【私募调研记录】龙航资产调研奥来德、联赢激光

Group 1: Aolaide - Aolaide's projected revenue for Q1 2024 is 533 million, and for Q1 2025 is 153 million, with stable performance in materials business and a decline in equipment business due to industry transformation [1] - The company is actively promoting domestic substitution in materials business and is focusing on new product R&D, with R&D investment expected to reach 150 million in 2024 and a total of 913 patent applications [1] - Aolaide has successfully established 23 national project applications in 2024 and is utilizing AI technology to optimize material R&D and production [1] Group 2: Lianying Laser - Lianying Laser signed new orders worth 3 billion in 2023, a decrease of 10.33% year-on-year, with Q1 2024 orders nearing 1.8 billion and a target of 4.5 billion for 2025 [2] - The company anticipates rapid growth in the lithium battery sector for electric vehicles and energy storage in 2024, with a strategic adjustment planned for the power lithium battery sector after September 2024 [2] - Lianying Laser's inventory is healthy, with a projected doubling of impairment provisions in 2024, but a decrease in impairment expectations for 2025 [2]