, the company's business introduction
Laisai Laser focuses on the R&D, production and sales of products in the field of laser measurement and intelligent positioning, and is an overall solution provider in the field of laser measurement and intelligent positioning. After more than 20 years of deep cultivation, the company has developed into a manufacturer of laser emission, laser reception, laser ranging, distance sensing and control, horizontality and angle sensing and control.
The company has a number of series of products such as building laser positioning, engineering laser intelligent positioning, laser measurement and sensing, which can provide real-time measurement data on the construction site (such as high-precision horizontality, verticality, slope degree, distance, angle, etc.), which are widely used in building decoration measurement, engineering road construction, precision agriculture, pipeline and mine construction, industrial equipment installation, long-distance obstacle avoidance and remote target positioning and other fields.
At present, the company's products have achieved the coverage of 31 provinces, municipalities, autonomous regions and most of the municipal sales networks in China, and the company's products are sold to many countries and regions around the world, including Europe, the United States, Canada, Japan, Australia and Southeast Asia.
The company's main product forms and brief introductions are as follows:
1) Architectural laser positioning products.
2) Engineering laser intelligent positioning products.
3) Laser sensing and measurement equipment.
In addition, the company also produces related accessories for laser instruments and equipment, including tower rulers, laser light sources, tripods, etc., which are mainly used with laser levelers, laser markers and other measuring instruments and equipment.
During the reporting period, the composition of the company's main business income is as follows:
, the company's performance
From 2018 to 2022, the company's growth and profitability are as follows:
As of September 30, 2023, the company's operating income, attributable net profit, and non-net profit were 18.2 billion, 21.79 million, and 19.2 million, an increase of -4 year-on-year respectively38%γ-9.96%γβ
, development and comparison with comparable companies
The company's issue price is 728 yuan, 19.17 million shares issued (including 15.33 million shares issued online, there are no old tradable shares before this issuance), lead underwriter: Guotai Junan**. Listing location: Beijing Stock Exchange, subscription date: December 18, 2023 (Monday). The market capitalization after issuance is 5600 million, circulating market value of 1400 million. The dynamic P/E ratio is 1931, with a static P/E ratio of 1647γThe market capitalization, price-to-earnings ratio and revenue of comparable companies are as follows:
The estimated winning rate and the funds required to secure 100 shares are as follows:
, Summary
From 2020 to 2022, the company's construction laser measuring instruments (laser levelers, laser marking instruments and other construction laser instruments, etc.) will have a market share of more than 20% in the domestic high-end products. The company has a profound technical background, and the core technical personnel have many years of experience in laser measurement and intelligent positioning industry. After more than 20 years of deep cultivation, a number of technologies of the company have reached the international leading level and filled the domestic research gap.
Although the concept of the industry in which the company is located is good, it is also facing strong competition. With the steady growth of downstream demand and the introduction of favorable policies in the industry, industry giants such as Bosch, Leica, Hilti, and many domestic professional brands have strengthened the publicity and promotion of their laser measurement products, new product launches and channel construction. If market competition further intensifies in the future, it may affect the company's performance and market position.
The company's profitability and growth are not too strong, and the overall financial indicators are relatively neutral, not very good, not very bad. The company's price-to-earnings ratio does not look high, but it is not low on the Beijing Stock Exchange. The biggest advantage of the company is that the market value of the issue is only 5600 million, the plate is very small, it is recommended to subscribe. The latest West Magnetic Technology subscription funds reached 149 billion yuan, and this time there is a high probability that it will exceed 150 billion.
New rating: cautious. I Subscribe to the Plan: Participate.
Notes: The performance of IPO on the first day is related to many factors, and this article is only a brief analysis of the company's business, main financial indicators and valuation. When investors hit the newIndependence requiredThink, and make a decision. If there is a conclusive statement in the article, it is also a personal opinion. We hope that investors will invest rationally.