Core Viewpoint - The recent board meeting of Absen (300389.SZ) highlighted internal governance issues, particularly regarding the chairman's compensation, which has implications for investor confidence and company leadership stability [1][3]. Group 1: Company Governance - Absen's sixth board meeting was held on November 28, 2025, where multiple resolutions were passed with a majority vote of 9 in favor and no opposition, except for the election of Ding Yanhui as chairman, who voted against due to dissatisfaction with the chairman's salary [1]. - Ding Yanhui, the founder of Absen, has held various leadership roles since the company's establishment in 2001 and currently owns 33.78% of the company's shares, making him the actual controller [3]. Group 2: Financial Performance - In 2024, Ding Yanhui's pre-tax compensation was reported at 4.3556 million yuan, which includes approximately 1.7399 million yuan from an employee stock ownership plan, while his base salary was 2.6157 million yuan [3]. - The LED display industry has faced a slowdown, with Absen's net profit declining by 62.98% year-on-year, contrasting with competitors like Leyard and Aoto Electronics, which also reported losses [4]. - In the first half of 2025, Absen achieved a revenue of 1.819 billion yuan, a year-on-year increase of 1.15%, and a net profit of 116 million yuan, up 30.84% compared to the previous year [4].

Core Viewpoint - The recent board meeting of Aibison (300389) resulted in the election of Ding Yanhui as the chairman, with a notable dissenting vote from Ding himself regarding his compensation, highlighting concerns over the company's concentrated shareholding structure [1][3][4]. Group 1: Board Meeting and Shareholding Structure - Aibison's board meeting approved Ding Yanhui as chairman with a vote of 8 in favor and 1 against, the dissenting vote being from Ding himself due to dissatisfaction with his compensation [1][3]. - Ding Yanhui holds a 33.78% stake in Aibison, while the second and third largest shareholders hold 16.61% and 14.23% respectively, indicating a highly concentrated ownership structure [3][4]. - Ding expressed concerns that the concentrated shareholding limits the company's governance and has attempted to negotiate changes without success [3][4]. Group 2: Financial Performance - Aibison reported a revenue of 2.872 billion yuan for the first three quarters of the year, reflecting a year-on-year growth of 5.66% [7]. - The company's net profit attributable to shareholders reached 185 million yuan, a significant increase of 57.33% year-on-year, while the net profit excluding non-recurring items surged by 107.40% [7]. Group 3: Executive Compensation - Ding Yanhui's pre-tax compensation for 2024 was reported at 4.3556 million yuan, which includes 1.7399 million yuan from an employee stock ownership plan, marking a 51% increase from the previous year [5][6].

Group 1 - The only opposing vote in the board meeting came from Ding Yanhui, who expressed dissatisfaction with the chairman's salary [1] - This unusual dissent sparked discussions on social media, with some users humorously commenting on the chairman's situation and others questioning the adequacy of a salary of 4.35 million [2] - According to the 2024 annual report of Aibisen, Ding Yanhui's salary was 4.3556 million, an increase of 1.4711 million compared to the previous year [5] Group 2 - Aibisen, founded in 2001, is a leading global provider of true LED display applications and services [4] - In the first three quarters of 2025, Aibisen achieved a revenue of 2.872 billion and a net profit attributable to the parent company of 185 million [4]

21世纪经济报道记者 林典驰 深圳报道 近日，艾比森（300389.SZ）发布公告，公司第六届董事会第一次会议于2025年11月28日召开。会议审 议通过了多个议案，包括修订公司制度、选举董事长及各专门委员会委员、聘任总经理及其他高级管理 人员等。会议的表决结果显示，绝大多数议案均获得9票同意，无反对票。 然而，在选举第六届董事会董事长的议案中却产生了变数，公司同意选举丁彦辉为公司第六届董事会。 对此，丁彦辉投了1票反对，反对理由是对董事长岗位薪酬不满意。 至于丁彦辉为何对薪酬不满意，薪酬是过高或过低，公告里并没有写明。 根据各自2024年报，利亚德董事长李军税前薪酬105.1万，洲明科技董事长林洺锋税前薪酬100.73万，与 之同期对比的艾比森董事长丁彦辉税前薪酬435.56万。 2025年上半年，LED显示行业整体有所复苏，艾比森上半年实现营业收入18.19亿元，同比增长1.15%； 实现归母净利润1.16亿元，同比增长 30.84%。 作为对比，洲明科技和艾比森营收和归母净利润都要优于艾比森。同期洲明科技营收36.58亿元，同比 增长7.38%，实现归母净利润1.21亿元，同比增长20.61%。同期，利 ...

