Opple-Lighting-Foshan-Lightin

Recently, Opple Lighting, Foshan Lighting and Sunshine Lighting disclosed their 2025 annual reports. Let’s see how their “scores” are?

Opple Lighting

On April 23, Opple Lighting announced its 2025 annual report. The company's operating income was 6.97 billion yuan, a year-on-year decrease of 1.8%; net profit attributable to the parent company was 920 million yuan, a year-on-year increase of 1.9%; net profit after non-attributable to the parent company was 779 million yuan, a year-on-year increase of 4.4%.

In the fourth quarter, the company's operating income was 2.06 billion yuan, a year-on-year increase of 1.7%; the net profit attributable to the parent company was 344 million yuan, a year-on-year increase of 22.0%; the net profit after deducting non-ownership was 318 million yuan, a year-on-year increase of 30.0%.

Opple Lighting is positioned as a green energy-saving smart lighting enterprise, mainly engaged in the research and development, production and sales of household lighting fixtures, commercial lighting fixtures, light sources and control products, and gradually transforming into a provider of comprehensive solutions for intelligent lighting systems.

The company's operating conditions in 2025 show positive changes. Opple Lighting stated that the company adheres to the corporate mission of "creating value with light", focuses on intelligent lighting application scenarios, integrates AI and digital technologies in the entire operation and management chain through innovative products and solutions, and continues to improve comprehensive competitiveness.

As people's demand for healthy lighting continues to increase, the company continues to explore its health and emotional value based on the physical properties of light. In 2025, the company launched the second-generation SDL smart spectrum technology, which will further expand the range of beneficial light waves on the basis of achieving natural light quality throughout the entire period, allowing lights to create a comfortable visual environment while adding diversified needs in red light band scenarios. The Clear Light 2.0 spectrum jointly developed by the company and Wuhan University, on the basis of meeting the dual 3A white light quality standards, has been verified by physiological and subjective experiments to help relieve anxiety and other effects. In the field of aging-friendly lighting, the company relies on the joint laboratory built with Fudan University, based on field research and scientific certification, to release the white paper "Aging-friendly Light Environment Design Principles Based on Human Factors Lighting" to clarify the design route for aging-friendly lighting and develop targeted spectral formulas.

The company has deeply applied cutting-edge technological achievements to product lines such as lighting, electricians, and electrical appliances. For example, the "Skyview MAX" flagship product launched in 2025 deeply integrates SDL smart spectrum technology with industrial design aesthetics; it launches a new generation of miniaturized spotlights, relying on efficient heat dissipation design and optical platform upgrades to achieve a 40% reduction in volume under the same luminous flux, and a brightness that is 3 times the industry average for the same size... Empowering a better life experience with innovative technology.

This time, the company uses smart lighting solutions to drive channel upgrades and user experience innovation. In terms of the new experience of smart scene-based home lighting, we have opened up the full-link capabilities of hardware products, software systems, and AI design tools, integrated all types of lighting products such as ceiling lamps, decorative lamps, downlights, etc., and equipped with smart switches, smart sunshades, smart sensors, etc., to provide customers with integrated whole-house smart lighting solutions from project design to implementation delivery, and steadily realize the strategic transformation from "selling lamps" to "intelligent lighting environment".

In terms of commercial lighting scenarios, the company applied SDL smart spectrum technology to the first store of a well-known chain catering brand in Shanghai; provided full-stack lighting technology update services for the Chinese factories of the world's leading drive technology companies; provided lighting solutions for the core TOD urban super complex project in the Greater Bay Area; implemented a comprehensive energy-saving renovation demonstration project for the lighting and air conditioning of the Haikou Customs Government Office Building... and created multiple benchmark projects with industry influence.

In 2025, the company will actively promote the implementation of AI technology in scenarios such as customer service and data support, and build an intelligent operation system. The company has built AI online customer service and AI telephone digital people based on large models to realize functions such as real-time retrieval of cross-system knowledge, and simultaneously launched intelligent marketing and promotion tools such as live broadcast digital people, upgrading the enterprise from "process-driven" to "digital intelligence-driven". In daily operations, a question-and-answer intelligent data analysis tool is launched to support business personnel from passively discovering problems to completing data insights easily.

The main business structure remains stable, and regional and product concentration remain unchanged. Lighting application products and other business income accounted for 99.24% of the main business income, and the product structure remained highly concentrated. Domestic region revenue accounted for 89.59%, foreign region revenue accounted for 9.65%, overseas market revenue accounted for a slight increase year-on-year, the overall market layout is still dominated by domestic and foreign countries as supplement. The company adheres to the global independent brand strategy, continues to delve into key overseas regional markets, and relies on its intelligent lighting system solution capabilities to achieve overseas promotion and upgrade from product output to solution empowerment.

Foshan Lighting

Foshan Lighting announced that the company will achieve operating income of 8.797 billion yuan in 2025, a year-on-year decrease of 2.78%; net profit attributable to shareholders of listed companies is 215 million yuan, a year-on-year decrease of 51.85%; non-net profit after deduction is 83.9036 million yuan, a year-on-year decrease of 14.17%.

