Market Overview - The Shanghai Composite Index closed at 3363.48 points, above the five-day moving average, with an increase of 0.48% [1] - The total trading volume of A-shares reached 763.885 billion yuan [1] Stock Performance - A total of 929 A-shares broke through the five-day moving average today [1] - Stocks with significant deviation rates include: - Laisai Laser (21.79%) - Kangliyuan (11.86%) - Mankalon (10.78%) [1] Top Stocks by Deviation Rate - Laisai Laser (871263): - Today's change: +30.00% - Turnover rate: 38.87% - Five-day moving average: 19.53 yuan - Latest price: 23.79 yuan - Deviation rate: 21.79% [1] - Kangliyuan (301287): - Today's change: +17.32% - Turnover rate: 32.85% - Five-day moving average: 35.00 yuan - Latest price: 39.15 yuan - Deviation rate: 11.86% [1] - Mankalon (300945): - Today's change: +19.98% - Turnover rate: 18.47% - Five-day moving average: 22.66 yuan - Latest price: 25.10 yuan - Deviation rate: 10.78% [1] Additional Notable Stocks - Beitaini (300957): - Today's change: +11.83% - Turnover rate: 4.22% - Five-day moving average: 45.58 yuan - Latest price: 49.44 yuan - Deviation rate: 8.48% [1] - Jiuling Technology (873305): - Today's change: +10.00% - Turnover rate: 13.81% - Five-day moving average: 42.79 yuan - Latest price: 46.20 yuan - Deviation rate: 7.98% [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company reported a Q1 revenue of 715 million yuan, a year-over-year decrease of 10.72%, and a net profit attributable to shareholders of 17 million yuan, down 73.36% year-over-year, which aligns with expectations [5][8] - The company is focusing on the development of manufacturing and new production capabilities, actively expanding into emerging industries such as robotics, semiconductor manufacturing, and laser applications in various fields [8] - The company plans to increase investment in special laser applications, enhancing the performance and stability of laser products to meet high precision and reliability requirements in specialized fields [8] - Profit forecasts for 2025 to 2027 indicate a net profit attributable to shareholders of 178 million, 275 million, and 361 million yuan respectively, with corresponding year-over-year growth rates of 32.8%, 54.2%, and 31.2% [8] Financial Data and Profit Forecast - Q1 2025 total revenue is projected at 3,466 million yuan, with a year-over-year growth rate of 8.4% [7] - The company expects to achieve a gross margin of 22.4% in 2025, increasing to 24.2% by 2027 [7] - The return on equity (ROE) is forecasted to improve from 0.5% in Q1 2025 to 8.9% by 2027 [7]

（1）现场会议时间：2025 年 5 月 19 日（星期一）15:00 证券代码：300747 证券简称：锐科激光 公告编号：2025-034 武汉锐科光纤激光技术股份有限公司 2024 年年度股东大会决议的公告 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。 特别提示： 1.本次股东大会未出现否决议案的情形。 2.本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1.召开时间： （2）网络投票时间： ①通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 5 月 19 日 9:15-9:25、9:30-11:30、13:00-15:00。 ②通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 5 月 19 日 9:15—15:00 期间的任意时间。 2.召开地点：武汉市东湖新技术开发区未来科技城龙山南街一号武汉锐科光 纤激光技术股份有限公司研发楼； 3.召开方式：现场投票与网络投票相结合的方式； 4.召集人：公司董事会； 5.主持人：公司董事长陈正兵先生； 6.本次会议的召集、召开与表决程序 ...

广东信达律师事务所 法律意见书 中国 深圳 福田区 益田路 6001 号太平金融大厦 11、12 楼 邮编：518038 电话：（0755）88265288 传真：（0755）88265537 电子邮箱：info@sundiallawfirm.com 网站：www.sundiallawfirm.com 广东信达律师事务所 关于武汉锐科光纤激光技术股份有限公司 2024 年年度股东大会的法律意见书 信达会字[2025]第 132 号 致：武汉锐科光纤激光技术股份有限公司 广东信达律师事务所（下称"信达"）接受武汉锐科光纤激光技术股份有限 公司（下称"锐科激光"或"公司"）的委托，指派信达律师出席锐科激光 2024 年年度股东大会（下称"本次股东大会"），对锐科激光本次股东大会的合法性进 行见证，并出具本《广东信达律师事务所关于武汉锐科光纤激光技术股份有限公 司 2024 年年度股东大会的法律意见书》（下称"本法律意见书"）。 本法律意见书系根据《中华人民共和国公司法》（下称"《公司法》"）、《上市 公司股东会规则》（下称"《股东会规则》"）等法律、法规、规范性文件以及现行 有效的《武汉锐科光纤激光技术股份有限公 ...

