Shenzhen United Winners Laser Co., Ltd. (688518.SS) Bundle
Founded in 2005, Shenzhen United Winners Laser Co., Ltd. (SSE: 688518) has evolved into a national high-tech leader in precision laser welding and intelligent manufacturing-listing on the Shanghai STAR Market in 2020 and building a footprint of over 20 domestic offices and international presences in Japan, Vietnam, South Korea, Brazil, the Czech Republic, and Malaysia; by 2024 it employed about 4,350 people (a 10.59% year-on-year decline) and reported revenue of 3.15 billion CNY in 2024 (down 10.33% y/y), while strategic collaborations with industry giants like CATL, BYD and Foxconn and subsidiaries in Jiangsu, Huizhou, Sichuan and Japan have supported delivery of over 600 customized automatic laser welding systems meeting soldering needs for more than 1,300 products across sectors-from power batteries, EVs and consumer electronics to medical devices-fueling a business model centered on R&D-driven product lines (YAG, fiber, hybrid, diode and pulse lasers) and a market capitalization of 7.74 billion CNY as of December 12, 2025.
Shenzhen United Winners Laser Co., Ltd. (688518.SS): Intro
History- Founded in 2005, Shenzhen United Winners Laser Co., Ltd. (688518.SS) specializes in precision laser welding equipment and intelligent manufacturing solutions.
- Listed on the Shanghai Stock Exchange STAR Market in 2020 (ticker: 688518.SS), marking a major capital-markets milestone and enabling accelerated R&D and capacity expansion.
- By 2024 the company employed approximately 4,350 staff, reflecting rapid scale-up in production, R&D and service capabilities.
- Domestic network: more than 20 offices across major Chinese regions, including Beijing, Shanghai and Jiangsu, supporting sales, service and localized engineering.
- International footprint: direct presence or active sales/service channels in Japan, Vietnam, South Korea, Brazil, the Czech Republic and Malaysia.
- Strategic industrial partnerships with leading OEMs and battery and electronics manufacturers such as CATL, BYD and Foxconn have strengthened market positioning and large-volume order flow.
| Metric | Data / Notes |
|---|---|
| Founded | 2005 |
| Listing | Shanghai STAR Market (688518.SS), 2020 |
| Employees (2024) | ~4,350 |
| Domestic offices | Over 20 (including Beijing, Shanghai, Jiangsu) |
| International markets | Japan, Vietnam, South Korea, Brazil, Czech Republic, Malaysia |
| Strategic customers/partners | CATL, BYD, Foxconn (among others) |
- Publicly traded entity on STAR Market: ownership comprises institutional investors, retail shareholders and strategic partners; post-IPO shareholdings include company founders, management and outside investors (institutional allocation typical for STAR listings).
- Governance emphasizes R&D-driven board oversight and operational management with executive focus on intelligent manufacturing and equipment service network expansion.
- Mission: deliver high-precision laser welding and intelligent manufacturing solutions that improve yield, reliability and automation for advanced electronics, automotive (including EV battery production) and industrial customers.
- Strategic priorities: deepen industry partnerships, expand high-volume production lines, scale after-sales service, and push software/automation integration for smart factories.
- Product portfolio includes laser welding systems (stationary and robotic), laser cleaning and surface-processing equipment, automatic production lines, and integrated MES/automation software.
- Technology emphasis: high-power fiber lasers, motion-control integration, vision-guided welding, closed-loop process monitoring and proprietary welding recipes for specific materials (e.g., copper, aluminum and battery tab welding).
- Operations: centralized manufacturing in China with regional engineering/service centers; standardization of modules for faster deployment; factory acceptance testing and onsite commissioning for large customers.
- Equipment sales: primary revenue from one-time sales of laser welding machines and automated production lines to electronics, battery and precision-manufacturing clients.
- After-sales services: recurring revenue from maintenance contracts, spare parts, consumables (optics, protective components) and service SLAs.
- System integration & software: revenues from line integration projects, MES/custom software, and upgrades that increase per-customer lifetime value.
- Turnkey projects & repeat orders: large OEMs (e.g., battery producers, EV supply chain) drive repeat machine orders and multi-year contracts for production ramp-ups.
- Export sales: international deals and distributor channels contribute incremental equipment and service revenue outside China.
- Close partnerships with major OEMs (CATL, BYD, Foxconn) drive volume, co-development and validation for critical processes (e.g., battery tab welding).
- Integrated product + service model increases recurring revenue share via maintenance, upgrades and software.
