Core Viewpoint - In 2024, the company demonstrated resilience and recovery in performance despite multiple challenges, achieving a revenue of 2.668 billion yuan and a net profit of 9.0718 million yuan, marking a turnaround from losses [1] Group 1: Financial Performance - The company reported a revenue of 2.668 billion yuan, representing a year-on-year growth of 1.41% [1] - The net profit attributable to shareholders was 9.0718 million yuan, indicating a return to profitability [1] - Operating cash flow improved significantly, reaching 470 million yuan [1] - Research and development expenditure increased to 182 million yuan, up 8.32% year-on-year [1] Group 2: Global Strategy and Operations - The company's "local production + global collaboration" strategy has shown enhanced resilience amid global trade tensions and geopolitical risks [2] - The company has established production bases in multiple countries, including China, India, Mexico, and Italy, creating a global manufacturing network [2] - The flexible global production layout allows for backup production capabilities across regions, improving service proximity to customers and enhancing supply chain security [2] Group 3: Market Presence - The company's products are sold in over 100 countries, with nearly 50% of revenue coming from the European market [3] - The company has successfully participated in notable international projects, showcasing its brand influence and delivery capabilities in the global lighting market [3] Group 4: Asset Restructuring and Integration - Following the acquisition of Osram's Digital Systems Eurasia business in 2023, the company has been optimizing integration paths and enhancing operational synergy [4] - The company is implementing management changes and building a process-oriented organizational structure to improve cross-departmental collaboration [4] - Initial integration effects are visible in brand collaboration, product expansion, and supply chain alignment [4] Group 5: New Energy Business Development - The company is expanding its new energy business, focusing on energy storage and charging products, while maintaining steady growth in its LED core business [5] - New energy products include commercial and residential energy storage solutions, with some products already receiving international certifications [5] - The company has increased its stake in Shanghai Gongshun New Energy Technology Co., enhancing its collaborative potential in the new energy ecosystem [5] Group 6: Strategic Direction - The ongoing development in the new energy sector reflects the company's proactive strategy to build new growth curves under the "dual carbon" goals [6] - The integration of LED lighting, intelligent systems, and energy storage is accelerating the company's progress towards high-quality development [6]

证券代码：002963 证券简称：豪尔赛 豪尔赛科技集团股份有限公司 投资者关系活动记录表 编号：2025-001 投资者关系活动 类别 特定对象调研 分析师会议 媒体采访 业绩说明会 新闻发布会 路演活动 现场参观 其他 参与单位名称及 人员姓名 投资者网上提问 时间 2025 年 4 月 25 日(星期五)15:00-17:00 地点 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net）采 用网络远程的方式召开业绩说明会 上市公司接待人 员姓名 1、豪尔赛 董事长兼总经理戴宝林 2、豪尔赛 董事兼副总经理、董事会秘书、财务总监闻国平 3、豪尔赛 独立董事张善端 投资者关系活动 主要内容介绍 投资者提出的问题及公司回复情况 公司就投资者在本次说明会中提出的问题进行了回复： 1、作为独立董事在公司日常运作中是如何有效介入的？能 否真正保护中小股东利益？ 尊敬的投资者您好，作为独立董事，我们严格按照证监会相 关规定履行独立董事职责，积极出席相关会议，认真审议董事会 各项议案，对公司治理及经营管理进行监督检查，充分发挥了独 立董事的作用，维护全体股东特别是中小股东的合法权益。感谢 您的关注 ...

Group 1 - The new general manager of Inventronics, Huang Meilan, has been appointed after a six-month vacancy following the retirement of F Marshall Miles [2][4] - Huang Meilan has a strong background in the company, having held various positions since joining in 2009, and currently holds 50,000 shares from the company's equity incentive plan [4] - The company aims to strengthen its LED lighting business and expand into the renewable energy sector, establishing a dual-core driving strategy [8] Group 2 - In 2024, Inventronics achieved a total revenue of approximately 2.668 billion yuan, a year-on-year increase of 1.41%, and a net profit of 9.0718 million yuan, marking a significant turnaround [6] - The integration of Osram's DS-E business into Inventronics has enhanced its competitiveness in key areas despite the challenges faced during the integration process [6] - The company plans to focus on increasing market share in the LED lighting sector while actively developing its renewable energy business, particularly in energy storage [8]

