Core Viewpoint - The company, HaiMuxing Laser Technology Group Co., Ltd., has experienced a significant decline in operating performance, with revenues and net profits turning negative in 2024 and the first half of 2025, raising concerns about its financial health and operational strategies [2]. Financial Performance - In 2024, the company achieved revenue of 4.525 billion yuan, which decreased by 5.82% year-on-year, while in the first half of 2025, revenue was 1.664 billion yuan, down 30.50% year-on-year [2] - The net profit attributable to shareholders turned negative, recording -163 million yuan in 2024 and -708 million yuan in the first half of 2025, representing a year-on-year decrease of 4.85 billion yuan and 860 million yuan respectively [2] - The overall gross profit margin significantly declined in Q4 2024 due to industry cyclical supply-demand imbalances and increased competition, leading to lower order quality and reduced customer acceptance [2] Subsidiary Developments - The company established a wholly-owned subsidiary, Xingneng Maoye, in August 2023, which reported revenues of 0 yuan in 2023 and 2024, and 10.1477 million yuan in the first half of 2025 [3] - The net assets of Xingneng Maoye were -12.6957 million yuan at the end of the first half of 2025, prompting the parent company to consider providing financial support of up to 1 billion yuan [3] - The subsidiary's competitive advantages lie in core talent and self-researched technology, with expectations of profitability starting in 2027 or 2028 [3] Inventory and Receivables - The company's inventory balance at the end of the reporting period was 5.278 billion yuan, an increase of 23.38% from the beginning of the period, with inventory impairment losses amounting to 401 million yuan, a significant increase compared to 2024 [4] - Accounts receivable at the end of the reporting period totaled 2.172 billion yuan, with significant growth in long-aged receivables, indicating potential cash flow issues [5] Financial Position - The company reported a bank deposit balance of 1.341 billion yuan and short-term borrowings of 1.907 billion yuan, indicating a high level of liabilities relative to its cash reserves [6] - The company has maintained a stable borrowing situation, necessary for supporting daily operations and capital projects in a capital-intensive industry [7] Prepayments - The balance of long-term prepayments at the end of the reporting period was 202 million yuan, with a slight increase from the beginning of the period, indicating ongoing commitments in line with industry practices [8]

中国锂电产业 20 年，从无到有、从追赶到引领。高工锂电成立 15 周年之际，特别策划系 列对话，遍访锂电创变者，回望产业来时路，探寻未来新动能。 在锂电池制造迈向高效化、精密化的进程中，有一家以激光技术为核心的装备企业，用十年 时间将激光制片速度 从 量产 28 米 / 分钟提升至实验室的 200 米 / 分钟 ，实现了近十倍 的效率飞跃 ——海目星激光。 "激光设备是实现国产超越中最典型的代表。"对话中，海目星激光董事长兼总经理赵盛宇如 此认为。 面对下一代固态电池的竞争，赵盛宇指出， "微纳化、半导体化是解决固 - 固界面和稳定 性的有效路径" ，而跨界技术应用正是推动行业进步的有效手段。 与此同时，海目星已在 AI 与智能制造上全面布局——"今年开工第一天，我们开的第一个会 就是关于 AI 在公司大规模落地。 "赵盛宇透露。 从工艺突破、效率革命到智造升级，海目星的出海逻辑始终建立在系统化能力之上。 "再难 再苦，也不能害客户。"赵盛宇强调，能力未建设好前，绝不轻易承接大规模订单。 正是这种对客户负责的战略定力，推动海目星在全球市场中从"打底色"走向"复色结构"，逐 步构建起涵盖八家子公司的海外服务体 ...

Core Viewpoint - Wuhan Yifei Laser Co., Ltd. has been placed under other risk warnings due to a negative audit opinion on its internal control for the 2024 financial report, effective from May 6, 2025 [2][3]. Group 1: Company Risk Warning - The company received a negative audit report from Lixin Certified Public Accountants regarding its internal control for the 2024 financial year, leading to the implementation of other risk warnings as per the Shanghai Stock Exchange rules [2][3]. - The company is required to disclose at least one progress announcement each month during the risk warning period, detailing the resolution of the issues identified [2][7]. Group 2: Measures and Progress - The company is taking significant measures to address the issues raised in the audit report, including strict management of fundraising usage, ensuring compliance with project planning and regulatory requirements [4]. - The Audit Committee has assumed the supervisory functions of the Supervisory Board, focusing on the accuracy of financial reports and the effectiveness of internal controls [4]. - Training for key personnel on internal control regulations and compliance is being conducted to enhance operational capabilities and ensure adherence to regulatory requirements [5]. - The company is committed to maintaining communication with regulatory authorities to stay updated on policies and to report on its corrective actions [5].

