证券代码：300776 证券简称：帝尔激光 一、经营方面 武汉帝尔激光科技股份有限公司投资者关系活动记录表 编号：2026-001 | 投资者关系 | □特定对象调研 □分析师会议 | | --- | --- | | 活动类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 √其他 电话会议 | | 参与单位名 | 长江证券股份有限公司、中信证券股份有限公司、天风证券股份有限 | | 称 | 公司、中国银河证券股份有限公司、广发证券股份有限公司、招商证 | | | 券股份有限公司、碧云资本管理有限公司、景顺长城基金管理有限公 | | | 司、开源证券股份有限公司、财通证券股份有限公司、博时基金管理 | | | 有限公司、国泰海通证券股份有限公司、青骊投资管理 (上海) 有限 | | | 公司、鹏华基金管理有限公司、光大理财有限责任公司、中邮保险资 | | | 产管理有限公司、中银基金管理有限公司、江海证券有限公司、广东 | | | 正圆私募基金管理有限公司、中银国际证券股份有限公司、耕霁 (上 | | | 海) 投资管理有限公司、冯源 (宁波) 私募基金管理有限公司 ...

Company and Industry Summary Company: 海目星 (Haimu Star) Key Points - **Industry Context**: The demand for high-speed transmission in data centers is continuously increasing. The Micro LED CPO (Chip-on-Panel) solution demonstrates significant energy-saving effects in data center interconnection scenarios, with power consumption only 5% of that of copper cable solutions. This positions the Micro LED CPO as a potential alternative for optical interconnection due to its energy efficiency [1][2] - **Product Development**: 海目星 is strategically developing four key Micro LED devices to support the industrialization of CPO optical interconnection: 1. **Mass Transfer Equipment**: Achieves high-speed positioning, precise alignment, and breakthroughs in laser processing technology [1] 2. **Mass Welding Equipment**: Completes the development of G2.5 generation panels and has achieved small-batch production [1] 3. **Laser Repair Equipment**: Overcomes critical technical bottlenecks in chip removal, pad leveling, and chip welding [1] 4. **Collaboration with Fuzhou University**: Focuses on breakthroughs in Micro LED mass detection technology, filling a gap in the industry [1] - **Order Growth**: The company has signed nearly 100 million in new orders for 2025, with expectations to exceed 130 million in 2026. As of January-February, 20 million has already been completed, indicating a high order completion rate and gradually improving gross margins [2] - **Future Projections**: The year 2026 marks the first year for the company's equity incentive and employee stock ownership plan assessment. The fourth quarter of 2025 confirmed a performance inflection point, with expectations for quarterly performance to be realized. Projected earnings for 2026 and 2027 are 50 million and 70 million respectively, corresponding to PE ratios of 28x and 20x. The company continues to be recommended for investment [2]