Core Viewpoint - The article highlights the successful organization of the "Beautiful Foshan, Moving Forward" 50-kilometer walking event, showcasing Foshan Lighting's active participation and commitment to promoting a green, low-carbon lifestyle while enhancing its brand visibility and community engagement [1][3]. Group 1: Event Overview - The Foshan 50-kilometer walking event has been held successfully for eight years since 2015, attracting over one million participants from both domestic and international backgrounds, establishing itself as a significant cultural tourism event in Foshan and the Greater Bay Area [3]. - Foshan Lighting participated in the event by organizing a corporate team and setting up exhibition booths, demonstrating its commitment to the FAITH business philosophy and promoting its corporate values [1][3]. Group 2: Community Engagement - The event featured interactive activities with the brand image IP "Dazheng," designed to engage with the public and promote the company's initiatives [3][4]. - Foshan Lighting provided educational information on energy-efficient lighting products and introduced a "trade-in" policy, along with a "National Subsidy Renewal" welfare program to benefit the community [6]. Group 3: Cultural Integration - Foshan Lighting has been actively involved in local cultural activities, aiming to integrate its brand with the rich cultural heritage of Foshan, thereby enhancing its image as a "value creator in lighting" and a "provider of beautiful lighting experiences" [8]. - The company aspires to become a leading enterprise in the lighting industry, continuously striving towards its goal with a focus on innovation and community service [8].

Core Viewpoint - The deep-sea lighting system developed by Foshan Electrical and Lighting Co., Ltd. has significantly enhanced the detection range and precision target search capabilities of China's manned submersible "Jiaolong" following its recent upgrades [1][2][3] Group 1: Technological Advancements - The deep-sea lighting system is crucial for submersibles, acting as their "eyes" in the challenging underwater environment characterized by fluctuating temperatures, immense pressure, and corrosive seawater [1][2] - The upgraded lighting system for "Jiaolong" was developed through close collaboration between Foshan Lighting's technical team and the National Deep Sea Base Management Center, focusing on strict underwater imaging requirements [2][3] Group 2: Engineering Features - The deep-sea lights utilize pressure compensation technology to withstand underwater pressures, withstanding depths of up to 10,500 meters [3] - The lights underwent multiple static pressure tests to ensure durability in extreme deep-sea conditions, and they feature anti-corrosion coatings to enhance resistance [3] Group 3: Collaborative Research - Foshan Lighting has established a joint laboratory with the Chinese Academy of Sciences' Deep Sea Research Institute, focusing on research and development across various fields including optics, electricity, heat, structure, processing, and materials [2][3] - The laboratory has developed 10,000-meter-level LED deep-sea lighting equipment, which has been applied in other manned submersibles like "Fendouzhe" and "Shenhai Yongshi," contributing to advancements in China's deep-sea scientific research [2][3]

Core Viewpoint - The signing and unveiling ceremony of the Rail Transit Intelligent Lighting Joint Innovation Center was held, focusing on collaboration in smart, healthy, green, low-carbon, energy-saving, safe, and energy-related fields [1] Group 1: Company Collaboration - China Railway Shanghai Design Institute Group Co., Ltd. and Foshan Lighting are collaborating to create a cooperative innovation platform [1] - The partnership aims to enhance the application scenarios of lighting business and accelerate the transformation and application of rail transit lighting achievements [1] Group 2: Industry Development - The initiative is expected to inject new momentum into the high-quality development of the industry and the cultivation of new productive forces [1] - The focus on low-carbon and energy-saving solutions aligns with current industry trends towards sustainability and innovation [1]

国泰君安证券股份有限公司 关于佛山电器照明股份有限公司 预计 2025 年度日常关联交易的核查意见 （一）日常关联交易概述 2025 年，预计公司及控股子公司与相关关联方发生购买原材料、商品或服 务、销售产品或服务等日常关联交易总金额不超过 16,820 万元。2024 年，公司 及控股子公司与关联方实际发生的日常关联交易总金额为 4,674 万元。 2025 年 2 月 26 日，公司召开第十届董事会第六次会议，会议以同意 6 票、 反对 0 票、弃权 0 票审议通过了《关于预计 2025 年度日常关联交易的议案》， 关联董事庄坚毅、胡逢才、李泽华回避了表决。 此项议案在董事会权限范围内，无需提交公司股东大会审议。 （二）2025 年度预计关联交易类别和金额 1 关联交 易类别 关联人 关联交 易内容 关联交易 定价原则 合同签订金额 或预计金额 截至披露 日已发生 金额 上年发生 金额 向关联 人采购 原材 料、商 品、服 务 广东省广晟控股集团有限公司及其他 子公司 购买原 材料、 商品、 服务 参照市场 价格 5,850 102 639 广东风华高新科技股份有限公司及其 控股子公司 2,410 175 ...

