Finally settled: Sanxiong Jiguang officially announces the new general manager

On July 14, 2025, Guangdong Sanxiong Aurora Lighting Co., Ltd. convened its second meeting of the sixth board of directors. The meeting reviewed and approved several important proposals. Among them, the appointment of the general manager and board secretary was successfully finalized, marking key progress in the company's core management succession.

Nominated by Chairman Mr. Zhang Yutao and after qualification review by the Board Nomination Committee, the meeting approved the proposal for the appointment of the General Manager and the Board Secretary:

Mr. Lin Yan is appointed as General Manager of the company

Mr. Lin Yan is a Chinese national, born in 1969, with an associate degree and extensive industry experience and enterprise management capabilities. After graduation, he immediately embarked on entrepreneurship, participating in the founding of multiple electrical appliance-related enterprises, and served as a deputy to the 14th People's Congress of Guangzhou City. Since May 2010, he has served as Deputy General Manager of the company while also holding the position of Director; since July 2025, he has assumed the role of General Manager, and currently also serves as a deputy to the 6th People's Congress of Chongqing Municipality.

As of now, Mr. Lin Yan directly holds 50,965,843 shares of the company, representing 18.25% of the total share capital. His qualifications meet the requirements of relevant laws and regulations and the Articles of Association. His term shall commence from the date this Board resolution is approved and shall expire at the end of the sixth Board's term.

Mr. Yan Xinyuan is appointed as the Board Secretary of the company

Mr. Yan Xinyuan is a Chinese national, born in 1974. He graduated from the School of Economics and Management at Tsinghua University, obtained an MBA degree, and possesses solid professional expertise and extensive experience in capital operations. His career spans multiple sectors including aerospace, home appliances, and heavy industry. From November 2010 to December 2015, he served as Director, Secretary of the Board, and Executive Vice President of Seven喜控股股份有限公司 (Sevenxi Holdings Co., Ltd.) . Since May 2016, he has joined Sanxiong Jiguang . Mr. Yan Xinyuan holds the "Board Secretary Qualification Certificate" issued by the Shenzhen Stock Exchange. His qualifications comply with relevant regulations, and his term aligns with that of the Sixth Board of Directors.

Notably, both personnel proposals received 7 votes in favor and 2 against. According to the announcement, the dissenting directors (Zhang Xianqing, Chen Songhui) raised the following main concerns:

First, without the knowledge of directors Chen Songhui and Zhang Xianqing, the company invested to establish Guangzhou Sanxiong Aurora Energy Management Co., Ltd. (the company holds 53% equity, hereinafter referred to as "Sanxiong Energy"), and authorized the company to use the "Sanxiong Aurora" trademark as its enterprise name. Mr. Lin Yan serves as the legal representative of Sanxiong Energy, but there was a failure to inform the directors in a timely manner;

Secondly, Mr. Yan Xinyuan failed to timely alert the company to potential risks regarding the establishment of Guangzhou Sanxiong Jiguang Energy Management Co., Ltd., and failed to effectively convey the opinions and demands raised by directors to the board of directors. It is recommended that the company conduct a self-inspection of its three meetings, internal controls, etc., to eliminate hidden dangers.

2024 Full Year and Q1 2025 Financial Overview

2024 : Sanxiong Aurora achieved revenue of 2.078 billion yuan, with net profit attributable to parents of 48.0869 million yuan.

Q1 2025: Sanxiong Ji Guang achieved Revenue of 334 million yuan. Affected by weakening market demand, channel inventory destocking, and other factors, Net profit was a loss of 15.3134 million yuan. The company is compressing expenses and improving labor efficiency through measures such as merging functional departments, establishing Sales/Marketing/Consumer Goods divisions, and strengthening e-commerce and overseas business, with expected results gradually taking effect in the second half of the year.

Sanxiong Jiguang stated that the new management team will adhere to the business philosophy of 'seeking progress while maintaining stability, prioritizing quality and efficiency', focus on the main channel of 'healthy smart lighting', continuously promote channel下沉 (channel deepening), product upgrades, and digital transformation, and strive to create long-term value for shareholders during the deep adjustment cycle of the lighting industry.

PDF Download View: Sanxiong Jiguang Sixth Board of Directors Second Meeting Resolution Announcement