大族激光 - 因印制电路板和消费电子设备推动增长及利润率回升，评级从中性上调至买入

2 September 2025 | 3:00PM HKT Han's Laser Technology (002008.SZ) Upgrade to Buy from Neutral on growth & margin turnaround driven by PCB and consumer electronics equipment 002008.SZ 12m Price Target: Rmb44.80 Price: Rmb36.37 Upside: 23.2% We upgrade Han's Laser to Buy from Neutral with an updated 12m TP of Rmb44.8 implying c.20% upside. We expect to see earnings growth and margin turnaround in 2025, after 3 years of yoy EBIT decline in 2022-2024, driven by increasing AI related demand in the PCB equipment b ...