Ocean King reveals: The company has not laid off employees or reduced salaries due to economic pressure

In the first three quarters of 2022, Ocean King achieved revenue of 1.211 billion yuan, a year-on-year decrease of 11.56%; net profit attributable to shareholders of the listed company was 88.1444 million yuan, a year-on-year decrease of 59.75%. Among them, Ocean King's third quarter achieved revenue of 411 million yuan, a year-on-year decrease of 21.74%; net profit attributable to shareholders of the listed company was 18.1238 million yuan, a year-on-year decrease of 85.28%.

Recently, Ocean King held a performance briefing via remote online means to communicate with investors regarding matters of concern to them, including the company's business and the impact of the epidemic. The following are selected questions shared for your reference:

Recently, the epidemic has become severe nationwide again. Does this have a significant impact on your company's product production, supply, and Mingzhihui's construction? What measures has the company taken in response?

Ocean King: The impact of the epidemic on the company is mainly a prolonged and slowed revenue recognition; there is no significant impact on Mingzhihui's business. Once the epidemic subsides, we will accelerate shipments and recognize revenue.

What are the main reasons for the decrease in net profit after deducting non-recurring gains and losses of the company in the third quarter this year?

海洋王：公司第三季度扣非净利润下降主要原因是：首先是疫情导致收入确认时间拉长和放缓；其次是公司并没有因为经济承压进行裁员降薪，还是按照原来既定的计划实施人员投入，以及持续的研发投入。

What are the advantages of Company in the professional lighting market competition?

Ocean King: (1) has been deeply engaged in the industrial lighting field for over twenty years, possessing obvious competitive advantages in product quality, technical R&D, customer accumulation, and brand influence;

(2) Customers purchasing professional lighting typically have two motivations: first, high-quality products; second, better and faster service. The value our company delivers in response to customer needs is as follows:

provides targeted safety, energy saving, environmental protection lighting products and solutions to customers, reducing comprehensive lighting costs for customers and increasing their business revenue. The company adopts a customer-centric

Direct sales model with over 160 service centers and more than 1,000 service departments nationwide, providing immediate response to customers' new and innovative needs whenever issues arise;

(3) Products infused with IoT technology by the company are at the forefront of the industry, allowing them to seize the customer market ahead of competitors and hold a distinct advantage.

In today's Industry structure transformation and upgrading, what development plans does the company have in other related fields?

Ocean King: The company will develop towards lighting equipment, service products, and lighting equipment and service products infused with IoT technology, providing customers with information-based, digital, and intelligent lighting service solutions.

Company participates in the China International Aviation & Aerospace Exhibition for the seventh consecutive time. What advanced technologies can be shared?

Ocean King: The company holds Level 2 confidentiality qualification. Relevant technical details cannot be disclosed.

How is the R&D system and team's business capability of company?

Ocean King: The company has established a three-tier R&D system with the Development Research Institute as the forefront, the Technology and Design Department as the guarantee, and the Industry Product Development Team (BL-PDT) as the foundation. Through an IPD mechanism that links product reserves and technical pre-research, it ensures the company's technological first-mover advantage.

公司在石墨烯相关研究有没有新的进展？相关报道说公司在石墨烯相关专利数量在全国都是前三？

Ocean King: Currently, the company's Patents in graphene are still in the front-end research stage. Future arrangements will be made based on market conditions. Company patent information can be queried at the China National Intellectual Property Administration Patent Search and Analysis website.