截至2025年6月27日收盘，欧普照明（603515）报收于17.75元，较上周的17.29元上涨2.66%。本周，欧 普照明6月26日盘中最高价报17.82元。6月23日盘中最低价报16.9元。欧普照明当前最新总市值132.26亿 元，在照明设备板块市值排名1/12，在两市A股市值排名1213/5151。 本周关注点 公司公告汇总：欧普照明2024年年度权益分派实施，每股现金红利0.90元（含税） 欧普照明股份有限公司发布了2024年年度权益分派实施公告，主要内容如下： 上海市通力律师事务所出具了关于欧普照明股份有限公司差异化分红事项之专项法律意见书，确认本次 差异化分红对每股除权（息）参考价格影响的绝对值在1%以下，不存在损害公司及全体股东利益的情 形。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 A股每股现金红利0.90元（含税） 股权登记日为2025年7月3日，除权（息）日及现金红利发放日均为2025年7月4日 差异化分红送转：是 分配方案经2025年5月28日的2024年年度股东大会审议通过 分配对象为截至股权登记日下 ...

Group 1 - The company held its first meeting of the sixth supervisory board on June 21, 2025, and the meeting was conducted via electronic notification [1] - The supervisory board unanimously elected Ms. Qu Yanqiong as the chairperson of the sixth supervisory board, with a term starting from the approval date until the board's term ends [1] - The voting results for the election were 3 votes in favor, 0 votes against, and 0 abstentions [1] Group 2 - Ms. Qu Yanqiong does not hold any direct or indirect shares in the company and has no relationships with shareholders holding more than 5% of the company's shares [2] - Ms. Qu has not faced any penalties from the China Securities Regulatory Commission or other relevant authorities, nor has she been subject to any criminal investigations or regulatory inquiries [2] - Ms. Qu has not been listed as a dishonest executor by the People's Court and complies with relevant regulations [2]

Group 1 - The Shanghai Composite Index has recently surpassed the annual high set on March 18, 2025, and is approaching the high from October 8, 2024, indicating a significant market movement [1] - There is a noticeable divergence among various sectors, with banking, agriculture, personal care, military, chemical, transportation, and petrochemical industries showing a higher proportion of stocks exceeding their March 18, 2025 closing prices [1] - Conversely, sectors such as steel, electronics, home appliances, telecommunications, computers, and electrical equipment have a lower proportion of stocks exceeding their March 18, 2025 levels [1] Group 2 - In the secondary industry analysis, financial (banking, insurance, diversified finance), military (naval equipment, ground weaponry), agriculture (animal health, agricultural products, planting, feed), precious metals, personal care products, and chemical pharmaceuticals show a higher proportion of stocks exceeding their March 18, 2025 closing prices [4] - Sectors like home appliances, electrical equipment, TMT (television broadcasting, communication services, consumer electronics, semiconductors, optical electronics), general steel, and machinery (engineering machinery, automation equipment) have a lower proportion of stocks exceeding their March 18, 2025 levels [4] - Comparing to the October 8, 2024 closing prices, banking, motorcycles, military (ground weaponry, aerospace equipment), chemicals (plastics, non-metallic materials), and new consumption (entertainment products, personal care products, retail, accessories) show a higher proportion of stocks exceeding their previous levels [4]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has intensified its crackdown on financial fraud, with 128 cases investigated in 2024, focusing on fictitious business activities, abuse of accounting policies, and collusion with third parties [1] Group 1: Regulatory Actions - The CSRC employs various methods such as annual report reviews, on-site inspections, public opinion monitoring, and big data modeling to uncover financial fraud [1] - The case of *ST Changfang serves as a warning to other listed companies considering mergers and acquisitions, highlighting the consequences of financial misconduct [1] Group 2: Case Details - Changfang Group's subsidiary, Kangmingsheng, inflated profits and accounts receivable through unrecorded sales rebates, leading to false disclosures in the 2020 and 2021 annual reports [2] - In 2020, Kangmingsheng understated sales rebate expenses by 7.9778 million, inflating profits by the same amount, and overstated accounts receivable by 148 million, which was 5.4% of Changfang Group's total assets [2] - In 2021, similar actions resulted in an understatement of sales rebate expenses by 5.4873 million, inflating profits and overstating accounts receivable by 158 million, accounting for 9.31% of the total assets [2] Group 3: Management's Defense - Changfang Group claimed that it lost control over Kangmingsheng due to historical issues and external pressures, asserting that the fraudulent activities were not approved by the company [3] - The management emphasized their efforts to strengthen control and cooperate with audits, arguing that they acted in the company's best interest [3][4] - The CSRC acknowledged the management's attempts to rectify the situation but stated that lack of knowledge or participation in the fraud does not exempt them from responsibility [4]

