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Han's Laser Technology Industry Group Co Ltd Class A 002008

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Stock XSHE Rating as of
CNY 20.14 −0.05 (0.25%)
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As of Delayed Price Closed
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Company Report

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Han’s Laser Earnings: Recovery in Consumer Electronics Offset by Gluts Elsewhere

Phelix Lee

We maintain our fair value estimate for Han’s Laser of CNY 20 as a gradual recovery in consumer electronics is weighed down by gluts in electric vehicles, lithium batteries, and solar power-generation industries. We view the stock as fairly valued and prefer surveillance and automation product vendor Hikvision as a China industrial recovery play. Two possible upside catalysts are the company’s commitment to repurchase almost CNY 200 million worth of stock by May 2 and artificial intelligence features successfully spurring replacement demand in consumer electronics.

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Price vs Fair Value

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002008 is trading at a 5% discount.
Price
CNY 18.95
Fair Value
CNY 32.00
Uncertainty
High
1-Star Price
CNY 62.00
5-Star Price
CNY 29.00
Economic Moat
Ctlfp
Capital Allocation
Gwxhmdwh

Bulls Say, Bears Say

Bulls

Han’s Laser will succeed in developing high-power lasers to gain a cost advantage.

Bears

Risks from subpar governance may be overlooked by investors.

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Is it the right time to buy, sell, or hold?
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Trading Information

Previous Close Price
CNY 20.19
Day Range
CNY 19.72–20.21
52-Week Range
CNY 14.45–26.90
Bid/Ask
CNY 20.13 / CNY 20.14
Market Cap
CNY 21.19 Bil
Volume/Avg
45.9 Mil / 21.2 Mil

Key Statistics

Price/Earnings (Normalized)
44.74
Price/Sales
1.49
Dividend Yield (Trailing)
0.99%
Dividend Yield (Forward)
0.99%
Total Yield
0.99%

Company Profile

Founded in 2001, Han’s Laser is engaged in manufacturing laser and printed circuit board processing equipment including engravers, welding machines and cutters. It is China’s largest laser equipment supplier and the world’s third-largest. The company’s equipment is applied in the production of consumer electronics, integrated circuits, telecom equipment, auto parts, aerospace, railways and medical devices. The company is headquartered in Shenzhen, China. The group employs nearly 17,000 people and has over 100 offices in China and about 20 countries abroad.
Sector
Industrials
Industry
Specialty Industrial Machinery
Stock Style Box
Mid Core
Total Number of Employees
16,970
Website
http://www.hanslaser.com

Competitors

Valuation

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Metric
002008
300124
ABBN
Price/Earnings (Normalized)
 44.7439.5222.22
Price/Book Value
 1.347.037.17
Price/Sales
 1.495.872.90
Price/Cash Flow
 16.5861.9321.82
Price/Earnings
002008
300124
ABBN

Financial Strength

Metric
002008
300124
ABBN
Quick Ratio
 1.261.210.83
Current Ratio
 1.651.711.23
Interest Coverage
 3.9225.6719.59
Quick Ratio
002008
300124
ABBN

Profitability

Metric
002008
300124
ABBN
Return on Assets (Normalized)
 1.51%9.50%8.77%
Return on Equity (Normalized)
 3.37%18.56%27.51%
Return on Invested Capital (Normalized)
 2.47%15.22%15.88%
Return on Assets
002008
300124
ABBN
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