- Large domestic service footprint (20+ offices) shortens response times and supports high uptime guarantees for production customers.
- R&D orientation and STAR Market capital access support ongoing product iteration and scaling of automated/mass-production offerings.
Shenzhen United Winners Laser Co., Ltd. (688518.SS): History
Shenzhen United Winners Laser Co., Ltd. (688518.SS) traces its growth from a specialized laser equipment maker into a nationally recognized high‑tech enterprise, expanding manufacturing and R&D capabilities across China and overseas to serve electronics, semiconductor, automotive and precision manufacturing customers. The company went public on the Shanghai Stock Exchange (STAR Market) and has since scaled through targeted subsidiaries, product diversification, and increased vertical integration.- Public listing: Shanghai Stock Exchange, ticker 688518.
- National recognition: Classified as a national high‑tech enterprise.
- Workforce: 4,350 employees as of December 31, 2024 (down 10.59% year‑on‑year).
- Market presence: Market capitalization of 7.74 billion CNY as of December 12, 2025.
- Subsidiaries: Established in Jiangsu, Huizhou, Sichuan and Japan to support domestic and international operations.
Key milestones include R&D investment to support laser source development, machine tool integration, and after‑sales service networks that enabled adoption across electronics manufacturing and precision processing sectors. More on the company's broader trajectory and strategic positioning is available here: Shenzhen United Winners Laser Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
| Metric | Value | Change / Note |
|---|---|---|
| Revenue (2024) | 3.15 billion CNY | -10.33% vs. prior year |
| Employees (2024) | 4,350 | -10.59% vs. prior year |
| Market Capitalization (12‑Dec‑2025) | 7.74 billion CNY | Market valuation on SSE |
| Listing | Shanghai Stock Exchange (688518.SS) | STAR Market listing |
| Registered Subsidiaries | Jiangsu; Huizhou; Sichuan; Japan | Domestic + international footprint |
- Primary revenue drivers: sales of laser processing equipment (cutting, welding, marking), integrated production lines, spare parts and long‑term service contracts.
- How it makes money: product sales, maintenance/service contracts, consumables and parts, and customized engineering solutions for industrial customers.
- Ownership structure note: publicly traded shareholders hold equity via the SSE listing; institutional and retail investors participate in the free float alongside any strategic shareholders disclosed in regulatory filings.
Shenzhen United Winners Laser Co., Ltd. (688518.SS): Ownership Structure
United Winners Laser is committed to providing high-quality laser welding equipment and intelligent manufacturing solutions to global customers. The company's mission centers on technological leadership, customer-focused tailored solutions, robust quality assurance, and sustainable manufacturing practices. Integrity and transparency underpin stakeholder relationships.- Mission: Deliver advanced laser welding and intelligent manufacturing systems that improve customer productivity and product quality worldwide.
- Core values: Innovation, quality assurance, customer-centricity, sustainability, integrity.
- R&D emphasis: Continuous investment in new laser sources, robot integration, and process control software.
- Product sales: High-margin laser welding machines, welding heads, and automation cells sold to electronics, automotive, battery and precision manufacturing sectors.
- After-sales services: Installation, commissioning, training, spare parts and maintenance contracts driving recurring revenue.
- Solutions & integration: Turnkey intelligent manufacturing lines and customized system integration for large industrial customers.
- Software & upgrades: Proprietary process-control software and paid upgrades/licensing for productivity and traceability features.
| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue (RMB) | 760,000,000 | 920,000,000 | 1,050,000,000 |
| Net profit (RMB) | 82,000,000 | 105,000,000 | 120,000,000 |
| R&D spend (% of revenue) | 6.5% | 7.8% | 8.0% |
| Employees | 850 | 1,020 | 1,200 |
| Approx. market cap (RMB) | - | 5,200,000,000 | 6,000,000,000 |
- Largest shareholder: Shenzhen United Winners Technology Group (corporate parent/related-party) - ~30%.
- Institutional investors and funds - ~25% (includes several domestic mutual funds and strategic industrial investors).
- Management & founders (including employee incentives) - ~5-10% combined.
- Public float / retail investors - ~35-40%.
- Quality systems: ISO-certified manufacturing lines, in-house testing labs and process validation for critical welding parameters.
- Sustainability: Energy-efficient laser sources, closed-loop process controls, and waste-minimizing production layouts to reduce environmental footprint.
- Customer-centric actions: Site surveys, tailored automation proposals, OEE improvement benchmarks, and multi-year service agreements.
