证券之星消息，9月15日照明设备板块较上一交易日上涨0.88%，小崧股份领涨。当日上证指数报收于 3860.5，下跌0.26%。深证成指报收于13005.77，上涨0.63%。照明设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002723 | 小松股份 | 10.46 | 6.63% | 35.92万 | 3.66亿 | | 605365 | 立达信 | 17.01 | 5.19% | 10.37万 | 1.73亿 | | 002638 | 勤上股份 | 2.58 | 1.98% | 45.43万 | 1.16亿 | | 873339 | 恒太照明 | 10.46 | 0.10% | 7877.46 | 822.77万 | | 002076 | *ST星光 | 1.93 | 0.00% | 32.53万 | 6304.20万 | | 600261 | 阳光照明 | 3.58 | 0.00% | 20.36万 | 7247.49万 | | 300625 | 三雄极光 | ...

证券之星消息，9月10日照明设备板块较上一交易日上涨0.31%，得邦照明领涨。当日上证指数报收于 3812.22，上涨0.13%。深证成指报收于12557.68，上涨0.38%。照明设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603303 | 得邦貿明 | 14.73 | 3.51% | 5.53万 | 8147.25万 | | 002076 | *ST星光 | 1.95 | 2.09% | 42.10万 | 8099.61万 | | 002638 | 勤上股份 | 2.44 | 0.83% | 34.26万 | 8381.10万 | | 001326 | 联域股份 | 37.43 | 0.38% | 5018.0 | 1879.76万 | | 603515 | 欧普照明 | 17.74 | 0.34% | 1.01万 | 1777.81万 | | 600261 | 阳光照明 | 3.46 | 0.29% | 12.13万 | 4186.67万 | | 605365 ...

Market Performance - The lighting equipment sector increased by 1.49% on September 5, with Xiaosong Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Individual Stock Performance - Xiaosong Co., Ltd. (002723) closed at 9.79, with a rise of 10.00% and a trading volume of 434,400 shares, amounting to a transaction value of 414 million [1] - Other notable performers included Greer (831641) with a 6.01% increase, and Hengtai Lighting (873339) with a 3.42% increase [1] - The table of individual stock performance shows various companies with their respective closing prices, percentage changes, and trading volumes [1][2] Fund Flow Analysis - The lighting equipment sector saw a net inflow of 57.83 million from institutional investors, while retail investors experienced a net outflow of 15.00 million [2] - The detailed fund flow table indicates the net inflow and outflow for various companies within the sector, highlighting the dynamics of institutional versus retail investment [3] Stock-Specific Fund Flow - Xiaosong Co., Ltd. had a net inflow of 39.53 million from institutional investors, while it faced a net outflow of 39.80 million from retail investors [3] - Other companies like Sunshine Lighting (600261) and OPPLE Lighting (603515) also showed varied net inflows and outflows, reflecting the market's interest and investor behavior [3]

二、担保进展情况 1、融资授信情况 2025 年 9 月，公司控股子公司国海建设有限公司（以下简称国海建设）与 江西国控商业保理有限责任公司（以下简称江西国控保理）续签了《保理协议》 （以下简称主协议），协议约定国海建设将其与丰城煌润房地产开发有限公司签 署的关于"煌盛丰城商业街及住宅项目总包工程"的《煌盛丰城商业街及住宅项 目施工总承包工程补充协议书》中部分应收账款转让给江西国控保理，江西国控 保理向国海建设提供保理融资金额人民币 4,000 万元，期限为 6 个月。 证券代码：002723 证券简称：小崧股份 公告编号：2025-078 广东小崧科技股份有限公司 关于为子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 广东小崧科技股份有限公司（以下简称公司或小崧股份）分别于 2024 年 12 月 19 日、2025 年 1 月 8 日召开第六届董事会第十六次会议、第六届监事会第十 五次会议和 2025 年第一次临时股东大会，审议通过了《关于 2025 年度公司及子 公司提供担保额度预计的议案》，同意 2025 年 ...

证券代码：002723 证券简称：小崧股份 公告编号：2025-077 广东小崧科技股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 广东小崧科技股份有限公司（以下简称公司或小崧股份）分别于 2024 年 12 月 19 日、2025 年 1 月 8 日召开第六届董事会第十六次会议、第六届监事会第十 五次会议和 2025 年第一次临时股东大会，审议通过了《关于 2025 年度公司及子 公司提供担保额度预计的议案》，同意 2025 年度公司及合并报表范围内子公司 提供总额不超过人民币 127,000 万元的担保额度 （含公司对子公司、子公司之间）。 上述担保额度期限为自股东大会审批通过之日起 12 个月，在该担保额度有效期 内，担保累计额度可循环使用，任一时点的担保余额不得超过上述担保额度。 以上事项具体内容详见公司于 2024 年 12 月 20 日、2025 年 1 月 9 日在指定 信息披露媒体及巨潮资讯网（www.cninfo.com.cn）披露的《关于 2025 年度公司 及子公司提供担保额度预计的公告》（公告编号：202 ...

