Core Viewpoint - Liard is a leading enterprise in the global audiovisual technology sector, particularly in LED display technology, with significant investment value due to its full industry chain advantages [1] Group 1: Business Performance - In Q3 2025, Liard achieved a revenue of 5.302 billion yuan, ranking 4th among 30 companies in the industry, while the industry leader, Sanan Optoelectronics, reported a revenue of 13.817 billion yuan [2] - The main business composition includes smart displays at 3.07 billion yuan (87.45%), cultural tourism night tours at 285 million yuan (8.11%), AI and spatial computing at 148 million yuan (4.22%), and others at 7.68 million yuan (0.22%) [2] - The net profit for the same period was 295 million yuan, ranking 1st in the industry, with the second place, Mulinsen, reporting a net profit of 213 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Liard's debt-to-asset ratio was 40.16%, lower than the previous year's 40.94% and below the industry average of 46.71% [3] - The gross profit margin for the same period was 28.51%, higher than the previous year's 27.67% and above the industry average of 20.22% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 13.48% to 130,300, while the average number of circulating A-shares held per account increased by 15.59% to 17,500 [5] - Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 36.0636 million shares, an increase of 6.8708 million shares from the previous period [5] Group 4: Executive Compensation - The chairman and general manager, Li Jun, received a salary of 1.051 million yuan in 2024, an increase of 769,000 yuan from 2023 [4] Group 5: Market Outlook - According to CICC, Liard's H1 2025 performance met expectations, with a revenue of 3.510 billion yuan, a year-on-year decrease of 3.33%, while the net profit increased by 34.03% to 172 million yuan [6] - Key business highlights include increased LED demand driven by overseas events and a 40% year-on-year growth in Micro LED orders, with total orders exceeding 600 million yuan [6] - The "AI +" strategy is being deepened, with collaborations in multiple fields and the launch of AI toys and AR glasses for B-end customers expected [6]

Group 1 - The company, Liard, has launched its first AR glasses and has begun pre-sales as of October 30 [1]

Group 1 - The company Liard (SZ 300296) announced on October 30 that its 32nd meeting of the fifth board of directors was held on October 29, 2025, combining in-person and telecommunication methods [1] - The meeting reviewed a proposal to provide guarantees for its wholly-owned subsidiary, Guangzhou Lifen Cultural Technology Co., Ltd. [1] - For the first half of 2025, the company's revenue composition was 100.0% from the LED industry [1]

Group 1 - The core viewpoint of the article is that Liard (300296.SZ) reported a decline in revenue for the first three quarters of the year, while net profit showed significant growth [1] Group 2 - The company's operating revenue for the first three quarters was 5.3 billion yuan, a year-on-year decrease of 2.98% [1] - The net profit attributable to shareholders of the listed company was 279 million yuan, reflecting a year-on-year increase of 53.71% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 232 million yuan, which represents a year-on-year growth of 65.95% [1]

证券代码：300296 证券简称：利亚德 公告编号：2025-052 利亚德光电股份有限公司 关于为子公司提供担保的公告 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、担保事项概述 利亚德光电股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日召开 第五届董事会第三十二次会议审议通过了《关于为全资子公司广州励丰文化科技 股份有限公司提供担保的议案》、《关于为全资子公司利亚德智慧科技集团有限 公司提供担保的议案》、《关于为全资子公司上海中天照明成套有限公司提供担 保的议案》、《关于为全资子公司利亚德（湖南）光电有限公司提供担保的议案》， 同意公司为子公司——广州励丰文化科技股份有限公司（以下简称"励丰文化"）、 利亚德智慧科技集团有限公司（以下简称"利亚德智慧科技"）、上海中天照明 成套有限公司（以下简称"中天照明"）、利亚德（湖南）光电有限公司（以下 简称"湖南利亚德"）因日常经营所需进行的银行融资提供担保，具体内容如下： 1、同意全资子公司励丰文化向中国银行股份有限公司广州珠江支行（以下 简称"中国银行珠江支行"）申请人民币 3,000 ...

证券代码：300296 证券简称：利亚德 公告编号：2025-053 利亚德光电股份有限公司 关于股东回馈活动的自愿性信息披露公告 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。 时值利亚德光电股份有限公司（以下简称"公司"）成立三十周年之际，为 建立长效、多样的股东回报机制，感谢广大股东长期以来对公司的关注和支持， 公司将联合浙江核新同花顺网络信息股份有限公司（以下简称"同花顺"）开展 "上市公司股东节"股东回馈活动。现将本次活动内容公告如下： 一、活动内容 活动形式：抽奖 活动时间：2025 年 10 月 30 日至 2025 年 11 月 10 日 17:00 止。 参与范围：活动期间持有"利亚德（代码：300296）"股票且个人交易账号 可以在同花顺 App 登录的投资者。 活动设有多款利亚德三十周年庆定制奖品，款式以活动页面展示为准。 二、参与方式 1、进入利亚德股东节专场活动页：同花顺 App 搜索"股东节"或扫描下方 二维码； 2、点击"利亚德股东节"专场活动页立即报名； 3、认证股东身份； 4、报名成功后活动于 2025 年 11 月 10 日 ...