Shenzhen United Winners Laser Co., Ltd. (688518.SS): Mission and Values
Founded as a specialist in precision laser welding, Shenzhen United Winners Laser Co., Ltd. (688518.SS) focuses on R&D, production and sales of advanced laser welding machines and integrated laser welding systems, serving high-growth manufacturing sectors across China and internationally. The company emphasizes precision, automation and industry partnerships to drive adoption of laser welding solutions in battery, automotive and electronics supply chains. Shenzhen United Winners Laser Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money How It Works United Winners Laser designs, manufactures and deploys laser welding equipment and turnkey automated welding lines that combine lasers, motion control, vision inspection and process software to automate metal joining tasks with high repeatability and traceability.- Core product lines:
- YAG laser series
- Fiber laser series
- Hybrid laser series
- Diode laser series
- Pulse laser series
- Integrated system capabilities:
- Non-standard customized automatic laser welding systems (robot or gantry integration)
- Inline quality inspection and closed-loop process control
- Software for process recipes, traceability and MES integration
- Typical value chain role: equipment OEM supplying factory automation cells and complete production lines to contract manufacturers and OEMs.
- Key end markets:
- Power batteries (cell and pack welding)
- Automobile manufacturing (powertrain and body components)
- Consumer electronics (Housings, connectors, miniature assemblies)
- Hardware appliances (stainless and sheet-metal assemblies)
- Optical communications (precision connector welding)
- Medical equipment (implantable device and instrument welding)
- Installed base and customization:
- Delivered more than 600 sets of non-standard customized automatic laser welding systems
- Systems meet welding requirements for over 1,300 distinct products
- Domestic network: operates over 20 offices across major Chinese regions for sales, service and localized R&D.
- International presence: established operations or sales channels in Japan, Vietnam, South Korea, Brazil, the Czech Republic and Malaysia.
- Strategic collaborations with industry leaders that strengthen market access and co-development:
- CATL - battery manufacturing process integration
- BYD - automotive and battery systems welding applications
- Foxconn - consumer electronics and contract manufacturing automation
- Equipment sales: core revenue from one-off sales of laser welding machines and customized automated systems.
- Turnkey systems & integration: higher-ticket orders for line-level automation integrating lasers, robots, fixtures and inspection.
- After-sales services & consumables: maintenance contracts, spare parts, process optimization and occasional retrofits.
- Software & upgrades: sale of process-control modules, traceability software and optional inspection packages.
- Export sales and localized service contracts in overseas markets.
| Product Series | Primary Characteristics | Typical Applications |
|---|---|---|
| YAG laser series | Short-pulse precision, excellent for fine metal work | Medical devices, small connectors, electronic components |
| Fiber laser series | High efficiency, high beam quality, suitable for continuous welding | Battery tabs, automotive structural parts, metal housings |
| Hybrid laser series | Combines advantages of different laser types for thicker materials | Automotive parts, powertrain components, heavy sheet welding |
| Diode laser series | Compact, energy-efficient, good for localized heating/welding | Consumer appliance assembly, localized brazing |
| Pulse laser series | Controlled energy bursts for minimal heat-affected zones | Precision electronics welding, optical component joining |
- Delivered systems: >600 customized automatic laser welding systems to date.
- Product coverage: welding solutions addressing >1,300 unique product types.
- Office/network: presence in 20+ domestic offices and multiple overseas markets (Japan, Vietnam, South Korea, Brazil, Czech Republic, Malaysia).
Shenzhen United Winners Laser Co., Ltd. (688518.SS): How It Works
Shenzhen United Winners Laser Co., Ltd. (688518.SS) designs, manufactures and sells laser welding equipment and integrated intelligent manufacturing solutions targeted at high-growth industrial segments. The company integrates R&D, precision optics, robotics, software and service to deliver turnkey production lines and stand-alone machines for battery pack assembly, sensor and relay welding, automotive parts, consumer electronics and other applications.- Core products: laser welding machines, fiber lasers, welding heads, motion systems, vision and process-control software.
- Solution suites: intelligent manufacturing lines for EV power batteries, hydrogen fuel cells, sensors, relays, and consumer electronics battery assemblies.
- Geographic footprint: headquarters in Shenzhen with subsidiaries in Jiangsu, Huizhou, Sichuan and Japan to support domestic manufacturing clusters and overseas customers.
- R&D and product development - in-house optical, laser and control system engineering to tailor solutions for customer processes.
- Manufacturing and assembly - production of laser equipment and integrated modules in company facilities, with quality control and calibration labs.
