Source: Laserfair.com  22^nd May 2026

Recently, nearly 30 listed companies in the laser industry chain have successively released their 2025 annual reports, and a hidden battle over order volumes and emerging growth tracks has surfaced.

Data shows that Hymson has become the "Order King" with an outstanding order backlog of 12.3 billion yuan. New orders received by companies including UW Laser and YIFI Laser have also hit all-time highs. Meanwhile, Huagong Tech, Yuanjie Semiconductor, AFR and JPT, riding the wave of AI computing power, have achieved surging performance in tracks such as optical communications.

Who is celebrating? Who is lying low? And who has the staying power to laugh last? The answer may well lie behind these red-hot figures.

Order Backlog Moat: With Billions in Hand, Who Is Best Positioned to Weather the Cycle?

Revenue reflects the past, while orders determine the future. If revenue is the public face of a company's performance, order backlog is its true underlying strength. In 2025, multiple major laser manufacturers built a formidable moat for future growth with record-breaking order reserves.

Among them, Hymson holds the industry's largest outstanding order backlog of 12.3 billion yuan (tax-inclusive), up approximately 76% year-over-year, earning it the title of the industry's "Order King". Although its full-year revenue declined slightly, its 9.5 billion yuan in new orders signals strong rebound momentum ahead. Notably, its new overseas orders reached 2.45 billion yuan, indicating that the company's globalization strategy is accelerating rapidly.

UW Laser also demonstrated exceptional order-taking capabilities, securing 5.1 billion yuan (tax-inclusive) in new orders for the full year, surging 70% year-over-year to an all-time high. This robust backlog has stockpiled ample ammunition for the company's next phase of growth. The company stated that key breakthroughs in the solid-state battery sector, along with orders from emerging fields such as AI computing servers and healthcare, have been major sources of incremental revenue.

While YIFI Laser faced pressure on net profit during the reporting period, its outstanding order backlog reached 2.111 billion yuan, up 59.12% year-over-year, also hitting a record high. The company has achieved remarkable results in overseas market expansion, with new orders doubling year-over-year.

In fact, these massive order reserves are not only the ballast stone for future performance but also a direct reflection of downstream recognition of the companies' comprehensive competitiveness in technology, market reach and customer resources.

AI Computing Power Drives Growth: Optical Communications and PCB Emerge as the Strongest Trump Cards

In 2025, the wave of AI computing infrastructure construction has brought a new and definitive growth dividend to the laser industry chain. Companies that capitalized on demand for optical communications and high-end PCB equipment emerged as the biggest winners, with their revenue growth almost a direct reflection of order growth.

Yuanjie Semiconductor, an upstream chip manufacturer in the industry chain, delivered the most standout performance. Its data center business revenue skyrocketed 719.06% year-over-year to 393 million yuan, accounting for over 65% of total revenue for the first time. Its impressive 72.21% gross margin underscores its high technical barriers and value position as a core "pick-and-shovel" player in the AI computing power ecosystem.

Han's CNC captured the largest share in the downstream PCB equipment sector. Benefiting from demand for high-value PCBs driven by AI servers and high-speed optical modules, it posted 2025 revenue of 5.773 billion yuan, a 72.68% year-over-year surge; revenue from drilling equipment alone jumped 98.38%. The company not only boasts a full order book but has also gained recognition from leading customers in cutting-edge fields such as advanced packaging, opening up new avenues for future growth.

Huagong Tech's Connectivity Business (primarily optical components and modules) exceeded 6 billion yuan in revenue, up 53.39% year-over-year, becoming the company's top growth engine. It achieved a generational leap from 400G to 3.2T products and completed a global multi-site production capacity layout, effectively capturing AI computing power orders worldwide.

AFR executed a lightning-fast strategic pivot. Its optical communications components business reached 786 million yuan in revenue, surging 100.37% year-over-year and accounting for 53.34% of total revenue, successfully replacing fiber laser components as its largest revenue source.

Pioneering New Growth Frontiers: The Transformative Leap from Potential to Tangible Orders

Faced with cyclical fluctuations in mature markets, leading companies are accelerating their penetration into new sectors, turning technological reserves into tangible commercial orders.

JPT is a prime example of this trend. In 2025, its fiber optic components business, riding the AI wave, generated 143 million yuan in revenue, a staggering 560.42% year-over-year increase. It launched core products including MPO/MMC optical connection modules and secured orders worth hundreds of millions of yuan. More importantly, its "Golden Gun" FPCB laser micro-hole processing equipment—developed over three years—broke the foreign monopoly and won orders from top domestic customers, marking its breakthrough from 0 to 1 in the high-end intelligent manufacturing equipment sector.

While deepening its presence in the photovoltaic industry, DR Laser has identified advanced semiconductor packaging as a strategic priority. Its laser micro-hole equipment for Through Glass Via (TGV) applications has been shipped and adopted by customers in small batches, directly tapping into the advanced packaging demand window driven by AI computing power.

Bright Laser demonstrated its ability to convert metal 3D printing technology into orders in the consumer electronics market. Its industrial sector revenue grew 97.67% year-over-year, surpassing its traditionally dominant aerospace sector in scale, proving its enormous potential in commercial applications.

The successful order wins in these new sectors provide critical support for these companies to weather cyclical fluctuations in traditional industries and build a diversified revenue structure with multiple growth pillars.

Scramble for Overseas Orders: From Product Export to Ecosystem Globalization

The global distribution of orders is another critical dimension for measuring companies' long-term competitiveness. In 2025, the overseas strategies of laser enterprises have undergone a fundamental shift from trade-oriented exports to localized operations and ecosystem-driven global expansion.

Hymson's global layout serves as an exemplary benchmark. In 2025, the company secured approximately 2.45 billion yuan in overseas orders, accounting for about 20% of its total order book, with customers spanning Europe, Southeast Asia and the Middle East. In Germany, it has co-established a solid-state battery pilot line with local partners; in Southeast Asia, it delivers turnkey solutions for photovoltaic module production lines.

Han's Laser leverages its strengths as a platform enterprise to deepen its global market penetration. In 2025, its production bases in Vietnam, India, Mexico and other regions commenced operations successively, enabling localized delivery of PCB laser equipment and new energy equipment.

UW Laser has carved out a distinctive overseas expansion path. In 2025, its overseas revenue grew by more than 30% year-over-year, primarily driven by exports of power battery laser welding equipment. Its strategy is a "follow-the-customer" approach: as leading clients such as CATL and BYD build manufacturing facilities overseas, UW Laser, as their core equipment supplier, establishes a synchronized presence.