联赢激光回复称，固态电池是行业未来发展方向，公司将持续加强研发投入，积极响应市场需求，推出 更具竞争力的产品，增强市场竞争力。目前公司已经为两家行业头部客户提供全固态中试线。 格隆汇1月29日｜有投资者在互动平台向联赢激光提问：固态电池产线激光焊接设备ASP较传统方案提 升2-3倍，且联赢激光已交付头部客户首条装配线。2026年固态电池商业化落地加速背景下，公司预计 该业务市占率能否突破50%？是否已与国内固态电池厂商（如清陶能源、辉能科技）达成合作意向？ ...

格隆汇1月29日｜有投资者在互动平台向联赢激光提问：请问公司的极片清洗机目前订单如何，主要客 户有哪些，这一设备是不是固态电池厂商必备？有哪些主要功能？联赢激光回复称，公司极片清洗机主 要是用激光清洗金属极片上的附着物，具体产品情况出于客户保密要求，不便透露。 ...

（文章来源：证券日报） 证券日报网讯 1月28日，大族激光发布公告称，公司控股股东大族控股于2026年1月28日解除质押741万 股，占其持股4.58%，占公司总股本0.72%；同日再质押90万股，占其持股0.56%，占公司总股本 0.09%，质权人均为恒丰银行股份有限公司深圳分行。 ...

Core Viewpoint - The company faced overall pressure on its performance in 2025, but it turned profitable in Q4 2025, indicating a potential turning point. With sufficient orders on hand and ongoing expansion in non-lithium battery sectors, future performance is expected to improve [1]. Group 1: Investment Highlights - The company's performance in 2025 was impacted by cyclical fluctuations in downstream industries, but it achieved profitability in Q4 2025, marking a turning point. Given the company's leading position in domestic lithium battery laser equipment and a robust order backlog, along with active expansion into non-lithium sectors, significant performance elasticity is anticipated in the future. Revenue projections for 2025-2027 are estimated at 4.372 billion, 6.012 billion, and 7.482 billion yuan respectively, with a target price set at 88.22 yuan based on a cautious 5x PS valuation for 2025 [2][3]. - The company released a performance forecast for 2025, estimating a net profit attributable to shareholders of between -910 million and -850 million yuan, with a non-recurring net profit forecast of -980 million to -920 million yuan. Quarterly losses narrowed in Q3 2025, and Q4 is expected to turn profitable, with an estimated net profit of 3 million to 63 million yuan [2]. Group 2: Factors Affecting Performance - The primary reasons for the losses in 2025 include overcapacity in the lithium battery and photovoltaic industries leading to sustained price pressure, increased difficulty in cost control, and a decline in the profitability of core business operations. The company also made provisions for asset impairment losses based on a cautious approach, which directly impacted current profits. Additionally, rising expenses for overseas market expansion and strategic R&D have temporarily eroded profit margins [3]. - As the lithium battery market continues to recover, the company's order scale has rebounded significantly, with new orders of approximately 4.421 billion yuan (including tax) in the first half of 2025, representing a year-on-year increase of 117.5%. As of June 30, 2025, the backlog of orders stood at approximately 10.085 billion yuan (including tax), up 46% year-on-year [3]. Group 3: Growth Opportunities - The company is actively diversifying across multiple sectors: 1. In the photovoltaic sector, it is collaborating with leading solar cell manufacturers to develop perovskite tandem batteries, which are expected to enhance photoelectric efficiency and weight-to-power ratios, with potential applications in low-orbit satellites and space computing power generation [4]. 2. In the solid-state battery sector, the company is the first in the industry to pursue dual technology routes of "oxide electrolyte + lithium metal anode" and "sulfide electrolyte + silicon-carbon anode," and it has secured commercial mass production orders for solid-state battery equipment [4]. 3. In other sectors, the company has received orders for laser drilling equipment in HDI and PCB fields, which are expected to benefit from the growth of the AI computing industry [4].

有投资者在互动平台向 联赢激光提问：请问公司在 氢能源方面有哪些布局？业务营收占比是多少？联 赢激光回复称，公司激光焊接产品和 自动化解决方案可以应用于氢能源领域，目前该领域业务营收占 比较低。 ...

Group 1 - The company has provided solid-state battery equipment for two leading industry clients' pilot lines [1] - The company has more partnerships with manufacturers for semi-solid batteries [1] - The company's laser welding equipment is primarily used in industries such as power batteries, consumer electronics, automotive manufacturing, and optical communications, with no involvement in the aerospace sector [1]

Group 1 - The core point of the news is that HaiMuxing's stock price has dropped by 5.01%, currently trading at 60.80 CNY per share, with a total market capitalization of 15.064 billion CNY [1] - HaiMuxing Laser Technology Group Co., Ltd. is based in Longhua District, Shenzhen, Guangdong, and was established on April 3, 2008, with its IPO on September 9, 2020 [1] - The company's main business involves the research, design, production, and sales of laser and automation equipment across various sectors, including consumer electronics, power batteries, and sheet metal processing [1] Group 2 - The revenue composition of HaiMuxing includes 60.28% from power battery laser and automation equipment, 18.04% from 3C consumer electronics laser and automation equipment, 10.52% from sheet metal laser cutting equipment, 7.98% from the photovoltaic industry, and 3.17% from other sectors [1] - From the perspective of fund holdings, Hui'an Fund has a significant position in HaiMuxing, with its Hui'an Quantitative Selected A fund holding 105,500 shares, representing 7.58% of the fund's net value, making it the seventh-largest holding [2] - The Hui'an Quantitative Selected A fund has experienced a floating loss of approximately 338,500 CNY today [2]

Core Viewpoint - The company, Lianying Laser, clarified that its products are primarily used in industries such as power batteries, consumer electronics, automotive manufacturing, and optical communications, and do not involve the commercial aerospace sector [2] Company Summary - Lianying Laser's product applications include power batteries, consumer electronics, automotive manufacturing, and optical communications [2] - The company explicitly stated that it does not engage in the commercial aerospace field [2]

Core Viewpoint - The company is currently in the research and development phase of solid-state batteries and is actively collaborating with leading battery companies to develop equipment for solid-state batteries [1] Group 1 - The company has provided equipment for pilot lines to two leading industry clients [1] - The company is actively cooperating with top battery companies in the research and development of solid-state battery equipment [1]

Core Viewpoint - The company, Lianying Laser (688518.SH), has developed a ring-shaped spot fiber laser that meets the processing needs of various non-ferrous metals such as copper, brass, and aluminum, and is suitable for precision high-speed welding of high-reflective materials and applications in the 3D printing field [1]. Group 1 - The ring-shaped spot fiber laser can process multiple non-ferrous metals [1] - The laser is applicable for high-speed welding of high-reflective materials [1] - The technology is also suitable for the 3D printing sector [1]