Core Insights - The 20th "China Optics Valley" International Optoelectronics Expo opened in Wuhan, integrating the "International Light Day" global series of events, attracting 390 renowned companies from 12 countries and regions to showcase nearly 100 cutting-edge technologies in the optoelectronics field [1][2] - The expo resulted in the signing of 20 major investment projects in Hubei, totaling 19.52 billion yuan, covering areas such as optical communication, integrated circuits, compound semiconductors, new displays, and artificial intelligence [1] - Notable product launches included China's first 5 million pixel infrared detector and the world's most advanced 1.6T single-mode optical module, among others [1] Industry Highlights - The expo featured key players in the laser and optics sector, including local leaders like Huagong Technology and Ruike Laser, as well as international giants from France, the USA, and Russia [2] - The optical communication sector showcased major companies such as Huawei and China Information Communication Technologies, highlighting the expanding demand for optical communication in the AI era [2] - The "Light + Intelligent Terminal Applications" section allowed attendees to experience laser radar-enabled autonomous vehicles and robots, demonstrating the practical applications of optoelectronic technology in smart transportation [2] International Engagement - The event attracted 73 foreign guests from countries like Gambia and Malaysia, who expressed a desire to collaborate with Chinese companies, particularly in semiconductor materials [3] - The expo has a history of facilitating international dialogue, with 19 previous events attracting over 6,800 top enterprises from more than 30 countries [3] - This year's event is expected to draw 60,000 professional visitors and host over 20 meetings and special activities across six application areas [3]

Group 1: 2024 Annual Performance - In 2024, the company shipped 174,700 units, a year-on-year increase of 9.77% [3] - The revenue for 2024 was 3,197.31 million yuan, a decrease of 13.11% compared to the previous year [3] - The gross margin level remained stable, with a slight decline of 0.85% year-on-year [3] - R&D expenses totaled 355 million yuan, accounting for 11.10% of revenue, with a year-on-year increase of 4.97% [3] Group 2: Q1 2025 Performance - In Q1 2025, the company reported revenue of 715.25 million yuan, a year-on-year decrease of 10.72% [5] - Net profit for Q1 2025 was 16.93 million yuan, down 73.36% year-on-year [5] - The company experienced a 15.41% year-on-year increase in product shipments during Q1 2024 [5] Group 3: Strategic Goals and Market Expansion - The company aims to shift market focus from traditional markets to high-end manufacturing and overseas markets [5] - Plans to enhance R&D capabilities and introduce customized solutions to meet client needs [5] - The company is committed to not initiating price wars, maintaining a stable financial system to handle market fluctuations [6] Group 4: International Market Growth - Overseas revenue reached 197 million yuan, a year-on-year increase of nearly 40% [8] - The company plans to establish offices in Germany, Mexico, Thailand, and South Korea to enhance global service capabilities [8] - The CE continuous product sales saw a significant increase of 123.92% year-on-year in 2025 [8] Group 5: R&D and Innovation - Continuous R&D investment focuses on both traditional product iteration and emerging technology breakthroughs [9] - The company successfully developed the first domestic integrated device for fiber stripping, cutting, and welding [9] - Future R&D efforts will prioritize product miniaturization, lightweight innovation, and stability upgrades [9]

