10月9日，帝尔激光涨5.14%，截至发稿，报76.66元/股，成交2.70亿元，换手率2.15%，总市值209.71亿 元。 从帝尔激光十大流通股东角度 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 数据显示，易方达基金旗下1只基金位居帝尔激光十大流通股东。易方达创业板ETF（159915）二季度 减持4.75万股，持有股数337.2万股，占流通股的比例为2.01%。根据测算，今日浮盈赚取约1264.48万 元。 责任编辑：小浪快报 易方达创业板ETF（159915）成立日期2011年9月20日，最新规模855.37亿。今年以来收益52.99%，同 类排名673/4221；近一年收益50.46%，同类排名870/3848；成立以来收益268.2%。 易方达创业板ETF（159915）基金经理为成曦、刘树荣。 截至发稿，成曦累计任职时间9年158天，现任基金资产总规模1953.12亿元，任职期间最佳基金回报 131.04%， 任职期间最差基金回报-67.89%。 资料显 ...

中信保诚新兴产业混合A（000209）基金经理为孙浩中。 截至发稿，孙浩中累计任职时间5年291天，现任基金资产总规模27.31亿元，任职期间最佳基金回报 86.52%， 任职期间最差基金回报-52.72%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 从基金十大重仓股角度 数据显示，中信保诚基金旗下1只基金重仓帝尔激光。中信保诚新兴产业混合A（000209）二季度持有 股数92.09万股，与上期相比持股数量不变，占基金净值比例为2.92%，位居第九大重仓股。根据测算， 今日浮盈赚取约345.34万元。 中信保诚新兴产业混合A（000209）成立日期2013年7月17日，最新规模16.11亿。今年以来收益 37.13%，同类排名2597/8238；近一年收益28.31%，同类排名3258/8082；成立以来收益183.7%。 10月9日，帝尔激光涨5.14%，截至发稿，报76.66元/股，成交2.70亿元，换手率2.15%，总市值209.71亿 元。 资料显示，武汉帝 ...

9月25日，帝尔激光涨5.08%，截至发稿，报77.32元/股，成交1.20亿元，换手率0.94%，总市值211.52亿 元。 责任编辑：小浪快报 资料显示，武汉帝尔激光科技股份有限公司位于湖北省武汉东湖新技术开发区九龙湖街88号，成立日期 2008年4月25日，上市日期2019年5月17日，公司主营业务涉及精密激光加工解决方案的设计及其配套设 备的研发、生产和销售。主营业务收入构成为：太阳能电池激光加工设备98.79%，配件、维修及技术 服务费1.21%。 从帝尔激光十大流通股东角度 数据显示，易方达基金旗下1只基金位居帝尔激光十大流通股东。易方达创业板ETF（159915）二季度 减持4.75万股，持有股数337.2万股，占流通股的比例为2.01%。根据测算，今日浮盈赚取约1261.11万 元。 易方达创业板ETF（159915）成立日期2011年9月20日，最新规模855.37亿。今年以来收益50.48%，同 类排名627/4220；近一年收益99.29%，同类排名526/3820；成立以来收益262.16%。 易方达创业板ETF（159915）基金经理为成曦、刘树荣。 截至发稿，成曦累计任职时间9年1 ...

9月15日，帝尔激光盘中下跌2.00%，截至14:05，报70.95元/股，成交3.69亿元，换手率3.06%，总市值 194.09亿元。 机构持仓方面，截止2025年6月30日，帝尔激光十大流通股东中，景顺长城新能源产业股票A类 （011328）位居第二大流通股东，持股525.35万股，为新进股东。朱雀恒心一年持有（011531）位居第 六大流通股东，持股391.37万股，相比上期减少29.76万股。易方达创业板ETF（159915）位居第七大流 通股东，持股337.20万股，相比上期减少4.75万股。朱雀产业臻选A（007493）位居第八大流通股东， 持股306.88万股，相比上期减少23.02万股。景顺长城成长龙头一年持有期混合A类（011058）位居第九 大流通股东，持股293.91万股，为新进股东。 资金流向方面，主力资金净流出1302.02万元，特大单买入736.87万元，占比2.00%，卖出1055.33万元， 占比2.86%；大单买入5555.83万元，占比15.07%，卖出6539.39万元，占比17.74%。 帝尔激光今年以来股价涨12.28%，近5个交易日跌2.67%，近20日跌5.51 ...

