Core Viewpoint - The company announced the approval of a proposal to use its own funds to pay for part of the fundraising project and to replace it with equivalent fundraising funds, specifically for the "Phase II Expansion Project of the Performing Arts Lighting Equipment Production Base" [2] Group 1 - The fourth meeting of the fourth board of directors will be held on September 22, 2025 [2] - The implementation entity for the fundraising project is the company's wholly-owned subsidiary, Jiangmen Haoming Electronics Co., Ltd. [2] - The funds replaced by the fundraising will be treated as funds used for the fundraising project [2]

Group 1 - The core viewpoint of the article is that Haoyang Co., Ltd. (SZ 300833) is actively engaging with investors through a scheduled research meeting, indicating a focus on transparency and investor relations [1] - Haoyang Co., Ltd. reported that its revenue composition for the year 2024 will be entirely from performance lighting equipment, with a 100.0% share [1] - As of the report, Haoyang Co., Ltd. has a market capitalization of 6 billion yuan [1]

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the overall sentiment appears positive based on the analysis of growth potential and market conditions. Core Insights - The company is gradually establishing a bottom line with continuous brand expansion, supported by optimistic downstream demand and a recovery in orders from both domestic and international markets [1][2]. - The second quarter revenue was under pressure primarily due to significant declines in the U.S. market caused by tariff disruptions, while non-U.S. regions showed stable performance [2]. - The company is expected to benefit from new product launches and a recovery in customer orders as tariff impacts diminish, leading to a normalization of overall shipment and order volumes [2]. - The equipment update cycle is anticipated to release theoretical demand gradually from 2025, with the new SGM brand expected to complement existing offerings and accelerate market penetration [2]. Financial Summary - The company's total revenue for 2023 is projected at 1,305 million, with a year-on-year growth rate of 6.7%. However, a decline is expected in 2024 and 2025, with revenues of 1,212 million and 1,119 million respectively [4][7]. - The net profit attributable to the parent company is forecasted to be 366 million in 2023, decreasing to 302 million in 2024 and 211 million in 2025, before recovering to 394 million in 2026 and 502 million in 2027 [4][7]. - The gross margin is expected to remain stable and increase from 49.6% in 2023 to 53.0% by 2027, indicating strong product and brand barriers [4][7]. - The projected earnings per share (EPS) are 2.89 in 2023, dropping to 1.66 in 2025, and then rising to 3.97 by 2027 [4][7]. Market Outlook - The company maintains confidence in the growth trend for the second half of 2025, supported by a strong increase in fan numbers and stable performance in the North American market, alongside robust demand in Europe and Asia-Pacific [1][2]. - The anticipated recovery in orders and the introduction of new products are expected to enhance profitability, with net profit margins projected to improve as external pressures such as tariffs lessen [3][4].

Group 1 - The company, Haoyang Co., Ltd. (SZ 300833), announced that it will participate in an investor survey on August 27, 2025, with the company secretary, Lao Jiewei, addressing investor questions [1] - For the year 2024, Haoyang Co., Ltd.'s revenue composition is entirely from performance lighting equipment, accounting for 100.0% [2] - As of the latest report, Haoyang Co., Ltd. has a market capitalization of 4.9 billion yuan [3]

Summary of Key Points Core Viewpoint - The company has decided to postpone the expected completion dates for several fundraising investment projects due to various external and internal factors affecting the investment progress, while maintaining the original investment amounts and project contents [3][6][9]. Group 1: Fundraising Overview - The company raised a total of RMB 1,098,161,380.00 from the public offering of 21,082,000 shares at a price of RMB 52.09 per share, with the funds deposited in a designated account as of May 14, 2020 [1]. - A tripartite supervision agreement was signed with the underwriting institution and a bank to manage the raised funds [1]. Group 2: Project Status and Adjustments - The company has adjusted the expected completion dates for the following projects: - "Upgrading and Expanding the Performing Arts Lighting Equipment Production Base" and "Domestic Marketing and Product Display Platform Upgrade" to December 31, 2027 - "Phase II Expansion of the Performing Arts Lighting Equipment Production Base" to December 31, 2027 [4][5]. - The total amount of funds used for these projects as of June 30, 2025, is RMB 60,165.12 million, with a total commitment of RMB 99,771.34 million [5]. Group 3: Reasons for Delay - The delay is attributed to economic adjustments, slower growth rates, and uncertainties in international trade, which have impacted the investment process and project timelines [6]. - The company has taken a cautious approach in planning the use of raised funds, considering the actual needs and market conditions [6]. Group 4: Impact of Delay - The postponement of project timelines does not alter the total investment amounts, project contents, or implementation entities, and is not expected to have a significant impact on the company's current operations [6][9]. - The board of directors and independent directors have approved the delay, affirming that it aligns with the company's development plans and regulatory requirements [8][9].

Group 1 - The core viewpoint of the articles highlights the booming concert economy, which has significantly boosted the performance of companies in the entertainment and related sectors [1][2][3] - Haoyang Co., a leading global stage lighting company, reported a revenue of 709 million yuan in the first half of 2023, representing a year-on-year increase of 24.16%, and a net profit of 223 million yuan, up 27.12% year-on-year [1] - The concert industry has seen a remarkable recovery, with a 400.86% increase in performance events and a 673.49% rise in ticket revenue in China during the first half of 2023 [2] Group 2 - The concert economy is driven by the increasing disposable income of residents and the upgrading of cultural consumption, particularly among the younger generation [3] - Companies like Zhouming Technology and Leyard also reported growth, with Zhouming achieving a revenue of 3.299 billion yuan, up 4.21%, and a net profit of 221 million yuan, up 81.33% [2] - Companies are actively expanding their presence in the concert sector, with Haoyang Co. focusing on developing products tailored to domestic market needs [3]

Group 1: Company Performance and Sales - In 2024, the company's sales volume of performance equipment decreased from 93,400 units in 2023 to 89,800 units, with a sales rate dropping below 90% [1] - The company's revenue for 2024 was approximately RMB 1.212 billion, with a net profit of about RMB 302 million, reflecting a year-on-year revenue decline of 7.12% [9] - The first quarter of 2025 saw a significant decline in both revenue and net profit due to the ongoing investment in the newly acquired Danish company SGM, which has led to increased costs [2] Group 2: Market Strategy and Customer Concentration - The top five customers accounted for 56.28% of the total annual sales, raising concerns about the stability of the company's operations [2] - The company plans to enhance its domestic market presence, which currently only accounts for 11.21% of sales in 2024, by integrating technology and market resources [6] Group 3: Research and Development - In 2024, the company's R&D investment reached RMB 85.85 million, representing a year-on-year increase of 51.05% [8] - The company aims to maintain or improve its gross margin and operational quality through continuous product innovation and development [4] Group 4: Competitive Advantages and Future Plans - The company holds significant competitive advantages, including product and brand recognition, with 119 new patents granted in 2024, including 33 domestic and foreign invention patents [5] - Future growth strategies include expanding product lines and enhancing market penetration through continuous innovation and deeper collaboration with existing customers [5]