Delphi Laser(SH:688170)2022-11-17 14:34Group 1: Company Overview - Suzhou Delong Laser Co., Ltd. is a leading company in the laser processing equipment industry, with a focus on R&D and production capabilities across the entire industrial chain [1][3]. - As of the end of 2021, the company had 149 R&D personnel and 180 technical staff, accounting for 49% of the total workforce [3]. Group 2: Product Development and Market Position - The company has made significant progress in Micro LED technology, with expectations to secure related orders in the second half of 2022 [2]. - The gross profit margin for the company's laser processing equipment has consistently remained above 50%, significantly higher than the industry average, due to its focus on high-end applications [2][3]. - The company has successfully developed a fiber picosecond laser, expanding its product line to include high-demand applications in the semiconductor sector [4]. Group 3: Financial Performance and Growth Expectations - The company anticipates steady growth in business scale for 2022, supported by a robust order backlog [2]. - The gross profit margin for laser processing equipment using self-developed lasers is notably higher than that of equipment using purchased lasers, contributing to the overall profitability [3]. Group 4: Competitive Landscape - The company faces price competition primarily in the low-end nanosecond laser market, but its high-end ultrafast lasers maintain strong pricing power due to their technological advantages [4]. - The company is one of the few domestic manufacturers capable of providing industrial-grade ultrafast lasers, which have gained market recognition and are expected to see significant growth [4].