Core Insights - The Chinese laser and optoelectronics industry is experiencing significant personnel changes at the beginning of 2026, with multiple companies announcing important adjustments in their management teams [1][3] Group 1: Company Announcements - Five listed companies, including Dazhu Laser, Huaray Laser, Lianying Laser, Jieput, and Lianchuang Optoelectronics, have reported changes such as resignations of independent directors and appointments of new executives [1][3] - Dazhu Laser's independent director Wang Tianguang resigned for personal reasons, leading to a need for a supplementary election to maintain compliance with regulations [4][6] - Huaray Laser completed a management transition, appointing He Lidong as chairman and general manager, ensuring strategic continuity and emphasizing technical talent [7][9] - Lianying Laser's vice president Yin Dong resigned but will remain with the company in another capacity, indicating an internal restructuring rather than a complete departure [10][12] - Jieput appointed Liu Meng, a technical expert, as vice president, reflecting a strategic focus on enhancing product development and competitiveness in the high-power laser market [13][15] - Lianchuang Optoelectronics appointed Gu Hongwu as a non-independent director, transitioning from a supervisory role to a decision-making position within the board [16][18] Group 2: Strategic Implications - The personnel changes across these companies highlight a focus on strategic succession and the importance of technical expertise in the laser industry, particularly in the context of AI integration and high-end transformation [3] - The new management teams are characterized by stability and a strong technical background, which is crucial for driving innovation and maintaining competitive advantages in the rapidly evolving market [9][15] - The adjustments in leadership roles are seen as efforts to optimize governance structures and enhance strategic decision-making capabilities within the companies [18]

Group 1 - The 3D printing sector is experiencing a strong rebound, with companies like Jin Chengzi and Inno Laser seeing stock increases of over 10% [1] - Other companies in the 3D printing industry, such as Nanfeng Co., Huazhong CNC, Hongrid, and Jieput, have also reported stock gains exceeding 5% [1]

Group 1 - The CPO concept in the A-share market has seen significant gains, with multiple companies experiencing notable stock price increases [1] - Notable performers include LianTe Technology, which rose by 10.30%, and KeChuan Technology, which increased by 10.01% [2] - Other companies such as ChangDian Technology and RoboTech also saw substantial gains, with increases of 10% and 9.66% respectively [2] Group 2 - The total market capitalization of LianTe Technology is 28.2 billion, while KeChuan Technology has a market cap of 9.521 billion [2] - Year-to-date performance shows that KeChuan Technology has increased by 60.60%, indicating strong growth potential [2] - Companies like ChangDian Technology and RoboTech have year-to-date increases of 31.57% and 36.39% respectively, reflecting positive market sentiment [2]

Investment Rating - The report recommends a positive investment outlook for the machinery equipment industry, particularly focusing on companies with high export potential and strong growth prospects in overseas markets [3][10]. Core Insights - The report identifies three major opportunities for machinery equipment exports: the Belt and Road Initiative driving demand in resource-rich countries, strong demand recovery in Europe and the US, and the shift from capacity export to technology export in high-end manufacturing [3][4][5]. - Key companies recommended for investment include SANY Heavy Industry, Zoomlion, LiuGong, and Hengli Hydraulic in the engineering machinery sector, and Jerry Holdings and Neway in the oil service sector [3][4][5][67]. Summary by Sections Belt and Road Initiative - Investment in oil, gas, and mineral resources in resource-rich countries is accelerating, driving demand for domestic equipment and expanding global market share [3]. - The engineering machinery sector is expected to benefit from rising prices of non-ferrous metals and increased capital expenditure by mining companies, leading to higher demand for high-margin excavators [3][10]. European and American Demand - The report highlights a recovery in overseas production capacity and macroeconomic recovery, focusing on high-quality targets with significant exposure to European and American markets [4]. - Key recommendations include leading Chinese hand tool exporter Juxing Technology and companies in the industrial forklift sector such as Hangcha Group and Anhui Heli [4]. High-End Manufacturing Export - The shift from capacity export to technology export is emphasized, with Chinese equipment manufacturers leveraging their advantages to enhance export ceilings [5]. - Companies involved in the production of optical module equipment, lithium battery equipment, and photovoltaic equipment are highlighted as key players, with specific recommendations for firms like Meiwai and Aotewi [5]. Engineering Machinery Export - The report anticipates a new upward cycle for overseas engineering machinery demand starting in 2025, driven by recovery in global demand and increased capital expenditure in mining and infrastructure [10][11]. - Key companies with established overseas operations and competitive advantages in mining and large infrastructure projects are expected to benefit significantly [10][11]. Oil Service Market - The Middle East is identified as a core market for oil service companies, with high certainty for growth due to stable capital expenditure and strong demand [67][69]. - Recommended companies include Jerry Holdings, which has a comprehensive international certification system and strong project execution capabilities, and Neway, which has a significant presence in the aftermarket service sector [67][69].

