With a total investment of approximately 600 million yuan, Bull Group’s smart lighting project settled in Huizhou

On May 29, Bull Group’s smart lighting R&D and manufacturing project signed a contract with Huizhou Zhongkai High-tech Zone.

It is reported that the total investment in the intelligent lighting R&D and manufacturing project is 600 million yuan. The project is planned to be built as the R&D center and intelligent chemical factory of Bull Group in the Pearl River Delta. After completion, it will mainly carry out the research, development, production and sales of various smart home products such as smart main lights. It is expected to achieve total annual sales of approximately 1.9 billion yuan after reaching production capacity.

Information shows that Bull Group focuses on the research and development, production and sales of civil electrical products, mainly including power connection and electrical extension products such as converters, wall switches and sockets, LED lighting, digital accessories.

In 2022, Bull Group achieved revenue of 14.081 billion yuan, a year-on-year increase of 13.70%; net profit attributable to the parent company was 3.174 billion yuan, a year-on-year increase of 14.16%.

It is worth noting that the Bull Group currently develops its business around the three major tracks of electrical connection, intelligent electrical lighting, and new energy. Among them, the intelligent electrical lighting business includes a variety of electrical lighting products such as wall switches and sockets, LED lighting, bathroom heaters, circuit breakers, and intelligent door locks.

In 2022, Bull Group's smart electrical lighting business will achieve growth, achieving revenue of 6.849 billion yuan, an increase of 23.39% from 2021.

Bull Group has stated that in 2023, the company will continue to develop around the three major tracks of electrical connection, intelligent electrical lighting and new energy. In terms of intelligent electrical lighting business, it will focus on the demand for home decoration consumption upgrades and accelerate the construction of a whole-house intelligent ecosystem with no main lights as the core. Therefore, the signing and implementation of this smart lighting R&D and manufacturing project is one of the key steps for Bull Group to implement its development plan, and will effectively accelerate the development of Bull Group's smart electrical lighting business.