规范性文件和《公司 章程》的规定。 二、董事会会议审议情况 经各位董事认真审议，会议形成了如下决议： （一）审议通过《关于公司 2025 年第三季度报告的议案》 全体董事认真审议了公司 2025 年第三季度报告，并发表了如下书面确认意 见： 1、公司 2025 年第三季度报告的编制和审议程序符合相关法律法规和公司内 部管理制度 ...

Financial Performance - The company's operating revenue for the third quarter was ¥1,907,374,515.84, a decrease of 2.74% compared to the same period last year[4] - The total profit for the quarter was ¥74,170,317.34, reflecting a significant decline of 47.26% year-over-year[4] - The net profit attributable to shareholders was ¥58,147,301.55, down 55.18% from the previous year[4] - The basic earnings per share for the quarter was ¥0.116, a decrease of 55.04% compared to the same period last year[4] - Total operating revenue for the first three quarters of 2025 reached ¥4,946,522,423.01, a slight increase from ¥4,940,283,052.66 in the same period of 2024[21] - Net profit for the first three quarters of 2025 was ¥127,297,258.77, down from ¥278,877,682.09 in 2024, indicating a decline of about 54.3%[22] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.254, compared to ¥0.556 in the same period of 2024[23] - The total comprehensive income for the first three quarters of 2025 was ¥155,615,724.16, compared to ¥308,689,399.46 in 2024, indicating a significant decline of approximately 49.6%[23] Assets and Liabilities - The total assets at the end of the quarter were ¥6,526,125,595.21, a decrease of 2.25% from the end of the previous year[5] - The equity attributable to shareholders decreased by 1.53% to ¥3,728,234,970.77 compared to the end of the previous year[5] - The total liabilities as of September 30, 2025, are ¥2,724,175,576.59, compared to ¥2,573,805,227.36 as of December 31, 2024, indicating an increase in liabilities[17] - Total liabilities decreased to ¥2,797,890,624.44 in 2025 from ¥2,890,005,686.66 in 2024, showing a decline of approximately 3.2%[18] - Total equity attributable to shareholders decreased to ¥3,728,234,970.77 in 2025 from ¥3,786,166,553.65 in 2024, a decrease of about 1.5%[18] Cash Flow - The cash flow from operating activities for the year-to-date was ¥3,665,273.18, a dramatic decline of 96.16% year-over-year[4] - Cash generated from operating activities was ¥4,941,576,994.35 in 2025, an increase from ¥4,768,853,796.88 in 2024, reflecting a growth of approximately 3.6%[25] - Operating cash inflow totaled $5,588,542,395.51, an increase from $5,279,992,622.12 in the previous period[26] - Net cash outflow from operating activities was $3,665,273.18, a significant decrease from $95,547,554.76 in the prior period[26] - Cash and cash equivalents decreased from ¥826,923,979.50 to ¥710,113,957.41 over the reporting period[15] - The cash and cash equivalents at the end of the period stood at $691,755,687.02, down from $551,389,749.18[27] Inventory and Impairment - The company reported a significant increase in inventory impairment losses, contributing to the decline in profits[9] - Inventory increased significantly from ¥921,702,760.77 to ¥1,215,184,276.80 during the same period[16] Shareholder Information - The total number of ordinary shares at the end of the reporting period is 14,606[12] - The largest shareholder, Li Jianghuai, holds 121,500,000 shares, representing 24.20% of the total shares[12] - The company has no significant changes in the top 10 shareholders or their shareholding status compared to the previous period[13] Operational Insights - The company plans to focus on improving gross margins and managing inventory more effectively in the future[9] - The company reported no significant related party transactions or other important operational information during the reporting period[14] Other Financial Metrics - Non-recurring gains and losses for the quarter totaled ¥9,978,692.63, with government subsidies being a notable component[8] - Research and development expenses decreased to ¥239,076,333.76 in 2025 from ¥293,841,706.58 in 2024, a reduction of about 18.6%[22] - Other comprehensive income after tax for the first three quarters of 2025 was ¥28,318,465.39, slightly down from ¥29,811,717.37 in 2024[23] - Investment cash inflow amounted to $6,530,945,031.10, down from $8,715,770,549.16 year-over-year[26] - Net cash flow from investment activities was $145,410,049.79, recovering from a negative $456,076,600.57 in the previous period[26] - Financing cash inflow totaled $338,630,522.22, compared to $211,536,529.92 in the last period[27] - Net cash outflow from financing activities was $237,854,276.44, worsening from a loss of $44,911,243.20 previously[27] - Cash paid for purchasing goods and services was $4,112,682,367.06, up from $3,685,811,915.80[26] - Cash paid for employee compensation was $903,312,353.43, a decrease from $979,061,897.40[26]

