Group 1 - The core point of the news is that Lianying Laser's stock price has dropped by 5.02%, currently trading at 24.20 CNY per share, with a total market capitalization of 8.26 billion CNY [1] - Lianying Laser, established on September 22, 2005, specializes in the research, production, and sales of precision laser welding machines and automated laser welding equipment [1] - The company's main business revenue composition includes: 59.01% from automated laser welding equipment, 19.69% from workbenches, 13.61% from other sources, and 7.69% from lasers and laser welding machines [1] Group 2 - Green Fund has a significant holding in Lianying Laser, with its Green Carbon Neutral Theme Mixed A Fund (015856) reducing its stake by 10,800 shares in the second quarter, now holding 25,200 shares, which constitutes 8.83% of the fund's net value [2] - The Green Carbon Neutral Theme Mixed A Fund was established on January 18, 2023, with a current size of 3.4078 million CNY, achieving a year-to-date return of 64.53% [2] - The fund's performance ranks 387 out of 8,162 in its category this year and 256 out of 8,015 over the past year, with an overall return of 64.88% since inception [2]

Core Viewpoint - The report from Dongwu Securities highlights a positive outlook for the growth of new orders for power and energy storage cell equipment manufacturers, driven by the recovery in demand for power batteries and energy storage cells starting from Q2 2024 [1][3]. Group 1: Market Dynamics - From 2022 to Q2 2024, the expansion of battery manufacturers has significantly slowed due to supply and demand issues in the power battery sector, leading to pressure on new orders for equipment manufacturers [1][3]. - Since Q2 2024, there has been a rapid increase in sales of new energy vehicles, resulting in a rebound in power battery installation volume and an expansion in demand for energy storage cells [1][3]. - Major battery manufacturers such as CATL and BYD have seen their capacity utilization rates approach full capacity, prompting a restart of capital expenditures since Q4 2024 [1][3]. Group 2: Export Regulations - The Ministry of Commerce and the General Administration of Customs announced that certain lithium battery materials and core manufacturing equipment will be subject to export controls, effective from October 9 [2]. - The new export control does not equate to a ban; companies can still engage in export activities through a licensing application process, benefiting compliant enterprises with global operational experience [2]. Group 3: Competitive Landscape - Chinese lithium battery equipment manufacturers are positioned competitively on a global scale, with key players in overseas expansion including Japanese and Korean battery manufacturers, as well as new entrants from Europe and the U.S. [2]. - The report expresses optimism about the overseas expansion of Chinese battery manufacturers and automotive companies, highlighting that domestic equipment manufacturers like Xian Dai and Hanke possess global competitiveness [2]. Group 4: Investment Recommendations - The report recommends focusing on full-line equipment suppliers such as Xian Dai Intelligent, laser welding equipment manufacturers like Lianying Laser, and formation and capacity equipment suppliers like Hanke Technology [3]. - Other companies to watch include fiberization equipment manufacturers, roller press suppliers, and various electrode equipment manufacturers [3].

Core Viewpoint - Shenzhen United Laser Co., Ltd. is set to hold a half-year performance briefing on October 20, 2025, to discuss its operational results and financial status for the first half of 2025, allowing investors to engage in Q&A sessions [2][3]. Group 1: Event Details - The performance briefing will take place on October 20, 2025, from 16:00 to 17:00 via the Shanghai Stock Exchange Roadshow Center [4][7]. - Investors can participate online and submit questions from October 14 to October 17, 2025, before 16:00 [6][8]. Group 2: Participants - Key company personnel attending the briefing include Chairman Han Jinlong, Vice Chairman and General Manager Jia Song, and Independent Director Pei Fei, among others [5]. Group 3: Contact Information - For inquiries, investors can contact the Board Office at 0755-86001062 or via email at ir@uwlaser.com [8].

证券代码：688518 证券简称：联赢激光 公告编号：2025-024 深圳市联赢激光股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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、准确性和完整性承担个别及连带责任。 重要内容提示： 本次投资者说明会以网络互动形式召开，公司将针对 2025 年半年度经营成 果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围 内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 本次说明会将于 2025 年 10 月 20 日（星期一）16:00-17:00 在上证路演中 心（https://roadshow.sseinfo.com/）以网络互动方式召开。 1 三、参加人员 会议召开时间：2025 年 10 月 20 日（星期一）16:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 10 月 14 ...

