频准激光拟科创板上市：神秘大客户从A排到F，毛利率近70%

Core Viewpoint - Shanghai Precision Laser Technology Co., Ltd. has received acceptance for its IPO on the Sci-Tech Innovation Board, aiming to raise 1.41 billion yuan for various projects and working capital [3]. Company Overview - Founded in 2017, the company has a registered capital of 30 million yuan and focuses on the R&D and production of high-end fiber lasers targeting markets such as quantum information, LiDAR, advanced industry, and medical aesthetics [3]. - The company is controlled by its chairman and general manager, Zhang Lei, who holds 54.71% of the shares directly and controls an additional 7.33% through Shanghai Guangtuan, totaling 62.04% [3]. Financial Performance - The company reported total assets of 587.64 million yuan and equity attributable to shareholders of 388.77 million yuan as of June 2025 [4]. - Revenue has shown rapid growth, with figures of 80.43 million yuan in 2022, 147.82 million yuan in 2023, and projected 292 million yuan in 2024, reflecting a compound annual growth rate of 90.49% from 2022 to 2024 [4]. - Net profit attributable to shareholders was 30.89 million yuan in 2022, increasing to 66.15 million yuan in 2025 [5]. Profitability Metrics - The gross profit margins for the years 2022 to 2025 were 65.43%, 68.53%, 67.78%, and 69.96% respectively, indicating strong profitability [5]. - Basic earnings per share were reported at 1.19 yuan in 2022, increasing to 2.36 yuan in 2025 [4]. R&D and Investment - The company allocated 13.66% of its revenue to R&D in 2025, maintaining a focus on innovation and product development [4]. Customer Base - Major clients include the Chinese Academy of Sciences, Fudan University, and various other domestic and international research institutions, highlighting the company's strong position in the quantum technology sector [12]. - The top five customers accounted for 37.46% of total revenue in the first half of 2025, indicating a diversified yet concentrated customer base [6].