Source: Laserfair.com  26^th Jun 2026

In the transition from spring to summer 2026, as most manufacturing firms scale back operations to weather the industry downturn, a wave of counter-cyclical expansion is gaining momentum across China's laser sector.

Within just one month, multiple leading A-share players — including Delphi Laser, DSBJ, Everbright and UW Laser — have rolled out successive plans for capital increases, private share placements and capacity expansion. The total investment scale amounts to nearly 10 billion yuan, covering core segments such as high-end lasers, AI photonic chips, silicon carbide (SiC) semiconductors and photovoltaic laser equipment.

Amid increasingly fierce industry competition, what underpins these companies' confidence in expanding capacity against the cycle? And what kind of future are they ultimately betting on?

Delphi Laser Launches 300M Yuan Private Placement to Double Down on Domestic High-End Ultrafast Laser Localization

On the evening of June 22, Delphi Laser announced a targeted private placement of A-shares to raise up to 300 million yuan. The proceeds will be allocated to laser production facility construction, headquarters R&D center development, and working capital replenishment.

This marks the company's second private placement proposal in quick succession. Back in December 2025, Delphi Laser unveiled a 240 million yuan fundraising plan, which was scrapped at the end of May this year after its contracted external securities service provider failed to meet regulatory filing requirements. With less than a month between the two plans and highly overlapping investment priorities, the move underscores the company’s unwavering commitment to capacity expansion.

The laser production project backed by the fundraising will be based in Suzhou Industrial Park. At full capacity, the facility will produce 1,000 nanosecond lasers, 1,000 picosecond lasers and 300 femtosecond lasers per year, alongside supporting output of tunable pulse width, semiconductor and fiber lasers.

Analysts point out that Delphi Laser's counter-cyclical fundraising serves dual purposes: optimizing its capital structure and lowering its debt ratio, while addressing core growth bottlenecks including insufficient high-end production capacity and lagging R&D iteration.

DSBJ Unveils 8.1B Yuan Optoelectronics Push, Betting on AI Photonic Chips and Optical Modules

On the evening of June 16, DSBJ announced its board of directors has approved a photonic chip and optical module expansion project led by its subsidiary Source Photonics, to be rolled out in Changzhou and other locations. With a total investment of US$1.2 billion (approximately 8.1 billion yuan), the project will be funded through the company's self-raised capital. This marks the largest single capacity investment DSBJ has made since acquiring Source Photonics in 2025.

Industry consensus holds that as global AI large model training and intelligent computing center construction accelerate, demand for 800G/1.6T high-speed optical modules is set to surge, making the shift from copper to optical interconnects an inevitable trend for intra-data-center networking.

Source Photonics is one of a small number of players worldwide capable of independently handling the full design, manufacturing and packaging of photonic chips, with proven mass production capacity for 100G/200G EML chips.

DSBJ stated that Source Photonics' existing capacity can no longer meet mid-to-long-term downstream procurement demand, and the expansion will close the supply gap while optimizing its product mix. Meanwhile, the company is simultaneously advancing the construction of an overseas production base in Thailand and its Hong Kong stock listing process, which will further strengthen its global delivery capabilities.

Everbright Makes Second Capital Injection to Horizontally Expand Into SiC Power Chips

On June 3, Everbright announced that its wholly-owned subsidiary, Everbright Semiconductor Laser Innovation Research Institute, plans to invest 25 million yuan to subscribe for 3.3333 million yuan of additional registered capital from its affiliated party Suzhou Weiqing Semiconductor. Upon completion, its stake will rise to 32.48%. This marks Everbright's second follow-on investment in Weiqing Semiconductor, following an initial 100 million yuan capital injection in July 2024.

Founded in September 2023, Weiqing Semiconductor focuses on the R&D and mass production of high-end silicon carbide (SiC) power devices. As a typical representative of third-generation semiconductors, SiC features high breakdown electric field and high saturated electron drift velocity, making it widely applicable to high-voltage, high-power scenarios including new energy vehicles, charging piles and photovoltaic inverters.

Everbright stated that its existing compound semiconductor chip processes are highly compatible with SiC power chip manufacturing, which can accelerate the rollout of production lines. In addition, the two parties share a highly overlapping customer base, allowing for the reuse of channel resources.

Beyond SiC, the company has also laid out frontier sectors such as indium phosphide (InP) photonic chips and silicon photonics integration. In March this year, it invested 8 million yuan to increase its stake in Xingyuan Optoelectronics to develop high-end InP laser chips, fully positioning itself to capitalize on the explosive growth in AI optical communications demand.

UW Laser’s Dual Capital Strategy: Locking in Upstream Clients While Incubating a New PV Track

In late May, UW Laser rolled out two consecutive capital injection plans, adopting a dual-pronged strategy of strengthening its subsidiaries and deepening ties with core clients to consolidate its leading position in new energy laser equipment.

On May 26, UW Laser announced plans to invest 20 million yuan to increase its stake in its holding subsidiary Jiangsu Chuangying Solar Technology, raising its ownership to 68.73%. Chuangying Solar serves as the company's core vehicle for the photovoltaic sector, specializing in laser processing equipment for perovskite solar cells. The capital injection will replenish working capital and accelerate capacity ramp-up for PV laser equipment.

Just one day later on May 27, UW Laser unveiled a second 50 million yuan investment plan, taking a 0.19% equity stake in its core client Sunwoda Power. A leading manufacturer of power batteries and energy storage cells, Sunwoda Power is a major purchaser of UW Laser's lithium battery equipment. The equity investment aims to solidify long-term strategic cooperation, deepen market alignment, and share in the dividends of downstream capacity expansion cycles.

From locking in major clients to doubling down on emerging sectors, UW Laser is leveraging equity investments to evolve from a pure equipment supplier into a deep partner in co-building the broader industrial ecosystem.