Group 1 - The sixth board meeting of Absen (300389.SZ) was held on November 28, 2025, where multiple proposals were approved, including the election of the chairman and senior management appointments, with most proposals receiving 9 votes in favor and no opposition [2] - Ding Yanhui was elected as the chairman of the sixth board, but he voted against his own election due to dissatisfaction with the chairman's salary [2][3] - Ding Yanhui, the founder of Absen, holds 125 million shares, accounting for 33.78% of the total share capital, making him the actual controller of the company [5] Group 2 - Ding Yanhui's pre-tax remuneration for 2024 was 4.3556 million yuan, which includes approximately 1.7399 million yuan from the employee stock ownership plan; excluding this, his pre-tax salary was 2.6157 million yuan [5] - The LED display industry has seen a slowdown in overall business growth, with many companies, including Absen, facing profitability challenges; Absen's net profit decreased by 62.98% year-on-year [5] - In comparison, the chairman's salaries of competitors Liard (300296.SZ) and Zhouming Technology (300232.SZ) were significantly lower than Ding Yanhui's, at 1.051 million yuan and 1.0073 million yuan respectively [6] Group 3 - In the first half of 2025, the LED display industry showed signs of recovery, with Absen achieving revenue of 1.819 billion yuan, a year-on-year increase of 1.15%, and a net profit of 116 million yuan, up 30.84% [6] - Absen's revenue and net profit were lower than those of Zhouming Technology, which reported revenue of 3.658 billion yuan and a net profit of 121 million yuan, both showing positive growth [6] - As of December 2, Absen's stock closed at 16.01 yuan per share, with a total market capitalization of 5.909 billion yuan [7]

Core Viewpoint - The chairman of Aibisen, Ding Yanhui, opposed his own election as chairman due to dissatisfaction with his compensation package, highlighting potential governance issues within the company [1][3]. Company Overview - Aibisen (300389) is primarily engaged in providing a full range of LED display products and professional audiovisual solutions [3]. - The company reported a revenue of 2.872 billion yuan for the first three quarters of the year, representing a year-on-year increase of 5.66% [3]. - The net profit attributable to shareholders was 185 million yuan, showing a significant year-on-year growth of 57.33% [3]. Financial Performance - Ding Yanhui's pre-tax compensation from the company was 4.3556 million yuan in 2024, an increase of nearly 1.5 million yuan compared to 2.8845 million yuan in 2023 [3]. - The company's stock performance shows a market capitalization of 5.909 billion yuan, with a price-to-earnings ratio (TTM) of 32.05 [4]. Shareholding Structure - Ding Yanhui holds 12.46715 million shares, accounting for 33.78% of the total share capital, making him the actual controller of the company [6][7]. - The top shareholders include Ding Yanhui, who has a significant stake, followed by other shareholders such as Deng Jiangbo and Wu Yonghong [7].

文/新浪财经上海站 十里 11 月 28 日，艾比森（300389.SZ）发布《第六届董事会第一次会议决议公告》，在选举董事长环节出 现了罕见一幕：公司创始人、长期担任董事长的丁彦辉，以 8：1 的票数再次当选董事长，但唯一的反 对票，来自他本人。 这一反常的反对票，在社交媒体上迅速激起讨论。有博主调侃"让董事长受委屈了"，也有网友直言"435 万还不满意？"。 他在表决理由中明确写道——"对董事长岗位薪酬不满意"。 这位 1973 年出生、从 2001 年创业起便一路带着艾比森走到今天的掌舵者，一直稳居公司核心位置。 | 姓名 | 性别 | से स्थित | 用多 | 任职状态 | 从公司获得的 | 是否在公司关 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 税前报顾总额 | 联方铁取报酬 | | 丁彦辉 | di | 52 | 董事长 | 观任 | 435.56 | 15 | | 丁崇彬 | 男 | 41 | 董事、总经理 | 现任 | 332.96 | 香 | | 罗艳君 | 女 | 48 | 董事、副总经 | 现任 | 296. ...