股票简称：佛山照明（A 股） 粤照明 B（B 股） 股票代码：000541 （A 股） 200541（B 股） 公告编号：2025-011 佛山电器照明股份有限公司 关于预计 2025 年度日常关联交易的公告 此项议案在董事会权限范围内，无需提交公司股东大会审议。 （二）2025 年度预计关联交易类别和金额 - 1 - 单位：万元 关联交 易类别 关联人 关联交 易内容 关联交易 定价原则 合同签订金额 或预计金额 截至披露日 已发生金额 上年发生 金额 向关联 人采购 原材 料、商 品、服 务 广东省广晟控股集团有限公司及其他子 公司 购买原 材料、 商品、 服务 参照市场 价格 5,850 102 639 广东风华高新科技股份有限公司及其控 股子公司 2,410 175 688 广东华建企业集团有限公司及其控股子 公司 1,700 23 401 广东省广晟置业集团有限公司及其控股 子公司 1,500 137 468 佑昌灯光器材有限公司及其控股子公司 100 4 - 小计 11,560 441 2,196 | | 广东风华高新科技股份有限公司及其控 股子公司 | | | 2,000 | 0 | 1,082 ...

股票简称：佛山照明（A 股） 粤照明 B（B 股） 股票代码：000541 （A 股） 200541（B 股） 公告编号：2025-010 佛山电器照明股份有限公司 关于使用部分闲置资金进行委托理财的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 本公司于 2025 年 2 月 26 日召开第十届董事会第六次会议，会议 审议通过了《关于使用部分闲置资金进行委托理财的议案》，公司董 事会同意公司及控股子公司（含佛山市国星光电股份有限公司，下同） 使用不超过 25 亿元人民币自有闲置资金（不含募集资金）购买低风 险的委托理财产品，在上述额度内，资金可以循环使用，投资期限为 本议案经公司董事会审议通过之日起一年内。 根据相关法律法规、规范性文件及《公司章程》的规定，本次使 用部分闲置资金进行委托理财事项属董事会审批权限，无需提交公司 股东大会审议。 2、针对投资风险，拟采取以下措施 一、进行委托理财情况概述 1、投资目的：为了提高闲置资金的使用效率，在不影响公司及 控股子公司正常经营及风险可控的前提下，利用部分自有闲置资金 （不含募集资金）购买低风险的委托理财产品 ...

股票简称：佛山照明（A 股） 粤照明 B（B 股） 股票代码：000541 （A 股） 200541（B 股） 公告编号：2025-009 佛山电器照明股份有限公司 第十届董事会第六次会议决议公告 2、审议通过《关于预计 2025 年度日常关联交易的议案》。 同意 6 票，反对 0 票，弃权 0 票 关联董事庄坚毅、胡逢才、李泽华依法回避对该议案的表决。 本议案已经公司第十届董事会独立董事专门会议第一次会议审 - 1 - 议通过。保荐人出具了无异议的核查意见。详细内容请见同日刊登于 巨潮资讯网的《关于预计 2025 年度日常关联交易的公告》。 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 本公司于 2025 年2 月 20 日以电子邮件的方式向全体董事发出了 会议通知，并于 2025 年 2 月 26 日召开第十届董事会第六次会议，会 议以书面传真方式召开，应会 9 名董事均对会议议案作出表决，符合 《公司法》和《公司章程》的有关规定。会议审议通过了如下议案： 1、审议通过《关于使用部分闲置资金进行委托理财的议案》。 同意 9 票，反对 0 票，弃权 0 票 在 ...

