证券代码：300776 证券简称：帝尔激光 公告编号：2024-069 武汉帝尔激光科技股份有限公司 第四届董事会第一次会议决议公告 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。 一、董事会会议召开情况 武汉帝尔激光科技股份有限公司（以下简称"公司"）于 2024 年 9 月 9 日 以现场表决形式召开了第四届董事会第一次会议，本次会议的会议通知于 2024 年 9 月 9 日公司 2024 年第二次临时股东大会选举产生第四届董事会成员后，现 场通知全体董事，经全体董事一致同意豁免本次会议通知时间要求。 会议经半数以上董事推选由董事李志刚先生召集主持，会议应出席董事 7 名， 实际出席 7 名。公司监事及部分高级管理人员列席了会议。会议的召集、召开符 合《中华人民共和国公司法》（以下简称《公司法》）和《公司章程》的规定， 会议所作决议合法有效。 二、董事会会议审议情况 经与会董事充分讨论，本次会议审议通过议案如下： （一）审议通过《关于选举公司第四届董事会董事长的议案》 选举李志刚先生为公司第四届董事会董事长，任期三年，自本次董事会审议 通过之日起至第四届董 ...

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 年第二次临时股 东大会（以下简称"本次股东大会"）的有关事宜，根据《中华人民共和国公司 法》（以下简称"《公司法》"）《上市公司股东大会规则（2022 年修订）》（以下简 称"《股东大会规则》"）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。 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 年第二次临时股东大会的 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 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 年第二次临时股东大会的 法律意见书 （二）本次股东大会的召开 本次股东大会现场会议于 2024 年 9 月 9 日下午 14：30 时在武汉东湖新技术 ...

证券代码：300776 证券简称：帝尔激光 公告编号：2024-067 武汉帝尔激光科技股份有限公司 关于职工代表监事换届选举的公告 附件：第四届监事会职工代表监事个人简历 王莹瑛女士，汉族，1985 年出生，本科学历，中国国籍，无境外永久居留权。 2006 年 7 月毕业于湖北第二师范学院；自 2011 年 5 月起至今在武汉帝尔激光科 技股份有限公司工作，先后担任公司销售部商务助理、总经理助理、计划部经理， 现任公司战略供应管理部经理、公司职工代表监事。 截至本公告日，王莹瑛女士未直接持有公司股份，与公司控股股东、实际控 制人、持有公司 5%以上股份的股东以及其他董事、监事和高级管理人员不存在 关联关系；王莹瑛女士从未受过中国证监会及其他有关部门的处罚和证监交易所 惩戒，不存在《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公 司规范运作》第 3.2.3 条、第 3.2.4 条所规定的情形，亦不是失信被执行人。其任 职资格符合《公司法》及《公司章程》等相关规定。 公司第四届监事会中职工代表监事的比例未低于公司监事总数的三分之一， 符合相关法律法规及《公司章程》的有关规定。上述职工代表监事符合《 ...

Investment Rating - The report maintains a "Buy" rating for the company [3] Core Views - The company's H1 2024 performance met expectations, with revenue of 906 million yuan, a year-on-year increase of 34.40%, and a net profit of 236 million yuan, up 35.51% year-on-year [2][3] - The growth in revenue is primarily driven by the photovoltaic sector, which contributed 905 million yuan in revenue, reflecting a year-on-year growth of 35.94% [2] - The company has maintained robust profitability, with a gross margin of 48.06% and a net margin of 26.07% in H1 2024 [2] - The demand for laser equipment is expected to rise due to advancements in photovoltaic technology, particularly with the large-scale industrialization of N-type battery technologies [2] - The company is also actively expanding into non-photovoltaic sectors, including high-end consumer electronics and integrated circuits, which may provide new growth opportunities [2] Financial Summary - For H1 2024, the company reported total revenue of 906 million yuan, with a year-on-year growth rate of 34.4% [4] - The projected net profits for 2024 to 2026 are 562 million yuan, 689 million yuan, and 858 million yuan, respectively, with corresponding year-on-year growth rates of 21.9%, 22.7%, and 24.4% [4][3] - The earnings per share are expected to increase from 2.06 yuan in 2024 to 3.14 yuan in 2026 [4] - The company's gross margin is projected to remain stable around 48.4% to 48.9% over the next few years [4] Market Data - As of September 3, 2024, the company's closing price was 41.17 yuan, with a market capitalization of 6.88 billion yuan [5] - The company has a price-to-earnings ratio projected at 20, 16, and 13 for 2024, 2025, and 2026, respectively [4][5]

证券代码：300776 证券简称：帝尔激光 公告编号：2024-066 武汉帝尔激光科技股份有限公司 关于回购股份进展的公告 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。 武汉帝尔激光科技股份有限公司（以下简称"公司"）于 2024 年 2 月 23 日召开第三届董事会第十七次会议，逐项审议通过了《关于回购公司股份方案的 议案》，同意公司使用自有资金以集中竞价交易方式回购公司部分社会公众股份， 回购股份的资金总额不低于人民币 5,000 万元且不超过人民币 10,000 万元（均含 本数），用于实施员工持股计划或股权激励。本次回购股份的回购价格不超过人 民币 74.29 元/股（含本数），回购股份的实施期限自公司董事会审议通过回购方 案之日起 12 个月内。具体内容详见公司分别于 2024 年 2 月 23 日、2024 年 2 月 28 日在巨潮资讯网上（www.cninfo.com.cn）披露的《关于回购公司股份方案的 公告》及《回购股份报告书》。 2024 年 5 月 30 日，公司完成了 2023 年年度权益分派。根据公司《关于回 购公司股份方案的公 ...

