The total amount exceeded 180 million, and Lohman Holdings and Spacetime Technology won domestic and foreign cultural tourism projects

As cultural tourism consumption recovers and the "nighttime economy" continues to heat up, demand for landscape lighting and digital cultural tourism projects is accelerating. From city night tours, immersive performances to overseas theme park upgrades, cultural tourism scenes are becoming an important growth driver for lighting engineering companies. Against this background, landscape lighting-related companies such as Lohmann and Spacetime Technology continue to expand their business territory through project bidding and overseas expansion. At the same time, they are also looking for new growth points between performance pressure and transformation and upgrading.

Lohman Holdings signed a 126 million yuan Singapore cultural tourism project operation contract

Yesterday (3/23) evening, Lohman Holdings issued an announcement announcing that its holding subsidiary Holovis International Ltd. recently signed a cultural tourism project operation contract with Resorts World Sentosa, Singapore - the "Special Ride Facilities Procurement Contract", with a total contract amount of US$18,193,733.08 (approximately RMB 126 million).

This project is located in the core tourist destination of Singapore and involves the creation of an immersive night tour experience. Roman Co., Ltd. will provide a series of supporting services for the riding facility, from design and planning, equipment supporting, to on-site construction and installation, testing and tuning, to later warranty and maintenance. Holovis, as Lohman's overseas business platform, focuses on immersive entertainment and digital experience solutions. This signing also marks Lohman's further breakthrough in the international high-end cultural tourism market.

From the perspective of business structure, Roman Co., Ltd. has continued to promote the transformation from traditional landscape lighting projects to digital cultural tourism comprehensive service providers in recent years, focusing on the deployment of night tourism economy, theme parks and immersive experience projects. The implementation of overseas projects will help enhance the company's brand premium and ability to acquire high-end projects.

Spacetime Technology Consortium won the bid for the night tour project worth 61.25 million yuan

Spacetime Technology also announced yesterday evening that as a member of the consortium, it won the bid for the "Keqiao District Water Night Tour Project (Urban Section) General Contracting Project" with a winning bid amount of approximately 61.25 million yuan.

In recent years, Spacetime Technology has continued to delve into the fields of urban night scene lighting, cultural tourism, lighting and performing arts, and has maintained a high degree of market participation in the direction of "night tour + cultural tourism". From an operational perspective, Spacetime Technology still faces certain pressures. Previously disclosed performance forecasts showed that the company is expected to suffer losses in 2025, reflecting issues such as intensified competition in the industry and pressure on project gross profit margins. At the same time, Spacetime Technology also pointed out in its quarterly report that the overall business scale has been maintained, but profitability still needs to be repaired.

Against this background, the acquisition of winning bids will help replenish order reserves and stabilize revenue sources. Spacetime Technology stated that the winning project belongs to the company's main business, and the winning amount accounts for approximately 17.96% of the company's audited operating income in 2024. If the company can sign a formal project contract and implement it smoothly, it will have a positive impact on the company's operating performance.

Conclusion

Taken together, the total order value signed by the two companies is approximately 187 million yuan, releasing a positive signal that the cultural tourism lighting market is gradually recovering. On the one hand, overseas high-end projects and domestic night tour projects are advancing simultaneously, indicating that industry demand is recovering; on the other hand, companies still need to face challenges such as fluctuations in profitability and long payment collection cycles.

In the future, as cultural tourism consumption continues to recover and the demand for urban renewal increases, landscape lighting companies are expected to usher in a new round of development opportunities in the "night tour economy + digital experience" track. However, industry differentiation will also further intensify, and companies with content integration and operation capabilities are more likely to stand out. (Text: LEDinside)

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