On the morning of 6 November, Jinan SENFENG Laser Technology Co., Ltd. (stock abbreviation: SENFENG Laser; stock code: 920085) rang the opening bell on the Beijing Stock Exchange, becoming the first listed company in Jinan’s laser industry. The Jinan enterprise, recognised under China’s national programme for specialised and innovative “little giant” companies, added a capital-market milestone to a local laser industry worth approximately RMB 20 billion, as the city pursues its ambition to become China’s third major laser-industry hub.
Twenty years of development:
From engraving equipment to the industry’s leading group
SENFENG shares opened strongly on their first trading day at RMB 45.00, 152.95% above the RMB 17.79 issue price, and closed 120.63% higher. Turnover reached RMB 801 million, with a turnover rate of 93.89%. The trading performance represented a vote of confidence from investors in a Jinan business that has worked in the laser sector for almost two decades.
Public information shows that SENFENG started in Jinan’s high-tech zone in 2007, initially entering the market with laser equipment for engraving seals. It began developing fiber laser cutting equipment in 2014 and subsequently expanded into laser welding, cladding, cleaning and intelligent production lines, connecting complete-machine applications with core components. Today, it develops, manufactures and sells laser-processing equipment and intelligent manufacturing lines. Fiber laser cutting equipment is its core product, and the company ranks among the leading domestic suppliers of complete laser cutting systems.
Its route to listing took four years. It applied for a ChiNext listing in 2022, joined the National Equities Exchange and Quotations market in July 2025, and had its Beijing Stock Exchange application accepted on 30 December that year. The application passed review in August 2026. Only 311 days elapsed between acceptance of the application and listing.
SENFENG recorded revenue of RMB 1.330 billion, RMB 1.296 billion and RMB 1.467 billion in 2023, 2024 and 2025 respectively. In the first half of 2026, revenue reached RMB 824 million, up 16.04% year on year, while net profit attributable to the parent reached RMB 73 million, up 33.01%. The company operates two brands: SENFENG focuses on overseas markets, while Leiming serves the domestic market. Its products are sold in more than 100 countries and regions, and overseas business contributed 74.88% of revenue in 2025.
The company is controlled by Li Fengxi and Li Lei, a married couple who together hold 61.70% of its shares. The offering comprised 19 million shares and raised RMB 338 million. Proceeds are mainly intended for phase two of an integrated laser-processing equipment intelligent manufacturing project, construction of a nationwide marketing network, and working capital.
Four decades of industrial development:
Jinan targets a place as China’s third major laser hub
SENFENG’s stock-market debut reflects the long-term development of Jinan’s laser industry.
China’s first laser cutting machine was developed at the Jinan Foundry and Metalforming Machinery Research Institute in 1985. More than four decades later, Jinan’s laser industry exceeds RMB 20 billion in scale and brings together hundreds of upstream and downstream businesses, including 98 enterprises above the designated statistical size. Its laser-industry exports rank first nationally, and the city is accelerating efforts to become a third major centre after Shenzhen and Wuhan.
Jinan now has an integrated chain spanning materials, components, laser sources, equipment manufacturing and application services. Local manufacturer Bodor is reported to have ranked first worldwide in high-power cutting-machine sales for seven consecutive years. The city is already known within the industry as a “laser city”, forming a geographical pattern of Shenzhen in the south, Wuhan in central China and Jinan in the north. Jinan also established China’s first bonded maintenance base for the laser industry, developing a service model in which equipment is exported worldwide and repaired in Jinan.
The industrial ecosystem is attracting further investment. Guangdong HSG Laser established a factory in Jinan’s high-tech zone in 2020, and Han’s Laser’s northern intelligent manufacturing base followed in 2021. At HGTECH’s global partner conference in Jinan on 14 May 2026, Yin Wenwen, deputy general manager of Wuhan HGLASER Engineering Co., Ltd., announced that the company’s northern export base in Shanghe, Jinan, had officially begun production that day.
As the first company in Jinan’s laser industry to enter the capital market, SENFENG provides an example for other local advanced-equipment manufacturers seeking financing through a listing. From the laser developed in a laboratory in 1985 to the bell at the Beijing Stock Exchange, the next chapter for Jinan’s laser industry is unfolding in global markets.