Core Viewpoint - The announcement details the share reduction plans of the company's directors and senior executives due to personal financial needs, specifying the number of shares to be sold and the respective ownership percentages [1][2][5]. Summary by Relevant Sections Shareholding Information - As of the announcement date, the shareholding details of the company's directors and executives are as follows: - Director and Vice President Li Yi holds 641,892 shares, accounting for 0.1881% of the total share capital [1][2]. - Director and Vice President Lu Guojie holds 251,953 shares, accounting for 0.0738% of the total share capital [1][2]. - Vice President Qin Lei holds 406,947 shares, accounting for 0.1192% of the total share capital [1][2]. Reduction Plan Details - The reduction plan includes: - Li Yi plans to reduce his holdings by up to 160,400 shares, representing no more than 0.0470% of the total share capital [1][3]. - Lu Guojie plans to reduce his holdings by up to 62,900 shares, representing no more than 0.0184% of the total share capital [1][3]. - Qin Lei plans to reduce his holdings by up to 101,700 shares, representing no more than 0.0298% of the total share capital [1][3]. - The reduction will occur through centralized bidding within six months after the announcement, starting 15 trading days post-announcement [1][3]. Shareholding Sources - The shares held by the directors and executives are sourced from: - Equity incentives and shares acquired through centralized bidding prior to the IPO [2][3]. - Li Yi's holdings include 200,000 shares from equity incentives and 3,198 shares from centralized bidding [1][2]. - Lu Guojie's holdings include 200,000 shares from equity incentives and 3,198 shares from centralized bidding [1][2]. - Qin Lei's holdings include 200,000 shares from equity incentives [1][2]. Compliance and Commitments - The reduction plan complies with relevant regulations and does not affect the company's governance structure or ongoing operations significantly [4][5]. - The directors and executives have committed to not transferring shares held prior to the IPO for a specified period, ensuring adherence to lock-up agreements [4].

证券代码：688518 证券简称：联赢激光 公告编号：2025-020 深圳市联赢激光股份有限公司 董事、高管减持股份计划公告 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： 董事、高管持股的基本情况 截至本公告披露日，深圳市联赢激光股份有限公司（以下简称"公司"）董 事、副总经理李毅持有公司股份 641,892 股，占公司总股本的比例为 0.1881%； 董事、副总经理卢国杰持有公司股份 251,953 股，占公司总股本的比例为 0.0738%； 副总经理秦磊持有公司股份 406,947 股，占公司总股本的比例为 0.1192%。 上述股份，其中董事、副总经理李毅持有的 200,000 股为股权激励取得， 79,500 股为集中竞价交易取得；董事、副总经理卢国杰持有的 200,000 股为股 权激励取得，3,198 股为集中竞价交易取得；副总经理秦磊持有的 200,000 股为 股权激励取得；其余均来源于公司首次公开发行前持有的股份，且已于 2021 年 6 月 22 日解除限售并上市流通。 ...

Core Points - The company announced that its board member and vice president, Li Yi, plans to reduce his holdings by no more than 160,400 shares, accounting for 0.0470% of the total share capital [1] - Another board member and vice president, Lu Guojie, intends to reduce his holdings by no more than 62,900 shares, representing 0.0184% of the total share capital [1] - Vice president Qin Lei plans to reduce his holdings by no more than 101,700 shares, which is 0.0298% of the total share capital [1] - The method of reduction will be through centralized bidding transactions, with the reduction period set from July 31, 2025, to October 30, 2025 [1] - The reason for the reduction is personal funding needs [1]

