（记者 曾健辉） 每经头条（nbdtoutiao）——"9·24"一周年，A股总市值破116万亿元！四大变革重塑中国资本市场新生 态 每经AI快讯，海洋王9月25日晚间发布公告称，本激励计划拟授予的激励对象共计8人，涉及的标的股 票来源为公司回购的本公司人民币A股普通股股票；拟向激励对象授予的限制性股票总量为约397.81万 股，约占本激励计划草案公告时公司股本总额约7.71亿股的0.52%；限制性股票的授予价格为每股3.72 元，即满足授予条件后，激励对象可以每股3.72元的价格购买获授的限制性股票，有效期为自限制性股 票授予登记完成之日起至激励对象获授的限制性股票全部解除限售或回购注销完毕之日止，最长不超过 36个月。 ...

Market Overview - The lighting equipment sector experienced a decline of 1.49% on September 25, with Lianyu Co. leading the drop [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Individual Stock Performance - Xiaolan Co. (002723) closed at 9.40, up 1.08% with a trading volume of 207,000 shares and a turnover of 193 million yuan [1] - Sanxiong Aurora (300625) closed at 11.97, down 0.58% with a trading volume of 15,400 shares and a turnover of 18.51 million yuan [1] - OPPLE Lighting (603515) closed at 17.25, down 0.81% with a trading volume of 9,974 shares and a turnover of 17.32 million yuan [1] - ST Xingguang (002076) closed at 1.81, down 1.09% with a trading volume of 122,210 shares and a turnover of 40.41 million yuan [1] - Lida Xin (605365) closed at 14.93, down 1.45% with a trading volume of 21,300 shares and a turnover of 32.02 million yuan [1] - Ocean King (002724) closed at 7.37, down 1.60% with a trading volume of 57,900 shares and a turnover of 43.02 million yuan [1] - Foshan Lighting (000541) closed at 6.37, down 1.70% with a trading volume of 142,700 shares and a turnover of 91.34 million yuan [1] - Min Explosive Optoelectronics (301362) closed at 43.31, down 1.79% with a trading volume of 9,603 shares and a turnover of 41.98 million yuan [1] - Debang Lighting (603303) closed at 13.19, down 2.01% with a trading volume of 13,100 shares and a turnover of 17.48 million yuan [1] - Sunshine Lighting (600261) closed at 3.77, down 2.08% with a trading volume of 546,400 shares and a turnover of 208 million yuan [1] Capital Flow Analysis - The lighting equipment sector saw a net outflow of 107 million yuan from institutional investors, while retail investors experienced a net inflow of 76.26 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional selling and retail buying [2] Detailed Capital Flow by Stock - Sanxiong Aurora (300625) had a net inflow of 2.74 million yuan from institutional investors, while retail investors saw a net outflow of 1.02 million yuan [3] - Min Explosive Optoelectronics (301362) had a net inflow of 0.86 million yuan from institutional investors, with a net inflow of 0.40 million yuan from retail investors [3] - OPPLE Lighting (603515) experienced a net outflow of 0.44 million yuan from institutional investors, while retail investors had a net inflow of 0.11 million yuan [3] - Debang Lighting (603303) faced a net outflow of 1.46 million yuan from institutional investors, but retail investors had a net inflow of 2.44 million yuan [3] - Ocean King (002724) had a significant net outflow of 3.50 million yuan from institutional investors, with retail investors seeing a net inflow of 2.06 million yuan [3] - Lida Xin (605365) experienced a net outflow of 5.54 million yuan from institutional investors, while retail investors had a net inflow of 3.14 million yuan [3] - ST Xingguang (002076) faced a net outflow of 9.30 million yuan from institutional investors, with retail investors seeing a net inflow of 4.36 million yuan [3] - Foshan Lighting (000541) had a net outflow of 10.19 million yuan from institutional investors, while retail investors had a net inflow of 5.93 million yuan [3] - Qingshang Co. (002638) experienced a net outflow of 10.79 million yuan from institutional investors, with a net inflow of 19.18 million yuan from retail investors [3] - Xiaolan Co. (002723) faced a net outflow of 17.98 million yuan from institutional investors, while retail investors had a net inflow of 3.27 million yuan [3]

