Authoritative Analysis! 2024 Operation Report for Large-Scale Enterprises in the Lighting Industry

According to data from the China National Light Industry Council, from February to December 2024, except for the export prosperity index of large-scale lighting enterprises which remained stable, the CNLIC Prosperity Index, revenue prosperity index, and profit prosperity index all showed a downward trend, hovering in the cooling zone and even entering the over-cooled zone. Among them, the profit prosperity index in December dropped by nearly 5 percentage points compared to the same period last year.

Note: The Prosperity Index is scientifically compiled by the China National Light Industry Council based on figures such as revenue and profits of large-scale enterprises in various industries.

Among more than 3,600 large-scale enterprises, the number of loss-making enterprises increased by about 13% year-on-year (YoY); the number of loss-making enterprises accounted for about 24% of all large-scale enterprises, an increase of 2 percentage points compared to the same period last year; and the losses of loss-making enterprises increased by about 28% year-on-year (YoY).

In 2024, the revenue of large-scale enterprises in lighting fixture manufacturing remained basically flat compared to the same period last year. The total profit decreased by approximately 7% Year-on-year (YoY), with the growth rate widening by 6 percentage points compared to the same period last year. The operating profit margin of the lighting industry was about 5.1%, down 0.3 percentage points from the same period last year. This is 0.5 percentage points higher than the national manufacturing average, but slightly lower than the average level of light industry, lagging behind three home-related industries: hardware, furniture, and home appliances.

On a monthly basis, the revenue of large-scale enterprises in lighting fixture manufacturing was at its lowest level for the year in March and April, and maintained an upward trend from May to December; most months in 2024 saw a slight decline compared to the same period last year. Total profits showed a fluctuating trend, with overall performance in the fourth quarter better than in other quarters; compared with 2023, performance in most months was worse than in the same period last year.

The revenue of large-scale enterprises in the manufacture of special-purpose equipment for lighting fixture production increased by nearly 10% Year-on-year (YoY), while total profit decreased by more than 12% compared to the same period last year. The number of loss-making enterprises remained flat compared to the same period last year, while the losses of these enterprises increased by approximately 97% Year-on-year (YoY).

From the perspective of exports, the export delivery value of enterprises above designated size in the lighting industry increased by approximately 6.7% year-on-year (YoY) in 2024, remaining basically flat compared to 2019. Among them, the Electric light source decreased by about 2.6% YoY, Luminaire increased by more than 7.5% YoY, and electrical accessories for lamps and other lighting appliances rose by more than 17% YoY.

The export delivery value of enterprises above designated size in the lighting industry from 2019 to 2024 showed a fluctuating trend. In 2020, affected by the pandemic, overseas trade was hindered, leading to a significant decline in exports; in 2021, the export delivery value reached a six-year high, reflecting the recovery of export trade after the pandemic and the effective release of backlogged orders. Both 2022 and 2023 saw declines compared to the previous year.

Regarding electric light sources, the main production areas of Zhejiang, Guangdong, Jiangxi, Hunan, and Fujian remained in the top five nationwide in 2024, with rankings consistent with 2023. Fujian and Hunan saw significant changes: the former decreased by 75% Year-on-year (YoY), while the latter increased by 95% Year-on-year (YoY).