A few days ago, DR laser released 2024 half-yearly report, the company realized operating income of 906 million yuan in the first half of the year, a year-on-year increase of 34.40%; net profit of 236 million yuan, a year-on-year increase of 35.51%.
For the reasons of performance growth, DR laser said in the half-yearly report, the company's first half of the order continued to acceptance brought operating income growth. The rapid development of photovoltaic power generation industry and technological innovation is the core driving factor of the company's performance. Photovoltaic cell manufacturers to the application of high-efficiency solar cells in the field of advanced laser processing equipment is a direct driver of the company's performance.
Photovoltaic industry boom degree high order acceptance continue to bring performance growth
“In recent years, the photovoltaic industry supportive policies frequently, to promote the growth and development of the photovoltaic industry. Renewable energy represented by PV is continuously favored, and PV market application continues to expand.” Avon Strategy Chief Investment Officer Cao Zhe said in an interview with the Securities Daily reporter.
The national energy bureau 2024 first half of photovoltaic power generation construction data show that in the first half of China's new photovoltaic installed 102.48GW, of which centralized photovoltaic 49.6GW, distributed photovoltaic 52.88GW. the international energy agency (IEA) data show that by 2027, photovoltaic cumulative installed capacity will exceed all other forms of power. 2022 -2027, the global PV installed new 1500GW, an annual average of 300GW.
The main business of DR laser is the design of precision laser processing solutions and its supporting equipment development, production and sales, and has successfully applied laser processing technology to PERC, TOPCon, IBC, HJT, Calcium Titanium Ore and other high-efficiency solar cells and modules process.
In terms of the composition of subdivided orders, it mainly includes equipment and accessories, maintenance and technical service fees, of which the equipment orders mainly come from TOPCon and BC process laser equipment. At present, the company's TGV laser microporous equipment has realized small batch orders, IGBT laser annealing equipment and wafer laser hidden cutting equipment is under development.
“R & D and technology reserves, customer resources, services, product quality and team and other core competitive advantages is the fundamental guarantee of the company's performance.” The relevant person in charge of DR Laser said.
From 2018 to 2023, the company's R&D investment was 18.226 million yuan, 35.892 million yuan, 56.3515 million yuan, 104 million yuan, 131 million yuan, 251 million yuan. in the first half of 2024, the company's R&D expenses were 139.5603 million yuan, an increase of 44.56% over the same period of the previous year, accounting for 15.41% of operating income. At present, the company has R&D centers in Wuhan, Wuxi, Yavne, Israel, and Singapore.
According to the research report, DR laser applied to TOPCon laser doping (TCSE) and laser-induced sintering (LIF) equipment mass production orders are rapidly expanding. At the same time, the company is focusing on promoting the development and validation of TGV laser microporous equipment; XBC laser micro-etching market share leader, TOPCon +, HJT, chalcogenide and other new laser technologies are expected to continue to release volume.
In addition, in terms of new product delivery, the company's component whole line equipment can simplify the component production process, improve welding quality, improve component efficiency, more suitable for 0BB component application. “Currently in the BC route, has delivered mass production prototypes to customers, the future can also be used for TOPCon, HJT and other routes.” The person in charge said.
Signed the third phase of the project to further expand production capacity and actively seek epitaxial development
DR laser in order to further enhance the company's core competitiveness, continued to expand production capacity, at the same time, DR laser also with the help of professional organizations, to carry out epitaxial expansion, layout of semiconductors, new energy and other industry chain areas related to new technologies and so on.
In June this year, DR laser announced that it intends to participate in the establishment of industrial funds. Investment areas include new energy, laser industry chain and pan-semiconductor field of new technologies, new materials, core components and high-end equipment. DR laser relevant person in charge of the “Securities Daily” reporter said in an interview, semiconductor and new energy industry chain has a long track, the market is huge, and are strongly supported by the state industry, the company and professional organizations for these areas to set up a fund, to find future mergers and acquisitions of the target has positive significance.
In their own production expansion and technical reserves, DR laser has also been prepared. In July this year, DR laser announced plans to invest 3 billion yuan, in the Optics Valley to set up headquarters and R & D production base of the third phase of the project.
As early as October 2021, DR laser and the East Lake High-tech Management Committee signed a cooperation agreement to spend 2 billion yuan in the local investment in the R & D production base of the second phase of the project. The project includes the expansion of DR Laser's original photovoltaic equipment business, mainly for laser ablation equipment, laser doping equipment and other existing high-end photovoltaic equipment development and production. At present, the project is under construction. The company said that the three-phase project will build the group headquarters and cutting-edge laser technology innovation research institute, expand the photovoltaic module laser packaging equipment production line, and new semiconductor laser equipment production plant.
The same in July this year, DR Laser and Changzhou Shichuang Energy Co., Ltd (referred to as “Shichuang Energy”) signed a strategic cooperation agreement, the two sides intend to focus on photovoltaic laser and high-end equipment for strategic cooperation. The two sides will work together on professional cooperation in the field of advanced technology, promote scientific and technological innovation through industrial focus, and assist the high-quality development of the photovoltaic industry chain.
“DR laser in maintaining the existing market share leading advantage on the basis of actively promoting technology research and development and outreach development, performance is expected to maintain sustained growth.” Cao Zhe said.
Source: Securities Daily Network
