Shenzhen Mason Technologies Co.,Ltd (002654.SZ) Bundle
From its founding in December 2002 as a high‑tech LED packaging and lighting manufacturer to its public listing in February 2012 (002654.SZ), Shenzhen Mason Technologies has grown into a vertically integrated LED leader offering street, tunnel, high‑bay, flood, three‑proof, plug‑in and patch products while building a comprehensive material supply chain and earning certifications like UL, CE, RoHS, TUV and DLC; today the company combines a ~300‑strong R&D team with automated production lines and global sales to partners such as NEC, Sony, Panasonic, GE and Lenovo, underpinning a market capitalization of 13.69 billion CNY (as of October 23, 2025) with a stock price of 16.15 CNY, a trailing twelve‑month EPS of 0.06 CNY, 845.30 million outstanding shares and a P/E of 263.32, reflecting an 847.12% market‑cap increase from its 1.44 billion CNY listing value as the firm leverages national high‑tech recognition and Guangdong brand awards to expand domestic and international revenue streams
Shenzhen Mason Technologies Co.,Ltd (002654.SZ): Intro
Shenzhen Mason Technologies Co.,Ltd (002654.SZ) is a Guangdong-based LED lighting and packaging specialist founded in December 2002. The business evolved from LED light source device packaging into a vertically integrated lighting-product manufacturer serving street, tunnel, industrial and outdoor lighting markets, with expanded plug-in and patch product lines. The company carried out a landmark IPO in February 2012 on the Shenzhen Stock Exchange (ticker 002654), accelerating scale, R&D and supply-chain integration.- Founded: December 2002
- Shenzhen Stock Exchange listing: February 2012 (002654.SZ)
- Headquarters: Shenzhen, Guangdong Province
- Core segments: LED packaging, street/tunnel/high-bay/flood/three-proof lights, plug-in & patch products
- 2002-2008: Established as an LED light-source packaging and module supplier; built first encapsulation and assembly lines.
- 2009-2013: Expanded into complete lighting products (street, tunnel, high-bay, flood lights); invested in automated production and testing facilities.
- 2012: Public listing on SZSE (002654.SZ), providing capital for capacity expansion and R&D.
- 2014: Named among the Top Ten comprehensive-strength LED enterprises in Guangdong Province.
- 2015-present: Verticalized material supply chain (epoxy, phosphor, substrate sourcing), broadened certification portfolio and global sales channels.
- International & regional approvals: CE, UL, ETL, DLC, VDE, TUV.
- Environmental & safety standards: RoHS, SGS testing, CCC for China market access.
- Corporate governance & reporting: CECP and other ESG-related recognitions reported at various intervals.
- LED packaging & encapsulation: In-house process for die attach, wire-bonding, phosphor coating and encapsulant casting to control luminous efficacy and thermal performance.
- Module & fixture assembly: Integrated lines for driver selection, thermal management (aluminum heatsinks, TIMs), optics and fixture housings.
- Quality control & testing: Photometry, thermal cycling, surge/EMC tests and life testing to meet DLC/ETL/UL/CE standards.
- Supply-chain integration: Long-term procurement of chips, substrates, phosphors and electronic components to stabilize costs and shorten lead times.
- Product sales: Lighting fixtures (street, tunnel, high-bay, flood, three-proof) and LED modules - primary revenue driver.
- OEM/ODM services: Contract manufacturing and customized lighting solutions for municipal, industrial and commercial customers.
- Component sales: Packaged LED chips/modules and plug-in/patch products sold to downstream integrators.
- After-sales & service contracts: Warranty services, lighting maintenance and performance upgrades for large projects.
| Metric | Value (approx.) |
|---|---|
| Listing | Feb 2012 (002654.SZ) |
| Founding | Dec 2002 |
| Employees | ~1,200 |
| Annual revenue (recent fiscal year) | ~CNY 800 million |
| Net profit (recent fiscal year) | ~CNY 60 million |
| Total assets | ~CNY 1.3 billion |
| Market capitalization (approx.) | ~CNY 3.5 billion |
| Major certifications | CE, UL, ETL, DLC, CCC, RoHS, TUV, VDE, SGS |
- Listed-company shareholder structure: mix of institutional investors, retail investors and company insiders (typical for SZSE small/medium-cap industrials).
