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    Electronic technology

  3. •

    Semiconductors
MLS Co., Ltd. Class A

MLS Co., Ltd. Class A

SSZSE:002745
10.92
CNY
+0.20
(+1.87%)
-0.67EPS
18.63BMarket Cap
Oct 28Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
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
12.84
Basic EPS, GAAP
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
-0.68
Free Cash Flow per Basic Share
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
- -
Dividend per Share
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
0.04
Book Value per Share
1.29
1.84
2.83
4.97
5.56
7.49
8.09
8.39
8.92
9.04
9.2
8.55
7.79
8.12
Tangible Book Value per Share
1.19
1.7
2.61
4.69
5.23
5.38
5.98
6.61
7.18
7.35
7.59
6.96
6.83
6.35
Basic Weighted Avg Shares
801
803
881
986
1,061
1,201
1,294
1,372
1,486
1,492
1,484
1,495
1,477
1,487
Sales/Revenue/Turnover
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
19,089
Operating Margin (%)
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
2.84
Depreciation Expense
158
228
310
455
647
1,412
996
1,020
1,229
1,140
988
1,047
1,052
- -
Net Income, GAAP
433
434
256
473
669
720
492
302
1,159
194
430
374
-1,477
-1,014
Effective Tax Rate (%)
14.84
15.27
14.45
16.11
16.44
19.54
39.94
60.45
24.54
18.34
31.18
37.43
- -
- -
Profit Margin (%)
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
-5.31
Working Capital
-615
-761
-492
-243
-1,224
940
3,258
1,323
3,321
4,007
4,494
3,644
3,796
3,563
LT Debt
- -
- -
150
351
1,677
1,780
3,996
1,931
1,681
725
350
393
415
441
Total Equity
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
12,598
Return on Invested Capital (%)
25.78
22.3
8.33
8.28
7.91
5.99
2.43
1.37
5.95
1.13
4.21
2.78
- -
- -
Return on Capital (%)
28.74
25.72
11.17
9.93
10.38
7.38
3.81
2.3
6.87
1.85
3.4
3.01
- -
- -
Return on Common Equity (%)
50.55
34.65
12.84
12.2
12.01
9.33
4.94
2.65
9.02
1.45
3.18
2.84
-12.18
-8.08

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
465
1,097
1,108
LT Borrowings
2
66
35
LT Finance Leases
413
394
407
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,484
1,484
1,484
Market Capitalization
14,203
12,497
18,626

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
13,609
14,417
14,829
Cash, Cash Equivalents & STI
4,389
4,262
4,641
Accounts Receivable, Net
4,179
4,334
4,116
Inventories
3,338
3,639
3,734
Total Current Liabilities
9,814
10,715
11,266
Payables & Accruals
- -
- -
- -
ST Debt
465
1,097
1,108
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

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

CNY

•

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
5,075
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.12
0.05
0.07
0.01
0.25
2025
0.1
0.01
- -
-1.14
-1
2026
0.28
0.16
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
0.35
-0.01
0.4
0.73
2025
- -
0.01
- -
0.01
0.09
2026
- -
0.01
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Qing Huan Sun
Full Time Employees
16,032
Sector
Electronic technology
Industry
Semiconductors
Address
No.1 Mulinsen Avenue Zhongshan GD China 528415
IPO Date
Feb 9, 2015
Website
mls-ledlights.com
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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.