证券代码：002745 证券简称：木林森 公告编号：2024-024 木林森股份有限公司 2023年年度股东大会决议公告 3、本次股东大会不涉及变更前次股东大会决议。 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。 特别提示： 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； 一、会议召开情况 1、会议召开时间： （1）现场会议召开时间：2024 年 5 月 9 日（星期四）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： 2024 年 5 月 9 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：2024 年 5 月 9 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； 二、会议出席情况 ...

Investment Rating - The report maintains a "Buy" rating for the company with a current price of 8.39 CNY [5] Core Views - The company, Mulinson, is a leading player in the domestic LED packaging manufacturing sector, employing over 21,000 people and operating five production bases across Guangdong, Jiangxi, and Zhejiang provinces [4] - In 2023, the company achieved a main business revenue of 17.536 billion CNY, a year-on-year increase of 6.17%, and a net profit attributable to shareholders of 430 million CNY, a significant year-on-year increase of 121.71% [4] - The company is actively optimizing its overseas brand channels and advancing its digital transformation [5][19] - The company has a strong brand portfolio, including domestic brands like "Mulinson MLS" and international brands like "LEDVANCE," which enhances its market presence [4][8] - The company is focusing on expanding its overseas LEDVANCE channel layout, which is expected to contribute to revenue growth [19] Financial Summary - The company forecasts a decline in net profit for 2024 and 2025, with estimates of 712 million CNY and 913 million CNY respectively, reflecting a downward adjustment of 24.50% and 28.67% [19] - The projected revenue for 2024 is 19.289 billion CNY, with a growth rate of 10% [26] - The company's earnings per share (EPS) is expected to increase from 0.29 CNY in 2023 to 0.48 CNY in 2024 [26] - The company’s price-to-earnings (P/E) ratio is projected to decrease from 29 in 2023 to 17 in 2024 [26] Digital Transformation and Manufacturing Strategy - The company is committed to digital transformation and smart manufacturing, achieving progress in supply-demand coordination, production, and logistics [25] - A comprehensive digital management platform has been established to connect suppliers and customers, enhancing operational efficiency and reducing costs [18][25]

木林森股份有限公司（以下简称"公司"）于近日收到控股股东孙清焕先生 的通知，获悉孙清焕先生将其质押给中信建投证券股份有限公司（以下简称"中 信建投证券"）的本公司股份32,300,000股，办理了提前解除质押业务。具体事 项如下： 二、控股股东股份及其一致行动人累计质押的情况 截至公告披露日，控股股东及其一致行动人所持质押股份情况如下： 证券代码：002745 证券简称：木林森 公告编号：2024-022 木林森股份有限公司 关于控股股东部分股份提前解除质押的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、控股股东股份解除质押的基本情况 股东 名称 是否为第 一大股东 解除质押股 数（股） 占其所持 股份比例 占公司总 股本比例 质押开始 日期 原质押解除日 期 本次解除质押 日期 质权人 孙清焕 是 32,300,000 5.85% 2.18% 2023年7月4日 2024年7月3日 2024年4月24日 中信建投证券 及质押风险情况，并按规定及时做好相关信息披露工作，敬请投资者注意投资风 险。 四、备查文件 1、中国证券登记结算有限责任公司深圳分 ...

监事会认为：董事会编制《2024年第一季度报告》的程序符合法律、行政法 规和中国证监会的规定，报告内容真实、准确、完整地反映了上市公司的实际情 况，不存在任何虚假记载、误导性陈述或者重大遗漏。 表决结果：3票同意，0票反对，0票弃权。 《2024 年第一季度报告》具体内容详见公司 2024 年 4 月 26 日披露于指定 信息披露媒体巨潮资讯网（http://www.cninfo.com.cn）和《证券时报》、《中国 证券报》、《证券日报》及《上海证券报》。 证券代码：002745 证券简称：木林森 公告编号：2024-021 木林森股份有限公司 第五届监事会第十三次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 木林森股份有限公司（以下简称"公司"）第五届监事会第十三次会议于2024 年4月25日在公司会议室以现场会议的方式召开，会议通知于2024年4月18日以专 人传递的方式发出。会议由公司监事会主席闫玲女士主持，应出席监事3人，实 际出席监事3人，会议的召集、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，会议合法有效。 ...

