Group 1: Financial Performance - In Q1 2025, the company achieved total revenue of 202 million yuan, a year-on-year increase of 10.25%, but reported a net profit attributable to shareholders of -35,900 yuan [6] - The annual report indicated a significant decline in performance, attributed to losses from the energy storage subsidiary, increased R&D expenses, and interest expenses from convertible bonds [2][3] - The company aims to improve profitability in 2025 through increased revenue from core businesses and the energy storage segment [3] Group 2: Market and Business Strategy - The company plans to expand into high-barrier incremental markets to enhance performance and explore high-potential overseas markets [4][6] - The energy storage subsidiary, established in 2022, is expected to accelerate commercialization and contribute to revenue starting in 2025 [4] - The company is focusing on optimizing R&D, smart manufacturing, and refined management to reduce costs and increase efficiency [6] Group 3: Industry Context - The Chinese lighting industry experienced a peak export value of 65.47 billion USD in 2021, but faced a decline to 56.3 billion USD in 2024, a year-on-year decrease of 3.3% [7] - LED lighting products accounted for 75% of total exports in 2024, with a decline of 2.5% compared to the previous year [7] - The market for LED plant lighting is projected to grow, with an expected market value of 1.158 billion USD by 2029, reflecting a compound annual growth rate of 7.5% from 2024 to 2029 [8] Group 4: Future Outlook and Strategic Goals - The company has set strategic goals to expand into new areas such as renewable energy, AI, and digital transformation, while leveraging its strengths in advanced manufacturing [4] - The government plans to invest over 200 billion yuan in outdoor lighting renovations by 2025, with 30% allocated for upgrading driving power systems [8] - The company is committed to enhancing its market share in domestic infrastructure projects, particularly in outdoor lighting applications [9]

Core Viewpoint - Songsheng Co., Ltd. reported a total operating revenue of 884 million yuan for 2024, representing a year-on-year growth of 15.78% [1] Group 1: Financial Performance - In 2024, the company achieved a 29.14% year-on-year increase in the sales volume of LED driver power products [1] - Revenue from LED driver power products grew by 14.66% year-on-year, further solidifying the company's market position [1] Group 2: Business Overview - Songsheng Co., Ltd. is a leading manufacturer of LED driver power supplies in China, focusing on medium and high-power LED lighting driver power supplies and energy storage inverters/converters [1][2] - The company's core business of high-power LED lighting driver power supplies has been developed over more than a decade and is essential for various LED lighting applications [2] Group 3: Competitive Advantages - The company's core competencies are highlighted in six areas: technological accumulation, R&D responsiveness, quality control, scale manufacturing, digital operations, and brand reputation [2] - As of the end of 2024, Songsheng Co., Ltd. holds 196 authorized patents, including 193 domestic patents and 3 foreign patents, with a significant focus on invention and utility model patents [2] Group 4: R&D Investment - In 2024, the company's R&D investment reached 115 million yuan, a year-on-year increase of 25.39%, accounting for 13.07% of its operating revenue, which is a leading level in the industry [2] Group 5: Brand Recognition - The company's own brand "Songsheng Power" has been recognized as a "Shenzhen Famous Brand," "Excellent LED Power Brand," "Internationally Credible Brand," and "Bay Area Famous Brand" [3]

Summary of Conference Call for Mingbao Optoelectronics Company Overview - Mingbao Optoelectronics is a national-level specialized small giant enterprise focused on the R&D, production, and sales of LED green lighting products, primarily using the ODM model to provide personalized lighting solutions for overseas brand merchants and engineering companies [2][3] Core Industry Insights - The global LED market is expected to reach $82 billion by 2026, with China maintaining over 60% of the global export share of lighting products, solidifying its position as the largest producer and exporter of LEDs [8] - The company operates in a highly fragmented market, employing a differentiated market strategy to cater to diverse customer needs [4][6] Financial Performance - For 2024, the company reported a revenue of 1.641 billion yuan, a year-on-year increase of 7.35% [11] - Net profit attributable to shareholders was approximately 231 million yuan, reflecting a slight increase of 0.17% year-on-year [11] - The commercial lighting segment generated 939 million yuan in revenue, up 8.18%, while the industrial lighting segment achieved 623 million yuan, a growth of 7.8% [11] - Total assets reached 3.098 billion yuan, a 1.34% increase, while net assets attributable to shareholders slightly decreased by 0.76% due to shareholder dividends and share buybacks [11] Strategic Initiatives - The company plans to enhance its R&D investment, which reached approximately 120 million yuan in 2024, a 20% increase, accounting for 7.29% of revenue [6] - Future strategies include expanding production capacity with new bases in Vietnam and Huizhou, focusing on digitalization and automation to improve efficiency and reduce costs [9][10] - The company aims to strengthen its market position by leveraging its quality advantages and rapid response capabilities to tap into North American and emerging markets [10] Additional Insights - The company has established long-term partnerships with over 4,000 clients across more than 150 countries [3][6] - It has received numerous industry awards, enhancing its brand influence and market competitiveness [7] - The focus remains on continuous innovation and maintaining a flexible manufacturing and quality control system to meet customer demands [7][9]

深圳市联域光电股份有限公司 SHENZHEN SNC OPTO ELECTRONIC CO.,LTD （深圳市宝安区燕罗街道罗田社区象山大道 172 号正大安工业 城 6 栋 101-601；7 栋 101-301；12 栋 101-301；17 栋 101-301； 21 栋 101-201） 首次公开发行股票并在主板上市 招股说明书 （上会稿） 本公司的发行申请尚需经深圳证券交易所及中国证监会履行相应的程序。本招股说明 书（上会稿）不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当以正 保荐人（主承销商） （北京市朝阳区安立路 66 号 4 号楼） 式公告的招股说明书作为投资决定的依据。 深圳市联域光电股份有限公司 招股说明书 声明及承诺 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发 行人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表 明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保 证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主 ...

深圳市联域光电股份有限公司 SHENZHEN SNC OPTO ELECTRONIC CO.,LTD （深圳市宝安区燕罗街道罗田社区象山大道 172 号正大安工业 城 6 栋 101-601；7 栋 101-301；12 栋 101-301；17 栋 101-301； 21 栋 101-201） 首次公开发行股票并在主板上市 招股说明书 （申报稿） 本公司的发行申请尚需经深圳证券交易所及中国证监会履行相应的程序。本招股说明 保荐人（主承销商） 式公告的招股说明书作为投资决定的依据。 （北京市朝阳区安立路 66 号 4 号楼） 书（申报稿）不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当以正 深圳市联域光电股份有限公司 招股说明书 声明及承诺 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发 行人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表 明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保 证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主 ...

深圳市联域光电股份有限公司 SHENZHEN SNC OPTO ELECTRONIC CO.,LTD （深圳市宝安区燕罗街道罗田社区象山大道 172 号正大安工业 城 6 栋 101-601；7 栋 101-301；12 栋 101-301；17 栋 101-301； 21 栋 101-201） 首次公开发行股票并在主板上市 （北京市朝阳区安立路 66 号 4 号楼） 深圳市联域光电股份有限公司 招股说明书 声明及承诺 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发 行人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表 明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保 证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行 承担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风 险。 招股说明书 （申报稿） 本公司的发行申请尚需经深圳证券交易所及中国证监会履行相应的程序。本招股说明 书（申报稿）不具有据以发行股票的法律效力 ...