本报讯(记者王镜茹)6月27日公告显示，深圳证券交易所对深圳市长方集团股份有限公司(以下简称"*ST 长方（300301）")及相关当事人给予公开认定等纪律处分的决定。此次处分源于*ST长方及其子公司康 铭盛(深圳)科技有限公司(以下简称"康铭盛")在财务报告中存在虚假记载，严重违反了《创业板股票上 市规则(2020年12月修订)》。 根据深圳证券交易所的处罚文件，*ST长方在2020年和2021年的年度报告中存在重大财务造假行为。具 体包括康铭盛少记销售返利费用，虚增利润，以及虚增应收账款，分别导致*ST长方的利润虚增797.78 万元和548.73万元，占公司利润总额的54.90%和2.02%。 此次处分决定的公布，进一步强调了资本市场对企业信息披露的严格要求，体现了监管部门对于上市公 司财务透明度和管理责任的高度重视。 *ST长方的经营状况亦引发市场关注。2025年第一季度，公司营业收入1.18亿元，同比下滑13.94%；归 属于上市公司股东的净利润为亏损2395.59万元。财务造假事件将对公司声誉和市场信任度造成一定影 响，或公司对未来经营持续产生压力。 该事件涉及的违规人员包括*ST长方时任副董事长 ...

Core Viewpoint - Yiri Technology has demonstrated resilience in maintaining stable revenue despite global trade tensions, highlighting its competitive edge in the professional lighting market, particularly in Europe and the United States [1][2][6]. Company Overview - Yiri Technology reported nearly 1 billion yuan in revenue last year, with foreign trade accounting for nearly 70% of its business, primarily in the U.S. market [1][5]. - The company has established itself as a leading player in the lighting industry, gaining recognition through major events like the Beijing Winter Olympics and various international concerts [1][5]. Market Position and Strategy - Yiri Technology has successfully replaced many Western brands in the lighting sector, with a significant presence in high-profile events such as the Billboard Music Awards and the Eurovision Song Contest [5][6]. - The company emphasizes creativity, innovation, and a robust supply chain as key factors in its competitive strategy, allowing it to maintain a strong market position despite external pressures [2][8]. Technological Innovation - Yiri Technology invests heavily in research and development, with 5% of its total revenue allocated to R&D, resulting in over 200 patents and ongoing applications for additional patents [11][12]. - The company has developed advanced technologies, such as the ResetFree technology for precise lighting control, enhancing its competitive edge in the global market [11]. Industry Trends - The global stage lighting equipment market is projected to grow from approximately $5.8 billion in 2024 to $10 billion by 2030, with Guangdong being a major production base [7]. - The traditional lighting industry in Guangdong is undergoing transformation, integrating technological advancements and exploring new sectors such as electric vehicles and optical displays [12].

