BC概念第一股，或许并不是爱旭股份或者隆基绿能，而是BC卖铲人——帝尔激光。 光伏已经跌成狗。如果你仍然不死心，要问一些机构，光伏板块还有哪些投资机会，他们则会正告你："如果你看好BC，那就去买帝尔激光；如果你看好隆基，不如去买帝尔激光。" 光伏主材辅材都血亏，但设备、逆变器企业日子还过得去，至少目前如此，30%以上的毛利率是常态。帝尔激光的毛利率更高，2024年干到了46.87%，今年1季度更是达到47.9%。赶碳号用东 但是，如果我们看一下营收和利润增速，则不会有太大惊喜：2024年帝尔激光营收20.14亿元，同增25.20%；净利5.28亿元，同增14.40%；2025年一季度，公司营收5.61亿元，同增24.55 整线设备企业捷佳伟创这两年"萝卜快了不洗泥"，"捡到篮子里都是菜"，被TOPCon市场迅速催肥，但是眼见已丧失成长性，最近管理层已经在大笔减持卖公司了。帝尔激光，能够续写捷佳伟创 帝尔激光无锡研发总部 帝尔激光是一家有着真正核心技术的企业，其"创造性地将激光技术引入光伏行业，并广泛应用于PERC、TOPCon、HJT、XBC、钙钛矿等高效太阳能电池及组件制程，核心产品全球综合市占率第 这样一 ...

武汉帝尔激光科技股份有限公司 证券代码：300776 证券简称：帝尔激光 公告编号：2025-032 2024 年年度股东大会决议公告 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。 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、会议召开时间 （1）现场会议召开时间：2025年5月16日（星期五）下午14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为： 2025年5月16日9:15—9:25，9:30—11:30和13:00—15:00；通过深圳证券交易所互 联网系统投票的具体时间为：2025年5月16日9:15—15:00的任意时间。 2、现场会议地点：武汉东湖新技术开发区九龙湖街88号武汉帝尔激光科技 股份有限公司一楼会议室。 3、会议召开方式：本次股东大会采取现场投票与网络投票相结合的方式。 4、会议召集人：公司董事会。 5、会议主持人：李志刚先生。 6、本次会议的召集、召开与表决程序符合《中华人民共和国公司法》（以 下 ...

上海市锦天城（武汉）律师事务所 关于武汉帝尔激光科技股份有限公司 2024 年年度股东大会的 法律意见书 地址：武汉市江汉区云霞路 187 号民生金融中心 8 层 电话：027-83828888 传真：027-83826988 邮编：430000 上海市锦天城（武汉）律师事务所 法律意见书 法律意见书 致：武汉帝尔激光科技股份有限公司 上海市锦天城（武汉）律师事务所（以下简称"本所"）接受武汉帝尔激光 科技股份有限公司（以下简称"公司"）委托，就公司召开 2024 年年度股东大会 （以下简称"本次股东会"）的有关事宜，根据《中华人民共和国公司法》（以下 简称"《公司法》"）《上市公司股东会规则》（以下简称"《股东会规则》"）等法律、 法规、规章和其他规范性文件以及《武汉帝尔激光科技股份有限公司章程》（以 下简称"《公司章程》"）的有关规定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循了勤勉尽责和诚实信用原则，对本次股东会所涉及的相关事项 进行了必要的核查和验证，核查了本所认为出具 ...