Investment Rating - The report maintains a "Buy" rating for the electric equipment and new energy industry [1] Core Insights - The lithium battery sector is experiencing a seasonal demand increase, with lithium carbonate and lithium hydroxide prices rising by 20% in September [1][6] - In August, domestic wholesale sales of new energy passenger vehicles reached 1.18 million units, reflecting a year-on-year increase of 22% and a month-on-month increase of 10% [1][4] - The report highlights the importance of solid-state battery technology and its potential breakthroughs in addressing interface issues, which are critical for commercialization [3][18] Summary by Sections Monthly Research Insights - The report discusses solutions to solid-solid interface issues in solid-state battery manufacturing, emphasizing the need for breakthroughs in physical, chemical, and mechanical dimensions [3][13] Industry Sentiment Tracking and Review - New energy vehicle sales in August showed strong growth, with China, Europe, and the US leading the market [4][22] - Domestic energy storage installations in August reached 12.6 GWh, a year-on-year increase of 58% [5][28] - The report forecasts a significant increase in lithium battery production in October, with year-on-year growth expected to be between 21% and 50% [5][34] Price and Volume Analysis - Lithium battery material prices are on the rise, with lithium carbonate and lithium hydroxide prices increasing by 20% in September [6][35] - The report notes that the lithium battery supply chain is entering a replenishment phase, with inventory levels rising [39] New Technology Developments - Solid-state batteries and composite current collectors are entering a critical engineering and industrialization phase, with significant orders expected for 2025 [6][44] - The report identifies key investment opportunities in solid-state battery technology, particularly in dry processing and isostatic pressing equipment [18][21] Investment Recommendations - The report recommends focusing on leading companies in the lithium battery sector and those involved in solid-state technology breakthroughs, such as CATL and EVE Energy [7][21]

Core Viewpoint - The company emphasizes significant investment in technology research and development, establishing extensive collaborations with various universities and research institutes to enhance its capabilities in laser technology [1] Group 1: Research and Development - The company has formed partnerships with several prestigious institutions, including Shenzhen University, South China Normal University, Hong Kong Polytechnic University, South China University of Technology, Huazhong University of Science and Technology, Harbin Institute of Technology, Zhejiang University of Technology, and the Semiconductor Research Institute of the Chinese Academy of Sciences [1] - The company focuses on the independent development of laser welding heads and other optical systems, with power capabilities ranging from 5W to 6000W and wavelengths from ultraviolet 266nm to 2000nm [1] - The company has successfully developed the first domestic multi-wavelength coaxial composite welding head, achieving a combined power of 6000W, placing it in a leading position within the industry [1] Group 2: Intellectual Property - As of June 30, 2025, the company has obtained a total of 477 patents, including 55 invention patents, and holds 276 software copyrights [1]

Investment Rating - The report maintains a "Recommendation" rating for the lithium battery equipment industry [2] Core Viewpoints - The lithium battery equipment sector is experiencing a recovery in demand, driven by both traditional lithium battery needs and new solid-state battery technologies, leading to a significant rebound in stock prices [5][10] - The overall revenue for the lithium battery equipment sector in Q2 2025 reached 12.347 billion, marking a year-on-year increase of 9.93%, while net profit attributable to shareholders was 434 million, a decrease of 12.76% [14][19] - The report highlights a fundamental turning point in the industry, with new orders beginning to recover after a downturn [9][14] Summary by Sections 1. Overview of Lithium Battery Equipment Mid-Year Report 2025 - The report analyzes the operational performance of 13 key listed companies in the lithium battery equipment sector, confirming a turning point in the fundamentals and a recovery in new orders [9] 2. Market Performance - The lithium battery equipment index has outperformed the broader market, with a year-to-date increase of 130.14% compared to a 17.84% rise in the CSI 300 index [10] - The sector's performance is attributed to fundamental changes, advancements in solid-state battery technology, and favorable policy expectations [10] 3. Mid-Year Report Summary - The lithium battery equipment sector achieved a total revenue of 21.476 billion in H1 2025, a slight decrease of 0.35% year-on-year, while net profit was 920 million, down 37.20% [14][16] - The report notes that the revenue growth in Q2 2025 ended a four-quarter decline, indicating a recovery in the revenue stream [14][19] 4. Future Outlook - The solid-state battery industry is approaching commercialization, with significant implications for equipment demand and value [5][43] - The report anticipates that the global market for semi-solid battery equipment could reach 62.44 billion by 2030, with a CAGR of 59% from 2024 to 2030 [5] - The solid-state battery market is projected to reach 45.50 billion by 2030, with a CAGR of 159% from 2024 to 2030 [5] 5. Investment Recommendations - The report suggests focusing on companies involved in the "selling shovel" logic, particularly those engaged in the upstream dry process equipment [5] - Key companies to watch include Naconoer, Xinyuren, Honggong Technology, and Mannester for their potential in the new technology segment [5] - The report also highlights leading companies with established relationships with major battery manufacturers, such as Xian Dao Intelligent, Yinghe Technology, Liyuanheng, and Hangke Technology [5]