Core Insights - The lighting equipment sector experienced a slight increase of 0.25% on October 24, with *ST Xingguang leading the gains [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance Summary - *ST Xingguang (002076) closed at 2.12, with a rise of 4.95% and a trading volume of 234,300 shares, amounting to approximately 49.62 million yuan [1] - Other notable stocks include: - Chufangyu (002724) at 7.93, up 1.41% [1] - Lidasin (605365) at 16.84, up 1.14% [1] - Hengtai Lighting (920339) at 10.49, up 0.87% [1] - Foshang Lighting (000541) at 6.41, up 0.79% [1] Capital Flow Analysis - The lighting equipment sector saw a net inflow of 5.70 million yuan from institutional investors, while retail investors experienced a net outflow of 8.27 million yuan [2] - The capital flow for key stocks includes: - *ST Xingguang with a net inflow of 18.34 million yuan from institutional investors [3] - Lianyu Co. (001326) with a net inflow of 6.30 million yuan from institutional investors [3] - Foshang Lighting (000541) with a net inflow of 2.98 million yuan from institutional investors [3]

Core Insights - The lighting equipment sector experienced a 1.46% increase on October 23, with Lida Xin leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index also rose by 0.22% to 13025.45 [1] Stock Performance Summary - Lida Xin (605365) closed at 16.65, up 3.93% with a trading volume of 123,100 shares and a turnover of 202 million yuan [1] - Other notable performers included: - Qinsong Co. (002638) at 2.82, up 2.17% [1] - Sanxiong Aurora (300625) at 12.35, up 2.15% [1] - OPPLE Lighting (603515) at 18.06, up 2.03% [1] - ST Xingguang (002076) at 2.02, up 2.02% [1] Capital Flow Analysis - The lighting equipment sector saw a net outflow of 9.95 million yuan from institutional investors and 22.77 million yuan from speculative funds, while retail investors contributed a net inflow of 32.72 million yuan [2] - Detailed capital flow for selected stocks included: - Sanxiong Aurora (300625) with a net outflow of 3.93 million yuan from institutional investors [3] - OPPLE Lighting (603515) had a net inflow of 260.97 million yuan from institutional investors [3] - Lida Xin (605365) experienced a net outflow of 1.35 million yuan from institutional investors [3]

Core Points - The company Leedarson IoT Technology Co., Ltd. will hold a performance briefing for the third quarter of 2025 on October 30, 2025, from 11:00 to 12:00 [2][3] - The briefing will be conducted in an interactive online format, allowing investors to engage and ask questions regarding the company's performance and financial indicators [4][6] - Investors can submit questions in advance from October 23 to October 29, 2025, through various methods including the Shanghai Stock Exchange Roadshow Center website and email [5][6] Meeting Details - Meeting Date and Time: October 30, 2025, from 11:00 to 12:00 [2][5] - Meeting Location: Shanghai Stock Exchange Roadshow Center and Value Online [2][5] - Participants: The meeting will include the Chairman, General Manager, and other key executives [5][6] Investor Participation - Investors can join the meeting online via the Shanghai Stock Exchange Roadshow Center or Value Online [6][7] - Pre-meeting questions can be submitted through the designated platforms or via email [6][7] Contact Information - Contact Person: Secretary of the Board, Mr. Xia Chengliang [7] - Contact Email: leedarsoniot@leedarson.com [7]

证券代码：605365 证券简称：立达信 公告编号：2025-039 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/）、价值在线（网址：www.ir-online.cn） 会议召开方式：网络互动方式 会议问题征集：投资者可于 2025 年 10 月 23 日（星期四）至 10 月 29 日（ 星期 三）1 6 : 0 0 前通 过以 下任意 一种方 式提前 向公 司进 行提问 ： 1、登录上证路演中心网站首页点击"提问预征集"栏目； 2、访问网址 https://eseb.cn/1swBVkIOf9C 或使用微信扫描下方小程序码进行 会前提问； 立达信物联科技股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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： 会议召开时间：2025 年 10 月 30 日（星期四）11:00-12:00 3、公司邮箱（leedarsoniot@leedarson. ...

Core Insights - The lighting equipment sector experienced a 1.0% increase on October 22, with *ST Xingguang leading the gains [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Sector Performance - The following companies in the lighting equipment sector showed notable performance: - *ST Xingguang: Closed at 1.98, up 4.76% with a trading volume of 395,700 shares and a turnover of 77.58 million yuan [1] - Yangguang Lighting: Closed at 3.72, up 2.48% with a trading volume of 358,800 shares and a turnover of 132 million yuan [1] - Lida Xin: Closed at 16.02, up 2.10% with a trading volume of 51,000 shares and a turnover of 8.07 million yuan [1] - OPPLE Lighting: Closed at 17.70, up 1.55% with a trading volume of 12,000 shares and a turnover of 2.11 million yuan [1] Capital Flow - The lighting equipment sector saw a net inflow of 21.11 million yuan from institutional investors, while retail investors experienced a net outflow of 0.51 million yuan [2][3] - The main capital flow for *ST Xingguang was a net inflow of 19.01 million yuan, accounting for 24.51% of the total [3] - Other companies like Lida Xin and OPPLE Lighting also had varying levels of net inflow and outflow from different investor categories [3]