Group 1 - The stock of Dier Laser fell by 5.11% on September 12, trading at 73.21 yuan per share, with a transaction volume of 230 million yuan and a turnover rate of 1.84%, resulting in a total market capitalization of 20.027 billion yuan [1] - Dier Laser, established on April 25, 2008, and listed on May 17, 2019, is located in Wuhan, Hubei Province, and specializes in the design, research, production, and sales of precision laser processing solutions and related equipment [1] - The company's main business revenue composition includes 98.79% from solar cell laser processing equipment and 1.21% from accessories, maintenance, and technical service fees [1] Group 2 - Among the top ten circulating shareholders of Dier Laser, E Fund's ETF (159915) reduced its holdings by 47,500 shares in the second quarter, now holding 3.372 million shares, which accounts for 2.01% of the circulating shares, resulting in an estimated floating loss of approximately 13.2855 million yuan [2] - E Fund's ETF (159915) was established on September 20, 2011, with a latest scale of 85.537 billion yuan, achieving a year-to-date return of 44.16% and a one-year return of 97.88%, ranking 602 out of 4222 and 397 out of 3800 in its category respectively [2]

Group 1 - The core viewpoint of the news is that Dier Laser's stock price increased by 5.03% to 76.48 CNY per share, with a trading volume of 325 million CNY and a turnover rate of 2.58%, resulting in a total market capitalization of 20.922 billion CNY [1] - Dier Laser, established on April 25, 2008, and listed on May 17, 2019, specializes in the design, research, production, and sales of precision laser processing solutions and related equipment [1] - The company's main business revenue composition includes 98.79% from solar cell laser processing equipment and 1.21% from accessories, maintenance, and technical service fees [1] Group 2 - According to data, Citic Prudential Fund holds a significant position in Dier Laser, with its fund, Citic Prudential Emerging Industries Mixed A (000209), holding 920,900 shares, unchanged from the previous period, accounting for 2.92% of the fund's net value [2] - The fund has achieved a return of 26.11% year-to-date, ranking 2769 out of 8175 in its category, and a return of 43.71% over the past year, ranking 3422 out of 7982 [2] - The fund manager, Sun Haozhong, has been in position for 5 years and 263 days, with the fund's total asset size at 2.893 billion CNY and a best return of 72.28% during his tenure [3]

Core Viewpoint - The company, Dier Laser, continues to demonstrate strong performance driven by technological innovation and significant orders, achieving substantial revenue and profit growth in the first half of 2025 [1][4][5]. Financial Performance - In the first half of 2025, Dier Laser reported revenue of 1.17 billion yuan, a year-on-year increase of 29.2%, and a net profit of 327 million yuan, up 38.37% [1]. - For the full year of 2024, the company achieved revenue of 2.014 billion yuan, a growth of 25.20%, and a net profit of 528 million yuan, increasing by 14.40% [3]. - The gross margin for solar cell laser processing equipment rose from 46.93% to 47.57% in the first half of 2025 [4]. Business Expansion and Innovation - Dier Laser has focused on its core business while actively expanding into consumer electronics, new displays, and integrated circuits, creating new growth points [1][2]. - The company has made breakthroughs in various laser technologies, including TOPCon and perovskite, enhancing its competitive edge in the photovoltaic industry [1][5]. - Dier Laser has developed innovative laser micro-etching technology that replaces traditional photolithography, simplifying processes and reducing costs in the BC battery sector [5][6]. Client Base and Orders - The company has established a strong client base, including major photovoltaic manufacturers such as Longi Green Energy and Trina Solar, becoming a comprehensive solution provider [3][4]. - In October 2024, Dier Laser signed significant contracts worth 1.229 billion yuan with leading photovoltaic companies, representing 76.36% of its audited revenue for 2023 [3][7]. Research and Development - Dier Laser maintains a high level of investment in R&D, with 439 domestic and international patents as of June 30, 2025, and has established multiple R&D centers globally [6][7]. - The company is involved in various national strategic emerging industry projects and has built a strong international R&D team to drive innovation [6].

