上 市 公 司 公 司 研 究 / 公 司 点 评 机械设备 2026 年 03 月 20 日 锐科激光 (300747) ——25Q4 业绩 yoy204.25%，多款产品重磅亮相光博会 报告原因：有业绩公布需要点评 买入（维持） 联系人 何佳霖 A0230523080002 hejl@swsresearch.com | 市场数据： | 2026 年 03 月 19 日 | | --- | --- | | 收盘价（元） | 28.78 | | 一年内最高/最低（元） | 36.91/16.06 | | 市净率 | 4.8 | | 股息率%（分红/股价） | 0.17 | | 流通 A 股市值（百万元） | 14,657 | | 上证指数/深证成指 | 4,006.55/13,901.57 | | 注："股息率"以最近一年已公布分红计算 | | | 基础数据: | 2025 年 09 月 30 日 | | --- | --- | | 每股净资产（元） | 5.97 | | 资产负债率% | 35.65 | | 总股本/流通 A 股（百万） | 562/509 | | 流通 B 股/H 股（百万） | -/- ...

证券代码：300747 证券简称：锐科激光 公告编号：2026-014 武汉锐科光纤激光技术股份有限公司 第四届董事会第二十三次会议决议的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 武汉锐科光纤激光技术股份有限公司（以下简称"锐科激光"或"公司"） 于2026年3月13日10:00以通讯会议形式召开了第四届董事会第二十三次会议， 会议由公司董事长陈正兵先生召集并主持。通知已于 2025 年 3 月 8 日以电子邮 件方式送达全体董事。公司现有董事 9 人，参加表决董事 9 人，公司部分高级管 理人员列席会议。会议的召集、召开与表决程序符合《中华人民共和国公司法》 （以下简称《公司法》）和《公司章程》及相关法律法规的规定，所作决议合法 有效。 1 为进一步完善公司法人治理结构，建立科学规范的决策机制，提高决策质量 和效率，结合公司实际，修订了《武汉锐科光纤激光技术股份有限公司总经理办 公会议事规则》。 二、董事会会议审议情况 会议审议通过了如下议案： 1．以 9 票赞成，0 票反对，0 票弃权，审议通过了《关于调整锐科激光组 织 ...

证券代码：300747 证券简称：锐科激光 公告编号：2026-013 武汉锐科光纤激光技术股份有限公司 2025年前三季度权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 1.2026年2月13日，武汉锐科光纤激光技术股份有限公司（以下简称"公 司"或者"本公司"）2026年第一次临时股东会审议通过了《关于公司2025年 前三季度利润分配预案的议案》，具体如下：公司以561,600,000股为基数，每 10股派发现金股利0.32元（含税），合计派发现金股利17,971,200.00元，不实 施公积金转股本及派发股票股利等其他措施。若在利润分配方案实施前股本总 数发生变动的，则以未来实施分配方案的股权登记日的总股本为基数，按照分 配比例不变的原则对分配总额进行调整。 2.本次实施的分配方案与股东会审议通过的分配方案及其调整原则一致。 3.本次权益分派方案实施时间距离股东会审议通过时间未超过两个月。 本公司2025年第三季度权益分派方案为：以公司现有总股本561,600,000股 为基数，向全体股东每10股派0.320000元人民币现金（含税；扣 ...

证券代码：300747 证券简称：锐科激光 公告编号：2026-012 武汉锐科光纤激光技术股份有限公司 | 营业总收入 | 346,695.69 | 319,730.82 | 8.43% | | --- | --- | --- | --- | | 营业利润 | 15,382.34 | 12,048.29 | 27.67% | | 利润总额 | 15,359.74 | 12,173.78 | 26.17% | | 归属于上市公司股东的净利润 | 16,639.44 | 13,427.29 | 23.92% | | 扣除非经常性损益后的归属于 上市公司股东的净利润 | 8,864.08 | 2,983.73 | 197.08% | | 基本每股收益（元） | 0.2963 | 0.2391 | 23.92% | | 加权平均净资产收益率 | 4.96% | 4.09% | 0.87% | | 总资产 | 535,167.61 | 531,510.82 | 0.69% | | 归属于上市公司股东的所有者 权益 | 341,913.23 | 327,094.46 | 4.53% | | 股本 | 56,160.00 ...

