Group 1 - The core viewpoint of the news is that Mulinson's stock performance shows slight fluctuations, with a current price of 9.57 CNY per share and a market capitalization of 14.203 billion CNY [1] - As of January 8, Mulinson's stock has seen a year-to-date price change of 0.00%, a decline of 0.21% over the last five trading days, an increase of 1.38% over the last 20 days, and a rise of 4.59% over the last 60 days [1] - The company reported a revenue of 12.178 billion CNY for the first nine months of 2025, reflecting a year-on-year decrease of 0.10%, while the net profit attributable to shareholders decreased by 42.36% to 209 million CNY [2] Group 2 - Mulinson has distributed a total of 2.466 billion CNY in dividends since its A-share listing, with 1.259 billion CNY distributed over the last three years [3] - As of September 30, 2025, the number of shareholders decreased by 5.03% to 49,900, while the average circulating shares per person increased by 5.30% to 21,337 shares [2] - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 81.3921 million shares, which increased by 11.6746 million shares compared to the previous period [3]

Core Insights - The company Mulinson Co., Ltd. attempted to enter the low-altitude lighting market to create a second growth curve but ultimately failed in its plans after a year of efforts [1][3]. Group 1: Low-altitude Economic Landscape - The low-altitude economy was officially recognized as a national strategic emerging industry in 2024, with a projected market size of 1.5 trillion yuan by 2025 and expected to exceed 3.5 trillion yuan by 2035 [2]. - Nearly 30 provinces in China have included the development of the low-altitude economy in their government work reports or related policies, leading to significant stock performance in related companies [2]. Group 2: Mulinson's Strategic Moves - In January 2025, Mulinson signed a cooperation agreement with New Aviation Technology Co., Ltd. to acquire 51% of its shares, aiming to gain resources and capabilities in low-altitude lighting [2]. - The agreement included profit commitments from New Aviation Technology, with net profits promised to be no less than 50 million yuan, 60 million yuan, and 70 million yuan from 2025 to 2027 [2]. Group 3: Termination of Cooperation - In January 2026, Mulinson announced the termination of the cooperation agreement due to a lack of consensus on core arrangements, marking the failure of its initial attempt to enter the low-altitude economy [3]. Group 4: Financial Performance Challenges - Mulinson has faced ongoing performance pressure, with net profits dropping from 1.05 billion yuan in 2021 to 155 million yuan in 2022, followed by a recovery in 2023 and another decline to 311 million yuan in 2024 [4]. - For the first three quarters of 2025, Mulinson reported a slight revenue decline of 0.10% year-on-year, with net profits plummeting by 42.36% to approximately 209 million yuan [6]. - The company attributed the significant drop in profits to increased expenses, particularly in sales and R&D, as it continues to invest in overseas sales channels and new product development [7].

Core Viewpoint - Mulinson announced the termination of the previously signed Cooperation Intent Agreement with Chen Li and Guangzhou Xinhang Technology Co., Ltd. after failing to reach a consensus on core cooperation arrangements [2] Group 1: Agreement Details - On January 3, 2025, Mulinson reached a preliminary cooperation intention with Chen Li and Xinhang Technology to collaborate on the research, production, and manufacturing of low-altitude and aviation lighting products and systems, including an agreement to acquire 51% of Xinhang Technology [2] - Despite the signing of the Cooperation Intent Agreement, the parties could not form a consensus on core cooperation arrangements after multiple rounds of communication [2] Group 2: Impact on Company - Mulinson stated that the termination of the agreement is a result of friendly consultation among the three parties and will not adversely affect the company's performance or operations [2] - The company emphasized that the Cooperation Intent Agreement only represented the parties' willingness to cooperate and the preliminary agreement, and its termination will not impact the company's future development strategy or operational planning [2] - There are no concerns regarding damage to the interests of the company or minority shareholders due to this termination [2]

Core Viewpoint - Mulinson (002745.SZ) signed a cooperation intention agreement with Chen Li and Guangzhou Xinhang Technology Co., Ltd. on January 3, 2025, to collaborate on low-altitude lighting and aviation lighting products and systems, with a preliminary intention to acquire 51% of Xinhang Technology's equity [1] Group 1 - The cooperation intention agreement aims to develop, manufacture, and collaborate on core projects related to low-altitude and aviation lighting [1] - The parties involved have been actively promoting cooperation matters since the signing of the agreement, with orderly progress in various coordination efforts [1] - As of the announcement date, the parties have not reached a consensus on core cooperation arrangements after multiple rounds of communication [1] Group 2 - Due to the current situation, the three parties have mutually agreed to terminate the cooperation intention agreement after friendly consultations [1]

