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Wuhan maker of laser-welding and automated assembly lines for lithium batteries, with other precision laser equipment.
Wuhan maker of laser-welding and automated assembly lines for lithium batteries, with other precision laser equipment.
Sells made-to-order production lines and laser-welding machines, mostly to makers of lithium batteries, so orders follow the industry's plant-building cycle. Home-appliance and building-component customers are a smaller outlet, and it is adding equipment for supercapacitors and perovskite solar cells.
Moat: narrow (process know-how, customer qualification). Laser-welding process know-how built into customers' battery lines; many alternative equipment makers exist.
Headquarters: Wuhan, China · Employees: 1,153
Size Wuhan Yifi Laser (688646.SS) is a China Industrials company (Industrial Machinery) with a market value of $717M, the 3012th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥52.99 on 6 Nov 2026.
Performance Over six months the shares fell 7.1%, against -24.6% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 69.6% over the last twelve months (peer median +4.9%); the operating margin is -5.2% (peer median 4.2%).
Valuation It trades at 3.5× enterprise value to sales against a peer median of 2.9× (10th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +31%, so the hurdle is -28 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.9 points below its cost of capital (8.9% WACC).
Next results Next results expected around 4 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.24B | CN¥798M | CN¥688M | CN¥696M | CN¥539M |
| Revenue growth | — | +16% | -1% | +29% | — |
| Gross profit | CN¥255M | CN¥139M | CN¥165M | CN¥213M | CN¥185M |
| EBITDA | n/a | -CN¥71.3M | CN¥7.19M | CN¥81.0M | CN¥71.1M |
| Net income | -CN¥38.4M | -CN¥48.9M | CN¥25.4M | CN¥101M | CN¥93.9M |
| Free cash flow | CN¥316M | -CN¥85.6M | -CN¥209M | -CN¥109M | CN¥5.91M |
| Capital expenditure | CN¥139M | CN¥84.1M | CN¥124M | CN¥85.6M | CN¥53.0M |
| Total debt | CN¥867M | CN¥600M | CN¥552M | CN¥415M | CN¥269M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Wuhan Yifi Laser 688646.SS | $717M | -7% | +70% | -5% | 3.5× | 2.9% |
| Han's Laser Technology Industry 002008.SZ | $7.97B | -48% | +59% | 12% | 2.1× | 19.6% |
| Wuxi Lead Intelligent Equipment 300450.SZ | $7.88B | -41% | +28% | 10% | 2.6× | 10.4% |
| Shenzhen Yinghe Technology 300457.SZ | $1.84B | -34% | +27% | 6% | 1.2× | 11.4% |
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 | 688646.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -26.4% | -8.1% | 2nd lowest of 21 |
| 6-month return | -7.1% | -24.6% | 4th highest of 21 |
| Distance from 52-week high | -36.5% | -45.6% | 9th highest of 21 |
| Revenue growth (TTM) | +69.6% | +4.9% | 2nd highest of 21 |
| Operating margin | -5.2% | 4.2% | 3rd lowest of 21 |
| EV / Sales | 3.5× | 2.9× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 2.9% | 11.2% | 3rd least demanding of 13 |
| Growth delivered (Del g) | +31.1% | +5.5% | highest of 13 |
| Hurdle (Req g minus delivered) | -28.2 pp | +8.5 pp | 2nd least demanding of 13 |
| ROIC minus cost of capital | -11.9 pp | -3.0 pp | 3rd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wuhan Yifi Laser 688646.SS | China | $717M | -7% | +70% | -5% | 3.5× | 2.9% | +31.1% |
| META Green Cooling Technology 7892.TWO | Taiwan | $717M | -40% | +227% | 26% | 14.0× | n/a | n/a |
| HIT Welding Industry 301137.SZ | China | $717M | -38% | +10% | 2% | 2.7× | n/a | n/a |
| Foshan Golden Milky Way Intelligent Equipment 300619.SZ | China | $717M | -34% | +40% | 4% | 3.1× | n/a | n/a |
| EIZO 6737.T | Japan | $717M | +34% | +3% | 4% | 1.1× | 17.8% | +1.2% |
| Zhuzhou Tianqiao Crane 002523.SZ | China | $714M | -13% | +5% | 5% | 1.9× | 7.1% | +6.8% |
| Shanghai Weihong Electronic Technology 300508.SZ | China | $713M | +35% | +13% | 8% | 7.8× | 38.8% | +21.1% |
| Atlantic China Welding Consumables 600558.SS | China | $711M | -8% | +5% | 7% | 1.2× | 1.7% | +4.3% |
| Sinopec Oilfield Equipment 000852.SZ | China | $728M | -31% | -6% | 1% | 1.2× | n/a | n/a |
| Xiamen Jiarong Technology 301148.SZ | China | $703M | -29% | -2% | -1% | 7.8× | 46.2% | -3.2% |
| Zhejiang Chunhui Intelligent Control 300943.SZ | China | $732M | -16% | +10% | 4% | 7.8× | 57.5% | +1.7% |
| Jiangsu Ankura Intelligent Electric 300617.SZ | China | $732M | -50% | +5% | 2% | 4.3× | n/a | n/a |
| Ningbo Henghe Precision Industry 300539.SZ | China | $732M | -37% | +3% | 6% | 5.1× | n/a | n/a |
| ZheJiang RIFA Digital Precision Machinery 002520.SZ | China | $700M | +7% | -48% | -137% | 6.3× | 18.1% | -9.3% |
| Luoyang North Glass Technology 002613.SZ | China | $700M | -18% | -18% | -2% | 2.8× | 7.4% | +8.1% |
| Jintuo Technology 603211.SS | China | $735M | -33% | +12% | 5% | 3.9× | n/a | n/a |
| Nanxing Machinery 002757.SZ | China | $697M | -32% | +17% | 5% | 1.3× | 4.8% | +9.9% |
| Jiangsu Rainbow Heavy Industries 002483.SZ | China | $745M | -14% | -30% | 10% | 0.6× | -16.0% | +13.6% |
| Jiangyin Haida Rubber & Plastic 300320.SZ | China | $687M | -20% | +2% | 9% | 1.2× | 7.9% | +9.7% |
| Zhejiang Kingland Pipeline and Technologies 002443.SZ | China | $748M | -19% | -6% | 3% | 1.0× | 14.5% | -3.6% |
| Xinlei Compressor 301317.SZ | China | $687M | -49% | +10% | -16% | 5.7× | n/a | n/a |