Group 1: Gas Turbine Sector - The gas turbine sector is emphasized due to deep penetration into overseas supply chains and the dual logic of domestic aviation reform, which is expected to resonate positively[3] - The North American AIDC demand expansion, coupled with aging power grids, is leading to a structural power supply gap that is continuously increasing[6] - The global gas turbine market is highly concentrated, with GE Vernova, Siemens Energy, and Mitsubishi Heavy Industries collectively holding about 85% market share[32] Group 2: Commercial Aerospace - The commercial aerospace sector is expected to see a new round of catalysts with the successful testing of reusable rocket technology, enhancing the prospects for commercial space ventures[38] - China's G60 satellite constellation plans to launch 1,296 satellites by the end of 2027 and 15,000 by 2030, indicating a significant demand for satellite launches[51] - The application end of the aerospace sector is focusing on core components such as communication terminal basebands, RF chips, and phased array antennas, which are expected to see stable or increasing value under cost reduction trends[55] Group 3: 3D Printing - The industrial-grade 3D printing sector is poised for a breakthrough due to material cost reductions and equipment efficiency improvements, marking a significant turning point for mass adoption[58] - The consumer-grade 3D printing market is accelerating towards a creative era, driven by AI empowerment, ecosystem strengthening, and supply chain cost reductions[68] - In 2025, the export value of 3D printers from China is projected to reach 11.355 billion yuan, reflecting a year-on-year growth of 39.1%[73] Group 4: Tungsten Market - The price of tungsten has surged significantly, with 65% black tungsten concentrate reaching 800,000 yuan per ton, up 73.91% since the beginning of 2026[80] - The increase in tungsten prices is driven by tightened supply and strategic pricing, with China's export controls on tungsten and other strategic metals contributing to this trend[79] - Companies with mining assets or expectations of asset injections, such as Zhongtung High-tech and Xiamen Tungsten, are expected to benefit directly from rising tungsten prices[81]

Core Viewpoint - The A-share market saw a significant rise in commercial aerospace stocks, driven by the upcoming launch of the reusable liquid rocket by China Aerospace, which is expected to enhance the commercial launch capabilities and frequency in the industry [1]. Group 1: Stock Performance - SpringHui Intelligent Control surged over 16%, with a total market value of 76.33 billion and a year-to-date increase of 80.22% [2]. - Tongguang Cable increased by 12%, with a market capitalization of 88.19 billion and a year-to-date rise of 40.75% [2]. - Zhongke Environmental Protection rose by 11.27%, with a market value of 106 billion and a year-to-date increase of 22% [2]. - Huafeng Technology saw an 11.22% increase, with a market capitalization of 562 billion and a year-to-date rise of 21.77% [2]. - Hongyuan Electronics and other companies also experienced significant gains, with increases ranging from 6% to 10% [2]. Group 2: Upcoming Launch Plans - China Aerospace's reusable liquid rocket, the Lijian-2, is scheduled for its maiden flight in late March 2023, carrying the initial sample of the Light Boat-1 cargo spacecraft [1]. - The company has planned four launches within the year, focusing on satellite internet networking and major national tasks [1]. - The solid rocket, Lijian-1, is set for at least eight launches this year, including two maritime launches, reinforcing its position in commercial launches [1]. - A proposal for 13 launches in 2026 has been submitted, with aspirations for an additional 1-2 missions, aiming for record-high launch frequency and task density [1].

Group 1: Robotics - Ningbo Huaxiang is in the final stages of development and testing for its 6-degree-of-freedom dexterous hand product [1] Group 2: AI - Kaipu Cloud has established an AI hardware carrier entity, pursuing both organic growth and external mergers and acquisitions [1] Group 3: Aerospace - A partnership has been established between Haozhi Electromechanical and Blue Arrow Aerospace [1] - Jiuding New Materials has a small market share in aerospace-related products [1] Group 4: Electronics - Beijing Junzheng currently has no plans to develop 3D SRAM [1] - Sdic's MLCC release film products have achieved full coverage among domestic customers, with overseas leading customers in the verification stage [1] - Jiuding New Materials has not engaged in electronic-grade glass fiber-related business [1] Group 5: Chemical - Dongfang Electric's pre-plated nickel material supply volume has increased compared to 2025 [1] Group 6: Satellite - Electric Science and Technology Blue Sky has an 82% participation rate in the development of the State Grid constellation satellite, with Qianfan Constellation's aerospace power supply being exclusively supplied [1] Group 7: Other - Kai Ge Precision Machinery has delivered 800G and 1.6T optical module automation assembly product lines to overseas customers [1] - Xiyes Co. anticipates that the rising price of indium in the market will have a positive impact on its performance [1] - Jiadian Co. has never released any performance forecast data for 2025 in any form [1]

每经AI快讯，有投资者在投资者互动平台提问：睿芯光纤是否考虑独立上市？ 锐科激光（300747.SZ）2月25日在投资者互动平台表示，睿芯光纤是锐科激光的全资子公司，截至目 前，公司未在公开披露的信息中提到睿芯光纤的独立上市计划。如有重大事项，公司将严格遵守信息披 露规定，及时履行披露义务。 （文章来源：每日经济新闻） ...

证券日报网讯2月25日，锐科激光（300747）在互动平台回答投资者提问时表示，公司光纤激光器业务 占比情况和专利情况请关注公司定期报告。 ...

证券日报网讯2月25日，锐科激光（300747）在互动平台回答投资者提问时表示，公司2026年2月13日股 东人数为47005户。 ...