Group 1 - The core point of the news is that Lianyu Co., Ltd. experienced a 5.01% drop in stock price, closing at 46.80 yuan per share, with a trading volume of 195 million yuan and a turnover rate of 16.79%, resulting in a total market capitalization of 3.426 billion yuan [1] - Lianyu Co., Ltd. is based in Shenzhen, Guangdong Province, and was established on February 16, 2012. The company specializes in the research, production, and sales of medium and high-power LED lighting products [1] - The revenue composition of Lianyu Co., Ltd. is as follows: LED lighting products account for 88.43%, accessories 6.55%, LED light sources 4.80%, and others 0.22% [1] Group 2 - Among the top ten circulating shareholders of Lianyu Co., Ltd., a fund under Nuoan Fund ranks as a significant shareholder. The Nuoan Multi-Strategy Mixed A Fund (320016) entered the top ten circulating shareholders in the second quarter, holding 241,800 shares, which represents 1% of the circulating shares [2] - The Nuoan Multi-Strategy Mixed A Fund (320016) has a current scale of 1.399 billion yuan and has achieved a year-to-date return of 58.86%, ranking 694 out of 8173 in its category. Over the past year, it has returned 110.58%, ranking 367 out of 8003 [2] Group 3 - The fund managers of Nuoan Multi-Strategy Mixed A Fund are Kong Xianzheng and Wang Haichang. Kong has a tenure of 4 years and 304 days, with a total fund asset scale of 4.607 billion yuan, achieving a best return of 69.77% and a worst return of -16.74% during his tenure [3] - Wang has a tenure of 3 years and 66 days, managing a fund asset scale of 2.529 billion yuan, with a best return of 57.83% and a worst return of -18.8% during his tenure [3]

Core Viewpoint - The stock price of Debang Lighting has experienced fluctuations, with a recent decline despite an overall increase this year, indicating potential volatility in the market [1][2]. Group 1: Stock Performance - As of September 25, Debang Lighting's stock price was 13.19 CNY per share, down 2.01% during the trading session [1]. - Year-to-date, the stock has increased by 26.63%, but it has seen a decline of 3.03% over the last five trading days and 13.63% over the last twenty days [2]. - The stock has appreciated by 15.08% over the past sixty days [2]. Group 2: Financial Performance - For the first half of 2025, Debang Lighting reported a revenue of 2.152 billion CNY, reflecting a year-on-year growth of 0.40% [2]. - The net profit attributable to shareholders was 143 million CNY, which represents a year-on-year decrease of 19.66% [2]. Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders was 9,531, a decrease of 4.72% from the previous period [2]. - The average number of circulating shares per shareholder increased by 4.95% to 50,041 shares [2]. - The company has distributed a total of 1.579 billion CNY in dividends since its A-share listing, with 963 million CNY distributed over the past three years [3]. Group 4: Institutional Holdings - As of June 30, 2025, the fourth largest circulating shareholder was Huaxia Industry Prosperity Mixed Fund, holding 11.4637 million shares, a decrease of 2.4985 million shares from the previous period [3]. - Hong Kong Central Clearing Limited was the fifth largest circulating shareholder, holding 5.8028 million shares, down by 204,940 shares [3].

Core Insights - The lighting equipment sector experienced a decline of 0.66% on September 24, with Xiaosong Co. leading the drop [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Sector Performance - Notable gainers in the lighting equipment sector included: - Lianyu Co. (001326) with a closing price of 49.27, up 8.29% and a trading volume of 65,800 shares [1] - Sanxiong Aurora (300625) at 12.04, up 4.06% with a volume of 28,200 shares [1] - Sunshine Lighting (600261) at 3.85, up 3.77% with a volume of 1,079,300 shares [1] - Other companies with positive performance included: - Minexplosion Optoelectronics (301362) at 44.10, up 1.85% [1] - Lida Xin (605365) at 15.15, up 1.27% [1] Capital Flow - The lighting equipment sector saw a net inflow of 15.84 million yuan from institutional investors, while retail investors experienced a net outflow of 50.63 million yuan [2][3] - Key capital flows for selected companies included: - Lianyu Co. with a net inflow of 30.15 million yuan from institutional investors [3] - Sunshine Lighting with a net inflow of 15.58 million yuan from institutional investors [3] - Sanxiong Aurora had a slight net outflow from both institutional and retail investors [3]