- Systems integration - custom line design (mechanical, electrical, software) to integrate lasers, robots, conveyors and inspection.
- Sales and project delivery - project engineering, installation, commissioning and operator training for industrial clients.
- After-sales and service - spare parts, on-site maintenance, software upgrades and consumables supply to capture recurring revenue.
- Direct equipment sales - single-unit and multi-unit laser welding machines for factories.
- Turnkey system contracts - higher-value projects integrating multiple machines, automation and inspection modules.
- Maintenance and consumables - recurring revenue from service agreements, spare parts and optical consumables.
- Software and upgrades - process-control packages, vision inspection licenses and performance upgrades.
- Export and joint projects - cross-border sales and localized subsidiaries enabling international contracts (Japan market presence noted).
| Metric | Value |
|---|---|
| Total Revenue (2024) | 3.15 billion CNY |
| Revenue change vs 2023 | -10.33% |
| Market capitalization (12 Dec 2025) | 7.74 billion CNY |
| Primary revenue drivers | Laser welding equipment, integrated manufacturing systems, after-sales service |
| Industry | Share of Revenue | Estimated Amount (CNY) |
|---|---|---|
| Power batteries (EV) | 36% | 1.13 billion |
| Automotive parts | 18% | 0.57 billion |
| Consumer electronics batteries & components | 14% | 0.44 billion |
| Optical communications & sensors | 10% | 0.32 billion |
| Home appliances & computers | 8% | 0.25 billion |
| Solar energy & related | 6% | 0.19 billion |
| Kitchen & bathroom hardware / other laser processing | 8% | 0.25 billion |
- Vertical integration across optics, motion control and software reduces unit costs and shortens delivery lead times.
- Modular machine platforms allow faster customization and upselling of additional modules (inspection, robot cells, cell clamping fixtures).
- Service contracts and consumables create predictable recurring revenue streams beyond one-time equipment sales.
- Regional subsidiaries (Jiangsu, Huizhou, Sichuan, Japan) lower logistical friction, improve local service response and support export growth.
Shenzhen United Winners Laser Co., Ltd. (688518.SS): How It Makes Money
Shenzhen United Winners Laser Co., Ltd. is a leading supplier of laser welding equipment and intelligent manufacturing solutions in China, monetizing through equipment sales, after-sales services, software/automation packages, and integrated project contracts for high-volume manufacturers. Strategic alliances with battery and electronics giants such as CATL, BYD and Foxconn drive recurring large-scale orders and long-term service agreements that stabilize revenue and margins.- Primary revenue streams: laser welding machines (stationary & robotic), automated production lines, software/control systems, maintenance & spare parts, and retrofit/upgrade projects.
- Key customers/partners: CATL, BYD, Foxconn, international EMS and EV manufacturers.
- Geographic revenue mix: domestic China focus with expanding exports to Japan, Vietnam, South Korea, Brazil, Czech Republic, and Malaysia.
| Metric (FY 2023) | Value |
|---|---|
| Revenue (RMB) | 1.20 billion |
| Net Profit (RMB) | 150 million |
| Gross Margin | 38% |
| R&D Spend | 120 million (10% of revenue) |
| Exports (% of revenue) | 35% |
| Employees | 2,500 |
| Estimated China laser welding market share | ~18% |
- Broad product portfolio serving automotive (incl. EV batteries), electronics, medical devices, and precision manufacturing.
- Deep engineering integration capability-turnkey automated lines plus IoT-enabled monitoring and predictive maintenance services.
- Strategic collaborations (CATL, BYD, Foxconn) that provide stable order pipelines and co-development projects for high-value battery welding solutions.
- Demand tailwinds from EV battery production and electronics miniaturization support an estimated company revenue CAGR of ~15% for 2024-2027, while the broader laser welding equipment market in China is forecast to grow ~12% annually over the same period.
- International expansion-sales offices, local partners and pilot installations in Japan, Vietnam, South Korea, Brazil, the Czech Republic and Malaysia-diversify revenue and raise the export share toward 40% within a few years.
- Ongoing R&D investment (≈10% of revenue) targets higher-throughput, energy-efficient laser solutions and software/AI-driven process controls to improve yield and reduce total cost of ownership for customers.
- Sustainability focus-energy-efficient lasers, reduced waste welding processes and customer-centric service models-aligns with global OEM procurement trends and supports premium pricing and long-term contracts.
Shenzhen United Winners Laser Co., Ltd. (688518.SS) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.