Financial Performance - The total operating revenue for the reporting period was approximately ¥3.999 billion, a decrease of 1.97% compared to the previous period's ¥4.080 billion[6]. - The net profit attributable to the parent company's shareholders increased by 28.93% to approximately ¥181.43 million from ¥140.78 million in the previous period[8]. - Basic and diluted earnings per share both increased by 33.33% to ¥0.12 from ¥0.09 in the previous period[8]. - The total comprehensive income attributable to the parent company decreased by 33.08% compared to the previous period[1]. - The total comprehensive income for the reporting period was approximately ¥85.17 million, a decrease from ¥125.40 million in the previous period[8]. - The comprehensive income decreased by 32.08% year-on-year, mainly due to the impact of other comprehensive income[32]. Cash Flow - Cash received from operating activities increased significantly by 1115.42%, primarily due to an increase in note deposits[1]. - The net cash flow from operating activities for the current period is ¥299,866,140.01, a decrease of 17.5% compared to ¥363,651,904.84 in the previous period[12]. - Cash inflow from operating activities totaled ¥4,254,356,552.92, down 12.9% from ¥4,890,003,421.72 in the previous period[12]. - Cash outflow from operating activities was ¥3,954,490,412.91, a decrease of 12.6% compared to ¥4,526,351,516.88 in the previous period[12]. - The net cash flow from investing activities was -¥204,025,848.79, a significant decline from ¥360,208,412.31 in the previous period[12]. - Cash inflow from investing activities was ¥305,471,323.49, down 45.0% from ¥556,599,748.70 in the previous period[12]. - Cash outflow from investing activities increased to ¥509,497,172.28, up 159.5% from ¥196,391,336.39 in the previous period[12]. - The net cash flow generated from operating activities was approximately ¥299.87 million, a decrease of 17.54% compared to the previous year[46]. Assets and Liabilities - The total assets and liabilities amounted to approximately ¥24.388 billion, showing a slight increase from ¥24.362 billion in the previous period[5]. - Total assets increased to CNY 24,388,360,679.93 from CNY 24,361,905,369.64, reflecting a slight growth of 0.11%[25]. - Cash and cash equivalents decreased to CNY 3,979,971,522.25 from CNY 4,106,808,772.78, a decline of approximately 3.09%[28]. - Total current liabilities remained stable at CNY 9,193,165,656.62 compared to CNY 9,190,959,158.38, showing minimal change[25]. - Non-current liabilities decreased to CNY 1,312,206,234.06 from CNY 1,375,791,616.32, a reduction of about 4.6%[25]. - The total liabilities decreased slightly to CNY 10,505,371,890.68 from CNY 10,566,750,774.70, a decline of approximately 0.58%[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 53,995[15]. - The largest shareholder, Sun Qinghuan, holds 37.18% of the shares, amounting to 551,751,293 shares[15]. Investment and Expenses - The cash received from investment income decreased by 77.72%, mainly due to the impact of financial products[1]. - Interest expenses decreased by 68.66% year-on-year, mainly due to reduced interest payments[40]. - The investment income from joint ventures and associates increased by 152.06% year-on-year, attributed to the profit increase of the company's joint ventures[40]. - The company's dividend receivables decreased by 100% compared to the beginning of the period, primarily due to the receipt of dividend payments during the period[50]. - Non-operating expenses increased by 4782.43% compared to the same period last year, mainly due to an increase in other losses[50]. - Income tax expenses increased by 38.12% compared to the same period last year, primarily due to the increase in total profit[50]. Other Financial Metrics - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets increased by 236.35%, reflecting higher asset investments[1]. - The company reported a significant increase in cash received from other operating activities, totaling ¥279,463,419.41 compared to ¥22,993,156.58 in the previous period[12]. - Construction in progress increased by 47.08% compared to the beginning of the period, mainly due to the increase in construction projects during the period[50]. - Interest income increased by 48.31% compared to the same period last year, primarily due to the increase in interest income[50]. - Fair value changes in income increased by 259.70% compared to the same period last year, mainly due to the increase in fair value changes from derivative financial instruments[50]. - Asset disposal income increased by 126.94% compared to the same period last year, primarily due to the impact of fixed assets[50].

经董事会审议，认为公司《2024 年第一季度报告》的编制和审议程序符合法 律、法规和《公司章程》的相关规定，报告内容真实、准确、完整地反映了公司 2024 年第一季度的经营状况和经营成果，不存在任何虚假记载、误导性陈述或 重大遗漏。 表决结果： 6 票赞成，0 票反对，0 票弃权。 证券代码：002745 证券简称：木林森 公告编号：2024-020 木林森股份有限公司 第五届董事会第十三次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 木林森股份有限公司（以下简称"公司"或"木林森"）第五届董事会第十 三次会议于2024年4月25日以现场加通讯的表决方式在本公司一楼会议室召开， 会议通知于2024年4月18日以电子邮件和电话方式发出。会议由公司董事长孙清 焕先生主持，监事和高级管理人员列席了会议。本次会议应出席董事6人，实际 出席董事6人，其中出席现场会议董事3名，以通讯表决方式参会董事3名；会议 的召集、召开符合《中华人民共和国公司法》等有关法律、行政法规、部门规章、 规范性文件和《公司章程》的相关规定，会议合法有效。本次会议与会董事经认 真 ...