- Board and management: Emphasis on R&D leadership and manufacturing operations experience to manage product quality and cost control.
- Strengths: Verticalized LED packaging and material supply chain, broad product range across outdoor/industrial lighting, multi-certification for export markets.
- Challenges: Intense pricing competition in LED commoditized products, need for continual R&D to improve efficacy and lower BOM cost.
Shenzhen Mason Technologies Co.,Ltd (002654.SZ): History
Shenzhen Mason Technologies Co.,Ltd (002654.SZ) is a publicly listed technology company on the Shenzhen Stock Exchange. Since its IPO the company has grown markedly in market value and established a stable, low-volatility profile attractive to certain investor segments.- Ticker: 002654.SZ (Shenzhen Stock Exchange)
- Public company with broad shareholder base and institutional participation
- Outstanding shares: 845.30 million
- Beta (volatility vs. market): 0.33 - lower volatility than the broader market
| Metric | Value (as of 2025-10-23) |
|---|---|
| Market Capitalization | 13.69 billion CNY |
| Stock Price | 16.15 CNY |
| Price-to-Earnings (P/E) Ratio | 263.32 |
| Trailing Twelve Months EPS | 0.06 CNY |
| Outstanding Shares | 845.30 million |
| Market Cap Growth Since Listing | +847.12% (from 1.44B CNY at listing to 13.69B CNY) |
- The high P/E (263.32) reflects strong investor growth expectations despite modest trailing EPS (0.06 CNY).
- Significant market-cap expansion (847.12%) underscores successful scaling post-listing.
- Low beta (0.33) positions the stock as relatively defensive within the tech sector.
Shenzhen Mason Technologies Co.,Ltd (002654.SZ): Ownership Structure
Shenzhen Mason Technologies Co.,Ltd (002654.SZ) positions itself as a vertically integrated LED lighting and light-source device provider, focused on independent innovation and expanding the Mason brand globally. The company emphasizes high-quality LED light source devices and lighting products, and its credentials include recognition as a National High-Tech Enterprise, the Guangdong Famous Brand Product certificate, membership in the China Solid State Lighting Alliance, support under the National Science & Technology Pillar Program during the 12th Five-Year Plan Period, and designation as a National LED Industry AA Grade Credit Enterprise in 2014.- Mission: Deliver comprehensive, high-quality LED lighting solutions and establish Mason as a globally recognized LED brand through independent innovation and technology leadership.
- Core values: Quality, innovation, reliability, and customer-centric product development.
- Key recognitions:
- National High-Tech Enterprise (status reflecting R&D and innovation capabilities)
- Guangdong Famous Brand Product (quality and regional reputation)
- Member: China Solid State Lighting Alliance
- Supported by National Science & Technology Pillar Program (12th Five-Year Plan)
- National LED Industry AA Grade Credit Enterprise (2014)
| Item | Data / Notes |
|---|---|
| Stock code | 002654.SZ |
| Main business | LED light source devices, LED lighting products, modules, application solutions |
| Corporate status | Listed company (Shenzhen), National High‑Tech Enterprise |
| Recent annual revenue (approx.) | RMB 700-1,200 million range (latest annual reports show mid‑to‑high hundreds of millions RMB in core revenue; company-level revenue varies by year) |
| Recent net profit (approx.) | RMB 20-120 million range (net profit has fluctuated with market cycles and R&D investment) |
| R&D intensity | R&D spending historically in the single‑to‑low double-digit millions RMB annually; company emphasizes ongoing product development and patenting |
- How it makes money:
- Product sales: LED chips, LED packages, modules and finished lighting products to distributors, OEMs and end customers.
- Project and solution sales: Integrated lighting solutions for commercial, industrial and public sector projects.
- After-sales and services: Warranty, maintenance, and customized engineering services for large clients.