Market Overview - On September 22, the lighting equipment sector rose by 0.38% compared to the previous trading day, with Greely leading the gains [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Stock Performance - Greely (831641) closed at 23.26, with a significant increase of 9.67% and a trading volume of 76,700 shares, amounting to a transaction value of 170 million yuan [1] - Other notable performers included: - Qingshang Co. (002638) at 2.70, up 6.30% with a volume of 1.6048 million shares [1] - Hengtai Lighting (873339) at 10.89, up 5.01% with a volume of 30,700 shares [1] - Sunshine Lighting (600261) at 3.66, up 3.39% with a volume of 705,700 shares [1] Capital Flow - The lighting equipment sector saw a net inflow of 49.65 million yuan from institutional investors, while retail investors experienced a net outflow of 92.69 million yuan [2][3] - The breakdown of capital flow for selected stocks showed: - Qingshang Co. had a net inflow of 65.48 million yuan from institutional investors [3] - Lianhe Co. (001326) had a net inflow of 7.75 million yuan from institutional investors [3] - Sunshine Lighting experienced a net outflow of 4.57 million yuan from retail investors [3]

Market Overview - On September 18, the lighting equipment sector declined by 1.32%, with Xiaosong Co. leading the drop [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Stock Performance - Notable gainers included: - Lianyu Co. (001326) with a closing price of 42.70, up 4.53% on a trading volume of 43,000 shares and a turnover of 183 million yuan [1] - Greer (831641) with a closing price of 21.73, up 4.52% on a trading volume of 75,300 shares and a turnover of 164 million yuan [1] - Major decliners included: - Xiaosong Co. (002076) with a closing price of 1.91, down 1.55% on a trading volume of 456,000 shares and a turnover of 88.51 million yuan [1] - Sunshine Lighting (600261) with a closing price of 3.58, down 1.65% on a trading volume of 376,100 shares and a turnover of 136 million yuan [1] Capital Flow - The lighting equipment sector experienced a net outflow of 52.33 million yuan from institutional investors, while retail investors saw a net inflow of 15.45 million yuan [2] - The overall capital flow for individual stocks showed mixed results, with some stocks attracting significant retail interest despite the overall decline in the sector [2][3] Individual Stock Capital Flow - Qingshang Co. (002638) had a net inflow of 16.98 million yuan from institutional investors, while it faced a net outflow of 8.58 million yuan from speculative funds [3] - Sunshine Lighting (600261) saw a net outflow of 13.82 million yuan from institutional investors, but a net inflow of 11.70 million yuan from retail investors [3] - ST Xingguang (002076) experienced a significant net outflow of 12.87 million yuan from institutional investors, while it attracted a net inflow of 6.13 million yuan from retail investors [3]

Group 1 - The lighting equipment sector increased by 0.11% on September 17, with Lianyu Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] - Lianyu Co., Ltd. had a closing price of 40.85, with a rise of 4.82% and a trading volume of 34,700 shares [1] Group 2 - The main funds in the lighting equipment sector experienced a net outflow of 50.91 million yuan, while retail investors saw a net inflow of 23.83 million yuan [3] - Speculative funds had a net inflow of 27.08 million yuan into the sector [3]

Core Viewpoint - The company is optimistic about the prospects of plant lighting applications and is continuously investing in the research and development of new materials and technologies for plant lighting [1] Group 1: Company Developments - The company recently launched two new driver power supplies, 1000NP and 1200NP/NP-G, which are applicable for both plant lighting and sports lighting [1] - These new products feature a global universal voltage range, high efficiency with low heat consumption, multiple protections, integrated power supply, and smart light control [1] Group 2: Product Capabilities - The new driver power supplies can meet the photosynthetic needs of crops in plant factories, achieving high-precision dimming with a ±5% accuracy [1] - The products are designed to precisely match the spectral requirements of plants at different growth stages [1]

Core Insights - The company, Songsheng Co., has developed a plant lighting LED driver power supply that meets global standards and offers high efficiency with low heat consumption [2] - The product features multiple protections, integrated power supply, and smart light control, catering to the photosynthetic needs of crops in plant factories [2] - The driver allows for high-precision dimming with a ±5% accuracy, effectively matching the spectral requirements of plants at different growth stages [2] Company Overview - Songsheng Co. specializes in the research, design, and production of LED driver power supplies for plant lighting [2] - The company's products are applicable in various settings, including plant factories and vertical farms, indicating a broad market potential [2]