证券代码：300747 证券简称：锐科激光 公告编号：2025-032 武汉锐科光纤激光技术股份有限公司 关于 2025 年第一季度计提资产减值准备的公告 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。 依据《企业会计准则》《深圳证券交易所创业板股票上市规则》《上市公司自 律监管指引第 2 号——创业板上市公司规范运作》及公司会计政策相关规定，武 汉锐科光纤激光技术股份有限公司（以下简称"公司"）2025 年第一季度对可能 发生减值损失的资产计提减值准备，计提资产减值准备合计 24,923,549.83 元。 现将具体情况公告如下： 一、本次计提减值准备情况概述 （一）本次计提资产减值准备的原因 根据《企业会计准则》《深圳证券交易所创业板股票上市规则》《上市公司自 律监管指引第 2 号——创业板上市公司规范运作》及公司会计政策等相关规定， 为了更加真实、公允、准确地反映公司截至 2025 年 03 月 31 日的财务状况、资 产价值及经营成果，公司对 2025 年第一季度末的各类资产进行了全面清查及资 产减值测试，对存在减值迹象的资产计提相应减值准备。 （二） ...

证券代码：300747 证券简称：锐科激光 公告编号：2025-031 武汉锐科光纤激光技术股份有限公司 关于召开2024年年度股东大会的通知 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。 一、召开会议的基本情况 1.股东大会届次：2024年年度股东大会 2.股东大会的召集人：公司董事会 3.会议召开的合法、合规性：第四届董事会第九次会议审议通过了《关于召 开公司2024年年度股东大会的议案》，本次股东大会会议召开符合有关法律、行 政法规、部门规章、规范性文件和《公司章程》的规定。 4.会议召开的日期、时间： 现场会议时间：2025年5月19日（星期一）15:00 网络投票时间：2025年5月19日，其中，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； 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。 5.会议的召开方式：现场投票与网络投票相结合。 （1）现场投票：股东本人出席现场会议或者通过授权委托书（见 ...

证券代码：300747 证券简称：锐科激光 公告编号：2025-029 武汉锐科光纤激光技术股份有限公司 第四届监事会第八次会议决议的公告 本公司及监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。 1.公司第四届监事会第八次会议决议。 特此公告。 武汉锐科光纤激光技术股份有限公司 二、监事会会议审议情况 会议审议通过了如下议案： 1、以 5 票赞成，0 票反对，0 票弃权，审议通过了《关于公司 2025 年第一 季度报告的议案》。 经审核，监事会认为：董事会编制和审核的《公司 2025 年第一季度报告》 的程序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整 地反映了公司 2025 年第一季度经营的实际情况，不存在任何虚假记载、误导性 陈述或者重大遗漏。 具体内容详见公司同日于巨潮资讯网（www.cninfo.com.cn）披露的《公司 2025 年第一季度报告》。 三、备查文件 一、监事会会议召开情况 武汉锐科光纤激光技术股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日 15:00 以现场会议形式召开了第四届监事会第八次会议，会议由公司 ...

Financial Performance - The company's revenue for Q1 2025 was ¥715,253,855.17, a decrease of 10.72% compared to ¥801,155,405.81 in the same period last year[5] - Net profit attributable to shareholders was ¥16,935,137.50, down 73.36% from ¥63,581,496.34 year-on-year[5] - The company reported a basic earnings per share of ¥0.0302, a decline of 73.32% from ¥0.1132 in the previous year[5] - Net profit for the current period is ¥18,255,423.37, down 71.7% from ¥64,528,300.83 in the previous period[24] - Earnings per share (EPS) decreased to ¥0.0302 from ¥0.1132, representing a decline of 73.3%[25] Cash Flow and Liquidity - The net cash flow from operating activities increased by 249.31% to ¥30,903,746.62, compared to a negative cash flow of -¥20,698,020.15 in Q1 2024[12] - The net increase in cash and cash equivalents was ¥95,080,630.96, a significant improvement compared to a decrease of -¥181,478,840.81 in the same period last year[12] - The company's cash and cash equivalents at the end of the period amount to ¥1,063,188,748.41, an increase from ¥975,082,058.66 at the beginning of the period[19] - The ending balance of cash and cash equivalents is ¥928,258,334.03, up from ¥619,774,997.28 at the end of the previous period[27] - Cash inflow from financing activities amounted to ¥90,000,000.00, with a net cash flow of ¥69,982,142.30, compared to a negative cash flow of -¥103,567,902.40 previously[27] Assets and Liabilities - Total assets at the end of Q1 2025 were ¥5,349,221,421.36, reflecting a slight increase of 0.64% from ¥5,315,108,238.82 at the end of the previous year[5] - Current liabilities rose to ¥1,741,594,167.46 from ¥1,727,210,757.07, an increase of 0.8%[21] - Non-current liabilities increased to ¥238,773,712.34 from ¥222,667,724.92, reflecting a growth of 7.2%[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 41,947[14] - The largest shareholder, China Aerospace Sanjiang Group Co., Ltd., holds 33.80% of shares, totaling 190,935,612 shares[14] - The second-largest shareholder, Yan Dapeng, holds 9.03% of shares, totaling 50,989,283 shares, with 38,241,962 shares under lock-up[14] - The company has a total of 38,241,962 shares under lock-up for the major shareholder Yan Dapeng, which is unchanged during the period[16] - The total number of shares held by the top ten unrestricted shareholders is 190,935,612 shares, with no changes reported[15] Operational Metrics - Total operating revenue for the current period is ¥715,253,855.17, a decrease of 10.7% from ¥801,155,405.81 in the previous period[23] - Total operating costs decreased to ¥686,916,462.94 from ¥715,036,518.01, reflecting a reduction of 3.5%[23] - The company reported a decrease in research and development expenses to ¥69,465,111.09 from ¥69,736,959.09, a reduction of 0.4%[24] - Employee compensation payments decreased to ¥192,852,768.32 from ¥210,256,629.49, reflecting a reduction of about 8.3%[26] Tax and Financial Expenses - The company reported a 142.02% increase in taxes and surcharges, amounting to ¥5,583,930.25, compared to ¥2,307,199.59 in Q1 2024[10] - The company’s financial expenses turned negative at -¥2,172,772.85, a decrease of 208.27% from ¥2,006,865.93 in the previous year, due to reduced interest expenses and increased exchange gains[10] - The company received ¥436,940.25 in tax refunds, down from ¥3,482,862.23 in the previous period, indicating a decline of approximately 87.5%[26] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[23] - The company has not reported any new strategies or market expansions during this period[18] - The company has not yet audited its first-quarter report for 2025[28]

