On the evening of March 8, Tospo Lighting (603303.SH) released its 2024 annual report, demonstrating resilience despite a sluggish global economic recovery and intensifying industry competition. The company reported annual revenue of 4.431 billion RMB, a 5.66% year-on-year decline, with net profit attributable to shareholders reaching 347 million RMB, down 7.73%. However, adjusted net profit (excluding non-recurring items) increased by 0.83% to 299 million RMB. Tospo also maintained a strong operating cash flow of 585 million RMB, highlighting the resilience of its core business. The report underscores the company’s strategic focus on expanding residential lighting, strengthening commercial lighting, and specializing in automotive lighting, which has continuously enhanced its competitive edge and sustainable growth.
On March 6, Tospo approved its 2024 profit distribution plan, proposing a cash dividend of 7.40 RMB per 10 shares (pre-tax), totaling 346 million RMB, accounting for 99.65% of its net profit for 2024. Over the past three years, Tospo has distributed cumulative dividends of 663 million RMB, demonstrating its strong commitment to shareholder returns.
Tospo Lighting is a high-tech enterprise integrating R&D, production, sales, and services, specializing in general lighting while expanding into automotive lighting. The company’s product portfolio includes residential lighting, commercial lighting, and automotive lighting, catering to both consumer and professional markets.
Core Business Segments
- General Lighting: In 2024, Tospo’s general lighting segment generated 3.785 billion RMB, accounting for 85.42% of total revenue, reaffirming its status as a key business pillar. The company retained its leadership in the residential lighting sector with balanced global market expansion. Tospo continues to enhance domestic service capabilities while rapidly building overseas localized services, supporting high-quality international growth. Domestically, Tospo is deepening its presence in commercial lighting, while expanding its footprint in road lighting and smart city solutions.
- Automotive Lighting: In 2024, Tospo’s automotive business generated 596 million RMB, focusing on vehicle lighting and onboard controllers. Several projects entered mass production, with newly awarded projects reaching record highs. The company achieved breakthroughs in lighting assemblies and OEM clients, securing a strategic partnership with Leapmotor. Tospo’s customer portfolio includes Panasonic, HASCO Vision, Wanxiang, Marelli, and its end-user brands cover Porsche, Audi, Volkswagen, Toyota, Li Auto, Leapmotor, Geely, and more.
Innovation & R&D Leadership
According to the annual report, Tospo invested 172 million RMB in R&D in 2024, accounting for 3.87% of total revenue. The company obtained 123 new patents (including 32 invention patents), bringing its total patent portfolio to 773 (23 overseas patents), positioning it as an industry leader in technology reserves. Tospo operates provincial-level academician and postdoctoral research centers, along with a provincial-level enterprise technology center, establishing a three-tier innovation system.
As the world shifts toward green energy and automotive intelligence, Tospo Lighting is leveraging its technological expertise and global expansion strategy to embark on a high-quality growth trajectory.
