Fuguang Co., Ltd.: On March 27, it received institutional research, with China International Securities Co., Ltd. and China Life Pension Insurance Co., Ltd. participating.

Securities Star News: On March 30, 2026, Foguang Co., Ltd. (688010) issued an announcement stating that the company accepted an institutional research visit on March 27, 2026. Fan Zhiyuan of Guotai Junan Securities Co., Ltd., Gong Jianbin and Liu Tong and Liu Zheming of China Life Pension Insurance Co., Ltd. participated.

The specific content is as follows:

Q: Part 1: Visit the exhibition hall and introduction to the company’s basic situation

A: Part 2: Questions

Q: What is the company’s R&D expense ratio?

A: In the fiscal years 2022–2024, the company’s R&D expense ratios were 8%, 11%, and 10%, respectively.

Q: What is the export share of the company’s main business?

A: In the fiscal years 2022–2024, the overseas revenue proportion of the company’s main business was 38%, 43%, and 44%, respectively.

Q: What is the company’s view on the development trends in the security and surveillance and in-vehicle market?

A: In the security and surveillance monitoring field, demand for high-end application scenarios still needs to be further explored. Therefore, competition in the security camera lens market will further intensify, and the demand scale for high cost-performance products will further expand.

In the in-vehicle lens field, the automobile industry has become an important pillar supporting China’s sustained economic development. Drivers such as technological advancement and policy support will fully boost market demand for in-vehicle lenses.

Q: Company projection light engine business situation

A: Since 2025, 720P mobile projection light engines have achieved mass production; projection light engines used in ultra-short-throw laser projectors and tri-fold projectors have all achieved batch deliveries; the company successfully developed the world’s smallest-volume 0.18cc full-color Micro-LED projection light engine and the world’s smallest-volume <0.1cc monochrome Micro-LED projection light engine; uLED smart projection lamps (small size, high brightness, low power consumption) have completed sample delivery and passed verification by multiple in-vehicle customers; completed the development of 1080P mobile projection light engines and passed customer verification. 5, the company’s ultra-precision machining business situation

The company’s ultra-precision optical processing technologies, such as processing infrared lenses, aspheric glass lens processing, aspheric plastic lens processing, high-precision machining of spherical lens, ultraviolet lens processing, and others, have reached internationally advanced levels. The company provides high-precision optical lenses and optical systems for areas including high-end equipment, national defense, aviation, and aerospace.

Foguang Co., Ltd. (688010) main business: professionally engaged in R&D and production of special and civil optical lens products, photoelectric systems, optical components, and other products.

Foguang Co., Ltd.’s 2025 third-quarter report shows that in the first three quarters, the company’s main operating revenue was 478 million yuan, up 3.88% year over year; net profit attributable to shareholders was -46.9956 million yuan, down 39.18% year over year; non-recurring profit and loss adjusted net profit was -70.6516 million yuan, down 41.42% year over year; among them, in the third quarter of 2025, the company’s single-quarter main operating revenue was 179 million yuan, down 5.53% year over year; single-quarter net profit attributable to shareholders was -18.2232 million yuan, down 1593.84% year over year; single-quarter non-recurring profit and loss adjusted net profit was -28.6966 million yuan, down 283.69% year over year; leverage ratio was 37.43%, investment income was 32.596 million yuan, finance expenses were 10.9583 million yuan, and gross margin was 18.39%.

Financing and securities lending data show that over the past 3 months, the stock had a net capital inflow from margin financing of 47.8237 million, and the financing balance increased; the net outflow from short-term securities lending was 0.0285 million, and the securities lending balance decreased.

The above content has been compiled by Securities Star from publicly available information and generated by an AI algorithm (Internet Information Security Filing No. 310104345710301240019). It does not constitute investment advice.