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Major maker of laser-processing equipment used to cut, weld and mark materials in electronics, PCB and metal manufacturing.
Major maker of laser-processing equipment used to cut, weld and mark materials in electronics, PCB and metal manufacturing.
Sells laser machines and automation lines to factories, so revenue follows customers' equipment budgets, which arrive in waves when electronics makers retool for new product generations. Based in Shenzhen, it is founder-led, with chairman Gao Yunfeng the controlling shareholder.
In one line: A Chinese IPG Photonics/Coherent for laser-processing systems.
Moat: narrow (scale, process know-how, installed base). Broadest domestic laser-equipment product range and installed base among Chinese makers.
Headquarters: Shenzhen, China · Founded: 1996 · Employees: 20,961
Size Han's Laser Technology Industry (002008.SZ) is a China Industrials company (Industrial Machinery) with a market value of $7.97B, the 310th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥52.40 on 6 Nov 2026.
Performance Over six months the shares fell 48.0%, against -14.6% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 58.6% over the last twelve months (peer median +9.8%); the operating margin is 12.2% (peer median 13.7%).
Valuation It trades at 19.1× forward earnings against a peer median of 22.2× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 20% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.7 points below its cost of capital (14.2% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥27.5B | CN¥18.7B | CN¥14.7B | CN¥14.0B | CN¥14.9B |
| Revenue growth | — | +27% | +5% | -6% | — |
| Gross profit | CN¥9.97B | CN¥5.85B | CN¥4.39B | CN¥4.24B | CN¥4.92B |
| EBITDA | n/a | CN¥1.95B | CN¥901M | CN¥1.04B | CN¥1.33B |
| Net income | CN¥2.50B | CN¥1.19B | CN¥1.69B | CN¥820M | CN¥1.21B |
| Free cash flow | CN¥1.67B | CN¥832M | -CN¥267M | -CN¥111M | -CN¥307M |
| Capital expenditure | CN¥884M | CN¥639M | CN¥1.39B | CN¥1.47B | CN¥970M |
| Total debt | CN¥9.61B | CN¥8.75B | CN¥7.99B | CN¥9.14B | CN¥8.78B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Han's Laser Technology Industry 002008.SZ | $7.97B | -48% | +59% | 12% | 19.1× | 19.6% |
| Wuhan DR Laser Technology 300776.SZ | $4.69B | -24% | -23% | 19% | 37.9× | 51.8% |
| IPG Photonics IPGP | $2.78B | -38% | +15% | 5% | 32.8× | 24.8% |
| Coherent COHR | $38.0B | -42% | +23% | 14% | 16.6× | n/a |
| Shenzhen Han's CNC Technology 301200.SZ | $9.08B | -25% | +98% | 21% | 32.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002008.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -32.9% | -9.2% | 8th lowest of 21 |
| 6-month return | -48.0% | -14.6% | 4th lowest of 21 |
| Distance from 52-week high | -68.8% | -52.0% | 3rd lowest of 21 |
| Revenue growth (TTM) | +58.6% | +9.8% | 4th highest of 21 |
| Operating margin | 12.2% | 13.7% | 10th lowest of 21 |
| Forward P/E | 19.1× | 22.2× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 19.6% | 14.3% | 6th most demanding of 14 |
| Growth delivered (Del g) | +9.5% | +7.4% | 6th highest of 14 |
| Hurdle (Req g minus delivered) | +10.2 pp | +13.1 pp | 7th least demanding of 14 |
| ROIC minus cost of capital | -4.7 pp | -0.5 pp | 7th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Han's Laser Technology Industry 002008.SZ | China | $7.97B | -48% | +59% | 12% | 19.1× | 19.6% | +9.5% |
| Rational Aktiengesellschaft RAA.DE | Germany | $7.95B | -4% | +6% | 27% | 26.1× | 14.8% | +14.2% |
| Wuxi Lead Intelligent Equipment 0470.HK | Hong Kong | $7.95B | -61% | +35% | 10% | 13.3× | 8.2% | +19.0% |
| Leader Harmonious Drive Systems 688017.SS | China | $7.84B | +27% | +46% | 15% | 283.8× | n/a | n/a |
| GlobalWafers 6488.TWO | Taiwan | $8.15B | -23% | -6% | 11% | 21.4× | n/a | n/a |
| Zhejiang Jingsheng Mechanical & Electrical 300316.SZ | China | $7.69B | -13% | -25% | 0% | 74.3× | 39.6% | +24.6% |
| Zoomlion Heavy Industry Science & Technology 1157.HK | Hong Kong | $7.63B | -36% | +23% | 7% | 8.1× | 12.6% | -5.0% |
| Kokusai Electric 6525.T | Japan | $7.62B | -21% | +15% | 19% | 20.0× | 30.9% | -1.5% |
| Shenzhen Han's CNC Technology 3200.HK | Hong Kong | $8.58B | -66% | +109% | 21% | 9.9× | n/a | n/a |
| Sulzer SUN.SW | Switzerland | $7.39B | +23% | -3% | 13% | 17.9× | -1.4% | +3.7% |
| Robotechnik Intelligent Technology 300757.SZ | China | $7.37B | -42% | +203% | 9% | 219.2× | n/a | n/a |
| Spirax SPX.L | United Kingdom | $7.24B | +2% | +5% | 18% | 22.7× | 20.5% | +7.4% |
| IMI IMI.L | United Kingdom | $8.81B | +3% | +8% | 21% | 19.9× | 14.3% | +4.8% |
| Zurn Elkay Water Solutions ZWS | United States | $7.18B | -15% | +10% | 23% | 21.8× | 10.9% | -2.4% |
| Shenzhen Envicool Technology 002837.SZ | China | $7.13B | -49% | +22% | 9% | 53.5× | 56.2% | +29.0% |
| Beijing E-Town Semiconductor Technology 688729.SS | China | $8.94B | -14% | +10% | 12% | 52.3× | n/a | n/a |
| Timken TKR | United States | $7.07B | -14% | +6% | 15% | 14.5× | 3.7% | +5.5% |
| Guangdong Dtech Technology 301377.SZ | China | $9.23B | -18% | +119% | 36% | 50.9× | n/a | n/a |
| Beijing Huafeng Test & Control Technology 688200.SS | China | $6.87B | -4% | +44% | 36% | 50.0× | 47.7% | +27.6% |
| NIBE Industrier NIBE-B.ST | Sweden | $9.25B | +7% | +2% | 10% | 27.3× | 13.5% | +8.5% |
| Ebara 6361.T | Japan | $9.28B | -40% | +9% | 11% | 14.5× | n/a | n/a |