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MLS Co., Ltd

MLS Co., Ltd

002745.SZ
MLS Co., LtdCN flagShenzhen Stock Exchange
12.15
CNY
+0.52
- -
18.03BMarket Cap
MLS Co., Ltd
002745.SZ
(Shenzhen Stock Exchange)

Recent

price

12.15

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
3.32
1.61
2.21
3.59
4.98
4.4
5.6
7.7
14.95
14.66
12.67
12.53
11.07
11.82
11.31
11.8
11.66
Revenue per Share
0.41
0.13
0.2
0.54
0.54
0.29
0.48
0.63
0.6
0.38
0.22
0.78
0.13
0.29
0.25
-1
0.19
Basic EPS, GAAP
-1.55
-0.53
0.28
0.5
0.5
-0.21
-1.13
-1.01
-1.41
-0.23
-0.17
2.1
-0.24
0.96
0.52
0.28
-0.38
Free Cash Flow per Basic Share
0.04
0.05
0.08
0.11
0.1
0.13
0.14
0.24
0.45
0.4
0.39
0.22
0.19
0.12
0.73
0.09
0.41
Dividend per Share
0.79
0.37
0.54
1.15
1.63
1.69
1.98
2.34
3.08
3.11
3.16
3.56
3.54
3.7
3.23
2.21
3.48
Book Value per Share
1.46
0.56
0.75
1.21
1.72
2.67
5.15
5.25
5.77
5.95
7.2
7.21
7.36
7.68
6.99
6.95
7.81
Tangible Book Value per Share
246
793
808
801
803
881
986
1,061
1,201
1,294
1,372
1,486
1,492
1,484
1,495
1,477
1,428
Basic Weighted Avg Shares
815
1,274
1,786
2,874
4,002
3,882
5,520
8,169
17,952
18,973
17,381
18,615
16,517
17,536
16,910
17,439
16,648
Sales/Revenue/Turnover
18.02
14.03
12.77
19.64
14.61
8.17
12.47
12.19
9.21
8.03
10.76
11.99
5.2
6.73
5.88
2.26
4.8
Operating Margin (%)
- -
68
107
158
228
310
455
647
1,412
996
1,020
1,229
1,140
988
1,047
1,052
- -
Depreciation Expense
102
107
162
433
434
256
473
669
720
492
302
1,159
194
430
374
-1,477
265
Net Income, GAAP
19.4
15.02
17.97
14.84
15.27
14.45
16.11
16.44
19.54
39.94
60.45
24.54
18.34
31.18
37.43
- -
42.62
Effective Tax Rate (%)
12.51
8.41
9.05
15.06
10.84
6.58
8.58
8.18
4.01
2.59
1.74
6.23
1.17
2.45
2.21
-8.47
1.59
Profit Margin (%)
-7
-286
-620
-615
-761
-492
-243
-1,224
940
3,258
1,323
3,321
4,007
4,494
3,644
3,796
4,379
Working Capital
94
125
25
- -
- -
150
351
1,677
1,780
3,996
1,931
1,681
725
350
393
415
389
LT Debt
421
532
696
1,056
1,497
2,543
5,375
5,926
9,620
10,401
12,511
13,303
13,474
13,795
12,800
11,689
13,510
Total Equity
23.89
14.34
12.74
29.15
25.79
9.77
10.35
9.65
9.58
4.5
3.36
8.44
4.07
5.36
4.58
- -
3.27
Return on Invested Capital (%)
29.01
16.91
16.77
32.22
27.71
14.19
16.19
17
11.1
5.44
3.41
11.42
3.4
7.06
6.88
- -
5.32
Return on Capital (%)
56.12
44.26
44.51
63.86
38.94
18.25
27.5
30.13
23.28
12.73
7.22
24.09
3.67
7.98
7.25
-36.49
5.19
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
525
384
393
LT Borrowings
- -
- -
8
LT Finance Leases
393
377
382
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,484
1,484
1,484
Market Capitalization
13,184
12,894
11,252

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
12,956
13,190
13,754
Cash, Cash Equivalents & STI
4,098
4,004
4,506
Accounts Receivable, Net
3,876
3,738
3,675
Inventories
3,413
3,561
3,875
Total Current Liabilities
9,312
9,080
9,375
Payables & Accruals
- -
- -
- -
ST Debt
525
384
393
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
20.64%
-1.18%
-8.68%
Free Cash Flow
-172.84%
-433.23%
-47.21%
Net Income, GAAP
-12.19%
-37.15%
-495.21%
Sales/Revenue/Turnover
20.88%
0.31%
3.13%
Total Cash Common Dividend
53.31%
63.34%
-88.29%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,999
4,183
4,008
4,721
16,910
2025
3,886
4,033
5,261
- -
17,439
2026
4,720
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.12
- -
- -
- -
0.25
2025
0.1
- -
- -
- -
-1
2026
0.28
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
- -
- -
- -
0.73
2025
- -
- -
- -
- -
0.09
2026
- -
- -
- -
- -
- -
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Business
MLS Co., Ltd. MLS Co., Ltd. (002745.SZ) is a China-based company principally engaged in the research, development, production and sales of light-emitting diode (LED) packaging and application products; it offers LED lamp beads, filaments, SMD LEDs, light bulbs, tubes, strips, indoor and outdoor displays, power supplies, track lights, downlights, spotlights, grille lights, classroom lamps, air purification devices and photobiology products such as rice seedling equipment under brands including Mulinsen, LEDVANCE, Light Source Family and Forest Lighting. The company operates lighting and LED intelligent manufacturing businesses serving commercial, residential, industrial and professional markets in China and internationally across approximately 140 countries. Founded in 1997 and headquartered in Zhongshan City, China, MLS Co., Ltd. employs over 15,000 people and maintains subsidiaries like LEDVANCE GmbH for global lighting distribution; its sales derive from LEDVANCE and Mulinsen brands, with significant overseas revenue. Recent developments include the October 2025 announcement to establish LEDVANCE New Energy Co., Ltd. with its subsidiary Shenzhen LEDVANCE for photovoltaic and energy storage business, registered capital of 300 million yuan; January 2025 agreement by LEDVANCE to acquire German lighting brand LOBLICHT for engineering expansion; establishment of an aviation lighting division in December 2024 targeting low-altitude economy with a January 2025 deal to acquire 51% of Singapore Airlines Technology; and July 2025 plan by LEDVANCE GmbH to acquire 18.77% stake in Bridgelux from Epistar.