Amid the industry downturn, senior executives of this listed lighting company voluntarily waived part of their compensation.
To express confidence in the company's future development and determination to stand with the company through thick and thin, optimize the company's cost structure, and achieve cost reduction and efficiency improvement, Mr. Lin Yan voluntarily waived, during his tenure as the company's sixth General Manager, part of the compensation he would have been entitled to under the company's compensation and performance assessment management systems, and apart from the social security and housing provident fund contributions that he is personally required to bear under labor law, he will no longer receive the remaining compensation.
This decision was interpreted by the industry as a signal of "shared responsibility" by management in the face of consecutive years of declining financial data.
Corporate dilemmas in the industry winter .
Currently, China's lighting industry has moved from a "golden growth period" into a "stock game stage," and lighting companies are facing severe challenges. Reviewing the performance of listed companies in China's lighting supply chain in 2024, it is evident that corporate dilemmas are mainly constrained by three core contradictions: structural shrinkage of downstream demand, excess production capacity on the supply side intensifying involution, and high transformation costs and pressure from technological iteration.
Data shows that Sanxiong Aurora's revenue in 2024 was 2.078 billion yuan, a decrease of 11.64% year-on-year; net profit attributable to shareholders was 48.0869 million yuan, a decrease of 76.53%. In the first quarter of 2025, revenue was 334 million yuan, and net profit attributable to shareholders was a loss of 15.3134 million yuan. Performance remains under pressure, marking the company's first quarterly loss since its IPO.
The financial data of Sanxiong Aurora is a microcosm of the lighting industry's dilemma of "falling volume and prices."
A sense of responsibility beyond numbers .
Against this backdrop, General Manager Lin Yan voluntarily waived part of his annual salary. His action goes far beyond a simple compensation adjustment or optimizing the company's cost structure; it is a highly symbolic act of responsibility.
It is worth noting that Paktron Aurora does have highlight businesses, achieving breakthrough progress in niche segments—in 2024, the sales revenue of the Municipal Transportation Project Department increased significantly by 176% (mainly benefiting from the centralized supply period of rail transit projects); commercial chain business Revenue grew by 6.93%; and outdoor engineering sales revenue exceeded 100 million yuan for the first time.
When core commercial lighting/home lighting businesses were severely hit by the real estate downturn, management chose to stand with the enterprise rather than focusing only on local growth. This clear-headed recognition of "not ignoring overall difficulties due to local highlights" reflects true entrepreneurial spirit.
Although the announcement did not disclose the specific amount of voluntarily waived compensation, this may signal a positive move towards Paktron Aurora’s “self-reform” initiative.
From passive response to proactive responsibility .
General Manager Lin Yan's "voluntary waiver of part of his salary" has multiple exemplary significances in the lighting industry:
01
Demonstrates management's deep sense of responsibility towards the enterprise. In an environment of widespread "involution" and excess production capacity in the industry, executives voluntarily reducing salaries or waiving part of their compensation, rather than simply laying off staff to cut costs, can effectively stabilize morale and prevent talent loss from further weakening corporate competitiveness.
02
Sent a positive signal to the market. At a time when traditional lighting companies face immense pressure to transform, management's determination to "stand together" with the enterprise helps restore investor confidence.
Those who survive cycles are always the "co-sharers" .
The lighting industry market will continue to face pressure in 2025, with corporate core competitiveness shifting from "scale advantage" to "organizational resilience," where management's responsibility serves as the "ballast stone" of this resilience.
General Manager Lin Yan's act of "voluntarily waiving part of his salary" is not only a demonstration of personal responsibility, but also provides the entire industry with an approach to coping with difficulties: in an uncertain market environment, true confidence does not come from short-term performance recovery, but from the strategic choice of "sharing burdens with employees, advancing with customers, and coexisting with the industry." When the external environment is unfavorable, management's self-sacrifice and strategic determination are often the key forces enabling enterprises to navigate through cycles.
Only a leadership team with genuine responsibility can lead an enterprise out of difficulties and welcome the arrival of a new industry cycle . General Manager Lin Yan's act of "voluntarily waiving part of his salary" may well be the best interpretation of this "coexistence mindset".