Group 1 - The core point of the announcement is that the controlling shareholder, Zhao Yuxing, plans to reduce his stake in the company by up to 2% of the total share capital, which amounts to a maximum of 2,067,200 shares [1] - The reduction will be executed through a combination of centralized bidding and block trading [1] - The reduction period is set to begin 15 trading days after the announcement and will last for three months [1]

证券代码：688170 证券简称：德龙激光 公告编号：2025-026 苏州德龙激光股份有限公司 关于控股股东减持股份计划的公告 本公司董事会、全体董事及相关股东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。 重要内容提示： 控股股东持股的基本情况 函》，因自身资金需求，赵裕兴计划根据市场情况通过集中竞价和大宗交易相结 合的方式减持公司股份，现将具体情况公告如下： | 股东名称 | 赵裕兴 | | | | | --- | --- | --- | --- | --- | | 股东身份 | 控股股东、实际控制人及一致行动人 | | √是 | □否 | | | 直接持股 5%以上股东 | √是 | □否 | | | | 董事、监事和高级管理人员 | √是 | □否 | | | | 其他： | | | | | 持股数量 | 23,745,000股 | | | | | 持股比例 | 22.97% | | | | | 当前持股股份来源 | IPO 前取得：23,745,000股 | | | | 一、减持主体的基本情况 截至本公告披露之日，苏州德龙激光股份 ...

证券代码：688170 证券简称：德龙激光 公告编号：2025-025 苏州德龙激光股份有限公司 关于已投私募基金减资、参与投资新设私募基金暨关 联交易的公告 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。 重要内容提示： 本次关联交易内容： 1、 苏州德龙激光股份有限公司（以下简称"公司"）参与投资的苏州沃衍创 业投资合伙企业（有限合伙）（曾用名：苏州沃衍绿色专精创业投资合 伙企业（有限合伙），以下简称"苏州沃衍"）拟进行减资。本次减资 是拟减少基金全体合伙人认缴但未实缴部分，基金规模拟由120,000万元 减少至84,000万元，基金全体合伙人出资比例不变。其中公司作为基金 有限合伙人认缴出资3,000万元，认缴比例2.50%，实缴出资2,100万元， 本次减资完成后，认缴出资2,100万元，认缴比例和实缴出资保持不变。 本次减资涉及的出资额尚未实缴，苏州沃衍无需向公司支付本次减资对 价。 2、 公司拟以自有资金出资1,000万元认购湖南沃衍长财创业投资基金合伙 企业（有限合伙）（暂定名，以登记机关最终核准登记的名称为 ...

中信建投证券股份有限公司 关于苏州德龙激光股份有限公司 已投私募基金减资、参与投资新设私募基金暨关联交易的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"、"保荐机构"）作 为苏州德龙激光股份有限公司（以下简称"德龙激光"、"公司"）首次公开发行 股票并在科创板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上 海证券交易所科创板股票上市规则》等相关规定履行持续督导职责，对德龙激光 已投私募基金减资、参与投资新设私募基金暨关联交易事项进行了审慎核查，具 体情况如下： 一、本次关联交易概述 （一）关联关系或其他利益关系说明 苏州沃衍和湖南沃衍的基金管理人和持有公司 5%以上股份股东北京沃衍投 资中心（有限合伙）（以下简称"北京沃衍"）及其一致行动人的执行事务合伙人 和基金管理人均为沃衍资本，公司董事丁哲波先生担任苏州沃衍和湖南沃衍管理 团队的关键人士，根据《上海证券交易所科创板股票上市规则》相关规定，本次 对外投资构成关联交易。 除上述关联关系或利益关系外，公司控股股东、实际控制人、其他持股 5% 以上的股东、其他董事、监事、高级管理人员未参与认购基金份额，也不在合伙 企业中任职。 截至本报告 ...

Group 1 - The core point of the article is that Delong Laser (688170) announced a plan for its controlling shareholder and chairman Zhao Yuxing to reduce his stake in the company by up to 2% of the total share capital, which amounts to a maximum of 2.0672 million shares through a combination of centralized bidding and block trading [1] Group 2 - The reduction in shareholding is part of a strategic move by the company's leadership, indicating potential changes in ownership dynamics [1] - The announcement reflects the company's ongoing adjustments in its capital structure and shareholder composition [1] - The planned share reduction may impact market perception and investor sentiment towards Delong Laser [1]

格隆汇8月13日丨德龙激光(688170.SH)公布，因自身资金需求，公司控股股东、实际控制人、董事长兼 总经理赵裕兴拟通过集中竞价和大宗交易相结合的方式减持不超过2,067,200股公司股份，拟减持比例不 超过公司当前总股本的2%。 ...