Financial Data and Key Metrics Changes - In Q4 2025, revenue was $20.9 million, up from $19.6 million in Q3 2025 but down from $26.4 million in Q4 2024 [14] - Fiscal 2025 revenues totaled $79.7 million, compared to $90.6 million in fiscal 2024, reflecting a decline [14] - The net loss for Q4 2025 was $2.9 million, or $0.09 per share, compared to a net income of $1.6 million, or $0.05 per share in Q4 2024 [19] - Fiscal 2025 net loss increased slightly to $11.8 million, or $0.36 per share, compared to a net loss of $11.7 million, or $0.36 per share in fiscal 2024 [19] - Cash generated from operations improved to $600,000 in fiscal 2025 from negative $10.1 million in fiscal 2024 [19] Business Line Data and Key Metrics Changes - The EV charging business saw a revenue increase of 1837% in Q4 2025, driven by expanded geographic reach and order backlog execution [14] - LED lighting revenues in Q4 2025 and fiscal 2025 decreased by 3322% year-over-year due to reduced project activity and product demand [15] - Electrical Maintenance Services revenue decreased to $4.1 million in Q4 2025 from $5.2 million a year ago, but gross profit margin improved significantly to 18.2% from 4.4% in fiscal 2024 [16][17] Market Data and Key Metrics Changes - The company expects modest growth in LED lighting and electrical maintenance revenues for fiscal 2026, while anticipating flat to slightly lower EV charging revenues due to uncertainty in project funding [21] - The overall gross profit margin increased by 170 basis points to 27.5% in Q4 2025 compared to 25.8% in fiscal 2024, attributed to improvements in maintenance and a higher margin revenue mix in EV charging [17] Company Strategy and Development Direction - The company has reorganized into two commercial business units: Solutions and Partners, to better leverage capabilities across LED lighting, EV charging, and electrical maintenance [9][10] - The Solutions unit focuses on large projects and cross-selling opportunities, while the Partners unit emphasizes product sales through distribution channels [10] - The company aims to enhance leadership and urgency in executing its growth and profitability goals, with a focus on integrating engineering design and project management capabilities [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the need for improved execution on product and service opportunities and emphasized the importance of maintaining customer relationships [6][12] - The company is optimistic about its project pipeline and expects to achieve positive adjusted EBITDA for the full fiscal year 2026 [22] - Management remains cautious about the EV charging segment due to uncertainties in federal funding and project timelines, despite a strong project pipeline [31][38] Other Important Information - The company reduced operating overheads by more than $4 million in fiscal 2025 and plans to implement further reductions in fiscal 2026 [8] - A binding term sheet was executed to address Voltrec earn-out obligations, which includes issuing $1 million in common stock and a cash payment of $875,000 [20] Q&A Session Summary Question: Order trends and expectations for Q2 - Management noted a strong start to the year with orders, particularly in April, and expects this trend to continue [28] Question: Assumptions for EV charging revenue outlook - Management is taking a conservative approach for the EV segment, citing a strong project pipeline but acknowledging potential impacts from federal actions [31][38] Question: Clarification on earn-out obligations - The earn-out opportunity related to the purchase has ended, with remaining obligations tied to stock and cash payments [39] Question: Revenue cadence throughout the quarter - Management expects a more consistent revenue flow throughout the year, with subsequent quarters anticipated to be higher than Q1 [43] Question: Gross margins by business unit - Management expects gross margins to be relatively consistent across business units, with potential for improvement based on cost-saving initiatives [44] Question: Impact of federal government rule changes - Management clarified that while there has been some noise, the company has not been significantly impacted by federal funding issues, particularly in the EV segment [60][61]

