Report published August 27, 2026
Wuhan Raycus Fiber Laser Tech (300747.SZ): 2Q26 Earnings Review & Research Report
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 27, 2026
- Analysis as of
- August 26, 2026
Authors / editors: Jacqueline Du
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Goldman Sachs maintained its Sell rating on Wuhan Raycus Fiber Laser Tech despite raising its 12-month target price to Rmb16.70 following 2Q26 results that showed gross margin beating expectations. The firm views the stock as overvalued at 68x 2026E P/E against a 23% 2026-30E earnings CAGR.
Key Takeaways
- 1.2Q26 revenue reached Rmb1,051mn (+11% yoy, inline with GSe), while Gross Profit Margin beat expectations at 27% (+8pp yoy and vs GSe) driven by product mix upgrade toward precision manufacturing.
- 2.2026E-30E EPS estimates are revised upward by +13% on average due to GPM improvement, raising the 12-month price target from Rmb14.8 to Rmb16.7 (based on 25x 2027E P/E).
- 3.Sell rating is reiterated as the stock trades at an elevated valuation of 68x 2026E P/E against a 23% 2026-30E earnings CAGR, implying 52.6% downside.
Table of Contents
- Wuhan Raycus Fiber Laser Tech (300747.SZ): 2Q26 earnings review: revenue inline while GPM beat; Maintain Sell
- Investment thesis, valuation methodology and risks
- Price Target Risks and Methodology - Wuhan Raycus Fiber Laser Tech
- Disclosure Appendix
- Reg AC
- GS Factor Profile
- M&A Rank
- Quantum
- Disclosures
- Company-specific regulatory disclosures
- Distribution of ratings/investment banking relationships
- Price target and rating history chart(s)
- Target price history table(s)
- Regulatory disclosures
- Ratings, coverage universe and related definitions
- Global product; distributing entities
- General disclosures
Report data
Exhibit 1: Raycus 2Q26 financial summary — as of August 26, 2026.
| Metric | Estimate | Context |
|---|---|---|
| 2Q26 Revenue | 1,051 Rmb mn | Quarterly revenue performance |
| 2Q26 Gross Profit Margin | 27% | Quarterly gross profit margin beat |
| 2Q26 Net Profit | 117 Rmb mn | Quarterly net profit performance |
| 12-month Price Target | 16.70 Rmb | Target price based on 25x 2027E P/E |
| Domestic Market Share | 23% | Raycus domestic market share in fiber laser generators in China |
Document Preview
Access the Full Report
Get unlimited access to institutional research reports. Create an account to get started.
Authors / Editors
Reported Data Context
- 2Q26 Revenue: 1,051 Rmb mn (2Q26) · Source: Company data, Goldman Sachs Global Investment Research
- 2Q26 Gross Profit Margin: 27 % (2Q26) · Source: Company data, Goldman Sachs Global Investment Research
- 2Q26 Net Profit: 117 Rmb mn (2Q26) · Source: Company data, Goldman Sachs Global Investment Research
- 12-month Price Target: 16.70 Rmb (12-m forward) · Source: Goldman Sachs Research estimates
- Domestic Market Share: 23 % (2025) · Source: Goldman Sachs Global Investment Research
Securities
Themes
Regions
Browse More
Related Reports
Australia: Consumer Sentiment: Sentiment Declines 5.2% MoM in September
September 8, 2026
Japan: Q2 GDP Revised Up Slightly to +1.4% QoQ Annualized, Mainly on Capex
September 8, 2026
The 720: Xiaomi, BYD, Innolight, China Staples, China Cosmetics & Proya, Korea Industrials, CDMO/CRO, MetaX
September 8, 2026
Whirlpool Corp.: Appliances - Labor Day 2026 Pricing Update
September 8, 2026
US Tariff Impact Tracker: Indicated Imports into LA to Increase Next Week Before Turning Negative Two Weeks Out
September 8, 2026