Core Viewpoint - Despite losses in the main photovoltaic industry chain, the equipment manufacturer Dier Laser has maintained stable growth in performance, with significant revenue and profit increases in the first half of 2025 [2][3]. Financial Performance - In the first half of 2025, Dier Laser achieved revenue of 1.17 billion yuan, a year-on-year increase of 29.20% - The net profit attributable to shareholders was 327 million yuan, reflecting a year-on-year growth of 38.37% [2]. Technological Innovation - Dier Laser focuses on the innovative application of laser technology in high-efficiency solar cells, enhancing photoelectric conversion efficiency and optimizing production costs [2]. - The company has developed laser micro-etching technology to replace traditional photolithography in the BC battery sector, simplifying processes and reducing equipment costs [2]. - Laser welding solutions have improved welding quality and stability in the component segment, increasing production flexibility and efficiency [2]. - LIF equipment has effectively enhanced the photoelectric conversion efficiency of batteries, while TCP technology has stabilized improvements in conversion efficiency, component power, and bifacial rates [2]. Patent and R&D Investment - As of June 30, 2025, Dier Laser holds 439 domestic and international patents, with R&D investment reaching 120 million yuan in the first half of 2025 [3]. Client Base and Contracts - The company's main clients include major solar cell manufacturers such as Longi Green Energy, Tongwei Co., and JA Solar [3]. - Dier Laser signed significant contracts totaling approximately 1.229 billion yuan with leading photovoltaic companies, representing 76.36% of the company's 2023 annual revenue [3]. - The company has confirmed sales revenue of 323 million yuan from a contract worth 976 million yuan, with cumulative sales revenue of 491 million yuan recognized [3]. Accounts Receivable - As of the end of the reporting period, the net accounts receivable amounted to 993 million yuan, accounting for 14.89% of total assets [4]. Future Outlook - Dier Laser aims to continue technological upgrades and innovations while expanding into new fields such as new displays and semiconductors to enhance its product portfolio and risk resilience [4].

证券时报记者 刘茜 实习生 鲁芹 今年上半年，在光伏行业主产业链企业出现亏损之际，作为"卖铲人"的设备厂商帝尔激光（300776）， 保持了业绩的稳定增长。8月11日晚，帝尔激光发布2025年半年度报告，上半年实现营收11.70亿元，同 比增长29.20%；归母净利润3.27亿元，同比增长38.37%。 帝尔激光表示，当前经历产业结构优化后的光伏行业，正加速向新质生产力转型。公司始终聚焦激光技 术在高效太阳能电池领域的创新应用，通过提升光电转换效率、优化生产成本，为行业创造持续价值。 同时，公司将技术优势延伸至消费电子、新型显示等新兴领域。 半年报显示，帝尔激光在多个方面取得技术创新。在BC电池领域，公司自主研发的激光微刻蚀技术替 代传统光刻工艺，简化流程、降低设备投入成本，有力推动背接触电池产业化进程。在组件环节，激光 焊接整线解决方案提升焊接质量和稳定性，增强组件生产的灵活性和效率。从TOPCon技术路线来看， LIF设备有效提升了电池的光电转换效率，TCP技术实现了转换效率和组件功率以及双面率的稳定提 升。 此外，公司正常履行中的日常经营重大合同还包括与客户A的总金额为9.76亿元的合同，在本期确认的 ...