A-share Subscription | Finetuned Laser (688826.SH) opens for subscription, holding a 16.85% market share in the domestic laser market for quantum technology.

On August 7, Precision Laser (688826.SH) began subscription with an issue price of 186.88 yuan per share and a subscription limit of 0.20 million shares. It belongs to the Shanghai Stock Exchange, with China Securities Co., Ltd. as its sponsoring institution. According to the prospectus, the company primarily targets the field of quantum technology, including quantum computing and quantum precision measurement, as well as semiconductor areas such as wafer manufacturing, wafer metrology, and wafer stealth cutting. It has developed a new precise laser technology route, launching laser products with precisely controlled wavelength, linewidth, noise, power, and pulse, supporting the domestic production process of China's quantum technology and semiconductor industrial chain. The company aims to meet the demand for wide-band, narrow-linewidth, low-noise, high-power precision lasers in quantum computing and quantum precision measurement. Low-noise precision seed lasers are generated from fiber DFB seed sources or semiconductor seed sources, amplified for power via fiber amplifiers, and then obtain adjustable lasers with arbitrary wavelengths from 177-5000nm, low noise, narrow linewidth, and high power through nonlinear frequency conversion techniques such as frequency doubling, sum frequency generation, and difference frequency generation. Additionally, the company provides optical integration services like locking laser frequency, beam splitting, beam combining, frequency shifting, and switching according to demand, serving renowned domestic and international universities and research institutes, including Client A, the Chinese Academy of Sciences, and Client E, to support the rapid development of fundamental research and technological applications in the field of quantum technology. Furthermore, the companys products are also widely used in cutting-edge research areas such as laser interference exposure and laser remote sensing. Based on the pressing demand within the semiconductor industry for domestic precision laser sources, the company has launched precision laser products to serve important clients such as Client B, Client C, Client D, Zhong'an Semiconductor, Angkun Vision, and Client G, promoting the localization process of wafer manufacturing equipment, measurement equipment, and stealth cutting equipment in China. This has significant implications for replacing imported laser source products and stabilizing the supply chain of Chinas semiconductor industry while ensuring core technologies are independently controllable. According to research data from QYResearch and subsequent calculations, in 2024, the company is projected to hold a 9.21% market share in the global laser market for quantum technology and a 16.85% share in the domestic quantum tech market. In the semiconductor sector, the companys revenue is expected to be 75 million yuan in 2024, capturing a 1.98% share of the domestic market. In terms of finances, the company expects to achieve operating revenues of approximately 148 million yuan, 292 million yuan, and 418 million yuan for the fiscal years 2023, 2024, and 2025, respectively. During the same period, net profits are projected to be approximately 60.46 million yuan, 116 million yuan, and 159 million yuan.