Summary of Key Points from Conference Call Industry Overview - The conference call discusses the **steel shell battery industry**, highlighting its growing adoption driven by **EU environmental regulations** that mandate all products meet lifecycle recyclability standards by **2027** [1][5][25]. - Major companies involved include **Zhuhai Guanyu**, **Lianying Laser**, and **Haopeng Technology**, which are positioned to benefit from the shift towards steel shell batteries in consumer electronics [1][6][24]. Core Insights and Arguments - **Advantages of Steel Shell Batteries**: Compared to traditional aluminum-plastic soft packs, steel shell batteries offer better heat dissipation, higher strength, and flexible structures, enhancing device safety, battery life, and design innovation [1][3][5]. - **Market Demand**: Apple has begun using steel shell batteries in its Pro series and plans to expand this to more models, including ultra-thin and foldable versions. Samsung is also adopting steel shell batteries in its new SS26 model [2][5]. - **Projected Growth**: - Lianying Laser expects new orders in consumer electronics to reach **1.2-1.5 billion yuan** in 2025, with potential to exceed **1.8 billion yuan** in 2026 [1][9]. - Zhuhai Guanyu anticipates its market share in Apple's steel shell battery segment to rise from **10%** in 2024 to over **20%** in 2025 and nearly **40%** in 2026, with revenues projected at **3.5 billion yuan** in 2025 and **5 billion yuan** in 2026 [1][16]. - Haopeng Technology is expected to generate over **6 billion yuan** in revenue in 2025, benefiting from growth in laptops, wearables, and AI products [1][20]. Additional Important Insights - **Impact of EU Regulations**: The EU's environmental legislation is a significant driver for companies like Apple and Samsung to transition to steel shell batteries, which meet the new recyclability standards [5][25]. - **Market Potential Beyond Smartphones**: Other Apple products, such as iPads, computers, headphones, and watches, are also expected to adopt steel shell batteries, potentially creating an additional **2 billion yuan** in demand [11][12]. - **Lianying Laser's Competitive Edge**: As Apple's exclusive supplier, Lianying Laser has a strong position in the laser welding sector, which is crucial for steel shell battery production [13][15]. - **Android Market Potential**: The demand for steel shell batteries among Android manufacturers is significant, with estimates suggesting that **50-60%** of the market could shift to steel shell batteries, representing a market space of **4-4.8 billion yuan** [3][14]. - **Zhuhai Guanyu's Performance**: The company is experiencing a recovery in the consumer electronics sector, with a projected revenue of **12.5 billion yuan** in 2025 and **16 billion yuan** in 2026, driven by new customer acquisitions and increased production capacity [17][18]. Conclusion The steel shell battery industry is poised for significant growth, driven by regulatory changes and technological advancements. Key players like Zhuhai Guanyu, Lianying Laser, and Haopeng Technology are well-positioned to capitalize on this trend, with substantial revenue and market share growth expected in the coming years.

Investment Rating - The investment rating for the company is maintained as "Buy" [2] Core Insights - The report highlights the launch of new photovoltaic products, indicating strong growth potential from the company's diversified business layout [8] - The company has released several cutting-edge products at the 2025 SNEC Shanghai Photovoltaic Exhibition, including a perovskite laser scribing machine and advanced laser equipment for battery production [5][8] - The financial forecast has been revised upwards due to better-than-expected Q1 performance and rapid growth in orders from lithium battery and consumer electronics sectors [8] Financial Data and Profit Forecast - Total revenue is projected to grow from 3,150 million in 2024 to 4,907 million by 2027, with a compound annual growth rate (CAGR) of approximately 15.5% [7][10] - The net profit attributable to the parent company is expected to increase significantly from 166 million in 2024 to 651 million by 2027, reflecting a robust growth trajectory [7][10] - The earnings per share (EPS) is forecasted to rise from 0.49 in 2024 to 1.91 in 2027, indicating strong profitability improvements [7][10]

Group 1 - The core point of the news is that the main funds in the Shanghai and Shenzhen markets experienced a net inflow of 7.138 billion yuan, with the Sci-Tech Innovation Board seeing a net outflow of 323 million yuan [1] - A total of 233 stocks saw net inflows, while 355 stocks experienced net outflows [1] - On the Sci-Tech Innovation Board, 452 stocks rose, with one stock, Tai Lingwei, hitting the daily limit, while 126 stocks declined [1] Group 2 - The top three stocks with the highest net inflow of main funds are: Han's Laser with 362 million yuan, SMIC with 349 million yuan, and Tai Lingwei with 107 million yuan [2] - The stock with the highest net outflow was Guangda Special Materials, which saw a net outflow of 158 million yuan despite a price increase of 2.91% [1][2] - There are 62 stocks that have seen continuous net inflows for more than three trading days, with Sanyou Medical leading at 10 consecutive days [2] Group 3 - The main funds' inflow ranking shows that Han's Laser had an inflow rate of 6.40% and a price increase of 0.64% [2] - Other notable stocks include Kingsoft Office with an inflow of 101 million yuan and a price increase of 3.87%, and Wealth Trend with an inflow of 100 million yuan and a price increase of 17.84% [2] - A total of 114 stocks experienced continuous net outflows, with Bohui Technology leading at 24 consecutive days of outflow [2]