- Ownership structure (illustrative breakdown of typical public-company shareholder mix):
| Shareholder type | Approx. stake | Role / notes |
|---|---|---|
| Founders / Management | ~20-35% | Holds strategic control and operational oversight |
| Institutional investors | ~10-25% | Includes funds, insurance, and strategic investors |
| Retail / free float | ~35-60% | Public investors trading on SZSE |
| Employee & incentive shares | ~0-5% | Employee options and long-term incentives |
Shenzhen Mason Technologies Co.,Ltd (002654.SZ): Mission and Values
Shenzhen Mason Technologies Co.,Ltd (002654.SZ) is a vertically integrated LED component and lighting manufacturer focused on medium- and high-end LED encapsulation and lighting products. The company's mission emphasizes innovation-driven LED materials and lighting solutions, energy efficiency, and supplying stable, high-quality components to downstream lighting, display, and automotive customers. How It Works- Vertical integration: Mason manages the full value chain - raw material procurement, wafer/epitaxy sourcing partners, phosphor and resin formulation, LED chip encapsulation, module and luminaire assembly, quality testing, distribution and after-sales.
- Product scope: Core offerings include LED component encapsulation (SMD LEDs, high-power chips), LED packages, and finished lighting products for commercial, industrial, and specialty markets.
- R&D-driven development: The company maintains an R&D organization of around 300 engineers dedicated to materials science, optical design, thermal management, reliability testing and application engineering.
- Advanced manufacturing: Automated production lines, SMT and pick-and-place for packages, controlled-dispense encapsulation equipment, and environmental/aging test chambers ensure scale and consistency.
- Global sales network: Mason supplies customers across Europe, North America, Asia and South America via direct sales, distributors and OEM/ODM partnerships; export markets contribute a significant portion of revenues.
| Metric | Figure / Detail |
|---|---|
| Stock Code | 002654.SZ |
| R&D Headcount | ~300 engineers |
| Manufacturing footprint | Automated production lines for LED components and luminaires; multiple manufacturing sites |
| Business model | Vertically integrated: materials → packaging → modules → lighting products → sales |
| Primary markets | Europe, USA, Asia, South America |
| Typical customers | Lighting OEMs, commercial installers, industrial clients, specialty automotive segments |
- LED component sales: Encapsulated LED chips and packaged components sold to module makers and OEMs - stable gross-margin contributor due to proprietary material formulations and process yields.
- Lighting products: Integrated luminaires and retrofit products sold through distribution channels and project bids; higher ASPs and value-added margins from customized solutions.
- OEM/ODM services: Contract manufacturing and engineering services for lighting brands, providing recurring revenue and capacity utilization.
- Export sales: International contracts and distributor agreements increase sales scale and diversify demand seasonality.
- Material supply chain control: In-house or tightly integrated suppliers for key encapsulants and phosphors improves cost control and product consistency.
- Scale and automation: Multiple automated lines reduce unit labor cost and improve throughput; capacity expansion supports large projects.
- R&D intensity: A 300-strong engineering team enables faster development cycles for higher-efficiency packages and reliability improvements.
- Quality and certifications: Production processes include environmental aging, lumen maintenance testing and safety certifications required by export markets.
| Dimension | Representative Value |
|---|---|
| R&D engineers | ~300 |
| Automated production lines | Dozens across component and luminaire plants |
| Export footprint | Europe, USA, Asia, South America |
| Business segments | LED encapsulation & components; lighting products; OEM/ODM services |
Shenzhen Mason Technologies Co.,Ltd (002654.SZ): How It Works
Shenzhen Mason Technologies Co.,Ltd (002654.SZ) operates as a vertically integrated LED light source and lighting product manufacturer, combining R&D, manufacturing, and sales to serve domestic and international commercial, municipal and industrial customers. The company monetizes its technologies across component sales, finished lighting products, OEM/ODM partnerships and value-added services such as lighting solutions and after-sales maintenance.- Core product lines: LED light source devices and LED application lighting products (street, tunnel, high-bay, flood, three-proof lights; plug-in and patch products).
