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Source: Laserfair.com  29^th Dec 2025

At the end of 2025, China's laser industry ushered in an upsurge of capital increase and share expansion: three leading enterprises splashed out nearly 200 million yuan to step up their layout in the "laser track".

From December 5 to 25, within a short span of three weeks, three industry leaders including Han's Laser, AVIC Heavy Machinery and Raycus Laser successively announced large-scale capital increase and share expansion plans for their core subsidiaries, with a total investment of nearly 200 million yuan. The funds are targeted at strategic emerging sectors such as high-end manufacturing, special light sources and aerospace additive manufacturing.

Against the backdrop of slowing growth in the traditional industrial laser market, these leading enterprises are actively building a more resilient and forward-looking industrial ecosystem by optimizing incentive mechanisms, addressing R&D shortcomings and fostering new growth engines.

In fact, the capital increase and share expansion of these manufacturers in the "laser track" is not only an active response to the current competitive pattern of the laser industry, but also an early move to seize the future technological commanding heights.

Han's Matrix3D, a Subsidiary of Han's Laser, Plans Capital Increase and Share Expansion to Enter the New 3D Printing Track

On December 25, 2025, Han's Laser issued an announcement stating that its subsidiary, Shenzhen Han's Matrix3D Technology Co., Ltd. (hereinafter referred to as "Han's Matrix3D"), plans to introduce an employee stock ownership platform and management team through capital increase and share expansion, with its registered capital to be increased from 30 million yuan to 50 million yuan.

Among the investment breakdown: Zusi Juyou (the employee stock ownership platform) will contribute 5 million yuan, Chairman Zhao Guanghui will invest 2.5 million yuan, and Han's Laser itself will inject an additional 12.5 million yuan. After the completion of the transaction, Han's Laser will directly and indirectly hold 85% of Han's Matrix3D's equity, with the new shareholders collectively holding the remaining 15%.

According to public data, Han's Matrix3D was established in 2022 and specializes in the manufacturing of equipment such as laser marking systems, metal cutting machines, and 3D printing systems. It achieved a net profit of 11.2085 million yuan in the first three quarters of 2025.

This capital increase is not a mere financial injection, but a typical combined strategy of "equity incentive + strategic empowerment". After the transaction, Han's Laser will hold an aggregate 85% equity in Han's Matrix3D, with the remaining 15% held by the core management team and the employee stock ownership platform.

Industry insiders pointed out that Han's Laser's move is not only a recognition of the subsidiary's performance, but also a preventive layout to cope with the intensifying competition in the general equipment manufacturing sector. Through the dual injection of capital and talents, Han's Matrix3D is expected to seize the first-mover advantage in the 3D printing market.

AVIC Heavy Machinery Plans to Inject 85.5 Million Yuan into Its Controlled Subsidiary

To Boost Aerospace-Grade Additive Manufacturing

On December 15, 2025, AVIC Heavy Machinery announced its plan to inject 85.5 million yuan into its controlled subsidiary, AVIC Tiandi Laser Technology Co., Ltd. (referred to as "Laser Technology" for short). Upon completion, AVIC Heavy Machinery's shareholding ratio will increase from 61.95% to 83.6%. The funds from this capital increase will be mainly used for R&D capacity building, venue purchase and basic condition guarantee, aiming to address the R&D bottlenecks of Laser Technology in laser rapid prototyping technology for titanium alloys and high-strength steel.

Established in 2011 through a joint venture between AVIC Heavy Machinery and Beihang University (BUAA), Laser Technology specializes in the R&D and industrialization of laser rapid prototyping (i.e., metal 3D printing) technology for large-scale high-performance metal components such as titanium alloys and high-strength steel. It serves as the core carrier of AVIC Heavy Machinery's additive manufacturing business.

Financial data shows that in 2024, the company achieved an operating income of 63.0853 million yuan and a net profit of 1.4558 million yuan. Despite its relatively small scale, its technical direction directly serves the high-end aerospace manufacturing industry chain, boasting significant strategic value. AVIC Heavy Machinery stated that after the capital increase, it will accelerate the technological iteration of Laser Technology and enhance its market share in the field of laser forming of aerospace structural parts.