Investment Rating - The report assigns a "Buy" rating for the company, with a target price of 53.03 RMB based on a 25X PE for 2024 [2][4]. Core Insights - The company is a pioneer in photovoltaic laser technology, having introduced laser technology into the solar industry and maintaining a leading position in the market for 15 years [2][16]. - The demand for laser equipment in photovoltaic applications is increasing, particularly for BC (Back Contact) battery manufacturing, which requires three laser processes [1][2]. - The company has successfully expanded its product offerings to include various high-efficiency solar cell technologies such as TOPCon, HJT, XBC, and perovskite [2][16]. - Revenue from solar cell laser processing equipment is projected to grow significantly, with expected revenues of 1.72 billion, 2.19 billion, and 2.87 billion RMB from 2024 to 2026, reflecting year-on-year growth rates of 25.9%, 27.1%, and 31.1% respectively [2][4]. - The company is also exploring new markets in consumer electronics and semiconductor fields, which could provide additional growth opportunities [2][16]. Summary by Sections Investment Logic - The company has a broad application of laser technology across mainstream and next-generation high-efficiency battery routes, with increasing demand for its products [1][2]. Company Overview - The company has a stable shareholding structure, with the actual controller holding 43.17% of shares, and has established five wholly-owned subsidiaries for various operational functions [20][21]. Financial Projections - The company is expected to achieve revenues of 2.0 billion, 2.51 billion, and 3.23 billion RMB from 2024 to 2026, with corresponding net profits of 580 million, 720 million, and 910 million RMB [4][25]. - The company has maintained a gross margin above 45% and has a consistent history of cash dividends to investors [22][29]. Market Position - The company holds a dominant position in the photovoltaic laser equipment market, with a market share of over 80% in its core products [29][30]. - The laser equipment market in China is fragmented, with the top three companies accounting for only 24% of the market share, highlighting the company's strong competitive position [29][30]. Product Matrix - The company's product matrix covers three application areas: photovoltaic cell and module manufacturing, display panel manufacturing, and semiconductor wafer manufacturing [18][19].

帝尔激光（ 300776） 公司点评 半年度业绩持续增长，光伏海外占比提升，拓展半导体等新领域 | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------|-------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's performance shows steady growth in line with expectations, with a significant increase in revenue and net profit in the first half of 2024, driven by continuous acceptance of TOPCon orders [2] - The company is increasing its R&D investment and actively expanding into the semiconductor field, particularly in laser equipment for photovoltaic applications [2] - The company has stable inventory and contract liabilities, but operating cash flow is under pressure due to reduced cash receipts from sales [2] Financial Performance Summary - Total revenue for H1 2024 reached 906 million yuan, a year-on-year increase of 34.4%, while net profit attributable to shareholders was 236 million yuan, up 35.5% year-on-year [2] - The gross margin for H1 2024 was 48.1%, an increase of 1.3 percentage points year-on-year, while the net margin was 26.1%, a decrease of 2.4 percentage points year-on-year [2] - The company’s contract liabilities stood at 1.905 billion yuan, a decrease of 3% year-on-year, and inventory was 1.979 billion yuan, an increase of 3% year-on-year [2] R&D and Market Position - The company is focusing on laser equipment for photovoltaic cells, enhancing efficiency and reducing production costs through advanced technologies [2] - The company has also developed laser equipment for consumer electronics and integrated circuits, expanding its market reach [2] Earnings Forecast and Valuation - The forecast for net profit attributable to shareholders for 2024-2026 has been adjusted to 610 million, 770 million, and 910 million yuan respectively, with corresponding dynamic P/E ratios of 19, 15, and 13 times [2]

证券代码：300776 证券简称：帝尔激光 公告编号：2024-065 武汉帝尔激光科技股份有限公司 关于公司与武汉东湖新技术开发区管理委员会 签署合作协议的进展公告 一、交易概述 武汉帝尔激光科技股份有限公司于2024年7月2日召开第三届董事会第十九 次会议，审议通过了《关于公司拟与武汉东湖新技术开发区管理委员会签署合作 协议的议案》，同意公司拟在武汉东湖新技术开发区投资人民币30亿元建设帝尔 激光研发生产基地三期项目，主要包含固定资产投资、研发及其他经营费用等， 其中固定资产投资额为人民币10.25亿元。具体内容详见公司于2024年7月2日在 巨潮资讯网（www.cninfo.com.cn）披露《关于公司拟与武汉东湖新技术开发区管 理委员会签署合作协议的公告》（公告编号：2024-051）。 二、对外投资进展情况 公司于近日收到与武汉东湖新技术开发区管理委员会签署的《武汉东湖新技 术开发区管理委员会与武汉帝尔激光科技股份有限公司关于帝尔激光总部暨研 发生产基地三期项目的合作协议》（以下简称"合作协议"）。该合作协议主要 内容与公司在《关于公司拟与武汉东湖新技术开发区管理委员会签署合作协议的 公告》（公告编 ...

[Table_MainInfo] 公司研究/机械工业/新能源板块 证券研究报告 帝尔激光（300776）公司半年报点评 2024 年 08 月 19 日 [Table_InvestInfo] 投资评级 优于大市 维持 | --- | --- | |-------------------------------------------------------------|-------------| | 股票数据 | | | 08 [ Table_StockInfo 月 19 日收盘价（元） ] | 42.52 | | 52 周股价波动（元） | 36.71-74.98 | | 总股本 / 流通 A 股（百万股） | 273/167 | | 总市值 / 流通市值（百万元） | 11611/7106 | | 相关研究 | | | [Table_ReportInfo] 《光伏激光设备龙头，持续受益于新技术迭 | | | 代》 2024.06.24 | | 市场表现 [Table_QuoteInfo] -27.76% -14.76% -1.76% 11.24% 24.24% 37.24% 帝尔激光 海通综指 | -- ...