证券代码：300776 证券简称：帝尔激光 公告编号：2025-031 武汉帝尔激光科技股份有限公司 是否为第一大股东或实际控制人 是□ 否☑ 关于控股股东及其一致行动人权益变动触及 1%整数倍暨减持计划 实施完毕的公告 公司特定股东武汉速能企业管理合伙企业（有限合伙）保证向本公司提供 的信息内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 武汉帝尔激光科技股份有限公司（以下简称"公司"）于 2025 年 2 月 20 日 披露了《关于股东及部分董事、高级管理人员减持股份预披露的公告》（公告编 号：2025-010），公司特定股东武汉速能企业管理合伙企业（有限合伙）（以下 简称"武汉速能"，武汉速能系公司控股股东、实际控制人李志刚先生之一致行 动人）拟自减持计划公告之日起 15 个交易日后 3 个月内通过集中竞价或大宗交 易减持公司股份不超过 1,522,466 股。 公司于近日收到武汉速能出具的《股份减持计划实施完毕的告知函》，获悉 武汉速能于 2025 年 5 月 13 日通过大宗交易减持公司股份 1,520,000 股，占公 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company's annual and quarterly reports show sustained revenue and performance growth, primarily driven by the advancement of existing orders, highlighting operational stability [3][4]. - The industry is experiencing a slowdown in expansion trends, but the company is actively positioning itself in new technologies such as BC and LIF, maintaining a strong competitive edge in its core products [3][4]. - Despite facing pressure on profitability in 2024 due to factors like product acceptance structure and impairment provisions, the company continues to advance the development of new laser technology products [3][4]. - The company has secured significant orders, including a 1.229 billion order from a leading photovoltaic enterprise for BC laser etching equipment, reinforcing its leading position in the photovoltaic laser sector [3][4]. - The company is expected to benefit from unaccepted orders from major clients, which may support operations in 2025 [3][4]. Summary by Sections Financial Performance - In 2024, the company achieved revenue of 2.014 billion, a year-on-year increase of 25.20%, and a net profit attributable to shareholders of 528 million, up 14.40% year-on-year [3][4]. - For Q1 2025, the company reported revenue of 561 million, a 24.55% increase year-on-year, and a net profit of 163 million, reflecting a 20.76% year-on-year growth [3][4]. Market Position and Technology Development - The company is actively developing new laser technologies across various processes, including TOPCon, IBC, HJT, and perovskite, ensuring comprehensive coverage of laser technology [3][4]. - The company has made significant advancements in laser selective thinning TCP equipment, enhancing the stability of TOPCon battery mass production [3][4]. - The company is also working on new laser welding processes for components, aiming to simplify production and improve quality [3][4]. Future Outlook - The company is projected to achieve net profits of 706 million and 820 million in 2025 and 2026, respectively, with corresponding price-to-earnings ratios of 23x and 19x [3][4].

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company's annual and quarterly reports show sustained revenue and performance growth, primarily driven by the advancement of existing orders, highlighting operational stability [2][6]. - The industry is experiencing a slowdown in expansion trends, but the company is actively positioning itself in new technologies such as BC and LIF laser gain technologies, maintaining a strong competitive edge in core products [2][12]. - Despite facing pressure on profitability in 2024 due to factors like product acceptance structure and impairment provisions, the company continues to advance the development of new laser technology products [2][12]. - The company has secured significant orders, including a 1.229 billion order from a leading photovoltaic enterprise for BC laser etching equipment, reinforcing its leading position in the photovoltaic laser sector [12]. - The company is expected to benefit from unaccepted orders from major clients, which may support operations in 2025 [2][12]. Summary by Sections Financial Performance - In 2024, the company achieved revenue of 2.014 billion, a year-on-year increase of 25.20%, and a net profit attributable to shareholders of 528 million, up 14.40% year-on-year [6]. - For Q1 2025, revenue reached 561 million, reflecting a 24.55% year-on-year growth, with a net profit of 163 million, up 20.76% year-on-year [6]. Operational Insights - The company is actively developing new laser technologies across various processes, including TOPCon, IBC, HJT, and perovskite, ensuring comprehensive coverage of laser technology [12]. - The TGV laser micro-hole equipment has achieved full coverage of wafer-level and panel-level TGV packaging laser technology, indicating a strong technological advancement [12]. Future Outlook - The company is projected to achieve net profits of 706 million and 820 million in 2025 and 2026, respectively, with corresponding price-to-earnings ratios of 23x and 19x [12].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has demonstrated steady revenue growth, with a 25.20% year-on-year increase in revenue for 2024, reaching 2.014 billion yuan, and a 14.40% increase in net profit, amounting to 528 million yuan [2][4] - The gross margin remains stable at 46.93%, although it has decreased by 1.45 percentage points year-on-year, while the net margin has decreased by 2.47 percentage points to 26.19% due to increased asset impairment losses [2] - The company is a leader in the photovoltaic laser equipment sector, with significant breakthroughs in packaging equipment and ongoing research in semiconductor and other new fields [4][5] Financial Performance Summary - For 2024, the company achieved a revenue of 2.014 billion yuan, with a gross margin of 46.93% and a net profit margin of 26.19% [2][8] - The fourth quarter of 2024 saw a revenue of 574 million yuan, a 25.59% increase year-on-year, and a net profit of 144 million yuan, an 18.46% increase year-on-year [2] - In the first quarter of 2025, the company reported a revenue of 561 million yuan, a 24.55% increase year-on-year, and a net profit of 163 million yuan, a 20.76% increase year-on-year [2] Product and Market Position - The company has a competitive advantage in various photovoltaic product lines, with 99.96% of its revenue coming from the photovoltaic industry in 2024 [4] - The company is actively developing laser processing equipment for consumer electronics, new displays, and integrated circuits, indicating a diversification strategy [4] - The company has secured significant orders, including a 1.229 billion yuan order from a leading photovoltaic enterprise for its back-contact battery laser micro-etching equipment [5][6] Earnings Forecast - The company’s projected revenues for 2025, 2026, and 2027 are 2.415 billion yuan, 2.840 billion yuan, and 3.546 billion yuan, respectively, with corresponding net profits of 635 million yuan, 838 million yuan, and 1.110 billion yuan [6][8] - The estimated earnings per share (EPS) for 2025, 2026, and 2027 are 2.32 yuan, 3.06 yuan, and 4.06 yuan, respectively [6][8] - The price-to-earnings (P/E) ratios for the same years are projected to be 25, 19, and 14, reflecting the company's strong market position and innovation capabilities [6][8]