Investment Rating - The report assigns an "Accumulate" rating for the company, marking it as the first time this rating has been given [1]. Core Insights - The company achieved a revenue of 17.536 billion yuan in 2023, representing a year-on-year growth of 6.17%, and a net profit of 400 million yuan, which is a significant increase of 157.87% year-on-year [1][3]. - The company plans to distribute a dividend of 3.38 yuan per 10 shares, totaling approximately 502 million yuan [1]. - The company is recognized as the largest LED manufacturer in China, benefiting from an integrated layout that enhances production efficiency and quality through smart manufacturing [1][3]. - The overseas brand LEDVANCE contributed significantly to revenue, with 10.606 billion yuan in sales from international markets, accounting for 60.48% of total revenue [1][3]. - The company has a strong focus on R&D, with expenses reaching 381 million yuan in 2023, a 28.37% increase from the previous year, and holds 1,665 patents, showcasing its industry-leading R&D capabilities [3]. Summary by Sections Financial Performance - In 2023, the company reported a revenue of 17.536 billion yuan and a net profit of 430 million yuan, with projected revenues for 2024, 2025, and 2026 expected to be 19.974 billion, 22.831 billion, and 26.475 billion yuan respectively [9][10]. - The net profit is forecasted to grow to 702 million yuan in 2024, 970 million yuan in 2025, and 1.102 billion yuan in 2026, indicating a robust growth trajectory [10]. Market Position - The company has established a comprehensive supply chain and marketing network, leveraging both domestic and international markets to support its growth [1][3]. - The integrated production capabilities across multiple bases in Guangdong and Jiangxi enhance its competitive edge in the lighting industry [1]. R&D and Innovation - The company is deeply engaged in R&D, focusing on smart and health lighting, with significant advancements in energy-efficient products [3]. - The competitive landscape in the LED industry is expected to improve, with a reduction in the number of competitors, allowing the company to capitalize on recovering downstream demand [3].

关于召开2023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。 证券代码：002745 证券简称：木林森 公告编号：2024-019 木林森股份有限公司 木林森股份有限公司 董事会 木 林 森 股 份 有 限 公 司 （ 以 下 简 称 " 公 司 "） 已 于 2024 年 4 月 18 日 在 巨 潮 资 讯 网 （http://www.cninfo.com.cn/）上披露了《木林森2023年年度报告》。 投资者依据提示，授权登入"约调研"小程序，即可参与交流。 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。 为便于广大投资者进一步了解公司2023年年度经营情况，公司定于2024年5月13日（星期 一）下午15:00至17:00时在"约调研"小程序举行2023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 ...

证券代码：002745 证券简称：木林森 公告编号：2024-018 一、 控股股东股份质押的基本情况 | 股东 | 是否为控 | 本次质押数 | 占其所持 | 占公司总 | 是否为 | 是否为 补充质 | 质押起 | 质押到 | 质权人 | 质押用途 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 股股东 | 量（股） | 股份比例 | 股本比例 | 限售股 | 押 | 始日 | 期日 | | | | 孙清焕 | 是 | 45,460,000 | 8.24% | | | 否 | 2024 年 4 月 22 | 2025 年 4 月 22 | 海通证券 股份有限 | 置换质押 | | | | | | 3.06% | 否 | | | | | | | | | | | | | | 日 | 日 | 公司 | | 二、控股股东股份及其一致行动人累计质押的情况 截至公告披露日，控股股东及其一致行动人所持质押股份情况如下： | | 持股数量 | | 本次质押前 | 本次质押后 | 占其所 | 占公司 | 已质押股份情况 ...