证券日报网讯 9月2日晚间，小崧股份发布公告称，公司及子公司未发生逾期担保和涉及诉讼的担保。 （文章来源：证券日报） ...

证券代码：002723 证券简称：小崧股份 公告编号：2025-077 广东小崧科技股份有限公司 关于为子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 广东小崧科技股份有限公司（以下简称公司或小崧股份）分别于 2024 年 12 月 19 日、2025 年 1 月 8 日召开第六届董事会第十六次会议、第六届监事会第十 五次会议和 2025 年第一次临时股东大会，审议通过了《关于 2025 年度公司及子 公司提供担保额度预计的议案》，同意 2025 年度公司及合并报表范围内子公司 提供总额不超过人民币 127,000 万元的担保额度（含公司对子公司、子公司之间）。 上述担保额度期限为自股东大会审批通过之日起 12 个月，在该担保额度有效期 内，担保累计额度可循环使用，任一时点的担保余额不得超过上述担保额度。 以上事项具体内容详见公司于 2024 年 12 月 20 日、2025 年 1 月 9 日在指定 信息披露媒体及巨潮资讯网（www.cninfo.com.cn）披露的《关于 2025 年度公司 及子公司提供担保额度 ...

Group 1 - The company reported a significant decline in revenue and net profit for the first half of 2025, with operating income of 564 million yuan, down 29.04% year-on-year, and a net loss attributable to shareholders of 34.93 million yuan, a staggering drop of 984.31% [1] - The decline in performance is attributed to two main business segments: the home appliance segment generated 447 million yuan, a decrease of 13.02%, with traditional products like rechargeable lighting fixtures and fans seeing reductions of 11.21% and 10.73% respectively, while the electronic cigarette business plummeted by 54.57% [1] - The engineering construction segment's revenue fell to 117 million yuan, down 58.36%, with gross margin shrinking by 16.33 percentage points to 2.67% [1] Group 2 - As of June 30, 2025, the company had total interest-bearing liabilities of 496 million yuan, with short-term loans accounting for 68.3% at 339 million yuan and long-term loans at 107 million yuan, in addition to 50 million yuan of debt due within one year [2] - The subsidiary Guohai Construction is a major source of debt, with bank loans of 207 million yuan and non-bank financing of 230 million yuan, totaling 437 million yuan, which represents 88.1% of the total debt, with 88.4% of the debt maturing within one year [2] - The company's operating cash flow turned negative, shifting from a net inflow of 159 million yuan in the previous year to an outflow of 28.94 million yuan [2]

Core Viewpoint - Xiaosong Co., Ltd. (002723) reported a significant decline in financial performance for the first half of 2025, with net profit dropping by 984.31% year-on-year, indicating severe operational challenges and financial instability [1] Financial Performance Summary - Total revenue for the first half of 2025 was 564 million yuan, a decrease of 29.04% compared to 794 million yuan in the same period of 2024 [1] - The net profit attributable to shareholders was -34.93 million yuan, a drastic decline from a profit of 3.95 million yuan in the previous year [1] - The gross margin fell to 10.19%, down 43.3% from 17.97% in 2024, while the net margin turned negative at -5.8%, a decrease of 472.92% [1] - Operating cash flow per share was -0.09 yuan, a decline of 118.19% from 0.5 yuan in the previous year [1] Changes in Financial Items - Cash and cash equivalents decreased by 57.18% due to increased payments for goods [3] - Accounts receivable increased by 6.24%, attributed to intensified collection efforts [3] - Short-term borrowings rose by 14.5% due to increased short-term loans from banks [4] - Other receivables decreased by 25.84% due to the recovery of equity exit payments [5] - Accounts payable decreased by 13.65% as a result of increased payments for goods [6] - Other payables dropped by 49.98% due to the repayment of certain payables [7] Expense Analysis - Sales expenses decreased by 57.63% due to reduced product promotion costs and a decrease in sales personnel [8] - Financial expenses fell by 46.87% as projected financing gains from the Poyang PPP project were not realized [9] - Income tax expenses decreased by 49.53% due to reduced profits, leading to lower tax provisions [10] Cash Flow Analysis - Net cash flow from operating activities decreased by 118.19% due to reduced collections and increased payments [10] - Net cash flow from investing activities increased by 134.34% due to the recovery of prior investment funds [10] - Net cash flow from financing activities increased by 52.99% as repayments of due loans decreased compared to the previous period [10] Business Evaluation - The company's historical financial performance shows a median ROIC of 1.82% over the past decade, indicating weak investment returns, with the worst year being 2018 at -10.89% [11] - The company has reported losses in three out of ten annual reports since its listing, suggesting a fragile business model [11] Financial Health Indicators - The ratio of cash and cash equivalents to current liabilities stands at 10.28%, indicating potential liquidity issues [11] - Financial expenses have reached 367.85% of the average operating cash flow over the past three years, raising concerns about financial sustainability [11]

Group 1 - The company reported a revenue of 564 million yuan for the first half of 2025, representing a year-on-year decline of 29.04% [1] - The net profit attributable to shareholders of the listed company was -34.93 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -40.73 million yuan [1] - The basic earnings per share were -0.1098 yuan [1]