公牛集团股份有限公司2025 年半年度报告 公司代码：603195 公司简称：公牛集团 公牛集团股份有限公司 GONEO GROUP CO.,LTD. 公牛集团股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人阮立平、主管会计工作负责人刘圣松及会计机构负责人（会计主管人员）沈科 伟声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本半年度报告中涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺， 敬请投资者及相关人士对此保持足够的风险认识，并理解计划、预测与承诺之间的差异。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报 ...

据证券之星公开数据整理，近期欧普照明(603515)发布2025年中报。截至本报告期末，公司营业总收入 32.16亿元，同比下降4.46%，归母净利润3.69亿元，同比下降4.07%。按单季度数据看，第二季度营业 总收入17.25亿元，同比下降3.25%，第二季度归母净利润2.28亿元，同比下降13.61%。本报告期欧普照 明公司应收账款体量较大，当期应收账款占最新年报归母净利润比达87.28%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率38.07%，同比减0.78%，净利率11.49%， 同比增0.18%，销售费用、管理费用、财务费用总计6.86亿元，三费占营收比21.34%，同比增1.66%，每 股净资产8.64元，同比增2.7%，每股经营性现金流-0.06元，同比减132.66%，每股收益0.49元，同比减 5.77% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 33.66亿 | 32.16 Z | -4.46% | | 归母浄利润（元） | 3.85亿 | 3.69Z | -4.07% ...

Core Points - Shanghai has 862 parks that are open 24 hours, accounting for over 80% of its parks, but concerns about light pollution have arisen due to prolonged artificial lighting [1] - The city is promoting parks with light pollution control and healthy lighting, with Xujiahui Park being the first demonstration park for this initiative [1][2] - The innovative "flying saucer" lights in Xujiahui Park control light direction and intensity, minimizing light pollution while allowing for adjustable brightness and color temperature based on time and season [1][2] Group 1 - The design of the "flying saucer" lights includes a ring fixture that refracts light downwards, preventing uncontrolled light dispersion [1] - The brightness of the lights varies throughout the night, with the brightest times being from 6 PM to 6 AM, and dimming to 45%-51% of maximum brightness from 9 PM to 3 AM [1] - The color temperature of the lights changes from 4000 Kelvin at 6 PM to below 3300 Kelvin at night, providing a warm ambiance, and then increasing to 5000-6000 Kelvin before dawn [2] Group 2 - The park features a "seasonal mist" display that uses light and water mist to create a dreamlike atmosphere, adapting to seasonal changes [3] - Future enhancements include a "bullet screen" feature that projects various patterns and messages on the running track, aimed at engaging the community and enhancing the park experience [4] - The successful implementation of these lighting strategies in Xujiahui Park will serve as a model for other parks in Shanghai, with plans to develop design guidelines for broader application [4]

作为照明及相关行业标准体系的中坚力量，照明标委会经国家标准化管理委员会于1997年批复成立，归 口现行国家标准达245项、行业标准75项。其前瞻性布局紧扣产业升级脉搏，在"存量优化"与"增量突 破"双轨并行下，一方面动态维护现行标准适配产业需求，另一方面积极拓展智能照明、绿色低碳、健 康光环境等新兴领域标准体系，实现从被动响应到主动引领的战略转型。 本报讯 （记者 王薛淄）从荧光灯高速发展时期，我国及时在相关标准中增加汞含量限值要求，牵头制 定荧光灯含汞量测试国际标准，并开展荧光灯低（微）汞自愿性认证工作，到LED照明飞速发展的现 在，由中国轻工业联合会与中国照明电器协会共同归口的《温室气体 产品碳足迹量化方法与要求 灯 具》《温室气体 产品碳足迹量化方法与要求 光源》《温室气体 产品碳足迹量化方法与要求 控制装置》 三项团体标准批准发布，标准始终引领着我国照明产业高质量发展。 "十四五"以来，中国轻工业联合会组织轻工行业协会、标委会和企业，认真贯彻习近平总书记的要求， 落实党中央和国务院的部署，轻工标准化工作取得了显著成绩，在推进轻工行业转型升级、满足人民日 益增长的美好生活需要等方面发挥了重要作用。作为国 ...

