Core Viewpoint - Lehman Optoelectronics is committed to focusing on its LED core business, continuously strengthening its operational foundation, and enhancing performance expectations while improving communication with investors through compliant information disclosure [2] Group 1 - The company is actively working to explore its operational potential and aims to improve its performance forecasts [2] - Lehman Optoelectronics emphasizes the importance of creating better returns for all shareholders while ensuring business development [2]

Market Overview - The optical optoelectronics sector experienced a decline of 1.41% on September 3, with Absen leading the drop [1] - The Shanghai Composite Index closed at 3813.56, down 1.16%, while the Shenzhen Component Index closed at 12472.0, down 0.65% [1] Stock Performance - Absen (300389) closed at 15.19, down 8.44% with a trading volume of 255,000 shares and a turnover of 397 million yuan [1] - Huaying Technology (000536) fell by 7.63% to 5.45, with a trading volume of 2.14 million shares and a turnover of 1.204 billion yuan [1] - Other notable declines include Linjie Sensor (300701) down 5.35%, Qianzhao Optoelectronics (300102) down 5.29%, and Fuguang Co., Ltd. (688010) down 4.60% [1] Capital Flow - The optical optoelectronics sector saw a net outflow of 764 million yuan from institutional investors, while retail investors contributed a net inflow of 513 million yuan [1] - The table of capital flow indicates that major stocks like Su Da Weige (300331) and O-film (002456) experienced significant net outflows from institutional and retail investors [2]

Group 1 - The core viewpoint of the news is that Huizhou Lehman Optoelectronics Technology Co., Ltd. has obtained a patent for an "LED integrated machine," which aims to reduce power consumption during standby mode while maintaining quick response times for waking up the device [1] - The patent, authorized under CN 223273008 U, was applied for on September 2024, indicating the company's ongoing innovation in LED technology [1] - The LED integrated machine includes a power layer, signal processing layer, driver layer, and LED unit, designed to minimize circuit power consumption by cutting off power to the LED unit and driver layer during standby [1] Group 2 - Huizhou Lehman Optoelectronics Technology Co., Ltd. was established in 2010 and is primarily engaged in the manufacturing of computers, communications, and other electronic devices [2] - The company has a registered capital of 100 million RMB and has participated in 10 bidding projects, showcasing its active involvement in the market [2] - The company holds 195 patents and has 22 administrative licenses, reflecting its strong position in intellectual property and regulatory compliance [2]

Core Insights - Lehman Optoelectronics reported a significant decline in net profit by 35.89% year-on-year for the first half of 2025, with total revenue decreasing by 14.23% to 564 million yuan [1] - The company's gross margin fell to 23.77%, down 2.85% from the previous year, while the net margin dropped dramatically by 61.02% to 0.59% [1] - The financial health indicators show a concerning trend, with operating cash flow per share at -0.11 yuan, a decrease of 57.64% year-on-year [1] Financial Performance - Total revenue for the first half of 2025 was 564 million yuan, down from 658 million yuan in 2024, reflecting a 14.23% decline [1] - Net profit attributable to shareholders was 4.86 million yuan, compared to 7.58 million yuan in the previous year, marking a 35.89% decrease [1] - The company reported a negative non-recurring net profit of 1.65 million yuan, worsening by 105.61% from the previous year [1] Cost and Profitability Metrics - Gross margin decreased to 23.77%, down from 24.47%, indicating reduced profitability [1] - Net margin fell to 0.59%, a significant drop from 1.53% in the previous year [1] - Total expenses (selling, administrative, and financial) amounted to 95.01 million yuan, accounting for 16.84% of revenue, an increase of 2.21% year-on-year [1] Asset and Liability Overview - Cash and cash equivalents increased to 341 million yuan, a rise of 62.60% from the previous year [1] - Accounts receivable decreased to 309 million yuan, down 8.00% year-on-year [1] - Interest-bearing debt slightly increased to 118 million yuan, reflecting a 1.49% rise [1] Historical Performance and Business Model - The company's historical return on invested capital (ROIC) has been weak, with a median of 1.64% over the past decade, and a particularly poor performance in 2020 with a ROIC of -32.32% [3] - The business model relies heavily on marketing-driven performance, necessitating a deeper analysis of the underlying drivers [3] - The average operating cash flow over the past three years is only 15.77% of current liabilities, indicating potential liquidity concerns [3]

Core Viewpoint - Lehman Optoelectronics reported a challenging first half of 2025 with revenue of 564 million yuan and a net profit of 4.86 million yuan, primarily due to intense domestic price competition and weak demand in the European and American markets. The company is accelerating its international market expansion and initiating systematic internal reforms to explore new growth points through differentiated competition [1]. Group 1: International Market Expansion - The company is advancing its international strategy to enhance global market responsiveness, customer service capabilities, and supply chain efficiency, leading to a 35% year-on-year increase in international retained customers and a 44% increase in new customers. New customers contributed to a 127% increase in revenue [2]. - Lehman Optoelectronics is innovating its overseas supply chain model with strategic hubs in the USA, Netherlands, Japan, and Dubai, implementing a "standardized hot product" regional inventory strategy to cover key markets in North America, Europe, Japan, South Korea, and the Middle East, significantly reducing delivery times [2]. Group 2: Differentiated Market Segmentation - In response to intensified competition and slowing demand in the domestic LED display market, the company is focusing on the ultra-high-definition home giant screen market and leveraging its technological expertise to explore new immersive display scenarios in cultural tourism, thereby creating new growth points [3]. - As a founding member of the Guangdong-Hong Kong-Macao Ultra HD Digital Creation Industry Ecosystem Alliance, the company is deeply integrated into the ultra-high-definition video industry chain, driving industry upgrades through technological innovation. It has established immersive experience networks in major cities across China [3]. - The company has developed a comprehensive service system covering creative design, product development, and functional customization for various cultural tourism scenarios, continuously enhancing consumer experiences [3]. Group 3: Awards and Recognition - The company's PSE energy-saving cold screen won the 2025 Japan IDPA AWARD for international pioneering design, while the new GM series indoor and outdoor rental screens received the 2025 German Red Dot Design Award for their outstanding performance and innovative design [4].