格隆汇8月13日丨德龙激光(688170.SH)公布，公司参与投资的苏州沃衍创业投资合伙企业（有限合伙） （曾用名：苏州沃衍绿色专精创业投资合伙企业（有限合伙），简称"苏州沃衍"）拟进行减资。本次减 资是拟减少基金全体合伙人认缴但未实缴部分，基金规模拟由120,000万元减少至84,000万元，基金全体 合伙人出资比例不变。其中公司作为基金有限合伙人认缴出资3,000万元，认缴比例2.50%，实缴出资 2,100万元，本次减资完成后，认缴出资2,100万元，认缴比例和实缴出资保持不变。本次减资涉及的出 资额尚未实缴，苏州沃衍无需向公司支付本次减资对价。 公司拟以自有资金出资1,000万元认购湖南沃衍长财创业投资基金合伙企业（有限合伙）（暂定名，以 登记机关最终核准登记的名称为准，简称"湖南沃衍"）1.94%的首期基金份额（基金尚处于募集阶段， 基金总认缴出资额及公司持有基金的份额比例以最终募集完成情况为准），重点投资于新材料、高端装 备、数字技术相关行业的优质未上市早期和成长期企业。 ...

8月13日，德龙激光大宗交易成交18.43万股，成交额600.26万元，占当日总成交额的2.79%，成交价32.57元，较市场收盘价39.22元折价16.96%。 | 交易日期 | 证券简称 | 证券代码 | 成交价(元) | 成交金额(万元) 成交量( * ) 买入营业部 | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-08-13 | 德龙激光 | 688170 | 32.57 | 398.33 | 12.23 | 中信证券股份有限 | 中信建投证券股份 | | | | | | | | 公司徐州建国西路 | 有限公司苏州分公 | | | | | | | | 证券营业部 | 리 | | 2025-08-13 | 德龙激光 | 688170 | 32.57 | 201.93 | 6.2 | 华泰证券股份有限 | 中信建投证券股份 | | | | | | | | 公司广州云城东路 | 有限公司苏州分公 | | | | | | | | 证券营业部 | 리 | ...

Core Viewpoint - The demand for silicon carbide (SiC) is rapidly increasing due to its applications in electric vehicles and renewable energy, leading to a surge in production and investment in SiC projects across China [1][2][3]. Industry Overview - The application scenarios for silicon carbide primarily include electric vehicles, photovoltaic power generation, charging stations, and power electronics [1]. - The silicon carbide industry has transitioned from the introduction phase to the growth phase, driven by increasing demand from downstream sectors like electric vehicles and photovoltaics [2]. Market Growth - The silicon carbide market is projected to grow at a compound annual growth rate (CAGR) of 35%, increasing from $1.2 billion in 2022 to $5.3 billion by 2027, with expectations to reach $9.4 billion (approximately 663 billion RMB) by 2029, with China accounting for half of this market [2]. Recent Developments - Multiple regions have recently signed contracts and launched silicon carbide material projects, with significant investments announced, such as a nearly 2 billion RMB project in Jiangsu and an 830 million RMB expansion in Jiangsu [3]. - Companies like Sanan Optoelectronics and Jingsheng Mechanical & Electrical are ramping up production of silicon carbide substrates, with Sanan's subsidiary signing long-term procurement agreements exceeding 7 billion RMB [3][4]. Technological Advancements - New technologies in silicon carbide processing, such as laser slicing, have been developed, with companies like Delong Laser reporting successful testing and securing bulk orders from major clients [4]. - The production capacity for silicon carbide equipment is also increasing, with companies like Jingsheng capable of producing over 100 units annually [4]. Demand Trends - The demand for silicon carbide in downstream applications remains strong, with clear expansion plans from clients in the electric vehicle sector, indicating a long-term growth trajectory for silicon carbide products [4].

Investment Rating - The industry investment rating is "Overweight" indicating that the industry is expected to outperform the overall market [2][9]. Core Insights - The PCB industry is experiencing continuous expansion driven by the demand for AI computing infrastructure, with major companies like Huadian and Shenghong investing significantly in new projects [3]. - The expansion is primarily focused on high-layer HDI boards, leading to increased requirements for equipment quantity and pricing [3]. - The exposure segment of PCB equipment, which accounts for 10%-15% of the total equipment value, is seeing higher demand for advanced exposure equipment due to stricter requirements from high-end PCB boards [3]. - The drilling segment, which constitutes about 25% of PCB equipment value, is benefiting from the increasing complexity of PCB designs, with a shift towards laser drilling technology [3]. - The PCB drill needle market is experiencing growth due to the surge in AI demand, prompting manufacturers to expand production capacity [3]. - The electroplating segment, which represents around 10% of PCB equipment value, is seeing increased demand for high-end equipment as AI applications require thicker copper and finer lines [3]. Summary by Sections PCB Expansion - Continuous expansion in the PCB sector is driven by AI computing needs, with significant investments from leading companies [3]. Exposure Equipment - Exposure equipment is critical for high-end PCB production, with domestic companies improving their capabilities to meet rising demands [3]. Drilling Equipment - The drilling process is evolving with a shift towards laser technology, driven by the need for smaller apertures and tighter tolerances in PCB manufacturing [3]. Drill Needles - The demand for high-quality drill needles is increasing, with manufacturers ramping up production to meet the needs of upgraded AI server PCBs [3]. Electroplating Equipment - The demand for advanced electroplating equipment is growing, particularly for high-end applications in the AI sector [3].