Notably, the pricing of this capital increase is based on the assessed value of 64.7916 million yuan as of July 31, 2025, though the state-owned property right registration has not yet been completed.

Analysts pointed out that as the first military-industrial listed company under Aviation Industry Corporation of China (AVIC), AVIC Heavy Machinery's move not only reflects resource inclination towards Laser Technology but also reflects the urgent demand of military-industrial enterprises for independent control of core technologies. Against the backdrop of accelerated localization of the aerospace industry chain, Laser Technology is expected to become the core engine of AVIC Heavy Machinery in the additive manufacturing field.

Raycus Laser Plans to Inject 90 Million Yuan into Subsidiary Raywei

To Build a "Second Growth Engine"

On December 5, 2025, the board of directors of Raycus Laser approved a proposal to inject 90 million yuan into its wholly-owned subsidiary, Wuhan Raywei Special Light Source Co., Ltd. (referred to as "Raywei" for short). The entire fund will be used to advance the "Special Light Source Industrialization Capacity Enhancement Project" with a total investment of approximately 92 million yuan, focusing on building automation, informatization, and mass production capabilities.

According to the announcement, the capital increase has three core objectives: strengthening Raywei's supporting capacity, expanding its diversified development space, and accelerating the improvement of special light source industrialization capabilities. All the funds will be sourced from Raycus Laser's own capital.

Public data shows that Raywei was established in August 2022, with a business positioning distinct from its parent company's traditional industrial fiber laser business. It focuses on national defense and security application scenarios such as "low-altitude laser anti-drone systems". In the first half of 2025, the company's operating income surged by over 420% year-on-year. Although the base figure is still small, the growth momentum is strong, and Raywei has been clearly identified by Raycus Laser as its "second growth curve".

Raycus Laser emphasized that this capital increase aims to strengthen Raywei's supporting capacity, expand diversified space, and serve the needs of national major engineering projects.

Analysts believe that Raycus Laser's move is not only an internal resource optimization but also a forward-looking layout in response to industry technical trends. By deploying special light sources through Raywei, Raycus Laser is transitioning from an "industrial tool provider" to a "national strategic sci-tech force".

In fact, in the "Optics Valley International Green Laser Industry base" built in Hubei East Lake Science City, Raywei's participation will further improve the full-chain ecosystem from basic materials and core components to complete machine systems, helping China compete for discourse power in the global high-end laser application field.

Industry Observation

The "Chain Strengthening and Supplementing" Strategy Behind the Capital Increase Wave

At the end of 2025, three major manufacturers—Han's Laser, AVIC Heavy Machinery, and Raycus Laser—announced capital increases for their core subsidiaries. This move is not merely a simple capital operation, but a strategic manifestation of industry leaders proactively optimizing their layout and enhancing core competitiveness amid industry cycle fluctuations.

Faced with increasingly fierce competition and slowing growth in the traditional laser processing sector, leading enterprises have unanimously chosen to leverage capital operations to "strengthen the industrial chain internally and supplement it externally." For instance, Han's Laser focuses on "supplementing the chain through mechanism improvement," binding talents through equity incentives; AVIC Heavy Machinery emphasizes "strengthening the chain through technological advancement," investing heavily to overcome bottlenecks in aerospace-grade additive manufacturing; Raycus Laser, meanwhile, pursues "supplementing the chain through new track expansion," betting big on the emerging special light source market.

These initiatives collectively point to a trend: China's laser industry is moving away from the previous price-and-scale-centric competition, and shifting towards value-driven competition centered on technological innovation, high-end application development, and industrial chain collaboration.

Notably, by injecting resources into subsidiaries with first-mover technological advantages, these industry leaders aim to fortify their competitive moats and secure a more favorable ecological niche in the next industry boom cycle.

In the future, through capital increases or other integration paths, industry resources are expected to further concentrate in leading laser enterprises with core technologies, full-industrial-chain layout capabilities, and clear strategic vision.