Core Insights - The company demonstrated significant growth in the first half of 2025, particularly in the photovoltaic industry, with a notable increase in revenue and net profit [2][8] Financial Performance - Total revenue reached 1.17 billion yuan, a year-on-year increase of 29.2% - Net profit attributable to shareholders was 327 million yuan, up 38.37% year-on-year - Non-recurring net profit was 316 million yuan, reflecting a 40.51% increase year-on-year - In Q2 alone, total revenue was 609 million yuan, a 33.81% increase year-on-year, with net profit at 164 million yuan, up 61.91% year-on-year [2] Profitability - The gross margin stood at 47.64%, an increase of 2.3% year-on-year - The net profit margin was 27.92%, up 7.09% year-on-year, indicating effective cost control while maintaining high gross margins [3] Expense Management - Total operating expenses amounted to 41.31 million yuan, with a year-on-year increase of 17.99% - Operating expenses accounted for 3.53% of revenue, indicating increased spending alongside business expansion [4] Cash Flow and Accounts Receivable - Operating cash flow per share was -0.52 yuan, a decrease of 34.8% year-on-year, indicating cash outflow pressure - Accounts receivable were significant, with the amount reaching 188.12% of the latest annual net profit, which may impact future cash flow [5] Main Business Composition - Revenue from solar cell laser processing equipment was 1.156 billion yuan, accounting for 98.79% of total revenue, with a gross margin of 47.57% - Revenue from parts, maintenance, and technical services was 14.215 million yuan, making up 1.21% of total revenue, with a gross margin of 53.66% - Revenue from mainland China was 1.141 billion yuan, representing 97.55% of total revenue, with a gross margin of 47.56% [6] Development Review and Outlook - The company focused on the design, research, production, and sales of precision laser processing solutions, primarily for the photovoltaic industry - It actively developed laser processing equipment for consumer electronics, new displays, and integrated circuits, achieving breakthroughs in several key technology areas - The company holds 439 domestic and international patents, with clients including renowned photovoltaic companies such as Longi Green Energy and Tongwei Co., Ltd. [7]

Investment Rating - The report assigns an "Buy" rating for the company, marking its first coverage [1]. Core Insights - The company's revenue from laser equipment shows impressive growth, with a significant competitive edge in laser micro-etching technology [6]. - In 2024, the company achieved a revenue of 2.014 billion yuan, a year-on-year increase of 25.20%, and a net profit attributable to shareholders of 528 million yuan, up 14.40% year-on-year [5]. - For Q1 2025, the company reported a revenue of 561 million yuan, reflecting a year-on-year growth of 24.55%, and a net profit of 163 million yuan, up 20.76% year-on-year [5]. Revenue and Profitability - In 2024, revenue from solar cell laser processing equipment reached 1.994 billion yuan, a year-on-year increase of 45.86%, with a gross margin of 45.86%, up 3.56 percentage points [6]. - The company continues to maintain a strong competitive advantage in its core products, particularly in laser-induced sintering (LIF) equipment for TOPCon technology, which has seen successful mass production orders [6]. Research and Development - The company has increased its R&D investment, with R&D personnel rising to 553, accounting for 36.26% of the total workforce, and R&D expenses reaching 283 million yuan, a year-on-year increase of 12.73% [6]. - New laser welding processes are being developed, with production samples already delivered, expanding the market for laser equipment applications in components [6]. Financial Forecasts - The company is expected to benefit significantly from the accelerated industrialization of back-contact (BC) batteries, with projected revenues of 2.456 billion yuan, 3.194 billion yuan, and 4.932 billion yuan for 2025, 2026, and 2027 respectively [6][8]. - Net profits attributable to shareholders are forecasted to be 717 million yuan, 919 million yuan, and 1.133 billion yuan for the same years [8]. - The current stock price corresponds to a P/E ratio of 22, 17, and 14 for 2025, 2026, and 2027 respectively [6].