Yangtze River Business Daily News ● Yangtze River Business Daily reporter Li Jing
The process of domestic substitution has accelerated, and Ruike Laser (300747. SZ) achieved significant growth last year.
According to the annual report disclosed by Ruike Laser a few days ago, in 2023, the company will achieve operating income of 3.680 billion yuan, a year-on-year increase of 15.40%, net profit attributable to the parent company of 217 million yuan, a year-on-year increase of 431.95%, and non-net profit of 166 million yuan, a year-on-year increase of 1825.92%. The company plans to distribute 1.2 yuan (tax included) to all shareholders for every 10 shares, with a total cash dividend of 67.7786 million yuan.
In 2023, Ruike Laser will deepen the operation of the system with the three major sales segments of core business, strategic business and international business as the core, gradually improve the sales channels, and maintain a steady increase in market share.
The Yangtze River Business Daily reporter noticed that Ruike Laser has surpassed the overseas giant IPG in the domestic market and has become China's largest fiber laser manufacturer. According to the data, the company's laser sales in 2023 will be about 159,100 units, a year-on-year increase of 16.39%, of which nearly 6,000 units will be more than 10,000 watts, and the sales volume will increase by nearly 80% year-on-year, and the domestic market share will be in a leading position.
Gross profit margin of optoelectronic devices recovered to 25.99%
According to public information, Ruike Laser was listed on the GEM in 2018 and is a key high-tech enterprise of the National Torch Plan specializing in the research and development, production and sales of fiber lasers and their key devices and materials. Deeply cultivated in the industry for more than ten years, the company has formed six categories of products, such as CW fiber lasers and pulsed fiber lasers, and is in a leading position in the domestic laser market.
According to the annual report, in 2023, the company's optoelectronic device manufacturing revenue will be 3.679 billion yuan, accounting for 99.98% of revenue, a year-on-year increase of 15.42%. Among them, CW fiber lasers and pulsed fiber lasers are the company's main products, with annual revenue of 2.964 billion yuan and 44 million yuan respectively, accounting for 80.56% and 11.90% respectively, a year-on-year increase of 20.16% and 3.01% respectively.
From 2021 to 2023, the sales volume of the company's optoelectronic device manufacturing will be 110,400 units, 136,700 units, and 159,100 units, respectively, with a year-on-year increase of 46.78%, 23.85%, and 16.39% respectively.
It is worth mentioning that Ruike Laser will achieve revenue of 141 million yuan in foreign markets in 2023, a year-on-year increase of 134.05%. The company pointed out in the annual report that with the support of lithium battery, photovoltaic, new energy vehicles and other industries, it has brought historic opportunities for laser equipment to go to sea, and equipment going overseas has become the main theme. The company's international business has cooperated with a number of overseas first-line brand customers, which has further enhanced the company's brand level and industry status.
In terms of net profit attributable to the parent company, Ruike Laser will drop sharply to 40.8734 million yuan in 2022 after reaching a peak of 474 million yuan in 2021. The company pointed out that in 2022, affected by multiple factors such as the macro economy and the increasingly competitive fiber laser market environment, the company adopted a more aggressive sales strategy.
However, in 2023, the company will continue to increase R&D investment in basic technologies, materials, devices, light sources, etc., horizontally build a "four-full" laser product system with full pulse width, full band, full power, and full application, and vertically deepen the self-development and self-production of core devices.
In 2023, Ruike Laser will achieve revenue of 3.680 billion yuan and net profit attributable to the parent company of 217 million yuan, an increase of 15.40% and 431.95% year-on-year, respectively, and deduct non-net profit of 166 million yuan, a year-on-year increase of 1825.92%. The gross profit margin of the company's optoelectronic device manufacturing was 25.99%, an increase of 7.94 percentage points from 2022.
The domestic market share surpassed IPG
As the first fiber laser manufacturer in China, Ruike Laser was acquired and controlled by Aerospace Sanjiang in 2011, and its product power covers high-power lasers from 10W to 120kW, creating a new fiber laser system in China.
From the perspective of the mainland fiber laser market, domestic fiber lasers have realized the transformation from relying on imports to independent research and development, replacing imports to exports. From the perspective of market share changes, Ruike Laser has surpassed IPG in the domestic market and has become the largest fiber laser manufacturer in China.
Recently, the Wuhan Literature and Information Center of the Chinese Academy of Sciences, China Laser Magazine, and the Chinese Optical Society jointly released the "2024 China Laser Industry Development Report". According to the report, Ruike Laser, a leading domestic company, has achieved growth, surpassing IPG Optoelectronics of the United States, which is the first in the country. IPG's sales in China fell 25% year-on-year, the lowest market share in nearly a decade.
Ruike Laser's annual report shows that in 2023, the company will accurately grasp the high-end application markets such as automobile manufacturing, new energy, photovoltaic solar energy, 3D printing, aerospace, etc., actively develop customized products, use the "Banner" series of lasers to quickly cut into the high-end manufacturing industry monopolized by imported lasers, and develop a rich product matrix according to the different requirements of each market, so as to make full preparations for entering the high-end application market in an all-round way.
In the past year, the Kuaizhou Ruike Laser rocket has been successfully launched, realizing the combination of aerospace and laser century; Huangshi Smart Factory has been officially put into operation, marking the company's production mode to high-end, intelligent and green; the authorized patents have exceeded 1000+ throughout the year, and the level of intellectual property protection and core competitiveness have been comprehensively improved; the technology is internationally leading, creating a new system of circular modified Chinese fiber lasers; and taking the lead in formulating an IEEE standard "Guide to Test Methods and Requirements for Industrial Ultrashort Pulse Lasers" (P2999), which further established the company's brand image and effectively enhanced the company's international influence.
At the same time, the company further improved the R&D management system, fully implemented the IPD management reform, and carried out R&D work around the "four full" product development strategy, and carried out overall planning and strategic upgrading of product performance, product services and product spectrum, with R&D investment of 338 million yuan in 2023, accounting for 9.18% of operating income, a year-on-year increase of 9.38%.
From 2018 to 2022, the company's R&D investment was 87 million yuan, 118 million yuan, 173 million yuan, 288 million yuan, and 309 million yuan, accounting for 5.92%, 5.87%, 7.53%, 8.43%, and 9.69% of revenue respectively, with a compound growth rate of 25.38% in the past 6 years.
Ruike Laser said that in 2024, the company will adhere to the road of technological innovation, continue to improve the investment and development of independent research and development, new product industrialization, enhance the competitive position of the company's fiber laser products, and open up the technical gap with competitors in the industry.