Group 1 - The company achieved a revenue of 1.212 billion yuan in 2024, a year-on-year decrease of 7.12%, and a net profit attributable to shareholders of 302 million yuan, down 17.61% year-on-year [1] - In Q4 2024, the company reported a revenue of 266 million yuan, a year-on-year decline of 9.64%, and a net profit of 43 million yuan, down 22.15% year-on-year [1] - The gross profit margin for 2024 was 50.37%, an increase of 0.41 percentage points year-on-year, while the net profit margin was 25.20%, a decrease of 3.10 percentage points year-on-year, primarily due to increased expenses during the SGM investment phase [1] Group 2 - The company is actively expanding overseas opportunities by acquiring the assets of Danish SGM, enhancing its international sales channels to achieve efficient service in key markets [2] - Danish SGM is a globally recognized company in architectural and stage lighting, with products used in notable projects such as the LV headquarters in Paris and Universal Studios in Orlando [2] - The company expects net profits attributable to shareholders to reach 332 million yuan, 391 million yuan, and 451 million yuan in 2025, 2026, and 2027 respectively, with corresponding price-to-earnings ratios of 13, 11, and 9 times [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603679 证券简称：华体科技 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，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。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一) 主要会计数据和财务指标 单位：元 币种：人民币 (二) 非经常性损益项目和金额 √适用 □不适用 单位:元 币种:人民币 对公司将《公开发行证券的公司信息披露解释性公告第1号——非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号——非经常性 损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 □适用 √不适用 (三) 主要会计数据、财务指标发生变动的情况、原因 √适用 □不适 ...

"零容忍"严打侵权乱象，处理侵权线索和案件近千起 照明行业正处于转型升级的关键期，严打侵权假冒行为刻不容缓。对此，雷士照明勇担行业表率，成立 了专项工作组，通过刑事报案、行政投诉、民事诉讼等多元化手段，仅在2024年就处理了146起行政及 刑事维权案件，并跟进处理互联网平台线索及案件近千起，处理案值累计超亿元人民币。近期，雷士照 明正在集中开展对山东某侵权公司未经许可，擅自授权第三方生产、销售侵权产品的专项整治行动，对 该侵权公司的17家非法代工厂及百余家侵权店铺采取了维权行动，有效打击并震慑假冒侵权行为。 知识产权保护已成为我国驱动高质量发展、维护公平营商环境的关键力量。面对转型挑战，传统企业需 借助知识产权赋能发展，而照明行业领导品牌雷士照明的实践则提供了典型范例。雷士照明通过专利战 略布局、严打侵权行为和提升商标价值，构建起严密的知识产权保护体系，不仅夯实了企业的核心竞争 力，更有效保障了消费者权益，为行业健康发展注入创新动能。 "双线布局"铸就技术壁垒，专利申请突破2000件 雷士照明始终将知识产权保护与创新作为发展的关键基石，并制定了"基础研发与尖端创新"并行的专利 战略布局。目前，雷士照明累计申请 ...

Investment Rating - The investment rating for Foshan Lighting is maintained at "Outperform" [1] Core Views - The company's revenue and performance in Q1 2025 met market expectations, with total revenue of 21.45 billion yuan, a year-on-year decrease of 15%, and a net profit attributable to shareholders of 0.65 billion yuan, down 23% year-on-year [6] - The company continues to optimize its industrial layout through investments and acquisitions, achieving breakthroughs in existing businesses, particularly in automotive lighting and marine lighting sectors [6] - A slight downward adjustment in profit forecasts has been made, with expected net profits of 3.35 billion yuan for 2025 and 3.96 billion yuan for 2026, reflecting year-on-year changes of -24.9% and +18.3% respectively [6] Financial Data and Profit Forecast - Total revenue for 2024 is projected at 90.48 billion yuan, with a slight year-on-year decline of 0.1% [5] - The gross profit margin for Q1 2025 improved to 19.59%, an increase of 1.29 percentage points year-on-year [6] - The company anticipates a net profit of 4.27 billion yuan for 2027, representing a year-on-year increase of 7.7% [6]

Core Viewpoint - The company, Mulinson Co., Ltd., focuses on lighting brand development and LED source technology innovation, aiming to provide efficient, energy-saving, and environmentally friendly lighting products and solutions globally [3][4]. Company Overview - Mulinson is engaged in various lighting sectors, including residential, commercial, industrial, and outdoor lighting, establishing a complete industry chain from LED packaging to lighting applications [3]. - The company emphasizes smart lighting, increasing R&D investment to integrate smart manufacturing with a global sales network, utilizing IoT and big data for advanced lighting system functionalities [3][4]. Brand Business - The company promotes its global brand matrix, including "LEDVANCE" and "SYLVANIA," establishing a strong market presence in over 50 countries [4][5]. - The domestic brand "Mulinson" has built a strong reputation over 20 years, with products widely used in smart lighting, plant lighting, photovoltaic energy storage, and air purification [5][6]. Innovation and Market Strategy - Mulinson focuses on innovation in product design, launching products in health lighting, smart lighting, and sustainable lighting, aligning with global trends [5][6]. - The company is expanding its market presence in emerging markets while optimizing existing channel layouts and enhancing digital operations [6][7]. Smart Manufacturing - Mulinson has developed an advanced smart manufacturing system that integrates automation, intelligent control, data analysis, and flexible manufacturing [9]. - The company is investing in cutting-edge technologies like Mini/MicroLED and small-pitch displays to enhance product quality and production efficiency [9][10]. Financial Highlights - For the fiscal year 2024, the company reported a net profit attributable to shareholders of approximately 373.79 million yuan, with a proposed cash dividend of 0.50 yuan per 10 shares [33][34]. - The company plans to use up to 3.8 billion yuan of its own funds for entrusted wealth management, ensuring operational needs are met [36][37]. Shareholder Information - The company will hold its annual shareholder meeting on May 20, 2025, to discuss various proposals, including the profit distribution plan and the appointment of the accounting firm for 2025 [52][53].