证券代码：688025 证券简称：杰普特 公告编号：2026-001 深圳市杰普特光电股份有限公司 2024 年员工持股计划第一次持有人会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、会议召开情况 深圳市杰普特光电股份有限公司（以下简称"公司"）2024 年员工持股计 划第一次持有人会议（以下简称"本次会议"）于近日在公司会议室采用现场结 合通讯方式召开。本次会议由公司董事会秘书吴检柯先生召集并主持，出席本次 会议的持有人共 43 人，代表公司 2024 年员工持股计划份额 18.30 万份，占公司 2024 年员工持股计划总份额的 91.50%。本次会议的召集、召开和表决程序符合 《深圳市杰普特光电股份有限公司 2024 年员工持股计划（草案）》（以下简称 "《2024 年员工持股计划》"）及《深圳市杰普特光电股份有限公司 2024 年员 工持股计划管理办法》（以下简称"《管理办法》"）等有关规定。会议审议并 以记名投票方式表决通过了如下议案： 二、会议审议情况 经全体持有人表决，形成决议如下： （一） ...

Group 1 - The core viewpoint emphasizes the importance of innovation-driven development strategies for companies to seize opportunities in emerging industries and ensure high-quality growth [1] - Companies are increasingly focusing on technological innovation and transformation to explore new market segments and prepare for future development [1] Group 2 - New Yi Chang has become a leader in the LED die bonding machine sector by continuously enhancing its R&D efforts over the past 20 years, now targeting the robotics sector based on its manufacturing and operational expertise [2] - Jia Yuan Technology is expanding its production capacity for high-performance PCB copper foil and has invested in Wuhan Endatong to enter the optical module field, aiming to leverage opportunities in the rapidly developing AI industry [2] - Chipsea Technology is building a multi-dimensional risk control framework to balance risks and returns in long-cycle, high-investment chip R&D, emphasizing the importance of interdisciplinary talent in industry chain competition [3] - Jieput's strategic decision to focus on the optical connection field by 2025 aims to create synergies with existing technologies and establish a stronger technological moat [3]

Investment Rating - The report maintains a positive investment rating for the 3D printing industry, highlighting its growth potential and opportunities in various sectors [1]. Core Insights - The 3D printing industry, also known as additive manufacturing, is experiencing rapid growth, with a market size of 367 billion yuan in China for 2023 and an average growth rate of approximately 25% from 2019 to 2023 [2][61]. - Key applications of 3D printing include aerospace (16.8%), medical/dental (15.6%), automotive (14.6%), consumer electronics (11.8%), and academic research (11.1%) [2][34]. - The technology offers significant advantages over traditional manufacturing methods, particularly in cost control for small batch production, personalized production, and material utilization [1][12]. Summary by Sections 1. 3D Printing vs. Traditional Manufacturing - 3D printing has clear advantages in cost control for small batches, personalized production, and material efficiency compared to traditional methods, which excel in material variety and precision [1][12]. - The main technologies in China include SLS/SLM (32%) and FDM (15%) [25]. 2. Core Components of 3D Printing - Key components include lasers and scanning systems, with lasers being the primary heat source for metal 3D printing [41][42]. - The software aspect is crucial, with major CAD software providers including Dassault Systems, Siemens, and Autodesk [57]. 3. Market Growth and Trends - The 3D printing market is expected to continue its growth trajectory, with significant adoption in aerospace, consumer electronics, and other sectors [2][61]. - The U.S., China, Japan, and Germany are identified as the core markets for 3D printing applications, with the U.S. accounting for approximately 33% of global equipment applications [2][61]. 4. Commercial Aerospace Opportunities - The commercial aerospace sector is poised for significant growth, with 3D printing being well-suited for manufacturing complex and lightweight components [2][61]. - Notable products include rocket engine components and satellite parts, indicating a broad application range [2]. 5. Key Companies in the Industry - Notable companies in the 3D printing sector include Platinum Technology, Huazhu High-Tech, Dazhu Laser, and others, which are making strides in technology and market presence [2][5].