编辑 王进雨 新京报贝壳财经讯 9月25日，德龙激光在互动平台表示，公司固态电池设备订单呈逐步增长趋势，部分 客户追加订单，也有部分新客户下单，但目前该领域订单金额较小，请注意投资风险。新设备如干法电 极激光预热和超快激光极片制片设备仍处于工艺验证阶段，尚未形成订单。 ...

每经AI快讯，有投资者在投资者互动平台提问：请问8、9月份固态电池设备销售情况如何？相比较上 半年，是否有头部公司追加订单？部分固态电池设备是否通过下游厂家测试？ 德龙激光（688170.SH）9月25日在投资者互动平台表示，公司固态电池设备订单呈逐步增长趋势，部 分客户追加订单，也有部分新客户下单，但目前该领域订单金额较小，请注意投资风险。新设备如干法 电极激光预热和超快激光极片制片设备仍处于工艺验证阶段，尚未形成订单。 （记者 王晓波） ...

内容概要：激光打标设备作为激光产业的重要应用领域之一，已有数十年的发展历史。目前，我国大多 数激光打标设备企业已掌握了激光打标技术，并在全球市场上占据了一席之地。同时，随着消费电子、 汽车等行业的发展，中国激光达标设备需求量不断上涨。在此背景下，中国激光打标设备出货量呈现上 升趋势，2019年中国激光打标设备出货量达到29万台，到了2024年中国激光打标设备行业出货量增长至 70万台，年复合增长率为19.3%。未来，随着新能源、新材料等新兴领域的发展，激光打标设备的应用 领域将进一步拓展，行业出货量有望持续上涨。 相关上市企业：大族激光（002008）、华工科技（000988）、锐科激光（300747）、联赢激光 （688518）、海目星（688559）、杰普特（688025）、德龙激光（688170）、福晶科技（002222）、英 诺激光（301021）等。 相关企业：深圳市大鹏激光科技有限公司、深圳市铭镭激光设备有限公司、广东通发激光科技股份有限 公司、深圳市玛吉克激光科技有限公司、沈阳飞捷激光科技有限公司、深圳市博特精密设备科技有限公 司、深圳市美可创激光设备有限公司等。 关键词：激光打标设备行业产业链 ...

Group 1 - The company Tian Gong International (00826) announced an investment of RMB 3 million in Shanghai Gaize Laser Technology Co., Ltd., acquiring 294,400 new shares, representing approximately 5.56% of the expanded registered capital of Shanghai Gaize [1] - Shanghai Gaize specializes in intelligent laser solutions, core component design, research and manufacturing, and laser cladding with ultra-wear-resistant materials, along with 3D printing services [1] - The laser cladding technology can be applied in mold repair, with 70% of molds being repairable, and the current market lacks specialized mold repair centers, indicating a significant opportunity for high-precision and intelligent repair services [1] Group 2 - The group expects to leverage its collaboration with Shanghai Gaize and its customer resources to penetrate end-user markets and deepen service offerings through partnerships in the mold service sector [2] - The subscription price for the shares was determined based on various factors, including the industry, growth potential, net asset value per share, and average industry price-to-earnings ratio [2] - The company believes that the terms of the share subscription agreement are fair and reasonable, aligning with the interests of its shareholders [2]

