Luoman Co., Ltd. subsidiary won the bid for a comprehensive entertainment project worth approximately 200 million yuan

On May 24, Lohmann Holdings issued an announcement announcing that its subsidiary Holovis AudioVisual Solutions Sole Proprietorship L.L.C. (hereinafter referred to as "Holovis") successfully won the bid for a comprehensive entertainment project of approximately RMB 200 million.

According to the announcement, Holovis recently received the Letter of Acceptance from Consolidated Contractors Company W.L.L and Consolidated Contractors Middle East Limited (hereinafter referred to as "CCC W.L.L./CCME JV"), and was determined to be the successful bidder of AINahda Entertainment Complex, Exit 15, Riyadh (hereinafter referred to as "EXIT15 Integrated Entertainment Project") located in Riyadh, Saudi Arabia, with a bid amount of 103,992,151.24 Saudi riyals, equivalent to approximately RMB 200 million.

Roman Co., Ltd. stated that winning the bid for this project is a favorable testimony of the company's active development of overseas markets, which will help further enhance the company's brand influence and market competitiveness in the global market, and lay a solid foundation for undertaking various types of urban lighting, cultural tourism, commercial entertainment and other diversified businesses in the future. The performance of the contract is expected to have a positive impact on the company's operating performance, but will not have an impact on the company's business and operational independence.

Data show that Lohmann's main business covers landscape lighting overall planning and design, engineering construction and remote centralized control management and other related services. In 2024, the company will achieve operating income of approximately 688 million yuan, a year-on-year increase of 12.7%; however, the net profit loss attributable to shareholders of the listed company will be approximately 34.84 million yuan.

The performance loss in 2024 is mainly due to the simultaneous increase in overseas business income and costs after the company acquired overseas enterprises. At the same time, the recovery of accounts receivable was less than expected, resulting in an increase in credit asset losses, which ultimately affected operating results.

In the field of urban lighting, Lohmann has completed a number of benchmark projects, such as Beijiang's Qingyuan Digital Cultural Tourism, Harbin's Sun Island Night Tour, and China Resources Land's Xi'an Tree of Life, etc., effectively promoting urban value enhancement and innovative development.

Entering the first quarter of 2025, the company achieved operating income of 180 million yuan, a year-on-year increase of 49.44%; net profit attributable to the parent company was 14.4164 million yuan, a year-on-year decrease of 20.68%.