Market Overview - The lighting equipment sector experienced a decline of 1.84% on October 17, with Greely leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Individual Stock Performance - Greely (code: 920641) closed at 20.19, down 7.09% with a trading volume of 48,300 and a turnover of 99.55 million [1] - Hengtai Lighting (code: 920339) closed at 9.84, down 4.19% with a trading volume of 660,696 and a turnover of 9.69 million [1] - Ocean King (code: 002724) closed at 7.35, down 4.17% with a trading volume of 128,100 and a turnover of 95.98 million [1] - Lida Xin (code: 605365) closed at 15.17, down 2.76% with a trading volume of 42,200 and a turnover of 64.74 million [1] - Min Explosive Optoelectronics (code: 301362) closed at 42.34, down 2.76% with a trading volume of 9,690 and a turnover of 41.99 million [1] - Foshan Lighting (code: 000541) closed at 6.17, down 2.22% with a trading volume of 100,700 and a turnover of 62.81 million [1] - Sunshine Lighting (code: 600261) closed at 3.52, down 1.95% with a trading volume of 156,100 and a turnover of 55.49 million [1] - Lianyu Co., Ltd. (code: 001326) closed at 52.42, down 1.84% with a trading volume of 14,400 and a turnover of 76.75 million [1] - Xiaosong Co., Ltd. (code: 002723) closed at 7.84, down 1.63% with a trading volume of 104,000 and a turnover of 81.92 million [1] - ST Xingguang (code: 002076) closed at 1.83, down 1.61% with a trading volume of 181,000 and a turnover of 33.53 million [1] Fund Flow Analysis - The lighting equipment sector saw a net outflow of 11.15 million from main funds, while retail investors had a net inflow of 8.17 million [1] - The main fund inflow and outflow for specific stocks include: - Min Explosive Optoelectronics: net inflow of 4.55 million from main funds, net outflow of 3.16 million from retail funds [2] - Qinsong Co., Ltd.: net inflow of 3.88 million from main funds, net outflow of 0.66 million from retail funds [2] - Lianyu Co., Ltd.: net inflow of 2.64 million from main funds, net inflow of 4.18 million from retail funds [2] - Sanxiong Aurora: net inflow of 0.97 million from main funds, net outflow of 1.83 million from retail funds [2] - Lida Xin: net outflow of 0.09 million from main funds, net inflow of 0.87 million from retail funds [2] - ST Xingguang: net outflow of 0.56 million from main funds, net inflow of 0.99 million from retail funds [2] - OPPLE Lighting: net outflow of 0.86 million from main funds, net inflow of 1.17 million from retail funds [2] - Debang Lighting: net outflow of 1.96 million from main funds, net inflow of 3.36 million from retail funds [2] - Ocean King: net outflow of 4.45 million from main funds, net inflow of 2.00 million from retail funds [2]

Market Overview - On October 14, the lighting equipment sector experienced a slight decline of 0.01% compared to the previous trading day, with Greely leading the drop [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Stock Performance - Notable gainers in the lighting equipment sector included: - Lianyu Co., Ltd. (001326) with a closing price of 50.74, up 1.70% on a trading volume of 22,500 shares and a turnover of 115 million yuan [1] - Lida Xin (605365) at 15.70, up 1.62% with 92,200 shares traded and a turnover of 147 million yuan [1] - Minbao Optoelectronics (301362) at 43.24, up 1.19% with a trading volume of 11,600 shares and a turnover of 49.66 million yuan [1] - Conversely, Greely (920641) saw a significant decline of 7.50%, closing at 20.72 with a trading volume of 50,200 shares and a turnover of 108 million yuan [2] - Other notable decliners included: - Xiaomatsu Co., Ltd. (002723) down 4.64% at 7.61 with a turnover of 231 million yuan [2] - Qinsong Co., Ltd. (002638) down 1.83% at 2.68 with a trading volume of 401,500 shares [2] Capital Flow - The lighting equipment sector experienced a net outflow of 57.54 million yuan from institutional investors, while retail investors saw a net inflow of 55.82 million yuan [2] - The detailed capital flow for selected stocks showed: - Lianyu Co., Ltd. had a net inflow of 18.05 million yuan from institutional investors, but a net outflow of 14.99 million yuan from retail investors [3] - *ST Xingguang (002076) had a net inflow of 2.24 million yuan from institutional investors [3] - Sunshine Lighting (600261) saw a net inflow of 1.61 million yuan from institutional investors [3]