证券代码：300776 证券简称：帝尔激光 公告编号：2025-030 武汉帝尔激光科技股份有限公司 关于董事、高级管理人员减持计划实施完毕的公告 公司董事兼副总经理朱凡先生、高级管理人员刘志波先生保证向本公司提 供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 武汉帝尔激光科技股份有限公司（以下简称"公司""本公司"）于2025年 2月20日披露了《关于股东及部分董事、高级管理人员减持股份预披露的公告》 （公告编号：2025-010），公司董事兼副总经理朱凡先生拟自减持计划公告之日 起15个交易日后3个月内通过集中竞价减持本公司股份不超过30,720股，占公司 当时剔除回购专用账户后的总股本的0.0113%；公司高级管理人员刘志波先生拟 自减持计划公告之日起15个交易日后3个月内通过集中竞价减持本公司股份不超 过19,200股，占公司当时剔除回购专用账户后的总股本的0.0071%。 公司于近日收到朱凡先生、刘志波先生分别出具的《股份减持计划实施完毕 的告知函》，截至本公告披露日，上述减持计划已实施完毕。现将朱凡先生、刘 ...

Group 1: Business Performance - The company achieved a revenue of 2.014 billion RMB in 2024, representing a year-on-year growth of 25.20% [4] - The net profit for 2024 was 528 million RMB, showing a year-on-year increase of 14.40% [4] - The gross profit margin for the photovoltaic industry was 46.93%, while the net profit margin was 26.19%, a decrease of 2.47 percentage points compared to 2023 [3] Group 2: Market and Export Insights - The company's exports to the United States are relatively small, with a limited impact from recent tariff policies [1] - The company has diversified its supply chain, with most optical components sourced from non-U.S. regions [1] - The company has secured new orders for TGV equipment, including overseas clients, covering wafer-level and panel-level TGV packaging laser technology [2] Group 3: Financial Management and Investor Relations - The company has a total accounts receivable of 890 million RMB and is actively managing credit risks to ensure sales recovery [3] - Since its listing in 2019, the company has distributed a total of 401 million RMB in cash dividends, with a planned distribution of 106 million RMB for 2024 [5] - The company has established a long-term mechanism for market value management, focusing on operational efficiency and investor communication [5] Group 4: Industry Outlook - The global market share for back-contact (BC) battery technology is expected to exceed 60% by 2030, indicating continued growth in production capacity [7]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected investment return exceeding 15% over the next 6-12 months [3][6][16]. Core Insights - The company achieved a revenue of 2.014 billion yuan in 2024, representing a year-on-year increase of 25.2%, and a net profit of 528 million yuan, up 14.4% year-on-year. For Q1 2025, revenue reached 561 million yuan, a 24.55% increase year-on-year, with a net profit of 163 million yuan, up 20.76% year-on-year and 13.16% quarter-on-quarter [1][2]. - The company experienced a 62.09% increase in photovoltaic equipment sales volume, totaling 1,045.5 units, which significantly contributed to a 45.86% rise in revenue from laser processing equipment to 1.994 billion yuan. The gross margin improved by 3.56 percentage points to 46.87% [2]. - The company has increased its R&D investment, with expenses rising by 12.73% to 283 million yuan in 2024, accounting for 14.03% of revenue. Several technological breakthroughs were achieved, including advancements in TOPCon and BC technologies, as well as new laser welding processes for components [3]. Summary by Sections Financial Performance - In 2024, the company reported a revenue of 2,014 million yuan and a net profit of 528 million yuan. The revenue growth rate was 25.20%, while the net profit growth rate was 14.40%. For 2025, the estimated revenue is 2,319 million yuan, with a projected net profit of 615 million yuan, reflecting growth rates of 15.10% and 16.48%, respectively [5][11]. R&D and Technological Advancements - The company has maintained high R&D spending, with a 12.73% increase in 2024, totaling 283 million yuan. This investment has led to breakthroughs in various technologies, including laser-induced sintering (LIF) for TOPCon and advanced laser etching equipment for BC, which have secured orders from leading companies [3][11]. Market Position and Future Outlook - The company is well-positioned in the photovoltaic sector, with significant technological reserves in TOPCon, HJT, IBC, and perovskite technologies. The non-photovoltaic sector, including high-end consumer electronics and integrated circuits, is expected to provide new revenue growth opportunities as technological advancements continue [3][5].