Revenue and Profit - The company's revenue for Q3 2025 was CNY 1,791,492,684, a decrease of 2.28% compared to CNY 1,833,365,550 in the same period last year[5] - Net profit attributable to shareholders was CNY 107,005,030, representing a significant increase of 101.09% from CNY 53,212,635 in the previous year[5] - The net profit after deducting non-recurring gains and losses reached CNY 87,314,261, up 123.69% from CNY 39,032,813 in the same period last year[5] - Basic earnings per share rose to CNY 0.0395, an increase of 88.10% from CNY 0.0210 in the same period last year[5] - Net profit for the current period is ¥294,807,514.71, an increase of 62.0% compared to ¥182,078,336.96 in the previous period[26] - Earnings per share (EPS) increased to ¥0.1029 from ¥0.0717, reflecting a growth of 43.1%[26] Cash Flow - Operating cash flow for the period was CNY 578,940,690, an increase of 107.46% compared to CNY 279,062,450 in the previous year[5] - Net cash flow from operating activities increased by 107.46% to 578,940,691.15 CNY, driven by reduced payments for goods and services compared to the previous year[13] - Cash flow from operating activities generated a net amount of ¥578,940,691.15, up from ¥279,062,451.96, indicating a significant improvement[29] - Cash inflow from investment activities totaled ¥1,065,017,850.07, compared to ¥387,653,890.84 in the previous period, showing a substantial increase[29] - Cash outflow for investment activities was ¥1,302,556,258.34, up from ¥576,096,175.88, leading to a net cash flow from investment activities of -¥237,538,408.27[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,800,372,867.05, reflecting a 0.64% increase from CNY 13,712,893,523.87 at the end of the previous year[5] - The company's current assets totaled RMB 10,395,291,782.11, slightly down from RMB 10,441,615,497.20 at the start of the period[21] - The company's total liabilities were RMB 5,542,818,593.13, a slight decrease from RMB 5,564,339,374.62[22] - Total assets and owners' equity increased to ¥13,800,372,867.05 and ¥8,257,554,273.92 respectively, reflecting growth in the company's financial position[24] Shareholder Information - Shareholders' equity attributable to the parent company increased to CNY 8,069,940,069.03, up 2.13% from CNY 7,901,743,921.69 at the end of the previous year[5] - The total number of ordinary shareholders at the end of the reporting period was 130,250[15] - The company reported a total of 431,254,500 shares under lock-up agreements, with a release date set for January 15, 2026[18] - The total number of restricted shares at the end of the period was 437,791,972, down from 439,156,394 at the beginning[18] Expenses and Financial Performance - Total operating costs decreased to ¥4,947,909,280.03, down 6.01% from ¥5,265,076,694.92[25] - The company reported a decrease in sales expenses to ¥534,690,148.08 from ¥566,701,149.92, indicating improved cost management[25] - Income tax expenses rose by 48.80% to 65,611,024.16 CNY, reflecting higher tax payments compared to the previous period[12] Other Financial Metrics - Financial expenses decreased by 198.36% to -26,662,143.39 CNY due to interest accrual on convertible bonds in the previous period[12] - Investment income fell by 59.42% to 4,967,806.78 CNY, attributed to U.S. Treasury bond earnings from overseas companies in the prior period[12] - Other comprehensive income after tax amounted to ¥21,500,660.40, a recovery from a loss of -¥25,126,691.93 in the previous period[26] Future Commitments and Standards - The company has ongoing commitments to develop new technologies and expand its market presence, although specific figures were not disclosed in the provided content[20] - The new accounting standards will be first implemented starting in 2025[32]

证券代码：300296 证券简称：利亚德 公告编号：2025-050 利亚德光电股份有限公司 第五届董事会第三十二次会议决议公告 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。 一、董事会会议召开情况 利亚德光电股份有限公司（以下简称"公司"）第五届董事会第三十二次会 议于 2025 年 10 月 29 日在公司会议室以现场会议与通讯会议相结合的方式召开。 公司于 2025 年 10 月 24 日以邮件等方式发出了召开董事会会议的通知。会议应 到董事 6 名，实到董事 6 名，由公司董事长李军主持。本次会议符合《中华人民 共和国公司法》等有关法律、行政法规、规章、规范性文件及《利亚德光电股份 有限公司章程》（以下简称"《公司章程》"）、《利亚德光电股份有限公司董 事会议事规则》的规定，会议形成的决议合法、有效。 二、董事会会议审议情况 经与会董事讨论、以记名投票表决的方式表决，通过以下议案： （一） 审议通过《2025 年第三季度报告》； 经审阅，董事会认为公司《2025 年第三季度报告》真实、准确、完整地反 映了公司 2025 年三季度的经营情况，不存在虚假 ...

Market Overview - The primary economic sector increased by 0.25% compared to the previous trading day, with *ST Yazhen leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Stock Performance - The top-performing stocks in the primary economic sector included: - *ST Yazhen: Closed at 48.25, up 3.70% with a trading volume of 45,900 shares and a turnover of 218 million yuan [1] - Shanghai Phoenix: Closed at 13.53, up 3.28% with a trading volume of 202,500 shares and a turnover of 275 million yuan [1] - Remote Technology: Closed at 6.94, up 3.12% with a trading volume of 805,000 shares and a turnover of 557 million yuan [1] Capital Flow - The primary economic sector experienced a net outflow of 87.83 million yuan from institutional investors, while retail investors saw a net inflow of 67.43 million yuan [2] - The capital flow for individual stocks showed: - Remote Technology had a net inflow of 38.64 million yuan from institutional investors, but a net outflow of 56.11 million yuan from retail investors [3] - Shanghai Phoenix saw a net inflow of 8.56 million yuan from institutional investors, with a net outflow of 21.73 million yuan from speculative funds [3]

格隆汇10月21日丨利亚德(300296.SZ)在投资者互动平台表示，公司未持有沐曦集成股权。 ...