Financial Data and Key Metrics Changes - The company achieved net sales of $132.5 million for Q3 2025, representing a 22% year-over-year growth [8][15] - Adjusted EBITDA for the quarter was $11.3 million, with adjusted earnings per share of $0.20 [15] - Cash flow generated in the third quarter was $4.7 million, increasing the trailing twelve months cash flow to approximately $35 million [16] Business Line Data and Key Metrics Changes - The Display Solutions segment saw a 70% increase in sales year-over-year, with 15% organic growth [8][17] - Lighting sales lagged year-over-year but experienced a 110 basis point improvement in operating margins [9][19] - The Lighting segment's backlog increased by 18% compared to the previous year, indicating a strong rebound in large project order activity [10][19] Market Data and Key Metrics Changes - The Refueling C store vertical experienced a 60% increase in sales year-over-year, driven by ongoing customer graphics programs [17] - Sales of refrigerated and non-refrigerated display case products to the grocery vertical grew by 20% despite order fulfillment challenges [17] Company Strategy and Development Direction - The company is focused on onshoring and reshoring manufacturing, currently standing at 70% domestic sourcing and 30% foreign sourcing [11] - The acquisition of Canada's Best Store Fixtures is part of the strategy to enhance capabilities and market presence [7][16] - The company aims to leverage its unique integrated solutions approach to differentiate itself from competitors [49][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in regaining margins as customer demand stabilizes and operational efficiencies improve [7][10] - The company anticipates continued favorable order rates, although performance may remain choppy due to the lengthening quote-to-order conversion cycle [19][20] - Management remains optimistic about the market outlook, citing a strong backlog and recovery in lighting orders [46][67] Other Important Information - The company is actively pursuing both incremental and transformational M&A opportunities to enhance growth [55][56] - The product development team continues to release over 30 new products annually, indicating a strong commitment to innovation [58][60] Q&A Session Summary Question: Can you provide more details on fluctuating demand levels and customer schedules? - Management noted that fluctuating demand is primarily around grocery, with improvements in stability observed since early April [24][25] Question: What is the margin impact from production inefficiencies? - Management estimated a margin impact of 200 to 250 basis points due to scheduling disruptions, primarily in the grocery vertical [29][31] Question: How is the company managing the tariff environment? - Management indicated that they have established alternative sourcing and are monitoring pricing impacts due to tariffs, ensuring costs are captured appropriately [33][35] Question: Are there opportunities for cross-selling between display and lighting segments? - Management confirmed that there are significant cross-selling opportunities between display solutions and lighting customers, particularly in vertical markets [40][41] Question: What is the company's acquisition strategy moving forward? - Management stated that they remain active in M&A, focusing on both incremental and transformational opportunities to enhance business capabilities [54][56]

Core Viewpoint - The lighting industry in China is facing significant transformation pressures due to weak domestic demand and shrinking external demand, with key indicators showing a decline in activity and profitability [1][2]. Industry Overview - The China Light Industry Federation reports that in early 2025, several core indicators for the lighting industry have entered a "warning zone," with the lighting prosperity index and revenue prosperity index falling into a "cooling zone," indicating insufficient overall industry activity [1]. - The profit prosperity index has dropped significantly, with a year-on-year decline of 36 percentage points in February alone [1]. - The export value of lighting products in the first quarter of this year is approximately $11.8 billion, reflecting a year-on-year decrease of about 8% [1]. Market Opportunities - The aging population in China presents a new growth engine for the economy, with over 300 million people aged 60 and above by 2024, accounting for 22% of the total population [2]. - The State Council has issued its first policy document on the "silver economy," recognizing the consumption capacity and demand of the elderly population, which is projected to be a trillion-dollar market [2]. Product Development - Signify has launched the Philips LumCare Anrui series solutions, focusing on the lighting needs of the elderly in China, marking the beginning of increased investment in aging-friendly lighting products [3]. - The company is also applying for subsidies for aging-friendly products in Shanghai [3]. Technological Advancements - The lighting industry is experiencing a shift towards smart lighting, with traditional products evolving into comprehensive solutions [4][5]. - The integration of AI and Time-of-Flight (ToF) sensors is seen as a key technological advancement, enabling machines to understand 3D spaces and enhancing interaction across various sectors [5][6]. Strategic Collaborations - Signify aims to build a smart ecosystem by collaborating with local companies, recognizing the need for partnerships in the Internet of Things (IoT) sector [7]. - The joint venture with Xiaomi, Feihui Smart Lighting, has shown rapid growth, outperforming the overall lighting market [7]. - The company emphasizes that collaboration strategies will depend on the compatibility and needs of potential partners [7].