证券代码：300747 证券简称：锐科激光 公告编号：2025-028 武汉锐科光纤激光技术股份有限公司 第四届董事会第十一次会议决议的公告 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 4 月 25 日 14:00 以现场会议形式召开了第四届董事会第十一次会议， 会议由公司董事长陈正兵先生召集并主持。通知已于 2025 年 4 月 20 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 8 人，委托其他 董事出席 1 名，公司董事周青锋先生因公务原因无法参加本次会议，委托樊京辉 先生代为参会并表决。公司部分监事、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 2025 年第一 季度报告的议案》。 经 ...

上 市 公 司 机械设备 2025 年 04 月 22 日 锐科激光 (300747) ——业绩短期承压，期待高端及特种业务放量 | 报告原因：有业绩公布需要点评 | | --- | | 买入（维持） | | 市场数据： | 2025 年 04 月 21 日 | | --- | --- | | 收盘价（元） | 18.16 | | 一年内最高/最低（元） | 27.19/13.28 | | 市净率 | 3.1 | | 股息率%（分红/股价） | 0.84 | | 流通 A 股市值（百万元） | 9,171 | | 上证指数/深证成指 | 3,291.43/9,905.53 | | 注："股息率"以最近一年已公布分红计算 | | | 基础数据: | 2024 年 12 月 31 日 | | --- | --- | | 每股净资产（元） | 5.79 | | 资产负债率% | 36.69 | | 总股本/流通 A 股（百万） | 565/505 | | 流通 B 股/H 股（百万） | -/- | 一年内股价与大盘对比走势： 04-22 05-22 06-22 07-22 08-22 09-22 10-22 11 ...

会计准则调整影响毛利率，实际毛利率仅略降。由于质保金从销售费用集中调整至营业成本，单Q4 毛 利率意义不大。24 年公司毛利率20.50%，同比-0.85pct，其中连续光纤/脉冲光纤毛利率分别同 比-0.92pct、+1.06pct。在市场竞争激烈环境下，公司降本增效措施仍取得了显著效果，营业成本同步下 降，保障了毛利率相对稳定。 产业布局持续优化，海外市场稳步拓展。分子公司来看，24 年智慧光子、无锡锐科、武汉睿芯的营收 贡献分别为59.8%、27.0%、8.4%，其中武汉睿芯和智慧光子仍然贡献了主要利润来源，利润占比分别 达54%/40%。分地区来看，24 年海外收入1.97 亿元，同比增长近40%，目前海外已形成16 家销售与服 务网点。 新兴应用、特种领域持续拓展。公司24 年推出多款新品，超高功率家族覆盖60kW、80kW、100kW、 120kW 以及200kW（目前全球最高）光纤激光器。与华曙高科、上海船舶工艺研究所、航天增材等达 成战略合作，拓展3D 打印、船舶、航空航天等激光应用市场。特种领域也在持续加快低空激光反无人 机系统等应用的落地。 事件描述 加快机器人、AI 等未来产业布局。新产 ...

