Group 1 - The core viewpoint is that the aging lighting market is an emerging opportunity for LED lighting companies, but the penetration rate of specialized aging lighting modifications is currently below 5% in China, facing challenges such as a lack of standards [3][6][7] - The "silver economy" market, which is valued in trillions, is increasingly recognized, with the elderly population in China projected to exceed 300 million by 2024, accounting for 22% of the total population [4][6][7] - Companies are shifting from price competition to developing high-value-added products, with smart lighting, human-centric lighting, and health lighting being key development directions [3][4] Group 2 - Major LED companies, including Mulinson and Foshan Lighting, are experiencing varying degrees of performance decline due to external trade environment changes and industry price drops [4][5] - The integration of AI technology into aging lighting solutions is seen as a new opportunity, with companies like Signify launching products that monitor elderly individuals' safety [4][5] - The current lack of standards for aging lighting leads to the prevalence of "pseudo-aging lighting products," highlighting the need for research and development of appropriate lighting formulas based on the physiological needs of the elderly [6][7][8] Group 3 - The aging population presents unique physiological challenges, such as reduced light transmission in the eyes, necessitating tailored lighting solutions to enhance safety and well-being [7][8] - The market for home modifications for the elderly is estimated to be worth 3 trillion yuan, yet the penetration of specialized lighting modifications remains low [7][8] - A proposed solution involves creating a "medical-industry-policy" triangle to establish clinical databases and develop dynamic lighting formulas that cater to various health conditions [8]

特别提示： 证券代码：002745 证券简称：木林森 公告编号：2025-020 木林森股份有限公司 2024年年度股东大会决议公告 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。 1、本次股东大会无变更、取消、否决提案的情况； 2、本次股东大会以现场投票与网络投票相结合方式召开； 3、本次股东大会不涉及变更前次股东大会决议。 一、会议召开情况 1、会议召开时间： （1）现场会议召开时间：2025 年 5 月 20 日（星期二）15:00； （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为： 2025 年 5 月 20 日 9:15--9:25，9:30--11:30 及 13:00--15:00；通过深圳证券交 易所互联网投票系统投票的时间为：2025 年 5 月 20 日上午 9:15 至下午 15:00 的任意时间； 2、现场会议召开地点：广东省中山市小榄镇木林森大道 1 号木林森股份有 限公司办公大楼一楼会议室； 3、会议召开方式：本次股东大会采取现场表决和网络投票相结合方式； 4、会议召集人：木林森股份有限公司董事会； 5、会议主持 ...

上海市锦天城（深圳）律师事务所 法律意见书 上海市锦天城（深圳）律师事务所 关于木林森股份有限公司 二〇二四年年度股东大会的 法律意见书 上海市锦天城（深圳）律师事务所 法律意见书 上海市锦天城（深圳）律师事务所 关于木林森股份有限公司 二〇二四年年度股东大会的法律意见书 致：木林森股份有限公司 上海市锦天城（深圳）律师事务所（下称"本所"）接受木林森股份有限公司 （下称"公司"）的委托，指派律师出席公司 2024 年年度股东大会（下称"本次股 东大会"），并根据《中华人民共和国公司法》（下称"《公司法》"）、《上市 公司股东会规则》（下称"《股东会规则》"）等法律、法规和规范性文件及公司 现行章程（下称"《公司章程》"）的有关规定，就本次股东大会的召集和召开程 序、召集人资格、出席和列席会议人员资格、表决程序及表决结果等事宜发表法 律意见。 一、本次股东大会召集和召开程序 为召开本次股东大会，公司董事会于 2025 年 4 月 25 日在指定的信息披露媒 体上公告了会议通知。该通知载明了会议的召开方式、召开时间和召开地点，对 会议议题的内容进行了充分披露，说明了股东有权出席并可委托代理人出席和行 使表决权， ...