资金流向方面，主力资金净流出364.11万元，特大单买入1215.85万元，占比8.42%，卖出1474.54万元， 占比10.21%；大单买入3949.07万元，占比27.35%，卖出4054.49万元，占比28.08%。 杰普特今年以来股价跌5.11%，近5个交易日跌2.00%，近20日跌16.71%，近60日涨1.64%。 资料显示，深圳市杰普特光电股份有限公司位于广东省深圳市龙华区观湖街道鹭湖社区观盛五路8-1号 科姆龙科技园A栋1201，成立日期2006年4月18日，上市日期2019年10月31日，公司主营业务涉及研 发、生产和销售激光器以及主要用于集成电路和半导体光电相关器件精密检测及微加工的智能装备。主 营业务收入构成为：激光器53.32%，激光/光学智能装备38.19%，其他主营业务6.61%，光纤器件 1.81%，其他(补充)0.07%。 1月13日，杰普特盘中下跌2.08%，截至10:12，报134.34元/股，成交1.44亿元，换手率1.12%，总市值 127.69亿元。 截至9月30日，杰普特股东户数7160.00，较上期增加8.35%；人均流通股13275股，较上期减少7.71%。 ...

Group 1 - The automation equipment sector experienced a slight decline of 0.01% on January 6, with Robotech leading the drop [1] - The Shanghai Composite Index closed at 4083.67, up 1.5%, while the Shenzhen Component Index closed at 14022.55, up 1.4% [1] - Notable gainers in the automation equipment sector included Haixi Communications, which rose by 16.85% to a closing price of 29.61, and Xingchen Technology, which increased by 11.87% to 25.82 [1] Group 2 - The automation equipment sector saw a net outflow of 1.546 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.103 billion yuan [2] - Key stocks with significant net inflows from retail investors included Haixi Communications and Xingchen Technology, with net inflows of 651,500 yuan and 865,100 yuan respectively [3] - The overall trading volume in the automation equipment sector was highlighted, with Haixi Communications achieving a transaction amount of 321 million yuan [1]

Group 1 - The core viewpoint of the news is that Jieput, a company specializing in laser technology and intelligent equipment, experienced a stock decline of 1.35% to 141.50 CNY per share, with a total market capitalization of 13.449 billion CNY as of December 31 [1] - Jieput's main business revenue composition includes laser products (53.32%), laser/optical intelligent equipment (38.19%), other main businesses (6.61%), fiber optic devices (1.81%), and other supplementary sources (0.07%) [1] - The company is located in Longhua District, Shenzhen, Guangdong Province, and was established on April 18, 2006, with its listing date on October 31, 2019 [1] Group 2 - According to data, one fund from the Fortune Fund family holds a significant position in Jieput, with the Fortune Active Growth One-Year Regular Open Mixed Fund (009693) owning 227,300 shares, accounting for 5.56% of the fund's net value, making it the seventh-largest holding [2] - The Fortune Active Growth One-Year Regular Open Mixed Fund has a total scale of 578 million CNY and has achieved a year-to-date return of 59.73%, ranking 772 out of 8085 in its category [2] - The fund manager, Yang Dong, has a tenure of 10 years and 139 days, with a total asset scale of 9.809 billion CNY, achieving a best return of 335.82% during his tenure [3]