2025 Horticultural lighting luminaire revenue surged 97.52%; which lighting company is it?

In the current landscape where the LED lighting industry as a whole has entered a stock competition phase, structural opportunities in niche segments have become key to corporate breakthroughs. Shenzhen Minbao Optoelectronics Co., Ltd.(hereinafter referred to as 'Minbao Optoelectronics') released the '2025 Annual Report' showing that although the company's full-year revenue saw only a slight increase and profits faced pressure, its LED horticultural lighting luminaire revenue grew year-on-year by 97.52%, reaching approximately 52.54 million yuan, becoming the most striking growth driver in the annual report.

Minbao Optoelectronics, founded in 2009, is engaged in the R&D, production, and sales of LED green lighting luminaires. It covers two major sectors: commercial lighting and industrial lighting, while also expanding into special lighting fields such as horticultural lighting, beauty lighting, explosion-proof lighting, and emergency lighting. Currently, Minbao Optoelectronics products are selling well in many countries and regions worldwide.

According to the 2025 annual report, Minbao Optoelectronics achieved revenue of approximately 1.67 billion yuan, a year-on-year increase of 1.76%; net profit attributable to shareholders of the listed company was approximately 184 million yuan, a year-on-year decrease of 20.01%.

By product category, according to the annual report, LED commercial lighting luminaires generated revenue of approximately 916 million yuan, a year-on-year decrease of 2.44%, accounting for 54.86% of total revenue; LED industrial lighting luminaires generated revenue of approximately 617 million yuan, a year-on-year decrease of 73.37%, accounting for 36.98% of total revenue; LED special lighting luminaires generated revenue of approximately 135 million yuan, a year-on-year increase of 73.37%, accounting for 8.07% of total revenue.

It is worth mentioning that, in LED special lighting luminaires, LED horticultural lighting luminaires achieved revenue of approximately 52.54 million yuan, a year-on-year increase of 97.52%.

It is reported that, regarding horticultural lighting, Minbao Optoelectronics mainly focuses on LED dedicated light environment solutions for plant factories , with precise spectrum and photosynthetic efficiency as the core, distinguishing it from ordinary commercial and industrial lighting. The company's subsidiary Shenzhen Otopu Technology Co., Ltd. has deep expertise in smart agriculture lighting , with an R&D team possessing rich accumulation in plant lighting technology. Based on plant physiological needs, the company provides customized dedicated light sources, enabling cultivation不受地域、气候与环境限制 to achieve stable continuous production.

(Screenshot from Sanan Optoelectronics official website )

Sanan Optoelectronics stated that the horticultural lighting segment is a future potential sector for the company. The company has already formed partnerships with top international agricultural companies. Products are widely used in vertical farms , greenhouses, containers, and other scenarios, providing light support for various crops.

Furthermore, at the beginning of this year, the main structure of the company's industrial lighting and special lighting industrial base building was successfully topped out , marking key progress in the company's fundraising project 'LED Industrial Lighting and Special Lighting Luminaire Production Base Construction Project', laying a solid foundation for the implementation of its strategic layout. Sanan Optoelectronics stated that systematic layout around the R&D, manufacturing, and industrialization capability improvement of LED industrial lighting and special lighting luminaires is an important fulcrum for the company to perfect its industry chain structure and enhance large-scale delivery capabilities.

Currently, global horticultural lighting is transitioning from auxiliary lighting to core equipment in plant factories. Driven by food security, agricultural industrialization, and the demand for vertical and facility agriculture, light recipesand plant growth performance will become the core of industry competition . According to TrendForce research data, the CAGR of the agricultural lighting LED market from 2022 to 2027 is estimated at 11%. The horticultural lighting industry has shifted from competition based on "light source costs" to competition based on "cultivation results," with rapid domestic market growth, strong export demand, continuously improving standards, and expanding application scenarios, indicating huge long-term development potential for the sector.

It is reported that Minbao Optoelectronics has clearly identified horticultural lighting and other special lighting as future core potential sectors, continuously increasing R&D investment, optimizing light recipes, and enhancing product intelligence levels. With capacity release and overseas market expansion, the horticultural lighting business is expected to maintain high growth rates, becoming a new engine for the company's performance growth following traditional lighting.