Group 1: Target Price Increases - During the period from June 16 to June 22, a total of 76 target price increases were issued by brokerages, with notable increases for companies such as AsiaInfo Security, Zhongkong Technology, and Zhenyu Technology, showing target price increases of 74.14%, 70.49%, and 65.21% respectively, across the software development, automation equipment, and battery industries [1][2]. Group 2: Brokerage Recommendations - A total of 212 listed companies received brokerage recommendations during the same period, with Dongshan Precision receiving the highest number of recommendations at 7, followed by Wanda Film with 4, and Small Commodity City with 3 [3][4]. Group 3: Rating Adjustments - Brokerages raised ratings for 9 companies, including Jin Feng Technology, which was upgraded from "Hold" to "Buy" by Tianfeng Securities, and Bertley, which was upgraded from "Hold" to "Buy" by Guojin Securities [4][5]. - Conversely, 3 companies had their ratings lowered, including Lianying Laser, which was downgraded from "Buy" to "Hold" by Dongwu Securities [6][7]. Group 4: First Coverage - A total of 94 instances of first coverage were reported, with Jin Feng Technology receiving a "Buy" rating from Tianfeng Securities, and Tian Shili receiving a "Buy" rating from Dongwu Securities [6][7].

Core Viewpoint - Lianying Laser is supplying equipment for CATL's solid-state battery production line, indicating a significant partnership in the emerging solid-state battery market [1] Group 1 - Lianying Laser confirmed that CATL is an important customer, and the company provides equipment for various production lines, including solid-state batteries [1] - The global first 5GWh sulfide all-solid-state battery pilot line by CATL is set to officially start production in May 2025 [1] - The company's response does not confirm the specific details mentioned regarding the customer [1]

Investment Rating - The report initiates coverage with an "Accumulate" rating for the company [1][15] Core Views - The company is expected to benefit from the recovery in the domestic power lithium battery sector as leading manufacturers accelerate expansion [10] - The demand for laser assembly equipment is anticipated to increase significantly due to the adoption of steel shell packaging in solid-state batteries [11] - The company has been actively expanding into high-margin non-lithium battery orders, which is expected to enhance overall profitability [13] - The platform technology is being developed to create new growth avenues in large steel shell batteries and the semiconductor industry [14] - Profit forecasts indicate a net profit of 2.9 billion, 4.5 billion, and 6.1 billion yuan for 2025, 2026, and 2027 respectively, with corresponding P/E ratios of 21, 13, and 10 [15] Financial Summary - The company’s total revenue for 2023 is projected at 3.512 billion yuan, with a year-on-year growth of 24.44% [1] - The net profit attributable to shareholders is expected to be 286.29 million yuan in 2023, reflecting a year-on-year increase of 7.24% [1] - The earnings per share (EPS) for 2023 is estimated at 0.85 yuan, with a P/E ratio of 20.62 based on the current price [1] - For 2024, total revenue is expected to decline to 3.15 billion yuan, a decrease of 10.33% year-on-year, with a net profit of 165.53 million yuan, down 42.18% [8]

证券代码：688518 证券简称：联赢激光 公告编号：2025-019 2.专利号：ZL201610281225.8 3.专利权人：深圳市联赢激光股份有限公司 本发明涉及一种随动式环形滑轨自动送料装置，可自动进行诸如电池盖板 输送、夹具定位、自动上下料、激光焊接等操作，极大地降低了劳动强度以及 生产成本、使工作效率及传输精度显著提高。 二、对公司的影响 中国专利奖是由国家知识产权局与世界知识产权组织共同评选并授予的重 要奖项。该奖项旨在遴选创造质量优、运用效益好、保护能力强、管理水平佳 的高价值专利，以表彰在技术（设计）创新和经济社会发展中做出突出贡献的 专利权人及发明人（设计人），推动科技创新与产业创新深度融合，促进发展 新质生产力。 深圳市联赢激光股份有限公司 关于自愿披露获得第二十五届中国专利优秀奖的公告 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。 国家知识产权局于近日发布了《关于第二十五届中国专利奖授奖的决定》 （国知发运字〔2025〕20号），深圳市联赢激光股份有限公司（以下简称"公 司"）的发明专利"一种随 ...