DR Laser(SZ:300776)2022-12-03 10:54Company Overview - Wuhan Dier Laser Technology Co., Ltd. was established on April 25, 2008, focusing on precision laser processing solutions and related equipment [2] - The main products are precision laser processing equipment used in the photovoltaic (PV) sector, providing customized and comprehensive solutions for solar cell laser processing [3] Market Position - Major clients include top global PV module manufacturers such as Jinko Solar, Trina Solar, JA Solar, Longi Green Energy, and Hanwha Q CELLS, with significant collaboration ongoing [3] - As of the end of 2018, approximately 77% of PERC battery manufacturers and 86% of SE process capacity utilized the company's equipment, indicating a strong market presence [4] Financial Performance - The company has maintained a high growth rate in revenue and orders, attributed to technology accumulation, customer resource management, and product quality improvement [4] - R&D expenses have increased over the years, with figures from January 2016 to June 2019 being 5.73 million, 9.58 million, 18.20 million, and 13.91 million yuan respectively, although the growth rate of R&D expenses has not kept pace with revenue growth [5] Inventory Management - The significant increase in inventory is due to rising orders and the long production cycle of key raw materials like lasers and optical components, necessitating stockpiling [4] Industry Characteristics - The laser processing equipment industry does not exhibit significant seasonal characteristics, with no distinct peak or off-peak seasons [6]