Since 2021, Foshan Lighting has acquired and controlled Liaowang Auto Lighting, Nationstar Optoelectronics, Hule Electric and Hangxin Aviation. At present, the company's main business mainly includes the research and development, production and sales of general lighting, automotive lighting, LED packaging products, etc.

The report shows that in the face of complex and severe domestic and international economic environments and fierce market competition, guided by the "High Climbing Plan 2.0" and the "Industrial Leap Plan", the business scale has been generally stabilized.

In 2025, the company will first carry out domestic counterattacks to improve quality. In 2025, we will launch a market terminal attack, expand more high-quality outlets using the "special theater" model, win bids for multiple large group and design institute customers, and implement a number of individual projects exceeding one million. Commercial lighting business revenue will increase by 8% year-on-year; AI tools will be launched to optimize the product echelon structure, and e-commerce revenue will increase by more than 20% year-on-year.

The second is to expand overseas operations and break the situation. Accelerating the expansion of the "Belt and Road Initiative", Europe and other regional markets, winning bids for overseas lighting projects such as Ethiopian University, lighting business revenue in the European market and Southeast Asian market increased by 9% and 19% year-on-year, gradually building a diversified overseas market system.

Third, the new track breakout operation is advanced in depth. In terms of the automotive lighting business, we have focused on the mid-to-high-end market and successfully obtained more than 10 new projects for mid-to-high-end models and new modules. Revenue from the automotive lighting business increased by 5.63% year-on-year. In terms of the marine lighting business, we won the bid for the microalgae carbon sequestration project, and the "Zhanjiang Bay No. 1" breeding light control system was successfully delivered. In terms of water, we simultaneously developed the overseas shipbuilding and ship lighting market, and the revenue of the marine lighting business achieved substantial year-on-year growth; in the sports lighting business, we obtained multiple projects and achieved new breakthroughs; in the aging lighting business, two products were selected into the "2025 Product Promotion Catalog for Products for the Elderly" of the Ministry of Industry and Information Technology. In terms of packaging device business, the development potential of the display business in emerging display fields such as automotive glass, cockpit atmosphere, power banks, central control screens, and instrument panels is explored to realize the three-dimensional extension of product application scenarios.

Foshan Lighting will continue to strengthen its technological innovation engine in 2025 and build a joint innovation center by integrating scientific research resources and industrial needs. During the reporting period, the company invested RMB 560 million in R&D and achieved a series of hard-core achievements in cutting-edge technologies such as AI spectrum expert models, deep-sea lighting, and intelligent interactive displays, such as the release of AI optical cryptography technology to realize smart spectrum applications in all scenarios such as home and business; R&D and upgrade of the nationally important "Jiaolong" lighting system, etc. In addition, the brand value has climbed to 47.507 billion yuan, firmly ranking second in the industry, and has been continuously selected as "China's 500 Most Valuable Brands" and "Top 500 Asian Brands".

Sunshine Lighting

Sunshine Lighting announced that the company will achieve operating income of 2.668 billion yuan in 2025, a year-on-year decrease of 15.98%; net profit attributable to shareholders of listed companies is 189 million yuan, a year-on-year decrease of 7.12%;

The main products of Sunshine Lighting include LED lighting products and lighting control systems, covering commercial lighting, home lighting, office lighting, outdoor lighting, track lighting, industrial lighting, educational lighting and other general lighting. It also covers emergency lighting, plant lighting, electrical equipment, air switches, distribution boxes, ventilation fans, bathroom heaters, and small household appliances.

The company stated that in the face of the severe external environment and the pressure on sales revenue, it has achieved substantial improvements in operating quality. The company's product structure continues to be optimized, with the sales proportion of the lighting business increasing to 80.59%, and the proportion of the light source business further declining, in line with the general trend of the industry's transformation from "light source substitution" to "lighting solutions". Progress has been made in the construction of independent brands, the proportion of overseas independent brands continues to increase, and the number and contribution of tens of millions of strategic customers in Danish companies, Xiamen FOB divisions and other units have increased.

In addition, the company has proactively laid out the field of hydrogen energy, cultivated a second growth curve, and established Zhejiang Sunshine Green Hydrogen Technology Co., Ltd. to focus on the research and development of anion exchange membrane electrolyzer technology. In 2025, "double breakthroughs" in market sales of electrolytic cells and test bench products will be achieved.

The company has built a "domestic + overseas" dual-cycle production capacity pattern. There are four major production bases in China: Shangyu in Zhejiang, Xiamen in Fujian, Yujiang in Jiangxi, and Jinzhai in Anhui.

Globalization continues to deepen. Among them, the Thai manufacturing plant will be completed and put into operation in 2024, with an annual production capacity of 5 million units, effectively avoiding US tariff barriers and ensuring supply stability in the North American market. Launch strategic cooperation with Vietnamese lighting companies to form a diversified overseas supply system of "Made in Thailand + Vietnam Cooperation". The warehouse centers in Dallas and Germany will be closed as planned and moved to Los Angeles and Belgium to optimize the efficiency of the overseas logistics network.

In terms of regions, North America and Europe market revenue accounted for 27.54% and 27.17% respectively, totaling 54.71%; Asia accounted for 22.22%, and China’s domestic revenue accounted for 17.25%, continuing the pattern of overseas markets dominating and domestic proportions being relatively stable.