Group 1 - As of August 27, 2025, Lehman Optoelectronics' stock price is 7.86 yuan, down 4.84% from the previous trading day, with a trading volume of 149 million yuan [1] - Lehman Optoelectronics operates in the optical optoelectronics industry, focusing on the research, production, and sales of LED display, lighting, and packaging products, headquartered in Shenzhen, with applications in commercial displays, sports venues, and education [1] - In the first half of 2025, Lehman Optoelectronics reported a net profit attributable to shareholders of 4.8592 million yuan, a year-on-year decrease of 35.89% [2] Group 2 - On August 27, 2025, the net outflow of main funds was 14.0296 million yuan, with a cumulative net outflow of 32.3517 million yuan over the past five days [3]

国金证券股份有限公司 关于深圳雷曼光电科技股份有限公司 2025 年半年度跟踪报告 保荐机构名称：国金证券股份有限公司 被保荐公司简称：雷曼光电 保荐代表人姓名：邹学森 联系电话：028-86690159 保荐代表人姓名：杜晓希 联系电话：028-86690159 6.发表专项意见情况 - （1）发表专项意见次数 6 （2）发表非同意意见所涉问题及结论意见 不适用 7.向本所报告情况（现场检查报告除外） - （1）向本所报告的次数 0 次 （2）报告事项的主要内容 不适用 （3）报告事项的进展或者整改情况 不适用 8．关注职责的履行情况 - （1）是否存在需要关注的事项 否 （2）关注事项的主要内容 不适用 （3）关注事项的进展或者整改情况 不适用 9.保荐业务工作底稿记录、保管是否合规 是 10.对上市公司培训情况 - （1）培训次数 0 次 （2）培训日期 不适用 （3）培训的主要内容 不适用 11.其他需要说明的保荐工作情况 无 二、保荐机构发现公司存在的问题及采取的措施 三、公司及股东承诺事项履行情况 （以下无正文） 一、保荐工作概述 1 | 事项 | 存在的问题 | 采取的措施 | | --- | ...

深圳雷曼光电科技股份有限公司 股东会议事规则 第一章 总则 第一条 为规范深圳雷曼光电科技股份有限公司（以下简称"公司"）股东会 的组织及其参会者的行为，明确股东会的职责权限，保证公司股东会依法行使职权， 保障股东的合法权益，根据《中华人民共和国公司法》（以下简称《公司法》）、《中 华人民共和国证券法》（以下简称《证券法》）和《深圳雷曼光电科技股份有限公司 章程》（以下简称"公司章程"）以及现行的相关法律、法规和规范性文件，特制定 本规则。 第二条 公司股东会的召集、提案、通知、召开等事项适用本规则。 第三条 公司应当严格按照法律、行政法规、本规则及公司章程的相关规定召开 股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体董事应当勤勉 尽责，确保股东会正常召开和依法行使职权。 （一）会议的召集、召开程序是否符合法律、行政法规、本规则和公司章程的规 定； 第四条 股东会由全体股东组成，是公司权力机构，代表全体股东的利益。 第五条 股东会应当在《公司法》和公司章程规定的范围内行使职权。 第六条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次，应当 于上一会计年 ...

深圳雷曼光电科技股份有限公司 章 程 二○二五年八月 深圳雷曼光电科技股份有限公司 章 程 目 录 2 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第四章 股东和股东会 第一节 股东 第二节 控股股东和实际控制人 第三节 股东会的一般规定 第四节 股东会的召集 第五节 股东会的提案与通知 第六节 股东会的召开 第七节 股东会的表决和决议 第五章 董事和董事会 第一节 董事的一般规定 第二节 董事会 第三节 独立董事 第四节 董事会专门委员会 第六章 高级管理人员 第七章 财务会计制度、利润分配和审计 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 第八章 通知和公告 3 第一节 通知 第二节 公告 第九章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十章 修改章程 第十一章 附则 第一章 总则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组织和 行为，根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共 和国证券法》（以下简称《证券法》）和其他有关规 ...

深圳雷曼光电科技股份有限公司 董事会战略委员会议事规则 第一章 总则 第一条 为适应深圳雷曼光电科技股份有限公司（下称"公司"）战略发展需 要，增强公司核心竞争力，健全投资决策程序，加强决策科学性，提高决策的质 量，完善公司治理结构，根据《中华人民共和国公司法》、《上市公司治理准则》、 《深圳雷曼光电科技股份有限公司章程》（以下简称"《公司章程》"）及其他有关 规定，公司设立董事会战略委员会，并制订本议事规则。 第二条 战略委员会是董事会下设的专门工作机构，主要负责对公司长期发 展战略和重大投资决策进行研究并提出建议。 第二章 人员组成 第三条 战略委员会由三名董事组成，其中独立董事至少一名。 第四条 战略委员会委员由董事长、二分之一以上的独立董事或全体董事的 三分之一以上提名，并由董事会选举产生。 第五条 战略委员会设主任委员（召集人）一名，由公司董事长担任。 第六条 战略委员会任期与董事会任期一致，委员任期届满，连选可连任。期 间如有委员不再担任公司董事职务，自动失去委员资格。委员在任期届满前可向 董事会提交书面的辞职申请。委员在失去资格或获准辞职后，由委员会根据本规 则有关规定补足委员人数。 第七条 战 ...