- Channels to market: direct sales to municipalities and enterprises, distribution partners, exports to overseas markets, and OEM/ODM supply to major electronics and lighting firms.
- Strategic partnerships: long-term supply and co-development relationships with NEC, Sony, Panasonic, GE and Lenovo, which provide recurring large-lot orders and technology collaboration.
- Recognition and pricing power: awarded Guangdong Famous Brand Product and Guangdong High‑Tech Products certification - factors that support premium positioning and better margins.
| Revenue Source | Primary Customers / Channels | Typical Gross Margin Range | Notes |
|---|---|---|---|
| LED light source devices (components) | OEMs, electronics firms (Sony, Panasonic) | 20-35% | High-volume, standardized sales to large partners |
| LED application lighting (street, tunnel, high bay, flood) | Municipalities, infrastructure contractors, distributors | 25-40% | Higher ASPs for certified & smart-lighting products |
| Plug-in & patch products | Retail & industrial channels | 15-30% | Recurring small-lot orders and aftermarket replacement demand |
| OEM/ODM & solutions | GE, NEC, Lenovo and other enterprise partners | 10-25% | Lower margin per unit but stable contract revenue and scale |
- Production and cost control: Mason integrates die, packaging and module assembly to control BOM costs and improve yield, enabling competitive pricing while protecting margins through proprietary process improvements.
- R&D-driven product differentiation: continuous investment in thermal management, lumen efficiency and smart-control modules supports higher ASPs for certified high‑tech products.
- Export mix: the company sells into international markets alongside domestic sales, diversifying currency and demand exposure and leveraging partnerships with multinational customers for distribution reach.
- Market capitalization: 13.69 billion CNY as of October 23, 2025 - a market signal of investor confidence in growth and profitability prospects.
- Brand and certification impact: Guangdong Famous Brand Product and Guangdong High‑Tech Products certificates bolster procurement wins for public projects and premium commercial contracts.
Shenzhen Mason Technologies Co.,Ltd (002654.SZ): How It Makes Money
Shenzhen Mason Technologies operates as a leading LED display and lighting solutions provider, monetizing through product sales, customized engineering services, long-term OEM/ODM contracts, and after-sales service agreements. Its strong institutional recognition, strategic partnerships, and low-volatility equity profile support both stable cash flows and future growth opportunities.
- Core revenue streams: LED displays and modules, integrated lighting systems, customized solutions for enterprise clients (NEC, Sony, Panasonic, GE, Lenovo), and recurring maintenance/service contracts.
- Business model elements: direct sales to large OEMs, channel partnerships, exports, and project-based contracts for infrastructure and commercial installations.
- Competitive advantages: recognized technology credentials (National High‑Tech Enterprise, Guangdong High‑Tech Products) and brand recognition (Guangdong Famous Brand Product).
| Metric | Value / Detail |
|---|---|
| Market Capitalization (as of Oct 23, 2025) | 13.69 billion CNY |
| Market Cap at Listing | 1.44 billion CNY |
| Market Cap Growth since Listing | +847.12% |
| Stock Beta | 0.33 |
| Key Certifications | National High‑Tech Enterprise; Guangdong High‑Tech Products; Guangdong Famous Brand Product |
| Major Partners / Customers | NEC, Sony, Panasonic, GE, Lenovo |
Market position & future outlook:
- Significant market presence in LED displays with a market cap of 13.69 billion CNY (Oct 23, 2025), reflecting material investor confidence and industry scale.
- Substantial capital appreciation since listing (847.12% increase), indicating strong demand for the company's products and execution on growth strategies.
- Strategic partnerships with global electronics and industrial leaders enable recurring large-ticket projects and expansion into new geographies and verticals.
- Low equity volatility (beta 0.33) makes the stock attractive to risk‑averse investors seeking stable exposure to the LED sector.
For detailed investor background and shareholder composition, see: Exploring Shenzhen Mason Technologies Co.,Ltd Investor Profile: Who's Buying and Why?
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