Han's Laser Technology Industry Group Co Ltd Class A

002008: XSHE (CHN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	¥85.70	Gnh	Smpbvqsx

Han’s Laser Earnings: Shares Cheap on Long-Term EV and Solar Prospects, and Rock Bottom Sentiment

Phelix Lee

Aug 22, 2023

We lower our fair value estimate on Han’s Laser to CNY 33.50 from CNY 36 after factoring in weak June quarter results and a cautious outlook. The stock remains undervalued as we believe the market prices in a long-term decline in corporate investments, especially printed circuit board, or PCB, which is unlikely the case. We believe demand growth for lithium batteries, solar battery equipment, and car-related high-power laser equipment sales can endure for the next decade.

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