Core Viewpoint - Mulinson (002745.SZ) signed a cooperation intention agreement with Chen Li and Guangzhou Xinhang Technology Co., Ltd. on January 3, 2025, to collaborate on low-altitude lighting and aviation lighting products and systems, with a preliminary intention to acquire 51% of Xinhang Technology's shares [1] Group 1 - The cooperation intention agreement aims to develop and manufacture core projects related to low-altitude and aviation lighting [1] - The parties involved have been actively promoting cooperation matters since the agreement was signed, with orderly progress in various coordination efforts [1] - As of the announcement date, the parties have not reached a consensus on core cooperation arrangements after multiple rounds of communication [1] Group 2 - Following friendly consultations, all three parties agreed to terminate the cooperation intention agreement based on the current situation [1]

敬请广大投资者理性投资，注意投资风险。 证券代码：002745 证券简称：木林森 公告编号：2025-039 关于终止《合作意向协议书》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、合作意向协议书终止概述 木林森股份有限公司（以下简称"公司"）于 2025 年 1 月 3 日与陈利、广 州市新航科技有限公司(以下简称"新航科技")签署《合作意向协议书》，协议 各方就各方拟协同开展低空照明、航空照明相关产品及系统的研发、生产制造等 核心项目的合作，就收购广州市新航科技有限公司 51%的股权达成初步意向。具 体内容详见 2025 年 1 月 4 日公司刊登在《证券时报》、《中国证券报》、《上海证 券报》及巨潮资讯网（www.cninfo.com.cn）的《关于签订<合作意向协议书>的 公告》(公告编号：2025-001)。 自《合作意向协议书》签署生效后，协议三方始终积极推进各项合作事宜， 各项对接工作有序开展。截至公告发布之日，经过多轮沟通，各方在核心合作安 排上仍未形成一致意见。基于当前实际情况，经三方友好协商后，一致同意终止 该《合作意向协议书 ...

Group 1 - The core point of the article is that Mulinson has announced the approval of several proposals, including the expected daily related transactions for the year 2026 by its sixth board of directors' fifth meeting [2] Group 2 - The company is actively planning its future operations by estimating related transactions, indicating a strategic approach to managing its business relationships [2] - The announcement reflects the company's commitment to transparency and governance by formally documenting its expected transactions [2] - This move may signal potential growth opportunities and operational adjustments as the company prepares for the upcoming fiscal year [2]

2025年1至6月份，木林森的营业收入构成为：计算机和通信和其他电子设备制造业占比100.0%。 每经AI快讯，木林森（SZ 002745，收盘价：9.84元）12月24日晚间发布公告称，公司第六届第五次董 事会会议于2025年12月24日在公司一楼会议室召开。会议审议了《关于2026年度向银行申请综合授信敞 口额度及相关授权的议案》等文件。 每经头条（nbdtoutiao）——微信聊天遭老板监视，杀毒软件"失明"，员工隐私被系统性采集！软件商 公开售卖"监控神器"，称已服务多家企业 （记者 曾健辉） 截至发稿，木林森市值为146亿元。 ...

证券代码：002745 证券简称：木林森 公告编号：2025-036 木林森股份有限公司 预计公司及合并报表范围内的子公司在 2026 年度与参股公司普瑞光电（厦 门）股份有限公司及其下属公司发生的日常关联交易总额不超过人民币 138,000 万元，其中日常关联采购金额预计为不超过 28,000 万元，关联销售金额预计为 不超过 110,000 万元。 预计日常关联交易的类别和金额： 关于2026年度预计日常关联交易的公告 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。 木林森股份有限公司（以下简称"公司"）于 2025 年 12 月 24 日召开第六 届董事会第五次会议，会议审议并通过了《关于 2026 年度预计日常关联交易的 议案》，关联董事孙清焕先生、李冠群先生回避表决，上述事项尚需提交公司股 东会审议。具体情况如下： 一、预计 2026 年日常关联交易基本情况 （一）日常关联交易概述 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 | 预计金额 | 截止 2025 年 11 月 30 日本年度已发生金额 | | --- ...

一、担保情况概述： 证券代码：002745 证券简称：木林森 公告编号：2025-037 木林森股份有限公司 关于2026年度公司对子公司提供担保额度的公告 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。 木林森股份有限公司（以下简称"公司"）为保证生产及经营发展的需要， 公司于2025年12月24日召开第六届董事会第五次会议审议并通过了《关于2026 年度公司对子公司提供担保额度的议案》，为保证生产及经营发展的需要，2026 年公司拟对公司之全资子公司、孙公司、控股子公司提供担保额度预计合计不超 过 953,000 万元或等值外币，同时提请股东会授权董事长在不超过 953,000 万元 总担保额度的前提下，可根据子公司与各银行的协商情况适时调整为子公司实际 担保额度。在该额度范围内，拟授权公司董事长就相关的担保事宜作出决定，并 在相关合同和办理担保事项所需的申请文件及其它相关文件上代表公司签字，并 授权有关人员办理相关担保手续，期限自公司 2026 年第一次股东会审议通过之 日起 12 个月内有效。 公司将对此次担保进行严格审核，并根据深圳证券交易所相关规定 ...