Core Viewpoint - The demand for UV lamps has surged post-COVID-19, driven by increased hygiene awareness in medical institutions, public places, and various industries, leading to significant market growth in China [1][13]. Industry Overview - UV lamps, short for ultraviolet lamps, are gas discharge lamps that produce UV radiation through ion discharge in a vacuum quartz tube containing high-purity mercury [2]. - The main types of UV lamps include metal halide lamps, mercury vapor lamps, xenon lamps, induction lamps, and UV LED lamps, with UV mercury lamps and UV LED sources being the most prevalent in the market [3]. Development Background - The COVID-19 pandemic has heightened public focus on health, resulting in rapid growth in the demand for UV lamps for disinfection in homes, schools, and commercial spaces [5]. - Technological advancements in the UV lamp industry, such as the development of UV-C LED technology, have significantly improved efficiency, stability, and lifespan while reducing production costs [5]. Industry Chain - The UV lamp industry consists of an upstream segment (raw materials like mercury and quartz glass), a midstream segment (manufacturing), and a downstream segment (application markets including printing, electronics, and healthcare) [7][9]. - Raw material costs account for over 60% of production costs, necessitating strong partnerships with upstream suppliers to ensure stable supply and cost control [9]. Market Demand - The printing and coating sectors are the largest consumers of UV lamps, accounting for over 50% of the market, with the printing sector alone representing more than 30% [11]. - The UV ink market in China has seen rapid growth, with production and demand reaching 128,200 tons and 126,000 tons respectively in 2023, providing substantial growth opportunities for the UV lamp industry [11]. Competitive Landscape - The UV lamp market in China features numerous participants, including international brands like Philips and OSRAM, and domestic companies such as Nanjing Huachang Electronics and Guangdong Xingguang Development [16]. - Domestic companies leverage technological advancements, cost advantages, and localized services to establish a significant presence in the market [16]. Company Analysis - Guangdong Xingguang Development Co., Ltd. reported a total revenue of 192 million yuan in 2024, with UV sterilization lamp sales contributing 29 million yuan, or 14.97% of total revenue [19]. - Xuyu Optoelectronics (Shenzhen) Co., Ltd. achieved a total revenue of 311.9862 million yuan in 2024, with various product categories including UV light sources [21]. Future Trends - The UV-C LED technology is expected to become mainstream due to its efficient sterilization properties, low energy consumption, and long lifespan [23]. - Companies are focusing on developing differentiated products tailored to specific applications, such as smart sensing solutions for medical environments and quiet designs for household use [23].

| 6、问：请问对新航科技的收购大约多久能完成呢？ | | --- | | 答：尊敬的投资者，您好！您提及的事项及项目若有进 | | 展，将按照相关规定进行审议并及时披露，敬请留意公 | | 司公告。感谢您的关注与支持！ | | 7、问：请问公司有回购计划吗？如果没有，公司可以拿 | | 出几个亿分红，为何不愿意拿出几千万来回购呢？证监 | | 会鼓励有能力的公司回购自家股票，我们木林森股份是 | | 没有能力拿出这些钱么？还是说公司压根就不关心公 | | 司在资本市场的表现！ | | 答： 尊敬的投资者，您好！公司将持续深耕主业、强化 | | 研发与市场拓展以做强、做优、做大优势主业，并通过 | | 优化治理、高质量信息披露增强价值传递及投资者互 | | 动，若有回购或股东增持计划将及时公告。感谢您对公 | | 司的关注！ | | 8、问：公司 2024 年度分配预案为拟向全体股东每 10 | | 股派现 0.5 元（含税）。请问公司是基于怎样的财务状 | | 况和发展战略考虑制定这样的分红方案的？ | | 答：您好！公司遵循关于分红的相关政策法规，综合考 | | 量公司股本规模、盈利水平、投资规划及现金流 ...

阳光照明（600261.SH）今年4月在年报中透露，2024年年底，其泰国工厂已开启向美国出口灯具的业 务。目前，其泰国工厂已具备年产500万套出口美国灯具的生产能力。此外，阳光照明2024年与越南照 明合作方合作的出口至美国的灯具产品金额已近千万美元。阳光照明2024年在北美洲的营收达8.97亿 元，同比增长14.89%。 与此同时，中国LED照明企业在东南亚、墨西哥等地建设海外工厂的步伐没有停止，全球化布局持续推 进。 广东光亚照明研究院常务副院长兼首席研究员温其东告诉第一财经记者，此次关税调整后，90天内，中 国LED光源出口到美国的关税是在基础关税之上增加30%，LED照明灯具出口到美国的关税是在基础关 税之上增加55%，总体关税在30%-67.5%之间，比过去一个月大幅降低。受此影响，现在中国对美国出 口的LED照明产品正在重新出货。 温其东预计，今后美国关税目前，中国出口美国LED照明产品转到东南亚生产较多，少数转移到墨西哥 生产。他预计，更多中国照明企业将在海外布局产能，从"产品出海"迈向"产业链出海"。 有向美国市场出口照明产品的鸿兴创谷的创始人邓秋平，对美国关税调整的消息表示"高兴"。 光配 ...

证券代码：002745 证券简称：木林森 公告编号：2025-019 木林森股份有限公司 关于举行2024年度网上业绩说明会的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，公告不存在虚假记载、误导性 陈述或者重大遗漏。 出席本次网上说明会的人员有：董事长孙清焕先生、财务总监兼董事会秘书李冠群先生、 独立董事米哲先生。 敬请广大投资者积极参与。 特此公告。 木林森股份有限公司 董事会 为便于广大投资者进一步了解公司2024年年度经营情况，公司定于2025年05月16日（星期 五）下午15:00至17:00时在"约调研"小程序举行2024年度网上业绩说明会。本次网上业绩说 明会将采用网络远程的方式举行，投资者可登陆"约调研"小程序参与互动交流。为广泛听取 投资者的意见和建议，提前向投资者征集问题，提问通道自发出公告之日起开放。 参与方式一：在微信小程序中搜索"约调研"； 参与方式二：微信扫一扫以下二维码： 投资者依据提示，授权登录"约调研"小程序，即可参与交流。 木 林 森 股 份 有 限 公 司 （ 以 下 简 称 " 公 司 "） 已 于 2025 年 4 月 25 日 在 巨 潮 资 讯 网 （ ...