Financial Performance - In 2023, the company's total operating revenue reached approximately CNY 17.5 billion, with a year-on-year growth of 8%[16] - The net profit attributable to shareholders for the year was CNY 430 million, representing a decrease of 10% compared to the previous year[16] - The company achieved a net cash flow from operating activities of CNY 1.98 billion, an increase of 15% year-on-year[16] - The company reported a government subsidy of CNY 138.72 million, which is closely related to its normal business operations[16] - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a year-over-year growth of 15%[71] - The company has set a performance guidance for the next fiscal year, projecting a revenue growth of 10% to 12%[71] - The total revenue for the reporting period reached 17,535,675,550 CNY, representing a year-on-year increase of 6.17% compared to 16,516,774,262.39 CNY in the previous year[180] - The revenue from the LEDVANCE brand accounted for 60.48% of total revenue, amounting to 10,606,319,160 CNY, which is a 10.31% increase from 9,614,787,042.87 CNY in the previous year[180] - The revenue from the domestic market was 6,505,649,516.5 CNY, which is 37.10% of total revenue, showing a 6.92% increase from 6,084,319,223.9 CNY in the previous year[180] - The overseas revenue reached 11,030,026,033 CNY, accounting for 62.90% of total revenue, with a year-on-year growth of 5.73% from 10,432,455,038.46 CNY[180] Market Expansion and Strategy - The company plans to expand its overseas market presence, particularly in the LED display sector, which is expected to grow rapidly in the Asia-Pacific, Africa, and Latin America regions[19] - The export value of lighting products to countries along the "Belt and Road" reached USD 24.5 billion, a 2% increase year-on-year, accounting for 44% of China's total lighting product exports[19] - The company is focusing on expanding its market presence in the ODM sector, particularly for mid-range rental markets[71] - The company is actively expanding its overseas photovoltaic energy storage business, enhancing its product line under the LEDVANCE brand[178] Product Development and Innovation - The company has invested in digital transformation and smart manufacturing, enhancing operational efficiency and reducing costs[24] - The company is focusing on developing advanced packaging technologies such as Mini/Micro LED, which will strengthen its market competitiveness[25] - The company has successfully developed an intelligent solar lamp, which can be applied in various settings, enhancing its product portfolio[50] - The company has achieved a breakthrough in manufacturing processes, leading to the authorization of an invention patent related to the new products[49] - The company has applied for 1 invention patent and 3 utility model patents related to the air-purifying LED device technology, indicating a focus on innovation[57] - The company has completed the design and production of a new PCB and shell design by July 15, 2023, enhancing product quality and expanding overseas market opportunities[104] - The company has successfully completed mass production of new products, including LED flashlights, aimed at expanding market share in this category[129] - The company has developed new LED products through independent research, resulting in 2 invention patents and 4 utility model patents, with 3 utility model patents granted[187] Research and Development - R&D investment increased by 28.37% to ¥381,444,786.19 in 2023, compared to ¥297,154,652.44 in 2022[122] - The proportion of R&D investment to operating revenue rose to 2.18% from 1.80% year-on-year[122] - The number of R&D personnel increased by 24.62% for bachelor's degrees and 157.14% for master's degrees compared to the previous year[122] - The company has increased its R&D personnel by 14.05%, reaching a total of 1,518 employees, indicating a commitment to innovation and product development[146] Sustainability and Environmental Focus - The company is committed to sustainable development, with a focus on green and smart lighting solutions to capture new market opportunities[20] - The company is utilizing advanced materials to enhance the mechanical strength and UV resistance of its outdoor lighting products[83] - The company has completed the development of an eco-friendly reverse osmosis drinking machine, ensuring water purity and safety while promoting sustainable development[136] Technological Advancements - The company has developed a low THD linear constant current driving circuit, improving power factor and reducing THD values, thus enriching its product line[108] - The project on high-density heat dissipation LED beads has achieved 2 technological results, leading to new product launches and additional sales growth points[90] - The company has successfully developed a high-brightness LED lighting fixture, which features a dual-sided lighting structure to effectively increase illumination range[105] - The company has made advancements in long afterglow LED technology, resulting in 2 technological achievements and enhancing product performance and market competitiveness[187] Customer Engagement and Market Demand - User data indicates that the number of active users has reached 5 million, an increase of 20% compared to the previous year[71] - The introduction of energy-saving products is expected to improve the company's brand image and credibility among customers[55] - The new products are designed to enhance the company's market position and meet the growing demand for air purification solutions[113] Financial Health and Cash Flow - Cash and cash equivalents increased by 200.34% to ¥1,031,100,991.95, compared to a decrease of ¥1,027,587,530.75 in the previous year[124] - Total cash inflow from operating activities increased by 4.74% to ¥18,705,588,603.85, while cash outflow decreased by 5.51% to ¥16,721,239,290.93[122] - The net cash flow from investment activities rose by 35.47% to ¥1,543,745,905.96, compared to ¥1,139,507,578.31 in the previous year[122]