Investment Rating - The industry investment rating is "Positive" (maintained) [5] Core Insights - The recent escalation of the India-Pakistan conflict has highlighted the urgent demand for anti-drone technologies, particularly laser weapons [1] - The rapid development and effectiveness of drone technology have made drones a crucial platform in modern warfare, as evidenced by their extensive use in conflicts such as Ukraine and the Middle East [1] - The global anti-drone market is projected to grow significantly, from $843 million in 2021 to $5.7 billion by 2029, reflecting a compound annual growth rate (CAGR) of 27% [2] - Laser weapons offer distinct advantages over traditional weaponry, including minimal collateral damage, low operational costs, and rapid response times, making them ideal for countering low-altitude drone threats [2] Company Summaries - **Raycus Laser**: A leading fiber laser manufacturer, with product shipments expected to reach 174,700 units in 2024, a year-on-year increase of 9.77%. The company is actively investing in laser applications for anti-drone systems, which could unlock a market potential worth billions in low-altitude security [3] - **Lianchuang Optoelectronics**: The company specializes in laser components, with its laser countermeasure system successfully passing inspections in early 2023. The approval for export of its laser countermeasure systems is anticipated to further enhance growth driven by domestic and international demand [3] - **Changguang Huaxin**: The report emphasizes the importance of focusing on leading companies with high market shares that will benefit from the improving downstream market conditions [3]

Investment Rating - The industry investment rating is "Positive" (maintained) [5] Core Insights - The recent escalation of the India-Pakistan conflict has highlighted the urgent demand for anti-drone technologies, particularly laser weapon systems [1] - The rapid development and effectiveness of drone technology have made drones a crucial platform in modern warfare, as evidenced by their extensive use in conflicts such as Ukraine and the Middle East [1] - The global anti-drone market is projected to grow significantly, from USD 843 million in 2021 to USD 5.7 billion by 2029, reflecting a compound annual growth rate (CAGR) of 27% [2] Summary by Sections Section 1: Industry Overview - The conflict between India and Pakistan has led to increased military drone usage, emphasizing the need for effective countermeasures [1] - Drones are now recognized as vital combat platforms in various global conflicts, performing tasks such as reconnaissance and electronic warfare [1] Section 2: Market Growth - The anti-drone market is expected to expand rapidly due to both military applications and the rise of unauthorized civilian drone flights [2] - Laser weapon systems are particularly advantageous for countering drones due to their low collateral damage, cost-effectiveness, and rapid response capabilities [2] Section 3: Investment Recommendations - Key companies to focus on include: - Raycus Laser, a leader in fiber laser technology, with a projected shipment of 174,700 units in 2024, a year-on-year increase of 9.77% [3] - Lianchuang Optoelectronics, which has successfully developed laser countermeasure systems and is expected to see growth driven by domestic and foreign demand [3] - Changguang Huaxin, which is also positioned to benefit from the rising demand in the laser weapon sector [3]

武汉锐科光纤激光技术股份有限公司 证券代码：300747 证券简称：锐科激光 公告编号：2025-033 第四届董事会第十二次会议决议的公告 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 2025 年 5 月 14 日 10:00 以通讯会议形式召开了第四届董事会第十二次会议， 会议由公司董事长陈正兵先生召集并主持。通知已于 2025 年 5 月 9 日以电子邮 件方式送达全体董事。本次会议应参加董事 9 人，实际参加董事 9 人，公司全体 监事、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。 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《关于公司拟设立德国、 墨西哥、泰国、韩国办事处的议案》。 公司为深化国际化战略布局，提升海外本土市场推广、技术服务和应用工艺 等，增强整体竞争实力，在德 ...

Group 1: 3D Printing Technology Development - The development of smart manufacturing technology has made 3D printing an important force in cultivating new productive forces in China [1] - 3D printing technology is transitioning from an optional choice to a necessary option in high-end manufacturing fields such as aerospace [7] - The global 3D printing market is expected to reach $88.3 billion by 2030, while the Chinese 3D printing equipment market is projected to exceed 120 billion yuan by 2029, with a compound annual growth rate of approximately 19.5% from 2024 to 2029 [7] Group 2: Company Activities in 3D Printing - Companies like Protolabs predict significant growth in the 3D printing market, indicating a robust future for the industry [7] - A-share market has over 30 stocks related to 3D printing, with companies like Jinggong Technology focusing on robot-related 3D printing equipment [7] - Aitide has developed 3D printing zirconia ceramic technology and has received FDA and NMPA registration for its high solid content printing materials [7] Group 3: Market Performance and Trends - The average increase of 3D printing concept stocks is 17.18% year-to-date, with four stocks seeing cumulative gains over 50% [10] - Sixteen 3D printing concept stocks have seen a daily average trading volume increase of over 10% since May, with five stocks doubling their trading volume [11] - As of May 12, eight stocks have a rolling price-to-earnings ratio below 40, indicating potential investment opportunities [11]