尽管公司在年报中强调，薪酬调整是基于公司整体业绩和高管个人贡献的综合考量，但投资者对此并不 买账。尤其是在公司净利润连续两年下滑的情况下，董事长薪酬的暴涨显得尤为刺眼。投资者普遍认 2025年5月6日，木林森公司发布了2024年年报。数据显示，公司2024年营业总收入为169.10亿元，同比 下降3.57%；归属净利润为3.74亿元，同比下降13.06%；扣非净利润为3.11亿元，同比下降22.27%。尽 管公司在品牌建设和智能制造方面持续投入，但多项关键财务指标均出现下滑，显示出公司面临的经营 压力。 营收净利润双降，全球市场波动成主因 木林森2024年的财务表现不容乐观。营业总收入同比下降3.57%，归属净利润和扣非净利润分别下降 13.06%和22.27%。这一下滑趋势与全球LED照明市场的波动密切相关。2024年，全球政治经济局势动 荡，地缘政治紧张，导致LED照明市场的增长节奏放缓。木林森作为全球LED照明领域的领军企业，不 可避免地受到外部环境的影响。 公司的主要收入来源为电气机械和器材制造业，其中两大品牌"朗德万斯"和"木林森"分别贡献了总营收 的57.05%和40.02%。然而，"朗德万斯"品 ...

Core Viewpoint - The company reported a decline in revenue and net profit for 2024 and Q1 2025, primarily due to a decrease in overseas income and the impact of geopolitical tensions on the global LED lighting market [1][2]. Financial Performance - In 2024, the company achieved operating revenue of 16.91 billion yuan, a year-on-year decrease of 3.57%, and a net profit attributable to shareholders of 374 million yuan, down 13.06% [1]. - For Q1 2025, the company reported operating revenue of 3.886 billion yuan, a decline of 2.82% year-on-year, with a net profit of 143 million yuan, down 21.30% [1]. Market Analysis - The decline in 2024 was mainly attributed to a 9.04% drop in revenue from the brand Langdawans, which generated 9.647 billion yuan compared to 10.606 billion yuan in 2023. In contrast, the brand Mulinsen saw a slight increase in revenue to 6.768 billion yuan from 6.580 billion yuan, driven by its influence in smart lighting and other sectors [2]. - The global LED lighting market is expected to recover in 2025, with a projected market size of 56.626 billion USD, driven by economic recovery and increasing demand for high-quality and healthy lighting [2]. Future Outlook - The traditional lighting market is anticipated to remain the dominant force in global lighting market growth, particularly in emerging markets and renovation projects for old buildings [3]. - The company has adjusted its net profit forecasts for 2025 and 2026 to 681 million yuan (down 25.41%) and 1.037 billion yuan (down 9.75%), respectively, while introducing a new forecast of 1.149 billion yuan for 2027 [3]. - The company is recognized as a leading provider of LED packaging and lighting application solutions in China, with a positive long-term development outlook and a maintained "buy" rating [3].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future investment returns [5][12]. Core Viewpoints - The company's revenue for 2024 is projected to decline slightly by 3.57% year-on-year to 16.91 billion yuan, primarily due to a decrease in overseas income [1][2]. - The company is expected to enter a recovery growth phase in 2025, with a forecasted revenue increase of 6.60% to 18.03 billion yuan [4][3]. - The global LED lighting market is anticipated to recover in 2025, driven by economic recovery and increasing demand for high-quality and healthy lighting solutions, with a projected market size of 56.63 billion USD [2][3]. Summary by Sections Financial Performance - In 2024, the company achieved a net profit of 374 million yuan, down 13.06% from the previous year [1]. - For Q1 2025, the company reported a revenue of 38.86 billion yuan, a decrease of 2.82% year-on-year, with a net profit of 1.43 billion yuan, down 21.30% [1][2]. - The company's main brand, Langdawans, saw a revenue decline of 9.04% in 2024, while the domestic brand, Mulinsen, experienced slight growth [2]. Market Outlook - The traditional lighting market is expected to remain the dominant force in global lighting market growth, despite the rise of smart lighting [3]. - The report highlights the ongoing demand for upgrading traditional lighting in various sectors, including buildings and public facilities, which will sustain strong growth in this segment [3]. Profit Forecast and Valuation - The profit forecasts for 2025 and 2026 have been adjusted downwards to 681 million yuan (down 25.41%) and 1.04 billion yuan (down 9.75%), respectively [3][4]. - The report projects a net profit of 1.15 billion yuan for 2027, indicating a positive long-term growth trajectory for the company [3][4].