Core Viewpoint - Abison (300389) held its first meeting of the sixth board of directors on November 28, 2025, where several resolutions were passed, including the election of the chairman and the appointment of senior management [1] Group 1: Board Meeting and Management Changes - The board meeting resulted in the election of Ding Yanhui as the chairman, although he voted against his own election due to dissatisfaction with the chairman's salary [1] - Ding Yanhui received a pre-tax compensation of 4.3556 million yuan in 2024, which includes 1.7399 million yuan from the employee stock ownership plan, marking a 51% increase from his 2.8845 million yuan salary in 2023 [1][2] Group 2: Financial Performance - In 2024, the company reported total revenue of 3.663 billion yuan, a year-on-year decrease of 8.58%, and a net profit attributable to shareholders of 117 million yuan, down 62.98% [2] - The company attributed the revenue decline to a challenging economic environment and competitive landscape in the Chinese market, with revenue from this market dropping by 48.44% to approximately 738 million yuan [3] - Despite the challenges, the company experienced good growth in overseas markets and reported a revenue of 2.872 billion yuan in the first three quarters of the year, a year-on-year increase of 5.66%, with a net profit of 185 million yuan, up 57.33% [3] Group 3: Market Performance - As of the close on November 28, Abison's stock rose by 1.06%, trading at 16.18 yuan per share, with a total market capitalization of 5.972 billion yuan [4]

艾比森COB生产车间 公司供图 从1996年怀揣500元借款自甘肃南下深圳，到如今带领艾比森成为市值超60亿元的全球LED显示领域领 军企业，艾比森董事长丁彦辉用20余年时间，书写了一部励志创业史。 面对行业产能过剩、竞争无序等困境，艾比森以"品牌化+轻资产+数字化"战略破局，带领企业在行业 内卷中逆势突围，更以"至真"的经营哲学，在全球市场搭建起跨文化信任的桥梁。 展望"十五五"，丁彦辉表示，艾比森将坚持高端品牌定位，加大研发投入，持续深耕细分领域，致力打 造全球LED显示技术与应用的领导品牌。 ● 本报记者 黄灵灵 ...

Core Insights - The article highlights the success story of Absen, a leading global LED display company, under the leadership of Chairman Ding Yanhui, who has transformed the company from a small startup to a market leader with a market value exceeding 6 billion yuan [2] - Absen's strategy focuses on "branding + light asset + digitalization" to navigate challenges such as industry overcapacity and intense competition, aiming to establish itself as a leader in LED display technology and applications [2][9] Company Strategy - Absen has maintained a consistent focus on being a "large screen brand" since its establishment in 2001, avoiding blind expansion during industry booms and remaining proactive during downturns, which is considered a key to its success [3] - The company operates with approximately 600 million yuan in fixed assets, significantly lower than many competitors, emphasizing a "light asset" model that prioritizes high-value intangible assets like patents and brand reputation [3] - Absen has over 1,300 patents, with more than 30% being invention patents, creating a strong technological barrier in niche application areas [3] Financial Performance - For the first three quarters of 2025, Absen reported revenue of 2.872 billion yuan, a year-on-year increase of 5.66%, and a net profit of 185 million yuan, up 57.33% [4] - In the third quarter of 2025 alone, the company achieved revenue of 1.053 billion yuan, a 14.5% increase year-on-year, and a net profit of approximately 69 million yuan, reflecting a 138.55% growth [4] Market Positioning - Absen focuses on listening to user needs in niche markets to avoid homogeneous competition, developing over 30 tailored solutions for various applications, including sports venues and outdoor advertising [5][6] - The company has successfully addressed specific customer demands, such as a 10-year warranty for highway advertising screens, which many competitors struggle to meet [5] Digital Transformation - Absen began its digital transformation in 2007, investing in IT systems to create a fully integrated digital operation, which enhances efficiency and data accuracy [7] - The company has implemented 18 IT systems and established 16 core processes, ensuring a seamless digital operation that supports real-time data management [7] Operational Efficiency - Absen has improved its net operating cycle from 44 days to 37 days year-on-year, significantly outperforming competitors with cycles as long as 217 days [8] - The company collaborates with over 6,000 channel partners globally, establishing a market presence in over 140 countries and regions [8] Industry Outlook - The LED display industry is expected to consolidate over the next 5 to 10 years, with only a few leading companies emerging due to rapid technological changes and low standardization [8] - Absen aims to transition into a "solution provider" while enhancing its R&D efforts and contributing to industry standards for high-quality development [9][10]