Core Insights - Lida Xin (605365) reported a slight increase in revenue for the first three quarters of 2025, reaching 4.947 billion yuan, a year-on-year growth of 0.13%, while total profit decreased significantly by 49.53% to 145 million yuan [1] - The company faced challenges in the second quarter due to international trade fluctuations, low industry demand, and intensified competition, leading to a sharp decline in profits [1] - In response to U.S. tariff policies, Lida Xin accelerated its "transit to Thailand" process, resulting in increased costs that impacted the first half of the year [1] - The third quarter saw a substantial recovery in net profit, reaching 58.1473 million yuan, indicating a gradual improvement in performance [1] Financial Performance - For the first three quarters of 2025, Lida Xin's management, sales, and R&D expenses collectively decreased by 1.44% year-on-year, showcasing the company's strong operational resilience and refined management capabilities [1] - Despite the short-term pressures from accelerated capacity expansion in Thailand, the strategic layout established since 2021 has provided a solid foundation for rapid capacity enhancement [1] Strategic Outlook - The construction of production capacity in Thailand is viewed as a proactive response to current challenges and a long-term strategic move to build a more resilient and competitive global supply chain [2] - The company aims to maintain a dual strategy of "brand OEM and dual circulation" domestically and internationally, focusing on structural adjustments and efficiency improvements to achieve sustainable high-quality development [2]

Core Insights - The company reported a slight increase in revenue for the first three quarters of 2025, with a total of 4.947 billion yuan, representing a year-on-year growth of 0.13% [1] - However, the net profit attributable to shareholders saw a significant decline of 54.35%, amounting to 127 million yuan, while the net profit excluding non-recurring items dropped by 60.87% to approximately 91.94 million yuan [1] - The basic earnings per share for the reporting period was 0.25 yuan, with a weighted average return on equity of 3.38% [1] Financial Performance - The gross margin for the first three quarters of 2025 was 26.32%, down by 2.37 percentage points year-on-year, while the net margin decreased by 3.07 percentage points to 2.57% [1] - In Q3 2025, the gross margin was 26.31%, showing a year-on-year decline of 1.20 percentage points but a quarter-on-quarter increase of 0.37 percentage points; the net margin was 3.05%, down 3.57% year-on-year but up 3.02% from the previous quarter [1] Expense Analysis - Total operating expenses for the company in Q3 2025 were 1.108 billion yuan, a decrease of 28.88 million yuan compared to the same period last year, with an expense ratio of 22.41%, down by 0.61 percentage points year-on-year [2] - Sales expenses decreased by 0.99%, while management expenses increased by 8.95%; R&D expenses fell by 18.64%, and financial expenses saw a dramatic reduction of 1014.54% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 14,600, an increase of 2,027 from the end of the previous half-year, representing a growth of 16.11% [2] - The average market value held per shareholder decreased from 587,900 yuan at the end of the previous half-year to 520,400 yuan, a decline of 11.48% [2] Company Overview - The company, established on April 7, 2015, and listed on July 20, 2021, is located in Xiamen, Fujian Province, and specializes in the research, manufacturing, sales, and service of IoT products, including LED lighting, smart home, and smart building solutions [2] - The revenue composition includes 64.10% from lighting products and accessories, 25.14% from IoT products and accessories, 8.04% from home appliances and accessories, and 1.56% from other products [2] - The company belongs to the household appliances industry, specifically in the lighting equipment sector, and is associated with concepts such as small-cap stocks, overseas expansion, cross-border e-commerce, IoT, and artificial intelligence [2]

Core Viewpoint - Lida Xin (605365.SH) reported a slight increase in total operating revenue for the first three quarters of 2025, but a significant decline in net profit attributable to shareholders [1] Financial Performance - Total operating revenue reached 4.947 billion yuan, reflecting a year-on-year growth of 0.13% [1] - Net profit attributable to shareholders was 127 million yuan, showing a year-on-year decrease of 54.35% [1] - Basic earnings per share stood at 0.254 yuan [1]

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. ...