Core Insights - The ultraviolet laser industry is experiencing rapid growth due to its precision and energy control characteristics, particularly in high-tech fields such as semiconductors, consumer electronics, and biomedical applications [1][9] - The market size of China's ultraviolet laser industry is projected to grow from 1.9 billion yuan in 2018 to 5.308 billion yuan in 2024, with a compound annual growth rate (CAGR) of 18.68% [1][9] - The demand for ultraviolet lasers is expected to expand further with the development of emerging technologies like 5G, artificial intelligence, and the Internet of Things [1][9] Industry Overview - Ultraviolet lasers are defined as lasers with output wavelengths ranging from 10 to 400 nm, suitable for research, industrial applications, and OEM system integration [3] - The ultraviolet laser industry is supported by various national policies aimed at promoting key technologies and encouraging the development of laser medical devices [5] Industry Chain - The ultraviolet laser industry chain consists of upstream raw materials (optical materials, optical components, mechanical parts, etc.), midstream production and manufacturing, and downstream applications in fields such as medical devices, semiconductor testing, and communications [6][7] Market Size and Growth - The Chinese optical chip market is also expanding, with its size projected to grow from 8.23 billion yuan in 2019 to 15.86 billion yuan in 2024, reflecting a CAGR of 14.02% [8] - The medical device market in China is expected to reach approximately 1.13 trillion yuan in 2024, growing by 9.09% year-on-year [8] Competitive Landscape - The global ultraviolet laser market is growing rapidly, with significant demand in Asia, particularly in Japan and South Korea, while Europe maintains stable demand and North America continues to see strong growth driven by technological innovation [10] - Key domestic companies in the ultraviolet laser sector include Inno Laser, Han's Laser, Raycus Laser, and Huagong Tech, which are increasing their R&D investments to enhance product performance and market share [10] Development Trends - The industry is focusing on high power, high repetition frequency, and high precision as key development trends [12][13][14] - High power ultraviolet lasers are increasingly demanded for precision manufacturing and aerospace applications, while high repetition frequency lasers are enhancing processing efficiency in semiconductor and OLED applications [12][13] - High precision remains a core pursuit, with advancements aimed at achieving sub-micron processing accuracy and low line width in applications such as PCB drilling and medical device micro-processing [14]

Group 1 - The core viewpoint of the news is that Lianying Laser has seen a significant increase in its stock price, with a rise of 5.06% to 27.84 CNY per share, and a total market capitalization of 9.502 billion CNY as of the report date [1] - Lianying Laser, established on September 22, 2005, specializes in the research, production, and sales of precision laser welding machines and automated laser welding equipment, with its main business revenue composition being 59.01% from automated welding equipment, 19.69% from workbenches, 13.61% from other sources, and 7.69% from lasers and welding machines [1] Group 2 - From the perspective of major fund holdings, one fund under Galaxy Fund has a significant position in Lianying Laser, with the Galaxy Quantitative Stable Mixed Fund (005126) holding 5,992 shares, accounting for 1.79% of the fund's net value, ranking as the sixth largest holding [2] - The Galaxy Quantitative Stable Mixed Fund (005126) has shown a year-to-date return of 29.54%, ranking 2,966 out of 8,244 in its category, and a one-year return of 74.3%, ranking 1,410 out of 8,066 [2]

格隆汇9月18日丨联赢激光(688518.SH)在投资者互动平台表示，公司是新凯莱的合格供应商。 ...