"我们已经连续很多年登上央视春晚了。"EK灯光研发总监胡泽洲表示，EK灯光凭借过硬的研发技术和 服务落地能力成为央视春晚的专供战略合作伙伴，其产品也频频出现在春晚、重大赛事和节庆活动等场 景。据了解，作为全球专业灯光领域的龙头企业，近年来，EK灯光在北京冬奥会开幕式、迪拜世博会 中国馆、北京世界园林博览会开幕式等大型活动和场所持续亮相。 今年5月，相关国家部委联合发布《2025-2026年度国家文化出口重点企业目录》，在一众文娱、游戏、 动漫企业中，一家来自中山的专业灯光制造企业也名列其中——广东熠日科技股份有限公司（以下简 称"EK灯光"）。 6月26日，"活力中国调研行"广东主题采访活动来到中山翠亨新区的马鞍岛，走进EK灯光。 "我们替代了很多欧美产品，海外客户对我们的依赖蛮高的。"EK灯光总经理赖锦圣对南都记者说，美 国客户在购买EK灯光产品时，是愿意接受关税的。据了解，EK灯光自2007年成立以来，便一直在专业 照明及控制设备领域深耕，当前，其研发的产品主要面向欧美市场，并广泛应用于高端舞台演出、影视 剧创作、文化旅游等领域。 采写：南都记者 朱唯信 当前，EK灯光正加速品牌与渠道的全球化布局发展。5 ...

Core Viewpoint - The collaboration between NVC Lighting and the China Aerospace Foundation marks a significant advancement in integrating aerospace technology into the civilian lighting industry, establishing a new era of aerospace lighting technology in China [3][5][7]. Group 1: Partnership and Recognition - NVC Lighting was officially designated as a "China Aerospace Industry Partner" by the China Aerospace Foundation on January 10, 2023, highlighting its strong research capabilities and industry position [1][3]. - The establishment of the "China Aerospace Lighting Technology Laboratory" on December 25, 2023, signifies the entry of civilian lighting into the aerospace technology era [3][5]. Group 2: Technological Advancements - The laboratory, co-founded by the China Aerospace Science and Technology Corporation's 510 Institute and NVC Lighting, aims to leverage aerospace technology to enhance lighting solutions for everyday life [5][7]. - The "Aerospace Healthy Light Technology," which focuses on human-centered design, aims to redefine health lighting standards by considering visual, physiological, and emotional effects [7][12]. Group 3: Product Development and Market Impact - NVC Lighting has initiated the development of three aerospace product lines: aerospace eye-care lamps, aerospace sleep aids, and aerospace lighting environments, translating space station lighting technology into civilian applications [8][10]. - The collaboration is expected to revolutionize civilian lighting products through three main cooperation directions: aerospace-grade lighting technology research, aerospace-grade precision standards formulation, and big data for aerospace lighting [8][13]. Group 4: Industry Transformation - The partnership is seen as a shift from price competition to technology competition within the lighting industry, promoting quality upgrades and technological innovation [10][13]. - The integration of aerospace standards with health lighting is anticipated to open new development pathways for the Chinese lighting industry, pushing it towards a "space age" [12][13].

对商业空间而言，灯光质量极其重要，好的灯光不仅可以营造理想的商业空间氛围，为消费者提供视觉和感官上的美好体验，还有利于品牌形象的塑造和传 播。早在1999年，雷士照明便敏锐地察觉到照明的商业价值，提出"商业照明"概念，同时采取多样化的措施，打造商业照明新蓝海。 推出伴生适然光技术，助力健康商业照明 雷士照明创新推出伴生适然光技术，不仅从视觉、生理和情感等方面高度复刻自然光，无限贴近自然光，更充分发挥当前LED光谱技术的优势，对健康照 明、人因照明、智能照明等融合创新，推动照明行业转型升级。 定制化商业空间照明，提升商业空间价值 为了满足不同商业空间的照明需求，雷士照明提供定制化商业空间照明解决方案，从智能灯光设计、灯具安装到运行维护全流程服务一站式到位，涵盖商业 空间不同功能区域，如商场、酒店、办公等，确保商业照明高效落地，而且高端商业场所可以定制会客、观影、休闲等多场景模式，灵活切换光环境，实现 灯光的智能化控制，也降低了商业照明的无效能耗。 雷士照明定制化商业空间照明解决方案通过精心设计的光环境，保证商业环境的亮度和光线均匀度，营造良好的照明体验，让路过的顾客都被店铺的灯光氛 围所吸引，不由自主地走进来， ...