丨证券研究报告丨 公司研究丨点评报告丨锐科激光（300747.SZ） [Table_Title] 锐科激光：销量增长、降本推进，积极布局未来 产业 报告要点 [Table_Summary] 公司 2024 年实现营收 31.97 亿元，同比-13.11%；归母净利润 1.34 亿元，同比-38.24%。按此 计算，24Q4 营收 8.48 亿元，同比-22.65%；归母净利润 0.14 元，同比-68.43%。往后看，公 司龙头格局基本稳固，制造业需求有望修复，公司有望继续受益于高功率+激光出海大趋势。看 好公司持续推进降本增效，夯实核心业务优势，并通过战略业务、国际业务持续打开成长空间。 分析师及联系人 [Table_Author] 赵智勇 臧雄 SAC：S0490517110001 SAC：S0490518070005 SFC：BRP550 SFC：BVO790 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 锐科激光（300747.SZ） cjzqdt11111 [Table_Title 锐科激光：销量增长、降本推进，积极布局未来 2] 产业 [Table ...

Investment Rating - The report maintains a "Buy" rating for the company [7] Core Views - The company experienced a significant decline in performance in 2024, with revenue of 3.197 billion RMB (down 13.11% year-on-year) and a net profit of 134.27 million RMB (down 38.24% year-on-year) [1][4] - Despite the short-term pressure on performance, the expansion of laser applications is expected to drive growth in the laser industry, with the company positioned as a leader through continuous high R&D investment [1][3] - The company's gross margin for 2024 was 20.51%, a decrease of 5.49 percentage points year-on-year, primarily due to accounting policy adjustments and ongoing price pressures [2] Summary by Sections Financial Performance - In Q4 2024, the company achieved revenue of 848 million RMB (down 22.65% year-on-year, up 11.34% quarter-on-quarter) and a net profit of 14.27 million RMB (down 68.43% year-on-year, down 40.84% quarter-on-quarter) [1] - The net profit margin for 2024 was 4.41%, a decrease of 1.71 percentage points year-on-year [2] R&D and Product Development - The company has increased its R&D expense ratio to 11.10%, up 1.91 percentage points year-on-year, launching 13 new products to support future growth in niche application areas [2] Market Opportunities - The expansion of high-power laser applications in industries such as shipping and rail transport, along with advancements in high-end applications like renewable energy, is expected to support the company's performance [3] - Strategic collaborations with companies like Huazhu High-Tech and Aerospace Additive have been established to enhance competitive laser source products for high-precision 3D printing and advanced manufacturing [3] Profit Forecast and Valuation - Due to a sluggish macroeconomic recovery, the profit forecast for 2025-2027 has been adjusted, with expected net profits of 234 million RMB, 298 million RMB, and 327 million RMB respectively [4] - The target price for the company is set at 21.32 RMB, based on a 52 times PE ratio for 2025 [4][8]

Core Viewpoint - The performance of Raycus Laser (300747.SZ) has significantly declined in Q4 2024, with a gross margin of only 2.88%, marking a new low for the company, and a substantial drop in revenue and net profit compared to the previous year [1][3]. Financial Performance - In 2024, Raycus Laser reported a revenue of 3.197 billion yuan, a year-on-year decrease of 13.11%, and a net profit of 29.837 million yuan, down 81.99% [1]. - The company's Q4 performance was particularly poor, with a revenue decline of 22.65% and a loss of 40.1876 million yuan, ending a streak of seven consecutive profitable quarters [1]. - The gross margin for Q4 2024 was the lowest recorded, significantly lower than the previous minimum of 11.24% in Q2 2022 [1]. Sales and Product Performance - Despite a 9.77% increase in shipment volume to 174,700 units in 2024, revenue declined due to a drop in average product prices, estimated to have fallen over 20% [3]. - The revenue contributions from the three main product categories—continuous fiber lasers, pulsed fiber lasers, and ultrafast lasers—were 79.03%, 12.56%, and 2.2%, respectively, with corresponding gross margin declines of 6.27, 1.06, and 18.22 percentage points [3]. Accounts Receivable and Credit Losses - The accounts receivable turnover days worsened from 70.03 days in 2023 to 80.08 days in 2024, indicating increased collection challenges [3]. - Credit impairment losses surged to 42.9957 million yuan in 2024, a significant increase from 7.0875 million yuan in the previous year [3]. International Business and R&D Investment - International revenue grew nearly 40% year-on-year to 190 million yuan, although it still only accounted for 6.16% of total revenue [4]. - R&D expenses increased by 4.97% to 355 million yuan in 2024, with the R&D expense ratio rising from 9.19% in 2023 to 11.1% in 2024 [4]. New Product Development - In 2024, Raycus Laser launched several new products across various sectors, including aerospace, medical lasers, photovoltaic industry, automotive manufacturing, and semiconductors [5]. - The company has established significant collaborations in the automotive sector and achieved a 99.9% qualification rate in its new energy business for battery welding applications [5]. Future Outlook - Raycus Laser anticipates a significant increase in order volume in 2025, with expectations of a business explosion by 2026-2027, although short-term performance remains weak [5]. - Market demand in early 2025 is expected to be low, but there has been a notable recovery in order volume since March [5]. Pricing Trends - Price fluctuations in 2024 were primarily influenced by competitors' financing strategies, with a slight downward trend expected in 2025, though not as severe as in 2024 [6].