United Winners Laser(SH:688518) Zheng Quan Zhi Xing·2025-08-22 16:36Core Viewpoint - Shenzhen United Winners Laser Co., Ltd. reported a revenue of approximately 1.53 billion RMB for the first half of 2025, reflecting a year-on-year increase of 5.30%, while the total profit decreased by 14.24% due to lower gross margins and reduced other income [2][3][10]. Company Overview and Financial Indicators - The company is a leading manufacturer in the laser welding equipment industry, focusing on high-end equipment manufacturing, particularly in laser processing technology [4][6]. - The company achieved a net profit attributable to shareholders of approximately 57.92 million RMB, an increase of 13.16% compared to the previous year [3][10]. - The total assets of the company reached approximately 7.66 billion RMB, marking an 8.73% increase from the previous year [2][3]. Industry and Main Business Situation - The laser welding equipment industry is experiencing growth due to increased applications in sectors such as power and energy storage batteries, automotive, and consumer electronics [4][5]. - The market for laser welding equipment in China is projected to grow, with sales expected to reach approximately 12.5 billion RMB in 2025, up from 12.25 billion RMB in 2024 [4][5]. - The demand for laser welding technology is driven by the need for higher production efficiency and product quality in traditional industries undergoing transformation [5][6]. Competitive Position and Market Share - The company holds a significant market share in the laser welding equipment sector, with approximately 34% in 2022 and 26% in 2023 [7]. - The company has established strong relationships with leading clients in the lithium battery and consumer electronics sectors, enhancing its competitive edge [7][11]. Research and Development - The company invested approximately 119.28 million RMB in R&D, accounting for 7.78% of its revenue, focusing on developing new products and technologies to meet market demands [11][12]. - The company has developed several core technologies, including real-time laser energy control and multi-wavelength coaxial composite welding technology, which are recognized as industry-leading innovations [14][15][17]. Future Outlook - The company anticipates continued growth in the laser welding equipment market, particularly in the lithium battery sector, as major clients expand production capacity [11][12]. - The introduction of new technologies and products, such as those for solid-state battery production, is expected to drive future revenue growth [11][12].