股票简称：佛山照明（A 股） 粤照明 B（B 股） 股票代码：000541 （A 股） 200541（B 股） 公告编号：2025-008 佛山电器照明股份有限公司 关于控股股东之一致行动人增持股份计划时间过半 的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 公司于 2024 年 11 月 20 日在巨潮资讯网披露了《关于控股股东 之一致行动人增持公司股份计划暨获得增持资金贷款支持的公告》， 广东省电子信息产业集团有限公司（以下简称"电子集团"）计划自 披露增持公告之日（2024 年 11 月 20 日）起 6 个月内，通过证券交 易所集中竞价交易或大宗交易等合法方式增持公司股份。 截止本公告披露日，本次增持计划实施期限已过半。公司于 2025 年 2 月 19 日收到电子集团发来的《关于增持佛山照明股份计划时间 过半的告知函》。现将本次增持计划进展情况公告如下： 一、增持计划的主要内容 1、增持股份的目的 基于对公司未来发展前景的信心以及价值的认可。 2、增持股份的金额及比例 电子集团本次拟增持股份金额不低于人民币 3,600 万元，不超过 人民币 ...

Investment Rating - The report initiates coverage with an "Accumulate" rating for Foshan Lighting [7][8]. Core Views - Foshan Lighting has been a leading player in the domestic lighting industry for over 60 years, expanding its business into new areas such as smart, health, marine, airport, and sports lighting through acquisitions [7][8]. - The company is expected to achieve revenue growth from 94.65 billion yuan in 2024 to 112.65 billion yuan in 2026, with corresponding net profit estimates of 4.33 billion yuan and 4.38 billion yuan for the same years [7][8]. - The report highlights the company's strategic acquisitions, including Nanning Liaowang and Guoxing Optoelectronics, which enhance its competitive position in the automotive lighting sector and the overall LED industry [7][8]. Summary by Sections 1. Company Background and Growth Strategy - Foshan Lighting, established in 1958, has evolved into a top-tier enterprise in the lighting industry, focusing on vertical and horizontal integration to enhance its market presence [7][8]. - The company has made significant acquisitions to cover the entire LED industry chain, from chip manufacturing to application [7][8]. 2. Financial Performance and Forecast - For 2023, Foshan Lighting reported total revenue of 90.57 billion yuan, a year-on-year increase of 3.39%, and a net profit of 2.90 billion yuan, up 26.03% [22]. - The forecast for 2024-2026 indicates a revenue growth rate of 4.5%, 8.5%, and 9.7%, respectively, with net profit growth rates of 49.2%, -15.3%, and 19.4% [7][8]. 3. Market Position and Competitive Landscape - The LED lighting market in China is expected to grow from 6,813 billion yuan in 2022 to 7,386 billion yuan by 2026, with Foshan Lighting holding a market share of 1.30% as of 2022 [7][8]. - The report notes that the competitive landscape is fragmented, with Foshan Lighting ranked third among the top players in the industry [50]. 4. Strategic Acquisitions and New Business Areas - The acquisition of Nanning Liaowang has allowed Foshan Lighting to rapidly expand its automotive lighting business, which is experiencing high growth due to the increasing penetration of electric vehicles [7][8]. - The company is also investing in new business areas such as smart lighting and marine lighting, which are expected to contribute to long-term growth [7][8].

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [6]. Core Views - The company is expected to achieve a net profit attributable to shareholders of 400-470 million yuan in 2024, representing a year-on-year increase of 37.76%-61.87%. However, the non-recurring net profit is projected to decline by 63.43%-75.62% [1]. - The rapid growth in the automotive lighting module business is noted, while the general lighting business faces pressure due to weak market demand and pricing challenges [2]. - The company anticipates goodwill impairment of approximately 130-160 million yuan related to the acquisition of Guoxing Optoelectronics, which has underperformed [2]. - The successful transfer of a land parcel is expected to contribute approximately 295 million yuan in non-recurring net income for 2024, with further positive contributions anticipated in 2025-2026 [2]. Financial Data and Valuation - Revenue is projected to grow from 8,759.97 million yuan in 2022 to 11,546.58 million yuan in 2026, with a compound annual growth rate (CAGR) of approximately 8.80% [4]. - The net profit attributable to shareholders is expected to increase from 230.39 million yuan in 2022 to 638.27 million yuan in 2026, reflecting a significant growth trajectory [4]. - The price-to-earnings (P/E) ratio is forecasted to decrease from 35.23 in 2022 to 14.34 in 2026, indicating an improving valuation over time [4]. Business Strategy - The company is actively expanding its lighting portfolio, including acquisitions in the automotive lighting sector and focusing on smart street lighting and marine lighting [3]. - Collaborations with major automotive manufacturers such as Li Auto, Changan, BAIC, and Geely are established to enhance production capacity in the automotive lighting segment [3]. - The company is pursuing mergers and acquisitions to integrate upstream LED packaging, aiming to increase market share through economies of scale [3].