Group 1 - The core viewpoint of the news highlights the financial performance and trading activity of Delong Laser, indicating a decline in net profit and a low financing balance compared to historical levels [1][2] Group 2 - As of August 28, Delong Laser's stock price increased by 0.24%, with a trading volume of 181 million yuan [1] - On the same day, the financing buy-in amount was 10.09 million yuan, while the financing repayment was 30.28 million yuan, resulting in a net financing buy of -20.19 million yuan [1] - The total financing and securities balance for Delong Laser reached 99.01 million yuan, accounting for 2.60% of the circulating market value, which is below the 50th percentile level over the past year [1] - In terms of securities lending, there were no shares repaid or sold on August 28, with a securities lending balance of 0.00 yuan, indicating a high level compared to the 70th percentile over the past year [1] Group 3 - As of June 30, the number of shareholders for Delong Laser was 6,337, an increase of 11.55% from the previous period [2] - The average circulating shares per person increased by 16.39% to 16,310 shares [2] - For the first half of 2025, Delong Laser reported revenue of 285 million yuan, a year-on-year increase of 2.49%, but the net profit attributable to the parent company was -15.48 million yuan, a decrease of 56.92% year-on-year [2] - Since its A-share listing, Delong Laser has distributed a total of 124 million yuan in dividends, with 72.25 million yuan distributed over the past three years [2]

Core Viewpoint - The report details the fundraising activities and the actual usage of funds by Haimuxing Laser Technology Group Co., Ltd. for the first half of 2025, ensuring compliance with regulatory requirements and transparency in fund management. Fundraising Overview - In 2020, the company raised a total of RMB 728 million by issuing 50 million shares at RMB 14.56 per share, with a net amount of RMB 649.09 million after deducting fees [1]. - In 2024, the company raised RMB 1,019.6 million by issuing 40 million shares at RMB 25.49 per share, resulting in a net amount of RMB 1,010.52 million after fees [2]. Fund Management - The company has established a fundraising management system in accordance with relevant laws and regulations to enhance fund usage efficiency and protect investor rights [4]. - The company signed tripartite and quadripartite agreements with various banks to ensure proper management and supervision of the raised funds [5]. Fund Usage - As of June 30, 2025, the company had a total of RMB 588.59 million in unspent funds, with actual project investments amounting to RMB 656.54 million [2][6]. - The company approved the use of RMB 30 million of idle funds for temporary working capital, which has since been fully repaid [7][11]. - The company also engaged in cash management with idle funds, achieving good investment returns [12]. Project Status - The company has completed the "Haimuxing Laser Intelligent Manufacturing Center Project" and has decided to conclude it, while extending the timeline for the "Western Laser Intelligent Equipment Manufacturing Base Project (Phase I)" to May 2026 [8][14]. - The company has not experienced any significant changes in the feasibility of its fundraising projects during the reporting period [8]. Financial Summary - The total amount of funds raised in 2020 was RMB 649.09 million, with a cumulative investment of RMB 656.54 million by the end of the reporting period [2][10]. - The company reported a difference of RMB 367.31 million in the usage of funds, primarily due to self-funded expenses related to the issuance [3].

Core Viewpoint - The company plans to utilize part of its idle raised funds for cash management to enhance fund efficiency and returns for the company and its shareholders [1][3][6]. Summary by Sections 1. Basic Situation of Raised Funds - The company raised a total of RMB 1,019.6 million by issuing 40 million shares, with a net amount of RMB 1,010.5 million after deducting issuance costs [1][2]. 2. Investment Projects of Raised Funds - The company has allocated RMB 1,010.5 million for investment projects, including RMB 1,010.5 million for the Western Laser Intelligent Equipment Manufacturing Base Project (Phase I) [2]. 3. Cash Management of Idle Funds - The company intends to use up to RMB 150 million of idle raised funds for cash management, allowing for rolling use within this limit [3][4]. - The investment period for this cash management is valid for one year from the board's approval date [4]. 4. Types of Investments - The company plans to invest in low-risk financial products with high safety and liquidity, such as fixed deposits and structured deposits, ensuring these funds are not used for securities investment [4][5]. 5. Implementation and Disclosure - The company’s chairman is authorized to make investment decisions and sign relevant documents, with the finance department responsible for implementation [4][5]. - The company will comply with disclosure requirements as per regulations to ensure transparency [4][5]. 6. Impact on Daily Operations - The cash management plan will not affect the normal operation of the company or the execution of investment projects, while also providing potential returns for shareholders [5][6]. 7. Opinions from Supervisory Board and Sponsor - The supervisory board supports the cash management plan, stating it will enhance fund efficiency without harming the interests of the company or minority shareholders [6][7]. - The sponsor, CITIC Securities, confirms that the plan complies with relevant regulations and will not alter the intended use of raised funds [7].