Core Insights - The Chinese lighting industry has achieved significant technological breakthroughs, particularly in areas such as new energy vehicles, smart driving, and health lighting, marking a milestone in core technology development and application transformation [1][2]. Group 1: Technological Achievements - Multiple major technological achievements have been recognized, including the development of a multi-stage rotating control and waterproof technology by YD Group, enhancing product adaptability and user experience [2]. - The smart lighting system for intelligent driving developed by Changzhou Xingyu Car Lights opens new dimensions for safety and human-vehicle interaction [2]. - Research from Xiamen University of Technology on high-performance full-color quantum dot LED technology addresses core material challenges, while a multi-dimensional classroom environment intelligent system promotes eye health for youth [2]. - Fudan University’s research focuses on visual environment and biological rhythm health for middle and primary school students, contributing to vision protection [2]. - Shanghai University of Applied Sciences has created new rare earth luminescent materials for human-centric lighting, establishing a solid foundation for high-performance materials [2]. - The adjustable, high-efficiency automotive lights developed by Damo Weirike target the urgent needs of intelligent and energy-saving new energy vehicles [2]. Group 2: Industry Development and Future Directions - The technology achievement appraisal is a key process for evaluating innovation, advancement, and maturity, and is a focus of the China Light Industry Federation to promote industry innovation [3]. - The China Lighting Electrical Association plays a crucial role as a national industry organization, ensuring rigorous and standardized appraisal processes [3]. - The lighting industry has entered a new era driven by innovation, with plans to strengthen collaboration with the China Light Industry Federation to enhance technology appraisal, awards, and innovation platform construction [3]. - The association invites higher education institutions, research institutes, and enterprises in the lighting and related fields to participate in technology achievement appraisals, aiming to enrich the high-quality development of the lighting industry with innovative contributions [3].

Core Viewpoint - NVC Lighting has established itself as a leader in the Chinese lighting industry since its inception in 1998, focusing on independent innovation in product research and development, and promoting the overall optimization and upgrading of the lighting industry through technological innovation, ecological layout, and social responsibility [1] Group 1: Innovation and Technology - NVC Lighting adheres to an innovation-driven development strategy, building a technological moat with over 2000 patents and participating in the formulation of 170 national and industry standards, redefining brand value through health-oriented, intelligent, and human-centered lighting technology [2] - The "Inherent Natural Light" technology developed by NVC Lighting selects color ranges that mimic natural light, leveraging current LED spectral technology advantages combined with intelligent control and mixing algorithms to replicate natural light effectively [4] Group 2: Quality and Standards - NVC Lighting emphasizes product quality amidst homogeneous competition, accelerating the transformation of technological achievements into practical applications, and establishing a value transmission mechanism that integrates technology patenting, standard formulation, and industrial implementation [6] - The company has built a strict quality system, including ISO9001 and ISO/IEC17025 standards, and established a CNAS accredited laboratory to ensure comprehensive testing of lighting products, aligning product quality standards with international benchmarks [6] Group 3: Health and Sustainability - NVC Lighting is actively implementing a health-oriented lighting strategy to promote green upgrades in the lighting industry, achieving significant results in health lighting through collaborations with institutions like Tongji University and China Aerospace Science and Technology [8] - The company has launched user-friendly health lighting solutions, such as the "Xiao Lei Yi Jia" for home use and the "Chopin" 87 series for high-end hotels, providing a one-stop intelligent lighting solution that meets modern demands for health and quality of life [8] Group 4: Industry Leadership - NVC Lighting aims to transform the lighting industry by leveraging technological innovations to overcome growth bottlenecks and reshaping the industry landscape through ecological layout, leading the Chinese lighting industry towards a new era of intelligent, healthy, and international high-quality development [8]

Investment Rating - The report does not explicitly state an investment rating for the eye protection lamp industry. Core Insights - The eye protection lamp industry is driven by technological innovation, with significant growth in terminal demand and a shift towards comprehensive light health solutions for various scenarios. Cross-industry collaborations are reshaping industry standards, particularly in education and healthcare, promoting the standardization of "eye protection environments" [4][10][14]. Summary by Sections Industry Overview - Eye protection lamps aim to reduce eye fatigue and protect vision by simulating natural light and minimizing flicker and blue light exposure. The core components include high-quality light sources and advanced lamp designs to improve light distribution and reduce glare [5][10]. Technological Innovation - The industry is characterized by significant technological advancements, particularly in LED and smart control technologies. These innovations enhance user experience through features like voice control and automatic brightness adjustment [10][11]. Demand Growth - There is a strong growth in consumer demand, with a shift from traditional desk lamps to comprehensive lighting solutions for entire homes. The average transaction value for whole-home light health solutions has increased by 4-6 times compared to single product sales [13]. Cross-Industry Collaboration - The industry is breaking down boundaries by collaborating with education and healthcare sectors, leading to the development of standardized lighting solutions for classrooms and personalized lighting plans based on vision assessment data [14]. Market Size and Growth Drivers - The market is expanding rapidly due to increased consumer health awareness and the need for myopia prevention. Over 700 million people in China are myopic, with a significant focus on protecting children's vision [35][36]. Product Diversification - The market is witnessing a diversification of products driven by technological advancements and the expansion of application scenarios, including home, office, education, and healthcare settings [38]. Competitive Landscape - The competitive landscape is fragmented, with a low market concentration. Leading brands include Honeywell and Philips, while emerging brands focus on design and smart technology to capture market share [43][44]. Future Trends - The industry is expected to see further standardization, which will likely enhance the market share of leading brands. The push for high-quality, low-blue light, and flicker-free products will drive innovation and market growth [45].