DR Laser(SZ:300776)2022-12-03 08:41Company Overview - Wuhan Dier Laser Technology Co., Ltd. was established on April 25, 2008, focusing on precision laser processing solutions and related equipment development, production, and sales [2][3] - The main products are precision laser processing equipment used in the photovoltaic (PV) sector, with subsidiaries in Wuxi and Tel Aviv, Israel [3] Business Performance - In Q3 2020, the company achieved operating revenue of CNY 265.27 million, a year-on-year increase of 50.11% [4] - Net profit attributable to shareholders was CNY 95.31 million, up 23.41% year-on-year [4] - Cumulative operating revenue from the beginning of the year to the end of the reporting period reached CNY 711.81 million, a growth of 37.36% [4] - Total assets as of September 30, 2020, were CNY 2.42 billion, an increase of 9.56% from the beginning of the year [4] - The company's equity attributable to shareholders was CNY 1.68 billion, up 15.30% from the beginning of the year [4] Research and Development - R&D expenses as of Q3 2020 amounted to CNY 33.76 million, a year-on-year increase of 50.63% [4] - The main components of R&D expenses are labor and materials, focusing on enhancing PERC and PERC+ technologies, as well as developing technologies for Topcon and HJT N-type battery processes [5][6] - The company aims to expand its technology reserves into consumer electronics and integrated circuits [5] Market Position - As of the end of 2018, approximately 77% of PERC process capacity among major domestic PV manufacturers utilized the company's equipment, while 86% of SE process capacity also relied on its products [6][7] - The company maintained a high market share in the domestic PV sector, with its PERC laser ablation and SE laser doping equipment widely adopted [6][7] Future Outlook - The company anticipates a significant market demand for large-sized battery technology, with new orders expected to increase the value of equipment used in 18X and 210 models [8] - The overall gross margin for Q3 2020 was 47.2%, slightly down from the first half of the year but still high within the industry [8] - The company is exploring the introduction of domestic laser equipment to reduce costs and improve performance [9]